TSX Rally Led By Energy Stocks -- Canadian Commentary

(RTTNews) - Canadian stocks rallied Thursday along with U.S. equities amid a rebound in the beleagured tech sector.

Bay Street was a sea of gree arrows ahead of the Easter Break. The TSX Composite Index added

However, the index was down 6% in the first quarter of 2018, led lower by slumping energy and health care stocks.

Traders weighed a disappointing reading on Canadian GDP that may have actually soothed investor fears of a Bank of Canada rate hike.

Canada's gross domestic product edged down 0.1% in January, offsetting part of the 0.2% growth in December.

On a yearly basis, GDP was up 2.7%, disappointing analysts looking for 2.9% growth.

Dollarama (DOL.TO) plans a stock split and has raised its dividend after a strong quarter. Founder and Chair Larry Rossy will step down. Shares rose 1.2 percent.

Blackberry (BB.TO) says it will push ahead with its driverless car plans despite a pedestrian fatality that has rattled the industry. The stock slipped 5.6 percent.

"The issue that was experienced may enhance our competitive position by being the one that has the most safe operating system," CEO Mr. Chen told BNN. "So, with any luck, things will even accelerate, rather than decline."

Dynacor Gold Mines Inc. (DNG.TO) reported full year sales rose.

Magna (MG.TO) said its CEO made a little less in compendasation in 2017. Shares rose 3 percent.

Higher oil prices helped energy stocks trim this quarter's significant losses.

Crude oil futures rose near $65 Thursday after a surprising decline in the U.S. oil rig count.

That's after Baker Hughes said that the number of active U.S. rigs drilling for oil fell by seven to 797 this week.