CANADA STOCKS-TSX little changed as RIM, resources drag
* TSX up 3.82 points, or 0.03 percent, at 12,820.45 * Six of the 10 main sectors higher * RIM shares off 2.6 pct ahead of BlackBerry 10 launch By Solarina Ho TORONTO, Jan 28 (Reuters) - Canada's main stock index pared early gains to trade little changed at midmorning on Monday, as firmer bank stocks were offset by weaker Research In Motion Ltd shares and falling natural resource stocks. Investors were positioning ahead of the RIM's critical launch of its new BlackBerry 10 platform this week. RIM shares, which have climbed about 50 percent this year at Friday's close, were down 2.6 percent to C$17.16. The overall technology group was down 1.22 percent. Recent overall market sentiment has been positive following a string of encouraging economic data. The hefty financial group was up 0.39 percent, lead by Royal Bank of Canada, which climbed 0.76 percent to C$62.57. Four of the five most influential gainers in the index were top Canadian banks. "Earnings are doing fine. Valuations are still reasonable. Europe seems to be contained ... it's tough to see a major change in terms of investor sentiment," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier, but said cautious investors were also booking some profits. "There's still a lot of cash on the sidelines. Any sort of pullback is going to met with buying, but cautious buying." At midmorning, the Toronto Stock Exchange's S&P/TSX composite index was up a modest 3.82 points, or 0.03 percent, at 12,820.45. Six of the index's 10 main groups advanced. Also weighing on gains was a 0.4 percent fall in materials, led by mining firms. Kinross Gold Corp was off 2 percent to C$8.41, tracking gold prices, which were holding near two-week lows ahead of the U.S. Federal Reserve meeting on Tuesday on Wednesday on its monetary policy. Energy stocks were off 0.2 percent, despite firmer oil prices. Encana Corp was down 1.4 percent to C$19.44. "There's a land lock with an oil supply surplus in Canada, until we can get the transportation to the refiners. Even though the headlines may look good in terms of what's going on with world oil prices, Canadian prices are quite poor," said Nakamoto. Fast-growing output from vast oil sands in Alberta and limited pipeline capacity to move it to markets in the United States have weighed on the price of its crude. In corporate news, Nordion Inc, a major provider of medical isotopes, said on Monday it has hired advisers to examine options for its future. The news sent shares up 12 percent to C$7.20.
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