Canadian stocks are higher this afternoon, led by financial and
mining stocks. Most other industry sectors are little changed,
although shares of energy companies are now off about 0.5% despite
crude oil appearing ready to settle slightly higher in New York
Here's where the Canadian markets stand this afternoon:
- S&P/TSX Composite Index up 62.24 (+0.54%) to 11,559.54
- S&P/TSX Venture Composite Index down 14.46 (-1.14%) to
In company news, U.S.-listed shares of Bank of Nova Scotia (
) are up about 1.3% this afternoon with the head of the bank's
global wealth managment division saying the company would consider
raising its stake in CI Financial Corp if the right deal presented
BNS now owns a 36% stake in the Canadian mutual fund company.
The bank currently has no plans to increase its position, Chris
Hodgson told the Morgan Stanley Financials Conference in New York
today. But that could change, he said, should the opportunity
"We like the asset management business, so clearly if we had an
opportunity and the metrics could work out over a period of time,
that would be appealing to us," Hodgson said, later saying BNS also
may try to build out an asset management business in the United
States, where it currently has a very limited presence.
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