Canadian stocks retreat, kicking down the benchmark index to a three-week low, as BlackBerry Ltd. sagged down and the U.S. government shutdown extended to a third day. BlackBerry, the smartphone maker looking to sell itself, gave up 3.6 percent to pace pullbacks among technology stocks. WestJet Airlines Ltd. surrendered 2.5 percent as load factor slipped in September. Valeant Pharmaceuticals International Inc. soared 1.4 percent after receiving approvals for products in the U.S. and Canada. Agrium Inc. traded 0.7 percent higher after naming a successor for its retiring chief executive officer. WestJet Falls WestJet plunged 2.5 percent to C$25.41 as industrial stocks pulled back 0.9 percent as a group. Nine of 10 industries in the S&P/TSX decline. Trading volume was in line with the 30-day average. Tentative Offer Fairfax Financial Holdings Ltd., which has a tentative $4.7 billion offer in place for the struggling smartphone maker, is unlikely to get financing, as BlackBerry’s cash position is worse than expected, Ferragu said. Imax Corp., the big-screen cinema firm, sagged down 8.7 percent to C$26.77, the worst decline since July 2011. Analyst David McFadgen of Cormark Securities Inc. lowered his rating for the stock to reduce, the equivalent of sell. Imax has jumped 20 percent this year. Suncor Energy Inc. backslide 1.3 percent to C$36.32 and Talisman Energy Inc. missed 2.3 percent to C$12.52 as crude fell for a third day this week on concern the U.S. government shutdown will reduce fuel demand. Valeant Pharmaceuticals recorded a 1.4 percent increase to C$114.91, a record high, after the drugmaker’s Bausch and Lomb unit won approval from the U.S. Food and Drug Administration for a monthly disposable contact lens product. Valeant also secured regulatory approval in Canada for a topical treatment of nail infections caused by fungi. Agrium, the largest U.S. farm products retailer, obtained 0.7 percent to C$88.87. The firm named Chuck Magro, currently chief operating officer, as the successor to CEO Mike Wilson, effective at the beginning of next year. Wilson plans to retire at the end of the year after 10 years as CEO.
