Wednesday, May 27th24.8°C
26383
25546

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

24910


Recent Trending




Today's Market
S&P TSX15110.47+59.66
S&P CDNX690.62-1.34
DJIA18162.99+121.45
Nasdaq5106.59+73.84
S&P 5002123.48+19.28
CDN Dollar0.8030-0.0012
Gold1187.40-16.90
Oil58.33-0.68
Lumber272.70-3.50
Natural Gas2.825+0.003

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.50-0.01
Cantex0.03-0.01
Anavex Life Sciences0.42-0.01
Metalex Ventures0.08-0.01
Russel Metals25.51+0.30
Copper Mountain Mining1.28+0.00
Colorado Resources0.11+0.01
ReliaBrand Inc0.0139+0.0059
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.155+0.005
Decisive Dividend Corporation2.10+0.16

 



26396

FEATURED Property
22926923124 Ensign Way
4 bedrooms 3 baths
$395,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



25991

25217


Member of BC Press Council


25771