Bloomberg News

Canadian Stocks Rise as Energy Shares, BlackBerry Rally

February 05, 2013

Canadian stocks rose, after the benchmark index followed global equities lower yesterday, as BlackBerry surged and energy shares rallied amid a recovery in oil prices.

BlackBerry, formerly known as Research in Motion, jumped 9.3 percent after wireless carrier BCE Inc. said the Z10 smartphone has attracted record orders. Westjet Airlines Ltd. advanced 1.4 percent on record capacity levels in January. New Gold Inc. added 0.7 percent after reporting that fourth-quarter gold production climbed.

The Standard & Poor’s/TSX Composite Index (SPTSX) climbed 27.57 points, or 0.2 percent, to 12,745.19 at 10:35 a.m. in Toronto. The benchmark gauge dropped 0.4 percent yesterday. It has gained 2.5 percent this year.

Global equities rebounded today after yesterday’s slump sparked by renewed concern that Europe’s debt crisis will intensify. Italian two-year notes recovered after yields reached a one-month high. Oil advanced 0.8 percent after the biggest loss in two months.

To contact the reporter on this story: Sarah Pringle in New York at springle1@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net


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