S&P/TSX Index Up 1% on Bargain Hunting, Firmer Commodities

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The S&P/TSX index was higher in the first half hour of trading -- approaching triple digits -- as bargain hunters are showing signs of reentering a market that has been heavily bruised in recent weeks.

Firmness in most commodities this morning, and a willingness expressed by the ECB to possibly ease monetary policy in future days, was also lending support.

At 09:35 a.m. ( ET ), the index was up 97 points, 0r 0.8%, at 11,605. Advancing shares outpace decliners 224 to 89. The energy sector was the top gainer, rising 3.2%, followed by materials, with a gain of 2.8%.


Barrick Gold (ABX.TO) shares were up 1.9%, or 82 cents, at $44.52. The company announced it has appointed CFO Jamie Sokalsky as its new CEO in an effort to boost its sagging stock price.

Also on the move is Laurentian Bank (LB.TO), rising 4% at $42.88, following its earnings report and dividend boost this morning.



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: ET

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