CANADA STOCKS-TSX nears three-year high on BlackBerry, U.S. data
* TSX rises 56.79 points, or 0.40 percent, to 14,176.52 * Nine of 10 main index sectors advance * BlackBerry jumps almost 4 percent after Facebook move * TransCanada slips 1.8 percent By John Tilak TORONTO, Feb 20 (Reuters) - Canada's main stock index rose on Thursday to its highest in nearly 3 years as positive U.S. economic data boosted sentiment and Facebook Inc's planned acquisition of mobile-messaging service WhatsApp lifted BlackBerry. The move by Facebook raised investor hopes that BlackBerry's own messaging platform might have been undervalued. Shares of the smartphone maker jumped nearly 4 percent. In the United States, Canada's main export market, manufacturing activity picked up its pace in February to record its fastest growth in nearly four years and separate data indicated that the number of Americans filing new claims for unemployment benefits fell last week. "We think the U.S. will lead global growth," said Andy Nasr, managing director and senior portfolio manager at Middlefield Capital, of the recent wave of economic data. "It does make sense to stay closer to home. That's probably the message." The Toronto market, which is benefiting from increased optimism for equities, climbed for a 12th straight session and has gained about 4 percent this year. "You're starting to see more money flow into the energy sector and the materials sector," Nasr added. "That's creating a bit of enthusiasm for Canadian stocks." The Toronto Stock Exchange's S&P/TSX composite index was up 56.79 points, or 0.40 percent, at 14,176.52. Nine of the 10 main sectors on the index were higher. Financials, the index's most heavily weighted sector, added 0.4 percent. Royal Bank of Canada rose 0.7 percent to C$72.86, and Toronto Dominion Bank gained 0.6 percent to C$49.79. The materials sector, which includes mining stocks, jumped 1.7 percent. Barrick Gold Corp shot up 3.6 percent to C$22.70, and Goldcorp Inc gained 1.9 percent to C$30.06. In other corporate news, TransCanada Corp said it is considering how to proceed with its Keystone XL pipeline, a day after a court voided the Nebraska governor's decision to allow the controversial line to pass through the Midwestern state. The stock gave back 1.8 percent, to C$48.98.
- Thousands of Gaza civilians flee after Israeli warning |
- Three dead, two wounded in Pasadena, California shootings
- Russia threatens Ukraine after shell crosses border
- Teen survivor of Texas shootings says slain family members 'in much better place'
- UPDATE 2-Thousands of Gaza civilians flee after Israeli warning