CANADA STOCKS-TSX up on energy and industrials; BlackBerry falls

Tue May 14, 2013 5:05pm EDT

* TSX rises 47.50 points, or 0.38 pct, to 12,577.05
    * Seven of the 10 main groups advance
    * Decline in BlackBerry drags on tech sector


    By Cameron French
    TORONTO, May 14 (Reuters) - Toronto's main stock index rose
on Tuesday, as energy and industrial stocks rose in tandem with
gains in U.S. stocks,  more than offsetting pullbacks in key
stocks such as BlackBerry and Bombardier Inc.
    Energy stocks, which suffered steep losses in April, rose
0.67 percent despite a retreat in the price of oil, helped by
the continued momentum in U.S. stock indexes.
    Husky Energy gained 2.2 percent to C$30.60, while
sector heavy weight Suncor Energy rose 1.2 percent to
C$32.42.
    The smaller industrials subgroup charged ahead 1.83 percent,
led by airlines and railroads. Westjet Airlines Ltd 
surged 4.9 percent to C$21.77, while Canadian Pacific Railway
 jumped 4.4 percent to C$136.91.
    The Toronto Stock Exchange's S&P/TSX composite index
 rose 47.50 points, or 0.38 percent, to 12,577.05.
Seven of the index's 10 main subgroups rose during the session.
    U.S. stocks extended gains, and the S&P 500 and Dow
Jones Industrial touched new intraday highs .
 
    The TSX has underperformed U.S. stock over the past year due
in part to the Canadian index's much higher weighting of
commodities. But since mid April, the TSX has followed the U.S.
indexes higher.
    "I think that there could be a help from the U.S. ... but I
think it's also maybe a little bit of a 'enough's enough' in
some of these stocks," said John Kinsey, a portfolio manager at
Caldwell Securities.
    The information technology group sank 0.63 percent, weighed
down by BlackBerry. The smartphone maker dropped 3.1 percent to
C$15.55 as the company unveiled a new mid-tier smartphone.
 
    Bombardier slid 1.7 percent to C$4.55, falling hard for a
second straight day, though the stock had risen 15 percent last
week on optimism about the company's new CSeries jetliner.
    Rona Inc, Canada's top home improvement retailer
and distributor, dropped 4.8 percent to C$10.12 after posting a
deeper quarterly loss as it grappled with restructuring charges
and difficult market conditions.