Bar some small dips, Canadian stocks having been on a strong
upward trajectory most of today and are up more than 70 points
early afternoon, buoyed by hopes that the U.S. budget talks will
soon be completed and by some bargain buying after some big
sell-offs in recent weeks.
All sectors are higher. Technology stocks are posting the best
gains, rising nearly more than 1% as a group.
The S&P/TSX Composite Index is up 73.26 points, or about
0.6%, at just above the 12,300 level.
In economic news, Canada's trade deficit with the world narrowed
from $1.0 billion in September to $169 million in October,
according to figures compiled by StatisticsCanada. Merchandise
imports declined 1.2% while exports increased 1.0% in October.
In company news, ZaZa Energy Corp. (
) shares are down nearly 3% but above day lows on the NASDAQ after
the oil and gas company said it has received a letter of
non-objection yesterday from the French ministers of Energy and
Economy & Finance approving the sale of its French assets to
Vermilion Energy (VET.TO), which is trading at the high end of its
52 week range on the TSX.
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