TORONTO: Canada’s main stock index rallied on Friday, bolstered by index heavyweights like energy and mining stocks, but BlackBerry Ltd shares suffered sharp losses after first quarter sales missed expectations.

BlackBerry reported an unexpected 4.7 percent drop in revenue from its software and services business, whose success is at the heart of Chief Executive John Chen’s turnaround plan for the company. Shares tumbled 11.8 percent to C$12.93, on track for its biggest one-day decline in about 2-1/2 years.

The overall tech group was down 0.5 percent.

Suncor Energy Inc advanced 1.4 percent to C$38.63, while Canadian Natural Resources Ltd rose 1.1 percent to C$38.07 as oil prices touched session highs on the back of a softer US dollar.

The overall energy group saw a robust 1.3 percent gain. US crude prices were up 0.5 percent to $42.94 a barrel, while Brent crude added 0.5 percent to $45.46.

At 10:25 a.m. ET (1425 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 84.05 points, or 0.55 percent, to 15,303.95.

Of the index’s 10 main groups, eight were in positive territory. The consumer staples group, home to grocers, was down 0.3 percent.

The materials group, home to miners and fertilizer companies, added 1.1 percent, with Barrick Gold Corp climbing 2.4 percent to C$21.80. Bullion prices hit a one-week high, as the weaker greenback and global geopolitical uncertainties boosted the precious metal. Gold futures rose 0.7 percent to $1,256.1 an ounce.

The financials group, which accounts for about a third of the index’s weight, gained 0.3 percent, with bank stocks seeing modest advances.

Home Capital Group Inc extended its previous session’s gains, climbing 3.4 percent to C$19.64, following news that Warren Buffett’s Berkshire Hathaway Inc made a commitment to provide financing for the alternative lender.

Canadian National Railway Co was one of the most influential movers on the index, climbing 1.3 percent to C$107.03, while the overall industrials group rose 0.9 percent.

In economic data, Canada’s annual inflation rate cooled more than expected last month, declining to 1.3 percent in May from April’s 1.6 percent, and reducing the likelihood of an interest rate hike by the Bank of Canada in July. Food prices fell on an annual basis for the eight month in a row as consumers paid less for meat and fresh fruit.

Advancing issues outnumbered declining ones on the TSX by 187 to 50, for a 3.74-to-1 ratio on the upside. —Reuters