CANADA STOCKS-TSX rises as BlackBerry, energy stocks lead rally

Thu Jun 1, 2017 11:12am EDT
 
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* TSX up 76.88 points, or 0.5 percent, to 15,426.79

* Nine of the TSX's 10 main groups were up

TORONTO, June 1 (Reuters) - Canada's main stock index rose on Thursday in a broad rally led by steady oil prices that bolstered energy stocks, and a surge in BlackBerry Ltd shares.

BlackBerry was among the most influential gainers, jumping 8.3 percent to C$15.46 after Citron Research said it had a 24-month price target of $20 on the stock on expectations the software company will profit from the increasing application of its security and other software technology in various industries, such as automotive.

The overall technology sector rose 1.1 percent.

At 10:49 a.m. ET (1449 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 76.88 points, or 0.5 percent, to 15,426.79.

Of the index's 10 main groups, only materials, hurt by falling metal prices, retreated.

The energy group climbed 1.0 percent. Enbridge Inc was the most influential advancer in the group, rising 0.9 percent to C$52.49.

The price of oil, a key Canadian export, was steady a day after diving 3 percent on higher OPEC crude output, after an industry report showed U.S. crude stockpiles had fallen more than expected.   Continued...