Canada Stocks Close Up Nearly 80 Points; Bombardier, Capstone Mining Lead Gainers


Canada's main stock market, the Toronto Stock Exchange, opened 50 points higher than the previous close and continued to rise through most of the session, closing nearly 80 points higher. However, there was some late profit taking that took nearly 20 points off gains.

The Mining sector led the way, buoyed by trade data out of China that suggested the economy there may be recovering, raising hopes for increased demand for Canadian commodities.

Bombardier (BBD-B.TO) was most active for the second straight day, yesterday with more than 10 million shares traded and today with more than 16 million traded. It added another nine cents to the 4 cents gained yesterday when announcing that it delivered 233 aircraft during the 2012 calendar year, compared to 245 aircraft deliveries in the previous fiscal year, the 11-month period ended December 31, 201. The company also received orders for 481 aircraft, net of cancellations, compared to 249 orders, net of cancellations, for the previous fiscal year.

Capstone Mining Corp. (CS.TO) jumped 10% with more than 10 million shares traded after today announcing the operating results for the three and twelve months ended December 31, 2012 of its two operating mines, Cozamin and Minto. Combined production totalled 19.7 and 82.8 million pounds of copper in concentrates in the fourth quarter and full year 2012, respectively, with additional by-products of zinc, silver, gold and lead.

Oil futures settled higher Thursday, nearing $984 a barrel, after strong export data from China. A weaker U.S. dollar also spurred oil demand. February crude futures rose 72 cents to $93.82 a barrel.

Gold futures settled higher Thursday, rising 1.4% on better-than-expected export data from China and a weaker U.S. dollar. February gold settled at $1,678 an ounce.

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

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This article appears in: Investing , Commodities

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