CANADA STOCKS-TSX little changed as drop in energy shares weighs

Thu Sep 11, 2014 10:57am EDT
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* TSX down 10.80 points, or 0.07 percent, at 15,461.09
    * Five of 10 main index sectors decline
    * BlackBerry climbs after announcing acquisition

    By John Tilak
    TORONTO, Sept 11 (Reuters) - Canada's main stock index was
little changed on Thursday as sluggish oil prices weighed on
shares of energy producers, offsetting a gain in the financial
    The energy sector has been under pressure in the last three
months, as the price of oil has been slipping. Brent crude
 hit a two-year low on increasing concerns over rising
supply and sluggish demand.
    Investors also digested data indicating the number of
Americans filing new claims for unemployment benefits
unexpectedly rose last week. 
    The market is taking "a wait-and-see approach," said Kevin
Headland, director, portfolio advisory group, at Manulife Asset
    "There's a lot of uncertainty coming to the end of the year
as we end QE3 and look towards an increase in interest rates,"
he said, referring to the U.S. Federal Reserve's quantitative
easing program.
    He said the TSX may not be able to sustain the pace at which
it has been rising this year. The benchmark index is up more
than 13 percent since the start of 2014.
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 10.80 points, or 0.07 percent, at 15,461.09.
Five of the 10 main sectors on the index were in the red.
    Shares of energy producers dropped 0.6 percent, with
Canadian Natural Resources Ltd giving back 0.2 percent
to $44.60 and Encana Corp declining 0.7 percent to
    Financials, the index's most heavily weighted sector,
advanced 0.4 percent. Royal Bank of Canada climbed 1
percent to C$82.04, and Bank of Nova Scotia added 0.6
percent to C$72.78.
    BlackBerry Ltd's shares jumped 3.2 percent, to
C$11.59, after the smartphone maker said it has acquired
Movirtu, a provider of virtual identity solutions.

 (Editing by James Dalgleish)