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CANADA STOCKS-TSX rebounds on Fed, global growth outlook; BlackBerry falls

Published 2015-09-25, 11:22 a/m
© Reuters.  CANADA STOCKS-TSX rebounds on Fed, global growth outlook; BlackBerry falls
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(Updates throughout with market reaction, Blackberry)
* TSX up 115.03 points, or 0.86 percent, to 13,453.7
* Eight of the TSX's 10 main groups rise

By Solarina Ho
TORONTO, Sept 25 (Reuters) - Canada's main stock index rose
on Friday, recouping some of this week's losses, following
comments from the Federal Reserve that soothed broader concerns
about global growth and data that showed the U.S. economy,
Canada's largest trading partner, expanded more than forecast.
A fall in BlackBerry Ltd BB.TO shares modestly tempered
some of the gains, however. Shares fell 4.2 percent to C$8.97,
after the smartphone maker reported weaker-than-expected
quarterly results on Friday. ID:nL1N11V0HW
At 11:06 a.m. EDT (1506 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 115.03 points, or 0.86
percent, to 13,453.7.
Eight of the index's 10 key groups were in positive
territory. Advancing issues outnumbered declining ones on the
TSX by 153 to 79, for a 1.94-to-1 ratio on the upside.
The most influential positive movers on the index included
Canadian National Railway Co CNR.TO , which rose 2.5 percent to
C$74.97, and Toronto-Dominion Bank TD.TO , which advanced 1.5
percent to C$51.77.
The industrials group, home to CN Rail, climbed 1.8 percent,
while the heavyweight financials rallied 1.4 percent. Six of the
top 10 gainers carrying the most weight were financial names.
Energy stocks also saw a modest bounce, rising 0.2 percent,
alongside higher crude prices, with Suncor Energy SU.TO up 1.3
percent at C$34.92.
The resource-laden TSX has regularly tracked volatility in
commodity markets hit by concerns over global growth, and supply
and demand.
Among the decliners, gold miners were the worst hit. Stocks
tracked gold prices that slumped after comments from Fed chair
Janet Yellen boosted the U.S. dollar. GOL/
Barrick Gold Corp ABX.TO gave back 2.0 percent to C$8.55.
The overall materials group retreated 0.8 percent.

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