Saturday, December 20th-0.3°C
24563
23943

TSX surges as BlackBerry 10 unveiled

The Toronto stock market surged ahead as Research In Motion Ltd. began to unveil its long-awaited BlackBerry 10 products and investors took in U.S. data showing a surprising weakening of the American economy in the fourth quarter.

The S&P/TSX composite index was 60.11 points higher to 12,890.67, led by the mining sector, while the TSX Venture Exchange was ahead 4.02 points to 1,235.94.

RIM (TSX:RIM) stock contributed to the positive showing, up almost four per cent as chief executive Thorsten Heins unveiled the BB10 and announced the company's corporate name would be changed to BlackBerry at a widely covered event in New York City.

The stock had declined over the past two sessions -- 3.4 per cent Tuesday and a 7.6 per cent drop on Monday. But that was viewed merely as profit taking as the stock has staged a huge comeback since hitting a fresh 52-week low of $6.10 last September. The shares were up about four per cent or 63 cents at C$16.29..

The U.S. Commerce Department reported Wednesday that the economy shrank by 0.1 per cent amid a plunge in defence spending, a 5.7 per cent drop in exports that analysts think was linked to Hurricane Sandy. The recession in parts of the eurozone also hurt performance. Economists had expected growth of 1.1 per cent in the October-December period.

The Canadian dollar slipped 0.24 of a cent to 99.52 cents US.

The Canadian Press


Read more Business News

24376


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


21297

FEATURED Property
2107291DOUBLE WIDE RENOVATED MOBILE HOME IN PARK, 159,000 obo WEST KELOWNA B.C.
$149,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24437

24437


Member of BC Press Council


23871