CANADA STOCKS-TSX edges up, on track for quarterly gain

Fri Mar 30, 2012 11:23am EDT
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* TSX hits high of 12,433.3
    * All 10 main sectors higher
    * RIM shares gain; reports quarterly loss

    By Jennifer Kwan	
    TORONTO, March 30 (Reuters) - Toronto's main stock index was
higher o n F riday after falling for three straight sessions, led
by firm commodity prices as the resource-heavy market was on
track to notch its best quarterly gain in a year.	
    In mixed trade, the market's key pillars, materials and
financials, fought to push it higher, supported by reassuring
measures to prevent the euro zone's sovereign debt crisis from
    The Toronto Stock Exchange's S&P/TSX composite index
 rose to a high of 12,433.31.	
    John Kinsey, portfolio manager at Caldwell Securities, said
it was not surprising to see the Toronto index notch some gains
given the recent string of losses.	
    "We've had three down days. This is the last day of the
quarter and we would expect that there would be a little bit of
a rally here," he said.	
    Overseas markets set the broader tone and rose, in part,
after the euro zone raised the combined lending ceiling for its
two bailout funds to 700 billion euros on Fr iday from 500
billion previously. 	
    By 11:15 a.m. (15:15 GMT), the Toronto index was up 63.81
points, or 0.52 percent, at 12,403.17, with all of its 10 main
sectors higher. The index had briefly dipped into negative
    The index is set for a 3.5 percent gain, the best quarterly
performance since March 2011.	
    Research in Motion was among the most heavily
traded stocks on the market, and its shares climbed 1.2 percent
to C$13.86, as investors were heartened by a shake up at the
company, said Kinsey.	
    The BlackBerry maker faces a tough year ahead as competition
heightens for its products. Analysts have slashed price targets
on the stock after the company posted a loss and said BlackBerry
shipments fell for the holiday quarter. RIM said several senior
executives, including former co-CEO and current director Jim
Balsillie, will depart. 	
    Big names on the upside included Potash Corp, up
0.5 percent at C$45.18, and Goldcorp, which gained 0.4
percent at C$44.49. Canadian Natural Resources climbed
0.7 percent to C$32.70. Oil, gold and base metals were all
firmer, supporting moves higher in resource shares. GOL/]