Canadian Stocks Close Higher; US Budget Concerns Weigh on Stocks; Sectors Mixed; Athabasca Oil Sands Corp. Most Active

By Staff,

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Canadian stocks closed higher on Friday, after fluctuating around unchanged levels during most of the afternoon trading session. Sectors were mixed with Metals and Mining dragging on the broader markets.

Canada had bigger budget deficits in July and in the April-July period than it did over the same periods last year due to a drop in corporate income tax revenues.

The federal budget deficit widened to $1.98 billion in July, compared with a shortfall of $1.35 billion in July 2012, according to the Department of Finance.

Athabasca Oil Sands Corp. (ATH.TO) was the most active stock with no fresh specific stock news driving volume. The stock close up 8.37% with 4.3 million shares changing hands.

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This article appears in: Investing Commodities
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