CANADA STOCKS-TSX snaps back on U.S. data as BlackBerry, Bombardier rise

Fri Sep 26, 2014 4:40pm EDT
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* TSX up 133.2 points, or 0.89 percent, at 15,026.77
    * Nine of the 10 main index sectors advance
    * BlackBerry jumps after reporting results
    * Bombardier climbs on deal for new CSeries jet orders

    By John Tilak
    TORONTO, Sept 26 (Reuters) - Canada's main stock index
jumped in choppy trading on Friday, recovering from a sharp
selloff the previous session, as U.S. economic data helped drive
    Advances in shares of Bombardier Inc and
BlackBerry provided further support.
    BlackBerry shot up 5.2 percent after the company reported a
much smaller-than-expected quarterly loss and flashed
encouraging signals about its hard-pressed smartphone business
as well as its software and services sales. 
    Bombardier jumped 3.7 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.
    Investors were encouraged by data that showed the U.S.
economy grew at its fastest pace in 2-1/2 years in the second
    The Toronto stock market's benchmark TSX index, which had
dropped in each of the previous five sessions, recorded its
fourth straight weekly decline. It is down more than 4 percent
from the record high it hit earlier this month.
    "After a very volatile week, it looks like bargain hunters
are coming into the market," said Youssef Zohny, portfolio
manager at Stenner Investment Partners of Richardson GMP Ltd,
which manages about C$28.3 billion in assets.
    He said the recent rally in the U.S. dollar weighed heavily
on commodity prices, which in turn hit shares of Canadian
natural resource producers.
    "If we see some stability on the currency front, we could
see commodity prices starting to rebound," Zohny said.
    The Toronto Stock Exchange's S&P/TSX composite index
 ended up 133.2 points, or 0.89 percent, at 15,026.77.
Nine of the 10 main sectors on the index were higher.
    Shares of energy producers climbed 1.5 percent, following
the price of U.S. crude oil higher. Canadian Natural Resources
Ltd advanced 2.6 percent to C$44.33, and Suncor Energy
Inc rose 1 percent to C$40.69.
    The gold-mining sector shed 0.9 percent, reflecting weakness
in the bullion price. Goldcorp Inc slipped 0.6 percent to
C$26.24, and Barrick Gold Corp fell 0.5 percent to
    ($1=$1.11 Canadian)

 (With additional reporting by Jeffrey Hodgson; Editing by Tom
Brown; and Peter Galloway)