TSX gains as BlackBerry jumps on reports of strong sales

TORONTO (Reuters) - Canada's main stock index advanced on Tuesday as reports of strong sales of the new BlackBerry device boosted the smartphone maker and energy stocks rose after data showed signs of a recovery in the European economy.

BlackBerry, whose shares jumped 15 percent on Monday, climbed another 11 percent after analyst reports indicated strong sales of the new Z10 model in Canada and Britain.

Recovering from a 2-1/2 week low reached the previous session, the Toronto index also got a boost from Markit's Eurozone Composite PMI, which showed business activity across thousands of companies had risen in January to a 10-month high.

"It's a buy-on-dips mentality," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "People are getting nervous when the market moves up too quickly. So yesterday we had a sell-off and then people started to buy.

"Europe has been the sore point. Any positive news coming out of Europe would be treated well," he added.

The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> was up 46.07 points, or 0.36 percent, at 12,763.69. All the 10 main sectors on the index were trading higher.

The energy sector gained 0.4 percent, benefiting from higher oil prices.

Suncor Energy Inc , Canada's largest energy company, gained 0.6 percent to C$34.38, and TransCanada Corp added 0.5 percent to C$48.23.

BlackBerry's stock surged to C$16.61 and helped the information technology sector climb 3.1 percent.

(Additional reporting by Euan Rocha; Editing by Nick Zieminski)

Source: http://news.yahoo.com/tsx-may-open-higher-positive-euro-zone-data-131352419--sector.html

fabrice muamba collapse prometheus trailer patrice oneal shamrock slainte the quiet man yellow cab