Canadian stocks snap losing streak as RIM rallies

SAN FRANCISCO (MarketWatch) � The Canadian benchmark index snapped a three-day losing streak on Friday as Research In Motion Ltd.�s shares rallied nearly 7% following the release of its financial results.

The stock market also closed out the first quarter with gains of 3.7% but underperformed the Dow Jones Industrial Average DJIA �which climbed 8.1% and the S&P 500 SPX �which advanced 12%.

/quotes/zigman/20942 GSPTSE 12,028.61, -20.21, -0.17%

The S&P/TSX Composite Index CA:GSPTSE �rose 52.82 points, or 0.4%, to close 12,392.18.

Most sectors moved higher, led by the S&P/TSX Capped Information Technology Index XX:TTTK �which added 2.8%, thanks to Research In Motion CA:RIM �RIMM .

The BlackBerry-maker late Thursday said it swung to a fourth-quarter net loss of $125 million, or 24 cents a share, from a profit of $934 million, or $1.78 a share, in the same period during fiscal 2011.

The company also announced that co-founder Jim Balsillie has stepped down from the board while Chief Operating Officer Jim Rowan and Chief Technology officer David Yach have either left or will be leaving RIM. Read more about RIM�s results

Click to Play Can RIM Survive the Turmoil?

A look at the status and future of Research in Motion after a disappointing earnings report and promises of an executive overhaul. (AP photo.)

Financial markets on both sides of the Atlantic keyed off euro-zone finance ministers� agreement to temporarily boost the lending capacity of the region�s rescue funds to 700 billion euros ($934 billion) from �500 billion. Read more about euro-zone plan for boosting regional firewall

The S&P/TSX Capped Materials Index XX:TTMT �gained 1.4% as gold for June delivery �rose $17, or 1%, to end the day at $1,671.90 an ounce on the New York Mercantile Exchange. Read more about gold trading

The S&P/TSX Capped Diversified Metals & Mining Index XX:TTMN advanced 0.9% and the S&P/TSX Capped Real Estate Index XX:TTRE �rose 0.6%.

However, the S&P/TSX Capped Financial Index XX:TTFS �bucked the trend to slip 0.2%.

In currency trading, the Canadian dollar fell with U.S. dollar USDCAD �trading at 99.85 Canadian cents versus 99.65 cents late Thursday.