CANADA STOCKS-TSX flat as Barrick losses offset Talisman gain
* TSX falls 7.83 points or 0.06 percent, to 12,781.19 * Barrick Gold down after African unit disappoints * Thomson Reuters shares slip after results * Talisman up nearly 2 percent after posting profit By John Tilak TORONTO, Feb 13 (Reuters) - Canada's main stock index edged lower on Wednesday, led by a decline in Barrick Gold Corp , the world's largest gold producer, after the release of disappointing earnings from the its African subsidiary. A 3.1-percent drop in shares of Thomson Reuters Corp also weighed on the index after its revenue forecast for 2013 failed to impress analysts, though quarterly operating profit grew 2 percent due to cost cutting efforts. The stock was trading at C$29.77. Declines in the two stocks offset a 1.8 percent rise in shares of Talisman Energy Inc, which reported a quarterly profit on gains from asset sales. "We continue to have a mixed earnings picture," said Fred Ketchen, director of equity trading at ScotiaMcLeod. The Toronto Stock Exchange's S&P/TSX composite index was down 7.83 points, or 0.06 percent, at 12,781.19. Five of the 10 main sectors on the index were higher. The market was supported by a 0.3 percent rise in the financial sector. Royal Bank of Canada gained 0.5 percent to C$63.29. Bank of Nova Scotia rose 0.4 percent to C$58.79. "People are very confident with the sector. It's very low risk," Ketchen said. The stable earnings and dividend payouts are also drawing investors to financials, he added. Barrick Gold, which dropped 1.5 percent to C$32.06, was key in dragging the market lower after African Barrick Gold , in which it owns a majority stake, said production would shrink for a fifth straight year and that it would focus on reining in soaring costs. A slew of gold producers is due to report quarterly earnings, with Toronto-based Kinross Gold Corp later on Wednesday, and both Barrick Gold and Goldcorp Inc on Thursday. Other major companies that will report results this week include Encana Corp and Sun Life Financial Inc .
- Malaysia Airlines denies crash report, says plane still missing |
- UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws red line' on North Korea, says won't allow war on peninsula
- No signal picked up from missing Malaysia Airlines plane-Vietnam official
- Malaysian plane crashed off Vietnam coast: state media