Canada Stocks Up Again, Rebounding From Mid-Day Slump


Canadian stocks are higher again this afternoon, with the S&P/TSX Composite Index now up nearly 30 points, or over 0.2%, recovering from a mid-day slump that saw the market barometer 30 points underwater. All of this after the index opened around 50 points higher than the previous close and was up around 100 points after just over 30 minutes of the trading day.

Most industry sectors in the TSX Composite are higher today, although Industrials and Info Tech were lower and energy stocks were little changed amid another decline in crude oil and natural gas prices. Mining and materials companies are among the best performers, lifted by a rebound in bullion prices.

In company news today, Wi-Lan Inc (WIN.TO, WILN) is up 9% today, earlier posting a 13% rise, after the wireless and networking company last night saying it renewed a long-term license agreement with Samsung for its patented technologies. According to the companies, the new pact adds greater patent scope and several years to the prior agreement. All other terms of the license agreement are confidential.

Also today, Insurer Sun Life Financial Inc. (SLF.TO,SLF) is down about 3% after saying it won't close on the sale of its U.S. annuities business to Delaware Life Holdings LLC before the end of June as first expected, explaining the deal has been delayed waiting for approval from one regulator.

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This article appears in: Investing , Commodities

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