September 5, 2013 / 2:59 PM / 6 years ago

CANADA STOCKS-TSX climbs for third day on BlackBerry, upbeat data

* TSX rises 27.63 points, or 0.22 percent, to 12,785.44
    * Seven of 10 main index sectors advance
    * RBC has biggest positive influence on the market
    * BlackBerry up more than 2 percent on buyout speculation

    By John Tilak
    TORONTO, Sept 5 (Reuters) - Canada's main stock index
advanced for a third straight session on Thursday after positive
economic data boosted broad gains across most major sectors and
speculation about a potential sale lifted BlackBerry.
    BlackBerry shares climbed more than 2 percent after a report
from the Wall Street Journal said on Wednesday the smartphone
maker's board hopes to run a "fast" auction process that could
result in a sale of the company by November. 
    The market also processed news that a U.S. Senate committee
had approved limited U.S. military intervention in Syria, as
well as moves by some central banks to hold interest rates
steady. [ID: nL2N0H01MB]
    Data showed U.S. private employers added jobs in August, and
new claims for jobless benefits fell last week. A separate
report said the U.S. services sector grew in August at its
fastest pace in almost eight years. 
    Investors contemplated the Federal Reserve's next monetary
policy move as they looked to Friday's U.S. nonfarm payroll
report, seen as a major indicator of the economy's health.
    "Expectations of immediate tapering in the (Fed's) September
meeting might be a little aggressive," said Colin Cieszynski,
senior market analyst at CMC Markets Canada.
    "My suspicion is that you will see them talk about tapering
in September, but I don't think they'll actually do anything,"
he added. It could more likely happen in October, he said.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 27.63 points, or 0.22 percent, at 12,785.44.
    Seven of the 10 main sectors on the index were higher.
    Financials, the index's most heavily weighted sector, rose
0.5 percent. Royal Bank of Canada added 0.7 percent to
C$65.93 and had the biggest positive influence on the market;
Toronto Dominion Bank was up 0.6 percent, at C$90.85.
    Shares of energy companies reflected gains in the price of
U.S. crude oil, adding 0.4 percent.
    Suncor Energy Inc rose 0.4 percent to C$35.97, and
Encana Corp advanced 0.7 percent to C$18.21. 
    But the materials sector, which includes mining stocks, gave
back 0.7 percent on weakness in gold producers. Gold mining
shares tumbled 1.4 percent as the bullion price weakened. 
    Goldcorp Inc slipped 1 percent to C$31.18, and
Barrick Gold Corp lost 1 percent to C$20.19.
    BlackBerry was up at C$11.52, helping the information
technology group gain almost 1 percent.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below