Markets

TSX Reverses Early Climb, Down 2 Points at Midday with Resource Stocks; Info Tech Strongest Sector on BlackBerry Boost

The TSX turned to a 2-point loss at midday, reversing its earlier upward trend, as weakening commodity prices took a toll on resource stocks. Limiting the decline, however, were the rally in info tech stocks, led by BlackBerry (BB.TO).

Gold and crude oil prices have fallen 1.02% and 1.13%, respectively, hurt by the strength in the dollar. As a result, miners dropped 1.52% while energy producers tumbled 1.26%. Utilities were also in the negative side, shedding 0.17%.

Furthermore, info tech was ahead 1.26%, with BlackBerry hitting new highs on the back of new strategic agreements aimed at expanding its market reach. Industrials came in next, gaining 0.77%, as Bombardier (BBD-B.TO) rises 2.07% on news it received a firm order from China Express Airlines.

Trading volume so far was more than 154 million shares. BlackBerry was the most actively traded stock.

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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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