TSX Flat Despite BlackBerry Bonanza -- Canadian Commentary

(RTTNews) - Canadian stocks rose Thursday, extending 6-month highs thanks to a strong performance from the nation's biggest tech name.

BlackBerry Limited (BBRY, BB.TO) said it is on track to achieve profitability for the full year 2018 thanks to projected software and services revenue.

In its second quarter, net income was $19 million, compared to loss of $372 million last year. Shares surged up 12%.

This helped the TSX Composite Index eke out a gain of 8.59 points to 15,618.25. The TSX jumped more than 135 points in the previous session.

Bombardier (BBD.B.TO) rebounded 5% amid reports that the plane maker is nearing a deal to sell at least 14 jets to Air Baltic Corp. for $1.25 billion.

Oil prices slipped, but the broader market was resilient as Bank of Canada governor Steven Poloz said the central bank is concerned about low inflation and may keep interest rates on hold.

Poloz said there's no "predetermined path for interest rates," and said the central bank will proceed "cautiously" with monetary policy.

Convenience store operator Coutu Group (PJCa.TO) and grocery chain Metro Inc. (MRU.TO) confirmed advanced talks on possible takeover Wednesday afternoon.

In Canadian economic news, average weekly earnings of non-farm payroll employees were $970 in July, little changed from the previous month. Compared with July 2016, earnings were up 1.8%.