Canada Stocks Close Higher; Notches Up 12th Consecutive Gain; U.S. Manufacturing Strong

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Canada's main stock market gained for the 12th consecutive day and moved even closer again to three year high levels on positive U.S. economic data, higher forecasts for gold from UBS and good news for individual stocks such as Blackberry (BB.TO, BBRY). The TSX is up nearly 4% in 2014 to date.

Among stocks, BlackBerry gained x% in the wake of Facebook's ( FB ) $19 billion deal to buy fast growing messaging startup WhatsApp - a move that could lift the value of Blackberry Messenger.

In the United States - Canada's largest trading partner - February manufacturing rose at its fastest pace in around four years while unemployment claims were down last week. CPI climbed 0.1% in January and 1.6% year-over-year, right in line with expectations. Core consumer prices, a measure that strips out food and energy, also rose 0.1% from the previous month and 1.6% year over year.

UBS lifted forecasts for gold in 2014. The one-month forecast was raised to US$1,280 an ounce from $1,180, while the three-month outlook was increased to $1,350 from $1,100.



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This article appears in: Investing , Commodities

Referenced Stocks: FB

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