CANADA STOCKS-TSX sets all-time high close on BlackBerry, miners

Thu Jun 19, 2014 4:58pm EDT

* TSX edges up 2.97 points, or 0.02 percent, to 15,112.22
    * Record closing high despite 8 of 10 main index sectors
declining
    * BlackBerry jumps 9.3 percent after reporting results

    By John Tilak
    TORONTO, June 19 (Reuters) - Canada's main stock index
notched its highest ever close on Thursday as gains in
BlackBerry, following the smartphone maker's quarterly
results, and in gold mining shares helped overcome weakness in
the broader market.
    BlackBerry shares shot up 9.3 percent after the company
reported a smaller-than-expected quarterly loss as its
cost-cutting campaign and other turnaround efforts looked as if
they were starting to pay off. 
    An advance of 4.8 percent in gold miners' shares, which
tracked a soaring bullion price, also provided support.
    The Toronto Stock Exchange's S&P/TSX composite index
 unofficially closed up 2.97 points, or 0.02 percent,
at 15,112.22.
    The benchmark has climbed about 11 percent this year and is
just shy of its record intraday high. But the recent gains have
made investors take a closer look at share prices to see if they
might have run ahead of themselves.
    "In this type of environment, investors are going to look
around and see which groups are leveraged to global growth and
still trading at attractive valuations," said Elvis Picardo,
strategist and vice president of research at Global Securities
in Vancouver.
    The materials group, which includes mining shares, looks
very appealing on that basis, he added.
    Eight of the 10 main sectors on the index ended in the red
on Thursday.
    Financials, the index's most heavily weighted sector,
dropped 0.3 percent. Bank of Nova Scotia lost 0.6
percent to C$70.78, and Toronto-Dominion Bank declined
0.2 percent to C$54.72.
    Shares of energy producers gave back 0.2 percent, with
Suncor Energy Inc shedding 0.8 percent to C$45.94.
    Among gold miners, Goldcorp Inc added 4.8 percent to
C$29.65, and Barrick Gold Corp gained 3.3 percent to
C$19.50.
    ($1=$1.08 Canadian)

 (Editing by Peter Galloway and G Crosse)
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