Canada Stocks Close Lower; Chinese PMI Generate Headwinds; Blackberry Most Active
Canadian stocks closed lower on Thursday, most sectors were down but Healthcare bucked the trend. Metals and Mining along with Info Tech were the worst performing sectors.
Stocks were weighed down by news that the Chinese economy contracted in January. The Chinese HSBC flash PMI dropped to below 50 for the first time in half a year, falling to 49.6 in January from 50.5 in December and missing consensus for a rise to 50.6.
Blackberry was the most active share on the TSX. Yesterday the company announced that in partnership with CBRE Limited, BlackBerry intends to strategically divest the majority of its commercial real estate portfolio through a combination of sale-leaseback and vacant asset sales. The properties to be offered for sale comprise over three million square feet of space. The stock closed down 3.0% with 7.5 million shares changing hands.
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