BlackBerry shares hit year’s low on Toronto Stock Exchange

December 3rd, 2008 - 1:39 pm ICT by IANS  

Toronto, Dec 3 (IANS) With forecasts of a decline in sales of smartphones, shares of BlackBerry maker Research In Motion (RIM) touched the lowest level in a year Tuesday on the Toronto Stock Exchange (TSX).The TSX composite index, which registered the second biggest single-day fall Monday, further dived 78.4 points Tuesday to end the day at 8,327.81 points.

During the day, RIM shares once slipped as low as $44.60, closing at $46.46, down $3.75 from its closing value Monday.

Among the major sectors, financials retreated four per cent.

Shares of Canada’s second biggest bank Scotiabank - which has announced a 67 percent decline in its quarterly profits to $315 million - dived seven per cent to close at $32.38.

Another financial major Manulife Corp was down 57 cents at $19.89.

The energy sector, which was hammered by more than 13 percent Monday, staged a small recovery, going up 1.65 percent. The sector giant EnCana Corp was up by $1.62 at $53.94.

The Canadian dollar was also slightly down, closing at 79.84 US cents.

Amid the market gloom, there was some cheering news as well, with Toyota Canada announcing a record sale of Toyota and Lexus brand cars, trucks and SUVs in November.

The company said it sold 12,792 vehicles this November, up 1.9 per cent from November 2007.

With a total sale of 214,406 vehicles so far this year, the company said it has already surpassed the record sales of 201,326 vehicles in 2007.

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