TSX Adds Small Gains Over Final Hour, Closes Up 188 Pts

By Midnight Trader,  April 12, 2012, 03:57:51 PM EDT

Toronto's main stock index added small gains over the final hour of Thursday's session and closed up nearly 188 points on some across the board buying - but especially among commodity related stocks. Bargain buying may have accounted for much of the action as the index has been rallying for two days now after five days of heavy selling that elimimated all gains made in 2012.

There were reports of lower yields on some euro-zone debt lifting financial shares. Royal Bank (RY.TO) gained nearly 1%. Talk of strong Chinese growth gave a lift to many commodities.

Bloomberg reported oil climbed for a second day as U.S. stocks increased and the dollar weakened against the euro on speculation that central banks will stimulate economic growth with supportive monetary policies, Bloomberg reported.

The third consecutive annual copper shortage and accelerating U.S. growth will drive prices to the highest in a year in the next quarter, according to the most accurate forecasters, Bloomberg also reported.




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

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