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Canada's main stock market recovered from being down around 90 points at day lows with two hours of trading left, and from being down around 70 points with just an hour to go. It succeeded in edging back in to positive territory at the very end of Thursday's session.

The losses over the early afternoon period reflected investor concerns about the outlook for the European economy and disappointment as manufacturing output slowed in the world's two largest economies, the United States and China. The renewed buying may have been spurred by bargain hunters, who have occasionally come to the fore in recent weeks as the stock market remains under pressure amid concerns about the global economy, and especially Europe's.

The index closed just above the 11,560 mark. It was at a day high 11,627.59 before midday on gains for gold miners. But fears about Europe and the release of poor economic numbers eventually overshadowed the market and led to shares, not least financial issues, being sold down. The index hit a day low 11,472.95 just before 2pm ET. That's when buying picked up again, including in banks.

TD Bank (TD.TO) shares moved from being 0.3% lower to 0.35 higher over the final hour. The bank reported today a profit of $1.69 billion in its latest quarter, a 21% increase from the same period last year. Royal Bank of Canada (RY.TO) shares closed down 2.9% having been down nearly 4% inside the last hour. The bank reported second quarter profit of $1.56 billion, saying the number would have been higher without a loss associated with its acquisition of the remaining half of RBC Dexia. That's down 7% from $1.68 billion in the same period last year.

Shares of Research In Motion (RIM.TO) were down more than 4% in late trading Thursday at around $10.90 - its lowest level in around 8.5 years - after the company's head of global sales resigned. It closed at $10.98.

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