September 25, 2013 / 3:42 PM / 6 years ago

CANADA STOCKS-TSX edges higher on resource gains; BlackBerry slips

* TSX rises 20.49 points, or 0.16 percent, to 12,869.38
    * Six of 10 main index sectors advance
    * Suncor has biggest positive influence on market
    * BlackBerry drops after investors have doubts about deal

    By John Tilak
    TORONTO, Sept 25 (Reuters) - Canada's main stock index
advanced on Wednesday, led by gains in the natural resource
sectors, as investors mulled budget talks in Washington and when
the U.S. Federal Reserve's monetary policy might change.
    BlackBerry shares gave back nearly 3 percent as
skepticism grew about the financing of a takeover deal it
announced earlier this week. 
    Investors also digested data showing orders for long-lasting
U.S. manufactured goods barely grew in August, as well as a
report indicating sales of new single-family homes in America
rose in August but held near their lowest levels this year.
    Investors hoped for a resolution of the U.S. budget battle 
and more clarity about the Fed's stimulus program.
    "There will be brinkmanship," said Sal Masionis, a
stockbroker at Brant Securities, of the budget negotiations.
"That's not good for the market. The market hates brinkmanship
and uncertainty."
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 20.49 points, or 0.16 percent, at 12,869.38.
Six of the 10 main sectors on the index were in the red.
    Masionis sees the uncertainty weighing on the Canadian
market but added that there could be a rally towards the end of
the year.
    The materials sector, which includes mining stocks, added
0.7 percent.
    Teck Resources Ltd jumped 1.8 percent to C$28.70,
and Goldcorp Inc climbed 1.1 percent to C$26.67.
    Shares of energy producers benefited from a higher oil
price, rising 0.5 percent.
    Suncor Energy Inc climbed 1 percent to C$36.99,
having the biggest positive influence on the market. Canadian
Natural Resources Ltd advanced 0.9 percent to C$32.45.
    But shares of telecoms providers declined 0.7 percent. Telus
Corp gave back 1.6 percent to C$34.98, and BCE Inc
 fell 0.6 percent to C$44.31.
    BlackBerry slipped to C$8.53 after a Globe and Mail report
said Fairfax Financial Holdings Ltd was seeking more
than $1 billion in equity investments from institutional
investors to back its preliminary $4.7 billion plan to acquire
the smartphone maker.
    The report cited unnamed sources saying that as of Tuesday
only one pension fund, the Ontario Teachers' Pension Plan, was
seriously considering joining a takeover consortium. Teachers
declined to comment on the report.
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