TSX at 2pm: TSX Rises Amid REIT Acquisition News

By MT Newswires,  December 05, 2012, 02:01:16 PM EDT

The Toronto stock market was higher in afternoon trading as financial issues advanced and investors took in some major acquisition news in the real estate sector.

The S&P/TSX Composite Index was up 35 points to 12,172, retreating from session highs of 12,208.

Most of the TSX's sub-sectors were in positive territory, paced by financials, including Manulife (MFC.TO) and Royal Bank (RY.TO). Materials were weaker as gold stocks lost ground.

Heavily traded Primaris REIT (PMZ-UN.TO) advanced 14% on reports that a group led by KingSett Capital is proposing a $4.4 billion takeover of the REIT.

Canadian Pacific Railway (CP.TO) gained more than 5% after the railway announced a cost-cutting plan.




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:



Latest News Video

Take Control Of Your Wealth
Take Control Of Your Wealth         
How to Avoid Getting Caught Pre-Defection
How to Avoid Getting Caught Pre-Def...
WSJ House of the Week: And the Winner Is…
WSJ House of the Week: And the Winn...
How to Invest When Interest Rates Rise
How to Invest When Interest Rates R...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
PFE $ 29.40 0.24  0.82%
NOK $ 3.86 0.17  4.61%
S $ 7.32 0.10  1.39%
BAC $ 13.27 0.06  0.45%
GE $ 24.33 0.56  2.36%
MU $ 13.76 0.52  3.93%
SIRI $ 3.40 0.06  1.80%
MNKD $ 6.605 0.94  12.40%