Canadian stock market index flat as tech weighs

Canada's main stock market index was little changed Wednesday as the info-tech slump offset gains driven by retailer Sears Canada. The benchmark S&P/TSX composite index edged down 6.08 points, or 0.04 percent, to 14,673.73 points, with a thin trading volume of 122 million shares. The info-tech sector plunged 1.72 percent, leading the losers among the eight major sectors. The smartphone maker Blackberry lost 1.48 percent to 8 Canadian dollars per share after it unveiled a new smartphone, Z3, in Indonesia Tuesday. CGI Group Inc., a Canadian IT and business consulting services leader, declined 2.93 percent to 36.83 Canadian dollars apiece after it announced that it signed its multi-year agreement with Yellow Pages Group to provide the company with high quality and flexible application and infrastructure services until the end of 2023. The selloff in info-tech sector offset the gains pushed up by the retailer Sears Canada. The company, which has been struggling with sales declines in recent years, jumped 3.43 percent to close at 16.30 Canadian dollars apiece after its U.S. parent company Sears Holdings Corp. announced plan to sell its 51 percent stake in the Canadian retailer. The mining sector rose 0.69 percent as copper for June delivery moved up 0.83 percent to 3.1680 U.S. dollars per pound on the New York Mercantile Exchange. First Quantum Minerals Ltd. added 3.04 percent to 22.7 Canadian dollars apiece. The Canadian dollar was up to 0.9182 U.S. dollar on Wednesday, compared with 0.9165 U.S. dollar on Tuesday.