Markets

Canada Stocks Lose 1% Despite Gains For Likes of Bombardier; Boosted By News Of Sales To Established Partner

Canada's main stock market, the Toronto Stock Exchange, ended the day in much the same way as it started. Well down on profit taking after hitting 19 month highs Tuesday, but with the three most active stocks - and all but one of the top five in activity - higher.

It closed Wednesday down 1% or 134.5 points.

The three most active stocks at the close were - TORC Oil & Gas (TOG.TO), up 2.5% with 28.5 million shares traded; Blackberry (BB.TO), up 8% with more than 10 million shares traded; and Bombardier (BBD-B.TO), up 1.5% and close to year highs with 7 million shares traded.

B2Gold (BTO.TO) closed fourth most active, but lower, having been higher and third most active earlier. TOG and BTO were the main winners yesterday too.

Blackberry recovered from early losses despite Lenova saying it hasn't taken any action to assess BlackBerry as an acquisition, according to a Bloomberg report. BlackBerry announced late in the day that one of its established partners has placed an order for one million BlackBerry 10 smartphones, with shipments starting immediately. This order marks the largest ever single purchase order in BlackBerry's history.

MarketWatch reported: "Gold futures settled with a modest loss Wednesday as the U.S. dollar climbed to a seven-month high. Gold gave back a small portion of the previous session's gain and failed at an attempt to breach $1,600 an ounce." It said: "April gold fell $3.30, or 0.2%, to settle at $1,588.40 an ounce on the Comex division of the New York Mercantile Exchange after a 0.9% climb on Tuesday. Strength in the dollar on the back of better-than-expected U.S. retail sales in February dulled demand for dollar-denominated commodities, including gold."

MarketWatch also reported: "Oil futures closed with a small loss Wednesday, as better-than-expected retail sales lifted the dollar to a seven-month high, putting an end to a four-session climb in dollar-denominated crude prices." It said: "April crude shed 2 cents to settle at $92.52 a barrel on the New York Mercantile Exchange, after trading as high as $93.40."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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