(Adds strategist comment, updates prices to close)
* TSX ends up 14.37 points, or 0.11 percent, at 13,024.30
* Six of the TSX’s 10 main groups gain
By Alastair Sharp
TORONTO, Dec 18 (Reuters) - Canada’s main stock index crawled higher on Friday as the energy sector gained despite slipping oil prices, offsetting weakness among financial stocks as investors also scooped up shares of companies that have taken a beating recently.
Toronto-listed shares of BlackBerry jumped 10.5 percent to C$12.03 as the company’s pivot to software began to show traction and it reported its first quarter-to-quarter revenue increase in more than two years.
Bombardier also got a boost after it received certification for its CSeries 110-seater plane. Its shares rose 16.2 percent to C$1.36.
Separately, a source told Reuters that Pierre Beaudoin is expected to step down as executive chairman of the company in early 2016.
Meanwhile, the materials sector gained 2.8 percent as gold and copper prices rallied and energy stocks added 1.9 percent, despite oil falling on the day and notching a third straight weekly loss.
Canadian Natural Resources was the biggest lift on the index, rising 3.3 percent to C$29.15, while Suncor Energy added 1.6 percent to C$35.99.
The energy sector gained nearly 1 percent for the week, its first increase in six weeks, but the group is still down more than 10 percent in December.
“It’s too easy to make a bearish case and too difficult to make a bullish case at this point in time, on energy and on the broad market,” said Philip Petursson, managing director of capital markets and strategy at Manulife Asset Management.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 14.37 points, or 0.11 percent, at 13,024.30.
The financial group fell 0.8 percent, with Bank of Nova Scotia down 1.8 percent at C$56.14 and Brookfield Asset Management off 1.8 percent at C$43.79.
Despite the day’s gain, investors should not take too much relief from the rebound in energy stocks just yet, said Bryden Teich, associate portfolio manager at Avenue Investment Management.
“Heading into next year, oil is still going to be under pressure,” Teich said. “I think there’s room for another leg down here as we head into 2016.”
Of the index’s 10 main groups, six notched gains.
Gold companies were boosted by a rebound in the precious metal to $1,065.86 an ounce, with Barrick Gold up 4.1 percent at C$10.09. (Additional reporting by Leah Schnurr; Editing by Lisa Von Ahn and James Dalgleish)