By Cameron French
TORONTO (Reuters) - Toronto's main stock index rose on Tuesday, as energy and industrial stocks rose in tandem with gains in U.S. stocks, more than offsetting pullbacks in key stocks such as BlackBerry
Energy stocks, which suffered steep losses in April, rose 0.67 percent despite a retreat in the price of oil, helped by the continued momentum in U.S. stock indexes.
The smaller industrials subgroup charged ahead 1.83 percent, led by airlines and railroads. Westjet Airlines Ltd
The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> rose 47.50 points, or 0.38 percent, to 12,577.05. Seven of the index's 10 main subgroups rose during the session.
U.S. stocks extended gains, and the S&P 500 <.spx> and Dow Jones Industrial <.dji> touched new intraday highs .
The TSX has underperformed U.S. stock over the past year due in part to the Canadian index's much higher weighting of commodities. But since mid April, the TSX has followed the U.S. indexes higher.
"I think that there could be a help from the U.S. ... but I think it's also maybe a little bit of a 'enough's enough' in some of these stocks," said John Kinsey, a portfolio manager at Caldwell Securities.
The information technology group sank 0.63 percent, weighed down by BlackBerry. The smartphone maker dropped 3.1 percent to C$15.55 as the company unveiled a new mid-tier smartphone.
Bombardier slid 1.7 percent to C$4.55, falling hard for a second straight day, though the stock had risen 15 percent last week on optimism about the company's new CSeries jetliner.
(Reporting by Cameron French; Editing by Leslie Adler)