Canadian Stocks Eke Out Quarterly Gain, Continue Winning StreakBy
Canadian stocks ended an uninspired first quarter with a slight decline Friday but managed to eke out a fifth consecutive quarterly gain, the longest streak of advances since 2007.
The S&P/TSX Composite Index fell 31 points or 0.2 percent to close out the quarter at 15,547.75, an increase of just 1.7 percent since the beginning of the year, placing it 21st out of 24 developed-world benchmarks.
Financials were the biggest decliner, falling 0.6 percent. Energy shares added 0.2 percent as the price of oil rose 0.8 percent to $50.73.
In other moves:
- The information technology index rose 0.6 percent as BlackBerry Ltd. jumped 14 percent. The company continued its transformation into a software provider, beating fourth-quarter earnings estimates and surpassing its software-revenue target for the full year
- Enercare Inc. rose 3.8 percent after rival Reliance Home Comfort was bought by Hong Kong’s richest man for C$2.82 billion