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TSX set for best quarter in nearly 10 years; BlackBerry jumps

Published 2019-03-29, 10:32 a/m
© Reuters.  TSX set for best quarter in nearly 10 years; BlackBerry jumps
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March 29 (Reuters) - Canada's main stock index was trading flat on Friday, as losses in heavyweight financials offset gains in energy stocks and BlackBerry BB.TO shares.

* TSX was poised for its biggest quarterly rise since the second quarter of 2009.

* At 9:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 3.89 points, or 0.02 percent, at 16,159.38.

* On the economic front, the latest Statistics Canada report showed that the domestic economy grew by 0.3 percent in January from December, offsetting the declines of the last two months. Shares of BlackBerry Ltd BB.TO rose about 14 percent, leading the gains on the TSX, after the company topped quarterly profit estimates, helped by a sharp rise in fees for licensing and using its technologies as it develops more software and solutions for customers. The energy sector .SPTTEN climbed 0.9 percent as U.S. crude CLc1 prices were up 1.9 percent a barrel, while Brent crude LCOc1 added 1.2 percent. O/R

* The financials sector .SPTTFS , which accounts for about a third of the main index's weight, slipped 0.2 percent. The industrials sector .GSPTTIN dipped 0.1 percent.

* The materials sector .GSPTTMT , which includes precious and base metal miners and fertilizer companies, added 0.5 percent as gold futures GCc1 rose 0.7 percent to $1,298.5 an ounce. GOL/ MET/L

* On the TSX, 158 issues were higher, while 73 issues declined for a 2.16-to-1 ratio favouring gainers, with 14.05 million shares traded.

* Another large percentage gainer on the TSX, Ivanhoe Mines Ltd IVN.TO , rose 4.8 percent after brokerage CIBC raised the stock's price target.

* Shares of Wheaton Precious Metals Corp WPM.TO , leading decliner on the TSX, dropped 3.5 percent. The second-biggest drop was BRP Inc DOO.TO , down 2.4 percent.

* The most heavily traded shares by volume were Blackberry, Aurora Cannabis ACB.TO and CannTrust Holdings Inc TRST.TO .

* The TSX posted five new 52-week highs and no fresh one-year low.

* Across all Canadian issues, there were 14 new 52-week highs and four new lows, with total trading volume hitting 24.50 million shares.

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