Canada's main stock market ended a positive day, one where it
spent most of it going forward for a change, up 170 points on some
bargain buying after recent strong selling and an easing of
concerns about the pace of the global economic recovery thanks to
better than expected U.S. services sector data.
Oil rose for a second day on the U.S. news.
Biggest percentage gainer of the day was Miranda Technologies
Inc. (MT.TO), which gained 62% to $16.87 as U.S.-listed Belden Inc.
) announced that it has offered to purchase all of its outstanding
common shares by way of a take-over bid at a price of C$17.00 per
share in cash.
For the second straight day, most actively traded was Bombardier
(BBD-B.TO), which added 6 cents today to the 1 cent gained
yesterday (when many other stocks were losers) after saying it has
signed a contract for 300 subway cars with the Metropolitan
Transportation Authority to be delivered to New York City Transit.
The order is valued at approximately US$599 million US (C$623
million). The MTA Board of Directors approved the award of a
contract to Bombardier on March 28, 2012.