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    BB   CA09228F1036

BLACKBERRY LIMITED

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BlackBerry : Toronto market notches 4-week high as U.S. inflation heats up

10/13/2021 | 04:50pm EST

(Adds investor quotes and details throughout, updates prices)

* TSX ends up 181.35 points, or 0.9%, at 20,618.47

* Posts its highest closing level since Sept. 15

* Materials and technology groups both rise 2.2%

* Gold rises nearly 2%; copper up 3.8%

TORONTO, Oct 13 (Reuters) - Canada's main stock index climbed to a four-week high as hot U.S. inflation data bolstered the attractiveness of metal mining shares, while the technology group also gained ground.

The Toronto Stock Exchange's S&P/TSX composite index ended up 181.35 points, or 0.9%, at 20,618.47, its highest closing level since Sept. 15.

"It is mostly to do with the higher inflationary number coming out of the U.S.," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth.

"That has sparked a pretty bid drive right up in gold, materials ... that's what's driving the bus."

U.S. consumer prices increased solidly in September as Americans paid more for food, rent and a range of other goods, putting pressure on the Biden administration to urgently resolve strained supply chains, which are hampering economic growth.

Gold is seen as a hedge against inflation. It rose nearly 2%, helped also by a pullback in U.S. Treasury yields, while copper futures advanced 3.8%.

Both the materials group, which includes precious and base metals miners and fertilizer companies, and the technology sector added 2.2%, while industrials ended up 1.3%.

Energy gave back some recent gains, falling 0.6%, as the rally in crude oil lost some momentum. U.S. crude oil futures settled 0.3% lower at $80.44 a barrel.

Among the largest percentage gainers on the TSX were Eldorado Gold Corp, which rose 9.3%, and Blackberry Ltd , which ended 4.7% higher. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru; Editing by Cynthia Osterman)


© Reuters 2021
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Financials (USD)
Sales 2022 726 M - -
Net income 2022 -371 M - -
Net Debt 2022 408 M - -
P/E ratio 2022 -13,8x
Yield 2022 -
Capitalization 5 129 M 5 121 M -
EV / Sales 2022 7,63x
EV / Sales 2023 6,19x
Nbr of Employees 3 497
Free-Float 98,9%
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Number of Analysts 9
Last Close Price 9,02 $
Average target price 6,10 $
Spread / Average Target -32,3%
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Managers and Directors
John S. Chen Executive Chairman & Chief Executive Officer
Steve Rai Chief Financial Officer
Charles Eagan Chief Technology Officer
Christopher Hummel Chief Information Officer
Randall Cook Secretary, Chief Legal, Compliance & Risk Officer
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