September 25, 2009 / 8:36 PM / 8 years ago

CANADA STOCKS-TSX ends lower as RIM outweighs oils

 * TSX falls 73.37 points to 11,212.39
 * Ends week 2 percent lower
 * RIM shares tumble 16.8 percent  (Adds details, comments, official numbers)
 By Frank Pingue
 TORONTO, Sept 25 (Reuters) - Toronto’s main stock index ended lower on Friday in a move headlined by Research In Motion RIM.TO as investors reacted to an outlook by the company that fell short of analyst forecasts.
 Shares of the BlackBerry maker, by far the biggest drag on the index, slid 16.8 percent to C$75.04 and pulled the information technology group down 5.4 percent.
 The TSX managed to struggle back from session lows, but could not make its way back into positive territory given the impact of RIM, which posted quarterly earnings and outlook on Thursday that missed expectations [ID:nN24466680].
 The S&P/TSX composite index .GSPTSE closed down 73.37 points, or 0.65 percent, at 11,212.39. Earlier in the session it had fallen as much as 111 points to 11,174.61.
 RIM’s impact on the index was cushioned by energy shares, which rallied alongside higher oil prices, given tension around Iran’s nuclear program and improving consumer sentiment in the United States. [O/R]
 TransCanada (TRP.TO) rose 1 percent to C$33.73, while Canadian Natural Resources (CNQ.TO) ended up 0.9 percent at C$72.51.
 “We’ve managed to claw back some of the losses, and if it were not for RIM I think we would actually have been marginally on the plus side,” said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.
 For the week, the TSX ended down 2 percent.
 ($1=$1.09 Canadian)  (Reporting by Frank Pingue; editing by Rob Wilson)                                      

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