S&P/TSX Index Ends up 57 Points, 0.5%, on Global Economic Stimulus Hopes; RIM, Taseko Big Gainers

By Midnight Trader,  June 15, 2012, 03:48:19 PM EDT

Canada's S&P/TSX composite index closed near its highs of the day, supported by energy and IT shares, as traders speculated global central banks will unleash stimulus in the event Greek elections on Sunday spark further economic gloom in Europe.

The index unofficially closed at 11,524, up 57 points, or 0.5%.

Heading into the close, advancers outnumbered decliners 73 to 26. The information technology sector did particularly well Friday, up about 1.6%, with the help of Research In Motion. The stock rose about 5% on bargain hunting and continued talk of a possible takeover deal that could be in the works. The energy sector was up 1%.

Bombardier was also another blue-chip winner of the day, rising 2.3% after announcing a large rail order late Thursday.

The materials sector was largely flat. That masked, however, some notable moves: Ivanhoe Mines (IVN.TO) was down 9% and Taseko Mines was up 7.8%.




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.


This article appears in: Investing, Commodities

Referenced Stocks:



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