August 12, 2013 / 3:13 PM / 6 years ago

CANADA STOCKS-TSX advances as gold miners, BlackBerry rally

* TSX rises 37.23 points, or 0.30 percent, to 12,579.36
    * Seven of 10 main index sectors decline
    * Gold mining stocks surge 4 percent
    * BlackBerry gains 5 percent on plan to explore strategic

    By John Tilak
    TORONTO, Aug 12 (Reuters) - Canada's main stock index
climbed on Monday, boosted by gains in gold producers and a jump
in shares of BlackBerry after the smartphone maker said
it was exploring strategic alternatives.
    Bullion rose 2 percent to a near three-week high as positive
sentiment extended to a fourth straight session, and gold miners
soared 4 percent.  
    Investors also followed data showing Japan's economic growth
slowed more than expected in the second quarter, a third
straight quarter of expansion but below market expectations.
    BlackBerry said it has set up a committee to look at
options, including joint ventures, partnerships or a sale of the
company. The stock rose about 5 percent. 
    "Somewhere along the way, somebody will be interested in
either becoming an owner of BlackBerry or a partner with
BlackBerry," said Fred Ketchen, director of equity trading at
    "Hopefully, the committee will be able to put a little bit
of vigor into the company."
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 37.23 points, or 0.30 percent, at 12,579.36.  
    While seven of the 10 main sectors on the index were lower,
gains in the materials and information technology groups helped
keep the market in positive territory.
    The jump in gold miners pushed the materials sector up 2.6
    "Gold has been under some pressure for a while, and maybe
it's time that the price of gold settles down and establishes
some kind of floor," Ketchen said.
    Goldcorp Inc climbed 4.4 percent to C$29.23 and
Barrick Gold Corp rose 4.2 percent to C$18.76.
    BlackBerry jumped to C$10.54, helping lift the information
technology sector up 1.1 percent.
    But financials, the index's most heavily weighted sector,
were down 0.2 percent, with Royal Bank of Canada losing
0.2 percent to C$63.58.
    Shares of energy producers declined 0.4 percent. They
mirrored a decline in the price of oil. Canadian Natural
Resources Ltd was down 1.2 percent at C$31.01.
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