RPT-CANADA STOCKS-TSX ends lower; resources outweigh banks, RIM

(Refiles to fix typo in headline)

* TSX ends down 0.15 percent at 11,344.11

* Miners lead slide; golds, oils also lower

* RIM, banks make late session surge

* U.S. Fed keeps rates steady, tone brighter
(Adds details)

By Ka Yan Ng

TORONTO, Jan 27 (BestGrowthStock) – Toronto’s main stock index
finished lower on weak resources on Wednesday, staving off a
late-session rally by Research In Motion (RIM.TO: ) and financial

Concerns about the global economic recovery, highlighted by
Greece’s fiscal health and a drop in U.S. new home sales, and
worries over demand for key commodities weighed on the
resource-laden index, dragging down a host of blue-chip oil and
gold producers. [ID:nN27177942]

Teck Resources (TCKb.TO: ) led the slide, falling 4.26
percent to C$37.05, followed by Suncor Energy Inc (SU.TO: ), down
0.91 percent at C$34.71.

Gold and oil prices were lower as the U.S. dollar hit a
six-month high against the euro on concerns over Greece’s
fiscal problems and lingering concerns about China’s recent
credit-tightening steps. [GOL/][O/R].

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) ended down 17.08 points, or 0.15 percent, at
11,344.11. Half of the index’s 10 main groups were lower, led
by a 1.59 percent drop in the materials sector.

“A lot of it has to do with what’s going on in China, the
perception of the tightening there. Until those jitters go
away, it’ll probably be under pressure for a while,” said Ian
Nakamoto, director of research at MacDougall, MacDougall &

On the upside, all five of the country’s biggest banks were
among the top influential advancers, adding to gains after the
U.S. Federal Reserve voiced a cautious note of optimism on the
U.S. economy. The U.S. central bank also stuck to its pledge to
keep interest rates near zero for a while to ensure a
sustainable recovery. [nFEDAHEAD]

Bank of Nova Scotia (BNS.TO: ) rose 1.4 percent to C$45.79,
while Bank of Montreal (BMO.TO: ) climbed 1.16 percent to C$54.

The Fed announcement helped the TSX gain enough momentum to
poke briefly into positive territory near the session’s end,
before the weakness in resources, which make up nearly half the
index’s weighting, took over.

RIM topped heavyweight gainers with a 3.92 percent rise to
C$68.18, contributing to the market-leading 1.27 percent gain
by the information technology sector. Contract electronics
maker Celestica (CLS.TO: ) rose 1.35 percent to C$10.54, ahead of
after-market news that it had returned to quarterly profit.

Thursday’s session will likely take at least some direction
from U.S. President Barack Obama’s State of the Union address,
scheduled to be broadcast at 9:00 p.m. tonight. [ID:nOBAMA]

Stock Market News

(Editing by Rob Wilson)

RPT-CANADA STOCKS-TSX ends lower; resources outweigh banks, RIM