TORONTO, Feb 15 (Reuters) – Canadian stocks were higher at midday on Wednesday on encouraging economic data and news that China would continue to buy up European debt, but enthusiasm was tempered by reports that Greece’s debt bailout may be delayed.

Greece approved painful austerity measures on Sunday to secure another European Union debt bailout but sources said the deal may now be delayed until after Athens holds elections in April.

That was enough to keep nervous investors on the sidelines as any delay would endanger Greece’s ability to finance 14.5 billion euros ($19 billion) in bond redemptions due next month.

“The volumes are speaking to the uncertainties that are out there,” said Paul Hand, managing director at RBC Capital Markets. “It looks we’re avoiding the doomsday scenarios at the moment, but there’s still not a lot of enthusiasm.”

The uncertainty pushed financial shares slightly lower with Royal Bank of Canada, down 0.6 percent at C$53.32, leading the sector’s losses.

At 12:20 p.m. (1720 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 28.22 points, or 0.2 percent, at 12,382.69.

Supporting the market was a key gauge of U.S. manufacturing, which showed activity in New York State picked up in February to its highest level in more than 1-1/2 years.

TORONTO, Feb 15 (Reuters) – Sales of existing homes in Canada fell 4.5 percent in January from December, the Canadian Real Estate Association said on Wednesday, in the latest sign the once hot market is cooling.

The industry group also said the number of newly listed homes edged down 1.4 percent on a month-over-month basis.

However, actual sales came in 4 percent above levels in January 2011, and stood even with the five- and 10-year averages for January sales.

The average sale price was C$348,178 ($347,900), up 1.2 percent from a year earlier. The industry group said this was among the smallest increases since late 2010.

“Year-over-year comparisons in the national average price are expected to become volatile and may turn negative, reflecting average price developments in the first half of 2011 in Vancouver,” CREA’s chief economist Gregory Klump said in a statement.

The report follows recent CREA data that showed Canadian home prices rose in January on a monthly basis for the first time in three months, led by gains in Montreal, Toronto and Vancouver.

“The national housing market is stabilizing and remains well balanced,” Gary Morse, CREA’s president said in a statement. “That said, forecasts for economic and job growth going forward vary widely for different parts of the country, suggesting a possible continuation of a softening trend in some markets.”

TORONTO, Feb 14 (Reuters) – Canadian stocks ended at their lowest level in nearly a month on Tuesday, undermining the big gains they made at the start of the year, as mining and energy issues slid on a fresh round of euro zone credit downgrades and on concern about slowing U.S. retail sales.

Market confidence in the U.S. economy slipped after data showed retail sales rose less than forecast in January as consumers cut back on car purchases and did less online shopping. Sales increased 0.4 percent in the month, the Commerce Department said, less than the 0.7 percent rise expected by economists polled by Reuters.

“People are extremely concerned about the degree to which consumers are extended at this point in time,” said Michael Sprung, president of Sprung Investment Management Inc. “A soft sales number just goes to confirm that there’s not a lot of capacity there.”

The weak U.S. data had a more pronounced effect in Toronto than it did on U.S. stock markets. The Toronto index’s heavyweight materials group fell nearly 1 percent on concern about falling U.S. demand for Canadian resources.

Losses were led by miner Barrick Gold, which edged down 0.7 percent to C$47.64 as bullion prices slid with the euro after Moody’s warned it may cut its triple-A credit ratings for France, Britain and Austria.

“It was a shot across the bow,” said Robert Gorman, chief portfolio strategist at TD Waterhouse, of the Moody’s warnings.

Also in the materials group, fertilizer producer Potash Corp dropped 0.5 percent to C$44.45 and diversified miner Teck Resources slipped 0.8 percent to C$38.97, hit by another drop in copper prices.

TORONTO, Feb 14 (Reuters) – Canadian stocks touched their lowest point in nearly a month on Tuesday morning with mining and energy issues leading the way, hit by weak U.S. retail sales data and a fresh round of euro zone credit downgrades.

Investor confidence in the U.S. economy took a step back after data showed retail sales rose less than forecast in January as consumers cut back on car purchases and did less online shopping.

U.S. consumers have been increasingly focused on paying down debt since the recession, said Robert Gorman, chief portfolio strategist at TD Waterhouse.

The bigger picture is one of a “fairly cautious consumer, tending to focus on the basic goods and services as opposed to the big-ticket items,” he said.

The U.S. figures had an immediate impact on resource issues with the index’s heavyweight materials group falling 1 percent. In the sector, diversified miner Teck Resources slid 1.6 percent to C$38.69, hit by another drop in copper prices.

Also in the materials group, fertilizer producer Potash Corp dropped 1.2 percent to C$44.12.

Declines in oil and gas producers were led by Canadian Natural Resources, which tumbled nearly 4 percent to C$36.69 after the company said its Horizon oil sands upgrader in northern Alberta would be shut down for several weeks longer than expected to repair a processing unit.

TORONTO, Feb 13 (Reuters) – Toronto’s main stock index ended little changed on Monday as retreating gold issues offset energy sector gains, preventing Canadian equities from joining the global rally after Greece approved tough new austerity measures to win a critical debt bailout.

Most of the TSX’s 10 main sectors were higher, but the gains were undercut by a weak showing from the world’s largest gold miner and others in the mining space.

Despite a rise in bullion prices, Barrick Gold slid 0.6 percent to C$47.97, coming under pressure from plans to sell its 20 percent stake in Russia’s Highland Gold , pulling out of one of the world’s most promising – but also toughest – gold frontiers.

Goldcorp, Canada’s second largest gold miner, was also down, falling 0.5 percent to C$45.70.

Base metal miners also helped pull the materials sector lower. Teck Resources fell 2.3 percent to C$39.30 as copper prices slipped after encountering stiff resistance at around the $4 per pound ($8,800 per tonne) level.

“For Canadian investors it’s a little disappointing, because we’re seeing the rest of the world rally on a deal in Greece and we’re being left out of the party,” said Philip Petursson, portfolio advisory group at Manulife Asset Management.

World stocks rose on Monday after Greece’s parliament passed drastic austerity measures to avoid a messy debt default, but doubts over whether Athens will be able to live up to its promises and secure a new rescue package curbed an initial rally in the euro.

TORONTO, Feb 13 (Reuters) – Canadian stocks were flat at midday on Monday as energy issues rose after Greece approved a controversial austerity bill to secure a second bailout, but the TSX’s gains were held in check as the European Union still had to approve the deal.

Athens must convince a skeptical euro zone that it will stick to the terms of the deal in order to secure the 14.5 billion euros it needs to meet debt repayments due on March 20.

“Sometimes last-minute conditions are attached to it and things can still fall apart,” said Carlos Leitao, chief economist at Laurentian Bank Securities.

“A deal is better than no deal, but let’s keep the champagne in the fridge.”

At 12:20 p.m. (1720 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 4.98 points at 12,394.40, after giving up earlier gains and briefly turning negative.

Most of the TSX’s 10 main sectors were higher, but gains were hurt by a weak showing from the world’s largest gold miner.

Barrick Gold was down 1.1 percent to C$47.72, coming under pressure from plans to sell its 20 percent stake in Russia’s Highland Gold, pulling out of one of the world’s most promising – but also toughest – gold frontiers.

TORONTO, Feb 10 (Reuters) – The Canadian dollar’s sustained run against the greenback hit a speed bump on Friday after a key bailout deal for Greece met with fresh resistance, putting the possibility of a disorderly default back on the table.

Just 24 hours after Athens agreed to tough wage and pension cuts demanded by international lenders, the deal looked set to collapse after euro zone leaders imposed further conditions on Greece to receive its next rescue package and the country’s far-right leader said he could not vote in favour of the deal.

The timing was precarious, as Greece faces a deadline next week to secure a 130 billion euro ($172.95 billion) bailout from the International Monetary Fund and the European Union to finance massive bond redemptions coming due in March.

The news halted the Canadian dollar’s rally, knocking it below parity with the U.S. currency and to its biggest weekly loss this year.

“Strength for the Canadian dollar is probably capped to some extent,” said Benjamin Reitzes, senior economist and foreign exchange strategist at BMO Capital Markets. “It’s tough to see how long that can continue for, considering the global economic headwinds that are out there.

“There’s probably more downside than upside,” added Reitzes who saw the dollar’s near-term range between C$0.99 and C$1.0070 to the U.S. dollar.

The Canadian currency finished at C$1.0028 to the U.S. dollar, or 99.72 U.S. cents, down from Thursday’s close at C$0.9956 to the U.S. dollar, or $1.0044. It was the currency’s lowest close this month the biggest weekly drop since Dec. 12-16.

TORONTO, Feb 10 (Reuters) – The Canadian dollar slumped on Friday against its U.S. counterpart after a bailout deal for Greece met with fresh opposition, but the currency’s slide was tempered by data that showed Canada’s trade surplus unexpectedly rose to a three-year high in December.

Overnight the Canadian dollar had fallen below parity with the greenback for the first time in more than a week after the leader of a far-right party in Greece’s coalition government said he could not back a recently negotiated debt bailout agreement, reigniting worries about a chaotic default.

Athens faces a deadline next week to have a deal in place to secure a 130 billion euro ($172.95 billion) rescue package from the European Union to finance massive bond redemptions coming due in March.

The news knocked the euro from its two-month high on Thursday against the U.S. dollar.

Canada’s currency has largely traded in step with the euro for much of the year, rising above the one-to-one level with the U.S. dollar. But the increased uncertainty over Greece had investors selling riskier currencies and buying the U.S. dollar on Friday.

“The news isn’t coming out as expected, so rather than risk some catastrophic news, take some profit on positions,” said Michael O’Neill, vice-president of foreign exchange trading at RJOFX Canada.

At 10:50 a.m. (1550 GMT), the Canadian dollar stood at C$1.0017 to the U.S. dollar, or 99.83 U.S. cents, down from Thursday’s close at C$0.9956, or $1.0044.

TORONTO, Feb 9 (Reuters) – Toronto’s main stock index ended lower on Thursday as it brushed off optimism generated by a long-awaited Greek bailout deal and strong U.S. jobs data, and moved instead on some weak earnings in the financial and telecom sectors.

The TSX has rallied more than 4 percent so far this year, after ending 2011 down more than 11 percent, thanks largely to a slowly improving U.S. economy and the absence of further bad news from Europe.

That formula appeared intact on Thursday as a report showed weekly U.S. jobless claims fell and Athens finally agreed to adopt new austerity measures in exchange for a 130 billion euro ($172 billion) aid package in a bid avoid a debt default.

“It’s a nonsensical day. It’s one for the X-Files,” said Barry Schwartz, vice-president and portfolio manager at Baskin Financial Services. “If you have good economic data in the U.S. it’s (usually) going to jump the border to Canada.”

Despite the positive signs, the Toronto Stock Exchange’s S&P/TSX composite index finished down 23.08 points, or 0.2 percent, at 12,497.94. It was its lowest close this month.

“The market is confused because there are so many cross currents going on out there,” said Sal Masionis, a stockbroker at Brant Securities.

Nearly all of the TSX’s 10 main sectors were lower, led down by financials and telecoms after weaker than expected earnings by industry heavyweights Manulife Financial and BCE Inc .

TORONTO, Feb 9 (Reuters) – Canada’s main stock index was little changed at midday on Thursday as losses among financial issues offset gains in mining shares after Greek leaders clinched a highly anticipated debt deal.

Greece’s agreement to adopt new austerity measures was expected to pave the way for a 130 billion euro ($172 billion) aid package that may help it avoid a disorderly default that would spillover into global financial markets.

The Greek breakthrough, however, failed to rally Canadian stocks as investors remained nervous about the overall state of the euro zone economy and focused on some weak corporate earnings.

“The market is confused because there are so many cross currents going on out there,” said Sal Masionis, a stockbroker at Brant Securities.

At noon (1700 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 11.05 points, or 0.1 percent, at 12,509.97.

Financial issues dragged on the index as Manulife Financial’s shares fell 1 percent to C$11.98 after Canada’s biggest life insurer reported a quarterly loss, citing the weaker global economy and losses from lower interest rates. It also said chief financial officer Michael Bell would step down.

The drag of low interest rates on Manulife’s results seemed unlikely to end soon. On Thursday, the European Central Bank held rates at a record low, seeing tentative signs of economic stabilization, but policymakers suggested rates could yet fall.