Today in the markets
U.S. stocks bounced higher Thursday, pushing the S&P 500 to a record closing high as portfolio managers looked to end the quarter by getting into stocks.
Canadian stocks rallied on the final day of first-quarter trading, buoyed by a surprise profit from tech giant BlackBerry amid the rollout of its new touchscreen Z10 smartphone.
The S&P/TSX Composite was up 50.25 points to 12,749.90, while the TSX Venture Exchange gained 1.21 points to close at 1,099.00.
Active stocks included Apple Inc. (NASDAQ: AAPL, Stock Forum), which saw its shares retreat for the third session, losing 2% to $442.66, on reports that the iPhone maker is reducing iPad Mini shipments in the second quarter to 10 million to 12 million units. This is due to inventory adjustments and competition from 7-inch Android tablets, reports said.
In Canada, Blackberry shares (TSX: T.BB, Stock Forum) rose 2% to $15.09 after the company delivered a profit in its fourth quarter, as the smartphone maker boosted earnings by cutting costs and launching its new high-end touchscreen smartphone, but the results also showed its loyal subscriber base is waning.
For news about small stocks that made big moves in Thursday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report