Canada Stocks Close Higher; Easing of Geopolitical Tensions Drives Gains


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Canadian stocks moved higher on Tuesday reversing losses seen on Monday. Most sectors were higher led by Metals and Mining.

Stocks were off to the races on the open and continued to make new highs throughout the trading session. Stocks notched up a 3-year high and are poised to test resistance near the February 2011 highs at 14,327.

Stocks were buoyed by news that Russian President Putin has recalled some troops back to their bases is seen as a conciliatory gesture by the Russian government.

Tomorrow traders will be eyeing the Bank of Canada as the make their announcement on interest rates following their scheduled monetary policy meeting. Expectations are for the central bank to keep rates unchanged, but traders will be watching what governors say with regards to recent economic data.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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