CANADA STOCKS-TSX boosted by jumps in BlackBerry, cannabis stocks

By Kitco News / January 03, 2018 / www.kitco.com / Article Link

(Adds details on specific stocks, updates prices)

* TSX finishes up 61.56 points, or 0.38 percent, at 16,371.55

* Six of the TSX's 10 main groups move higher


By Alastair Sharp

TORONTO, Jan 3 (Reuters) - Canada's main stock index notched its highest-ever close on Wednesday, boosted by a jump in shares of BlackBerry Ltd after it announced a self-driving deal with China's Baidu and by sharp gains for several marijuana producers.

* The Toronto Stock Exchange's S&P/TSX composite index ended up 61.56 points, or 0.38 percent, at 16,371.55. Six of its 10 main groups were in positive territory.

* BlackBerry jumped 12.9 percent to C$16.95, hitting its highest level since 2013, after saying it will provide the foundational operating system for search engine company Baidu's autonomous vehicle platform, the latest in a string of recent automotive design wins. * Canadian cannabis producers extended sharp rallies in heavy volume as California opened the largest U.S. state market for legal marijuana, with Canada expected to follow by mid-2018. Aurora Cannabis Inc surged 20 percent to C$14.18, Canopy Growth Corp jumped 10.9 percent to $35.90, and Aphria Inc was up 6.3 percent to $21.46.

* Bombardier Inc fell 1.7 percent to C$2.91 after the plane and train maker said it delivered 17 CSeries jets in 2017, missing its latest target of 20 to 22 planes. * Luxury apparel maker Canada Goose Holdings Inc , which went public less than a year ago, ended up 3.6 percent at C$41.20 after hitting an all-time high of C$41.90.

* The energy group was little changed overall despite oil prices rising to new 2-1/2-year highs, while Cenovus Energy jumped 6.2 percent to C$12.94 and Canadian Natural Resources Ltd added 1.9 percent to C$46.59. * The materials group, which includes precious and base metals miners and fertilizer companies, added 0.7 percent.

* Valeant Pharmaceuticals International Inc gained 6 percent to C$28.86 after announcing it had paid down more of its debt load.


(Reporting by Alastair Sharp; Editing by Susan Thomas and Meredith Mazzilli)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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