Markets

TSX slips, BlackBerry surges after earnings beat

Published December 20, 2017 Updated December 20, 2017 09:11pm

At 10 a.m. EST (1500 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 2.74 points, or 0.02 percent, to 16,130.61.

BlackBerry jumped as much as 13.6 percent to its highest since May 2013 after beating analysts' earnings estimates with strong business software sales and licensing revenue. It was last up 10 percent at C$15.37.

That gain boosted the technology sector, but seven of the other 10 main groups in the index fell, with energy down 0.3 percent despite higher oil prices. Brent oil rose 0.3 percent.

Telecommunications stocks fell 0.8 percent, consumer staples were down 0.7 percent, while consumer discretionary names lost 0.1 percent.

The heavyweight financials group was flat and the materials group, which includes precious and base metals miners and fertilizer companies, added 0.1 percent.

Advancers barely outnumbered decliners overall.

 

Copyright Reuters, 2017