CANADA STOCKS-Energy losses lead TSX lower; BlackBerry jumps to 1-year high

Wed Apr 12, 2017 5:03pm EDT
 
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* TSX ends down 78.71 points, or 0.50 percent, at 15,648.40

* Half of the TSX's 10 main groups fall

* BlackBerry jumps 15.4 pct after arbitration win

By Alastair Sharp

TORONTO, April 12 (Reuters) - Canada's main stock index fell 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.

Lower oil prices pulled the index's influential energy group down 1.1 percent overall, while the financials group fell 0.8 percent, as investors took a cautious approach to lingering geopolitical tensions ahead of corporate earnings season.

Major oil sands player Canadian Natural Resources Ltd fell 1.2 percent at C$44.72.

"Earnings season is coming up fast and furious and we'll get a good idea of what companies are predicting for the rest of the year," said Barry Schwartz, portfolio manager at Baskin Financial Services.

"Corporations aren't putting money to work because they're not seeing demand like they were seeing, and of course we're very resource-heavy and prices don't dictate for anyone to start a new oil sands project here."   Continued...