CANADA STOCKS-TSX climbs as Bombardier, BlackBerry lead gains

Fri Sep 26, 2014 11:05am EDT
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* TSX up 41.87 points, or 0.28 percent, at 14,935.44
    * Seven of 10 main index sectors advance
    * BlackBerry jumps after reporting results

    By John Tilak
    TORONTO, Sept 26 (Reuters) - Canada's main stock index
advanced in choppy trading on Friday, recovering slightly from a
sharp selloff in the previous session, led by gains in shares of
Bombardier Inc and BlackBerry.
    Bombardier jumped 4.3 percent after saying that aircraft
leasing company Macquarie AirFinance had signed an agreement to
buy 40 of its new CSeries jets, with an option for 10 more.
    BlackBerry shot up 8.7 percent after the company reported a
much smaller-than-expected quarterly loss and said it was
concentrating on growth and investments. 
    Investors were also encouraged by data that showed the U.S.
economy grew at its fastest pace in 2-1/2 years in the second
    The benchmark TSX, which slipped in each of the last five
sessions, looked on track to record its biggest weekly decline
in about a year. It is down nearly 5 percent from the record
high it hit earlier this month.
    "The market could hold here. If it does hold, I could see it
go back and test the old highs," said David Cockfield, managing
director and portfolio manager at Northland Wealth Management.
    "There's no major economic event that has happened that
could justify a more severe correction," he added. "We think we
have enough of an economic growth pattern to keep the market
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 41.87 points, or 0.28 percent, at 14,935.44.
Seven of the 10 main sectors on the index were higher.
    Shares of energy producers climbed 0.6 percent, with the
price of U.S. crude oil showing a similar gain. Canadian Natural
Resources Ltd advanced 1 percent to C$43.65, and Suncor
Energy Inc rose 0.8 percent to C$40.61.
    The gold-mining sector shed 1.2 percent, reflecting weakness
in the bullion price. Goldcorp Inc lost 1.4 percent to
C$26.03, and Barrick Gold Corp fell 0.9 percent to

 (Editing by Tom Brown)