Canadian stocks are up close to 55 points Friday afternoon -
which is what the index gained yesterday. The index gained around
80 points in total over the last two trading sessions.
Energy stocks by far are the day's best performers, with the
sector up more than 1% as a group. Among the energy companies
posting outsized gains are Crew Energy (CR.TO), rising over 7%, and
Petrobank Energy and Resources (PBG.TO), up 3% in moving a bit
further away from year lows. There is no company-specific news
behind either gain, although PBG yesterday mid-morning requested a
temporary trading halt presumedly for an announcement only to
resume trading just four minutes later.
Tech stocks are leading shares in the opposite direction,
including a 2% decline for Blackberry Inc (BB.TO, BBRY). The stock
closed lower yesterday too as investors and traders try to figure
out if the company can increase its market share in the face of
increased competition from Samsung's latest smartphone offering.
The euphoria that led to the stock jumping 8% Wednesday has faded -
those gains cam amid news that it had sold 1 million smartphones to
an existing client.
In other company news today, Barrick Gold Corp. (ABX.TO,ABX) is
up about 0.3% but still near year lows after late yesteday saying a
shipment of gold from one of its biggest mines has been detained by
customs officials in the Dominican Republic. The seizure comes just
weeks after the Dominican government said it wants more taxes from
the massive Pueblo Viejo gold mine, co-owned by Barrick and
Goldcorp Inc. (G.TO, GG) GG shares are up about 0.2%.
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