* TSX up 0.18%
* BlackBerry jumps 10% after upbeat Q1 revenue forecast
* Shopify ( SHOP ) down 2.7%
(Updates prices, adds details throughout, and analyst comments)
By Utkarsh Hathi
April 9 (Reuters) - Canada's resources-heavy stock index rose on Thursday, lifted by
gains in mining and energy stocks, as investors also assessed a fragile U.S.-Iran ceasefire.
At 9:58 a.m. ET, the Toronto Stock Exchange's S&P/TSX Composite Index was up 0.18%
at 33,681.23 points.
The two-week ceasefire between the United States and Iran remained uncertain, with
disagreement over whether Lebanon is covered by the deal, as Israel bombed more targets in
Lebanon on Thursday.
Delegates from both the U.S. and Iran are scheduled to meet in Islamabad on Friday for peace
talks brokered by Pakistan.
Oil prices gained after a steep drop in the previous session, as few signs of traffic moving
through the Strait of Hormuz heightened uncertainty. The U.S. West Texas Intermediate crude
hovered near $100 a barrel.
The energy subindex rose 1.6%.
With energy facilities in the Middle East damaged and supply disrupted, investors expect oil
prices to stay higher even if the ceasefire holds and war comes to an end.
"A lot of things have to go right. The ceasefire has to hold, traffic through the Strait
needs to start moving and facilities need to start up smoothly and get repaired. It's unlikely
we're going to see oil back at $60 or $70 soon even if ceasefire holds," said Brian Madden,
chief investment officer at First Avenue Investment Counsel.
The gold index and the materials sector, which includes metal miners,
gained 0.4%, tracking gains in precious metal prices.
Five of the 10 main TSX sectors were in the green.
The financials, which weigh heaviest on the index, were down 0.02%.
Limiting the gains, tech stocks fell more than 1%, with e-commerce firm Shopify ( SHOP )
down 2.7%.
Investors also assessed U.S. personal consumption expenditures data for February, the
Federal Reserve's preferred inflation gauge, which showed inflation rose 2.8% in February on an
annual basis.
Separate data showed the U.S. economy grew 0.5% in the fourth quarter, versus expectations
for 0.7% growth.
Among individual movers, software firm BlackBerry jumped 10% after forecasting
first-quarter revenue above estimates on strong demand across its cybersecurity and embedded
software divisions.