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CANADA STOCKS-TSX little changed as resource shares rebound

Published 2015-12-18, 11:04 a/m
CANADA STOCKS-TSX little changed as resource shares rebound
XAU/USD
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BB
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GSPTSE
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CNQ
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* TSX down 6.79 points, or 0.05 percent, at 13,003.14
* Six of the TSX's 10 main groups lower

By Leah Schnurr
OTTAWA, Dec 18 (Reuters) - Canada's main stock index was
little changed on Friday as the energy sector rebounded
alongside oil prices and as investors scooped up shares of
companies that have taken a beating recently.
Toronto-listed shares of BlackBerry BB.TO jumped after the
company reported its first quarter-to-quarter revenue gain in
more than two years, suggesting turnaround efforts may be
gaining traction. BlackBerry rose 10.1 percent to
C$11.99
Bombardier BBDb.TO also got a boost after it received
certification for its CSeries 110-seater plane. Its shares rose
12.8 percent to C$1.32.
Separately, a source told Reuters that Pierre Beaudoin is
expected to step down as executive chairman of the company in
early 2016.
But the biggest advancers were the materials sector, which
gained 2.7 percent, and energy, up 1.7 percent.
Canadian Natural Resources CNQ.TO was the biggest lift on
the index, rising 2.6 percent to C$28.96. U.S. crude CLc1
prices were up 1.0 percent at $35.29 a barrel. O/R
The energy sector is on track to gain nearly 1 percent for
the week, its first increase in six weeks. For the month
overall, the group is still down more than 10 percent.
Despite the day's gain, investors should not take too much
relief from the rebound in energy just yet, said Bryden Teich,
associate portfolio manager at Avenue Investment Management.
"Heading into next year, oil is still going to be under
pressure," Teich said. "I think there's room for another leg
down here as we head into 2016."
At 10:43 a.m. EST (1543 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down at 6.79 points, or
0.05 percent, at 13,003.14.
Of the index's 10 main groups, six were in negative
territory.
Gold companies were boosted by a rebound in the precious
metal, with Goldcorp G.TO rising 3.9 percent to C$15.85, and
Barrick Gold ABX.TO up 3.5 percent at C$10.03.
Gold futures GCc1 rose 1.7 percent to $1,068.40 an ounce.
GOL/
Advancing issues outnumbered declining ones on the TSX by
135 to 101, for a 1.34-to-1 ratio on the upside.
The index was posting two new 52-week highs and seven new
lows.

(Editing by Lisa Von Ahn)

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