CANADA STOCKS-TSX falls; BlackBerry jumps to 1-year high on arbitration win

Wed Apr 12, 2017 9:59am EDT
 
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* TSX down 20.96 points, or 0.13 percent, at 15,706.15

* Seven of the TSX's 10 main groups fall

* BlackBerry jumps 17 pct after arbitration win

TORONTO, April 12 (Reuters) - Canada's main stock index slipped in morning trade on Wednesday, as losses for its heavyweight financial and natural resource sectors offset a sharp boost in BlackBerry Ltd shares after it won an arbitration ruling against chipmaker Qualcomm Inc.

BlackBerry surged 17.2 percent to C$12.04, its highest level since January 2016, after Qualcomm was ordered to repay it $814.9 million in royalty payments.

Shaw Communications Inc also gained, up 4.2 percent to C$28.60 after reporting a jump in revenue driven by the addition of more wireless customers.

But at 9:39 a.m. ET (1339 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 20.96 points, or 0.13 percent, at 15,706.15, as seven of its 10 main groups were in negative territory.

Decliners were outnumbering advancers by 1.8-to-1.

The financials group slipped 0.3 percent, as investors braced for U.S. bank earnings season. Royal Bank of Canada declined 0.4 percent to C$96.45 and Bank of Nova Scotia slipped 0.3 percent to C$77.23.   Continued...