Canadian Stocks Recover Around Half of Wednesday's Losses; Metals, Energy Leading Rebound for Toronto Stocks

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Canadian stocks are higher today, recovering about half of yesterday's steep fall for the S&P/TSX Composite Index, with the primary gauge for Toronto-listed stocks climbing nearly 85 points, or about 0.7%, to around 12,030.

Mining stocks are helping lead today's comeback, with the sector up 2% as a group in early afternoon trade. Energy stocks also are nearly 2% higher as crude oil and natural gas follow most metals higher in commodities trade.

Tech stocks are reversing yesterday's small gains, sinking about 1.2% as a group, with all seven component companies in the S&P/TSX Capped Information Technology Index currently posting declines. CGI Group Inc. (GIB-A.TO, GIB) is down about 1.0% despite the company today disclosing a new collaboration with Akamai ( AKAM ) and Daon to provide a cloud-based authentication service for mobile devices used by federal employees.

In other company news, Rogers Communications (RCI-B.TO, RCI) is down about 0.4% this afternoon - albeit at the high end of its 52 week range - after offering $200 mln to acquire Blackiron Data, which provides data center and cloud-computing services throughout Canada, from Primus Telecommunications Group ( PTGI ).



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

Referenced Stocks: AKAM , PTGI

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