Bloomberg News

Canadian Stocks Fall as BlackBerry, Gold Producers Slump

February 11, 2013

Canadian stocks fell as BlackBerry reportedly lost a major U.S. corporate customer and gold producers slumped amid declining prices for the metal

BlackBerry, formerly known as Research In Motion Ltd., dropped 5.9 percent after Home Depot Inc. said in a statement to AppleInsider it was swapping 10,000 BlackBerry smartphones for Apple Inc.’s iPhone. Cameco Corp. slipped 3.2 percent after reporting declining fourth-quarter earnings. Barrick Gold Corp. and Goldcorp Inc. dropped at least 1.4 percent as the price of gold fell to a one-month low. Karnalyte Resources Inc. jumped 1.1 percent after receiving government environmental approval for its potash project in Saskatchewan.

The Standard & Poor’s/TSX Composite Index fell 10.98 points, or 0.1 percent, to 12,790.25 at 10:05 a.m. in Toronto. The S&P/TSX has risen 3.2 percent over the past 12 months, underperforming every developed market in the world except Italy and Spain, according to data compiled by Bloomberg.

To contact the reporter on this story: Eric Lam in Toronto at elam87@bloomberg.net

To contact the editor responsible for this story:


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