CANADA STOCKS-Energy shares pull TSX lower; BlackBerry jumps

Thu Nov 13, 2014 5:17pm EST
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* TSX down 77.43 points, or 0.52 percent, at 14,778.77
    * Five of 10 main index sectors advance
    * Manulife slips after reporting results
    * BlackBerry surges on partnership with Samsung

    By John Tilak
    TORONTO, Nov 13 (Reuters) - Canada's benchmark stock index
dropped on Thursday as sluggish economic data in China raised
concerns about growth in the world's second-biggest economy and
shares of energy producers tumbled with oil prices.
    But BlackBerry Ltd shot up 7.7 percent after the
company entered into a partnership deal with Samsung Electronics
Co Ltd.
    Figures showed that China's factory growth fell in October
and investment growth hit a near 13-year low. 
    Brent crude oil dropped to a four-year low, hit by the data
from China, a top energy consumer, and news that Saudi Arabia
was mum about a possible cut in production. 
    "Canada, being energy-heavy, is weighed by the fall in oil,"
said Marcus Xu, president and portfolio manager at M.Y. Capital
Management Corp in Vancouver. "But if you are a long-term
investor, it's not a bad idea to stay with energy stocks."
    "I wouldn't say that sentiment for Canadian stocks is too
good," he added. 
"We're still in a bear market for energy prices, though the
other parts of the index have been doing well."
    The Toronto Stock Exchange's S&P/TSX composite index
 closed down 77.43 points, or 0.52 percent, at
    The benchmark TSX slipped after recording gains in each of
the previous six sessions.
    Shares of energy producers shed 2.9 percent. Canadian
Natural Resources Ltd lost 1.7 percent to C$40.67, and
Suncor Energy Inc declined 3 percent to C$39.19.
    BlackBerry shares jumped 7.7 percent to end at C$13.74,
helping drive a 2.1 percent gain in the information technology
    The company struck partnerships with Samsung and other
high-profile players to enhance the capabilities of the new
mobile-device management and security platform it unveiled on
    Manulife Financial Corp fell 0.3 percent after
reporting slightly lower-than-expected third-quarter earnings as
weaker Canadian and U.S. insurance and wealth management sales
offset strong growth in Asia. 

 (Editing by G Crosse)