TSX rises on BlackBerry's post-earnings boost

Dec 20, 2017

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Canada's main stock index gained on Wednesday as energy and mining stocks rose and BlackBerry Ltd (BB.TO) surged after its quarterly earnings beat expectations.

The Toronto Stock Exchange's S&P/TSX composite index closed up 26.32 points, or 0.16 per cent, at 16,159.67.

BlackBerry jumped as much as 13.6 per cent to its highest level since May 2013 after beating analysts' earnings estimates with strong enterprise software sales and licensing revenue. It ended up 11.6 per cent at $15.59.

The energy group climbed 1.9 per cent, with Encana Corp (ECA.TO) jumping 7.2 per cent to $15.46 and Canadian Natural Resources Ltd (CNQ.TO) adding 0.9 per cent to $43.90, as oil prices rose.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.2 per cent. Teck Resources Ltd (TECKb.TO) rose 2.8 per cent to $31.75 and First Quantum Minerals Ltd (FM.TO) was up 3.3 per cent at $17.47 as copper prices hit a two-month high.

The two natural resource groups combined account for 30 per cent of the index's weight.

Six of the index's 10 main groups fell, while advancers outnumbered decliners by a 1.3-to-1 ratio overall.