Canadian stocks rose for the first time in four days

Canadian stocks rose for the first time in four days as Research In Motion Ltd. advanced on its earnings and sales forecasts and Teck Resources Ltd. acquired in copper prices.

Research In Motion, maker of the BlackBerry smartphone, was the largest taxpayer and the Standard & Poor's / TSX Composite Index advanced less than 0.1 percent. Teck, the largest producer of the metal base, rose 2.9 percent as copper headed for a weekly gain. Bank of Montreal, Canada's fourth largest bank, fell 6.5 percent after agreeing to buy Milwaukee-based Marshall & Ilsley Corp. for about $ 4.1 billion.

The S & P / TSX rose 11.05 points to 13,192.28 as of 14:15 in Toronto, with RIM accounting for nearly 7 points of the advance. The main point of reference for the actions of Canada fell 0.9 percent from December 10 through Sunday, and is preparing for its first weekly decline this month after closing at a maximum of 27 months on 13 December.


RIM, the company larger than 13 by weight in the S & P / TSX, gained 3.2 percent to C $ 61.49. third-quarter profit, excluding some items was $ 1.76 per share, beating the average analyst estimate by 6.7 percent.

"The market has been betting for some time that RIM had lost its technological edge," said Sebastian Van Berkom, president of Van Berkom & Associates Inc. in Montreal, which manages C $ 1.4 billion, mainly in shares of small and medium-sized companies companies. The actions "fell to a very low multiple of that."


Forecast

Revenue this quarter will be $ 5.5 billion to 5.7 billion U.S. dollars and earnings per share will be $ 1.74 to $ 1.80, Waterloo, Ontario, RIM said. Analysts expected revenue of 5.46 billion U.S. dollars and earnings of $ 1.61 per share.

RIM has a new version of the BlackBerry Bold and the torch, which has a sliding keyboard and enhanced Internet browser, to attract customers of Apple Inc. s iPhone. " RIM is also hitting the demand in markets such as Brazil and Indonesia for less expensive models like the curve, incorporating their free instant messaging system to reject the challenge of a series of new phones based on Google Inc. 's Android software.

Teck Resources rose 2.9 percent to $ 57.81. Copper rose 0.7 percent as European Union leaders agreed on a plan to contain future crises of debt and economic reports in the U.S. and Germany strengthened the prospects for demand for the metal.

Bank of Montreal fell 6.5 percent to $ 58. C will increase about $ 800 million in stock to help finance the purchase of Marshall & Ilsley, the largest acquisition ever that the Canadian bank.

The acquisition is the third largest in a Canadian bank or insurer in the U.S., behind Manulife Financial Corp. 's 10.9 billion U.S. dollars for the purchase of John Hancock Financial Services Inc. in 2003 and try to Toronto -Dominion Bank of 8.3 billion for Commerce Bancorp Inc. in 2007.

2013 Profit

The transaction will add to earnings in 2013, excluding merger costs of C $ 540 million, Bank of Montreal, said.

Other Canada's largest lenders also fell. Toronto-Dominion Bank fell 0.4 percent to C $ 72. Royal Bank of Canada fell 0.6 percent to C $ 51.52. Bank of Nova Scotia retreated 1.2 percent to $ 55.74.

Financial companies are the second worst performing industry in the S & P / TSX this year, returning 4.9 percent compared with a profit rate of 12 percent. Can be between the best performing together as the economy improves and the dividends are restored, Van Berkom said.

Onex Corp. rose 1.7 percent to C $ 29.41. Canada's largest venture capital firm is in talks to sell its Husky Injection Molding Systems for rival private equity firms and can get up to $ 2 billion, said people with direct knowledge of the matter.