Canada stocks on Friday closed up above 100 points and hit six
year highs - boosted by individual stocks like engineering and
construction company SNC-Lavalin Group Inc. (SNC.TO) and publisher
The price of gold gained Friday to close above $1,300, with
renewed tensions in Ukraine leading to some safe haven demand.
Market players are also wondering if today's U.S. jobs numbers were
as good as initially appeared, with some concerns emerging about
the participation rate.
Meanwhile, brent crude was up for the first time in three days
amid concern that tensions in Ukraine may disrupt global
SNC closed up 5% at $52.14 having earlier hit a fresh 52 week
high of $54.50.
While the ink's still drying on SNC's sale of its
power-transmission unit to Berkshire Hathaway Inc. (BRK-A), Chief
Executive Officer Robert Card has potential targets in mind for the
$2.9 billion windfall, according to a Bloomberg report. Canada's
largest engineering company has zeroed in on potential takeovers to
boost its engineering and construction businesses, Card reportedly
said in a phone interview yesterday after the accord with Warren
Buffett's company was announced. He declined to identify any
News Corp. (
) is buying romance novel publisher Harlequin Enterprises for C$455
million in cash from Torstar, which also hit 52 week highs today.
Although Harlequin accounted for near 30% of profit and total
revenues, shareholders appear to be confident that they will see
some of the sale funds come to them, while some of the funds may
also be used to pay down some debt and/or boost Torstar's digital
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