Saturday, March 28th11.3°C
24867
23613

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




Recent Trending




Today's Market
S&P TSX14812.42-57.38
S&P CDNX681.43+1.87
DJIA17712.66+34.43
Nasdaq4891.22+27.86
S&P 5002061.02+4.87
CDN Dollar0.7928-0.0082
Gold1196.30-8.80
Oil48.43-3.00
Lumber282.40-3.60
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.219+0.009
Metalex Ventures0.04-0.01
Russel Metals24.50-0.18
Copper Mountain Mining1.13+0.00
Colorado Resources0.125+0.010
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.255+0.020
Decisive Dividend Corporation1.80+0.02

 



25603

FEATURED Property
21711071616 Pritchard Drive
3 bedrooms 3 baths
$898,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...


Stay out of sales limbo!

Have you ever had a series of good meetings with a prospect … gathered all kinds of information … and given what you thought was a great presentation … only to receive a response ...

_








Member of BC Press Council


25322