Thursday, April 24th6.6°C
21725
21298

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 TSX14554.25+20.86
S&P CDNX1014.453.47
DJIA16501.650.00
Nasdaq4148.338+21.372
S&P 5001878.61+3.22
CDN Dollar0.9067-0.0007
Gold1291.30+7.1001
Oil102.15-2.22
Lumber334.30+2.40
Natural Gas4.709+0.004

 
Okanagan Companies
Pacific Safety0.11-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.35+0.13
Cantex0.05+0.005
Anavex Life Sciences0.36-0.02
Metalex Ventures0.075-0.005
Russel Metals31.48+0.18
Copper Mountain Mining2.49+0.16
Colorado Resources0.265-0.005
ReliaBrand Inc0.11+0.03
Sunrise Resources Ltd0.03+0.005
Mission Ready Services0.250.00

 



21719

FEATURED Property
17529585231 67 Avenue
2 bedrooms 2 baths
$189,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


On living and dying

Our ability to live beyond our years has nothing to do with medical science; we will all live longer than our physical bodies, each of us will leave behind a personal legacy made up of our deeds, our ...


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...

_



21637




Member of BC Press Council


20573