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TSX Closes Off Day High; Blackberry In The News - Loses Ford Passengers, But Makes German Buy

By: MT Newswires
Posted: 7/29/2014 4:05:00 PM
Referenced Stocks: F;AAPL

Canada's main stock market, the Toronto Stock Exchange, Tuesday gained just one point at the close after hitting fresh intra-day record highs of 15506 points. The exchange was boosted by earnings from the likes of WestJet Airlines (WJA.TO) and Norbord (NBD.TO) among others.

Of commodities, gold prices dropped near US$5 in the regular U.S. trading session, largely on higher equity markets which hit demand for the metal as an alternative investment, but also on a higher U.S. dollar.

Bloomberg reported Tuesday afternoon that West Texas Intermediate oil fell to a two-week low on concern the shutdown of the Coffeyville refinery in Kansas may reduce crude demand. Bloomberg also reported that zinc dropped the most in six weeks in London amid speculation that a rally to the highest level since 2011 lifted prices too far.

Among stocks, Blackberry (BBRY, BB.TO) was down 4% on the TSX as Bloomberg reports that Ford Motor Co. ( F ) is deploying iPhones for corporate use to employees worldwide, scoring a win for Apple Inc. ( AAPL ) as it seeks to lure more corporate customers.

Earlier Tuesday, BlackBerry entered into an agreement to acquire Secusmart GmbH, into high-security voice and data encryption and anti-eavesdropping solutions for government organizations, enterprises and telecommunications service providers in Germany and internationally. A statement said the transaction is subject to the satisfaction of certain customary conditions, including the receipt of regulatory approvals. No financial details were given. The statement added BlackBerry and Secusmart have previously partnered to offer Secusmart's technology to customers that have the "most demanding" security needs.