CANADA STOCKS-TSX overcomes RBC results, posts slight gain

* TSX up 15.42 points, or 0.12 percent, at 13,178.95

* Royal Bank of Canada slides as results disappoint

* Weak U.S. dollar helps push up oil, gold
(Updates to close, adds details)

By Jennifer Kwan

TORONTO, Dec 3 (BestGrowthStock) – Toronto’s main stock index rose
for a fifth straight session on Friday as a weak U.S. dollar
pushed up commodity prices, but soft quarterly results from
Royal Bank of Canada (RY.TO: ) crimped the gain.

Gold-mining stocks were among the big risers. Barrick Gold
(ABX.TO: ) rose 1.2 percent to C$54.22, while Kinross Gold (K.TO: )
rallied 3 percent to C$18.79 as gold prices jumped to above
$1,400 an ounce as weak U.S. jobs data cast doubt on the
strength of the economic recovery. [GOL/]

Suncor Energy (SU.TO: ) climbed 1.5 percent to C$36.24 and
Encana (ECA.TO: ) climbed 0.7 percent to C$28.64 as oil prices
rallied for a third day on Friday, boosted in part by a weaker
U.S. dollar. [O/R] [FRX/]

Gains were hindered by the index’s weak financials, which
finished down 0.8 percent.

Royal Bank reported a drop in quarterly profit on higher
costs, lower trading revenues and weakness at its U.S. retail
bank. Shares of the country’s biggest bank skidded 4.4 percent
to C$53.25. [ID:nN03286521]

Elsewhere in the sector, Toronto-Dominion Bank (TD.TO: ) sank
1.5 percent to C$72.23, while Canadian Imperial Bank of
Commerce (CM.TO: ) dropped 1 percent to C$78.50.

Bruce Latimer, trader at Dundee Securities, said the
market’s largely subdued performance reflected an investor
pause after four days of gains.

“The market had a good rally the first two days of December
so I think we’re just sort of digesting and consolidating those
gains,” he said.

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) ended the session up 15.42 points, or 0.12 percent,
at 13,178.95. It gained 2 percent on the week.

Bucking the trend in the financials sector was Bank of Nova
Scotia (BNS.TO: ), which climbed 3.1 percent to C$55.63 after it
reported a quarterly profit that rose 21 percent.

Toronto stocks moved in tandem with U.S. equities, which
also finished the day slightly higher.

U.S. jobs data kept the U.S. stock market move in check,
however. U.S. employment barely rose in November and the
jobless rate unexpectedly hit a seven-month high, disappointing
those who had thought the U.S. economy was accelerating after a
soft patch in the summer. [.N] [ID:nN02238002]

In Canada, the employment numbers were also disappointing
with fewer than expected jobs created in November. The
unemployment rate fell but that was attributed to more youth
leaving the job market. [ID:nN03271210]

($1=$1.004 Canadian)
(Reporting by Jennifer Kwan; editing by Peter Galloway)

CANADA STOCKS-TSX overcomes RBC results, posts slight gain