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Canada's main stock market closed up 65 points Wednesday, but while it finished with upward momentum it was still more than 20 points lower than session highs hit mid-afternoon. Trade on the one hand reflected plenty of optimism that Central Bankers will move to further stimulate global economic growth, but it also reflected a lack of serious volume as many investors sat on the sidelines to mark July 4 celebrations in the States.

If there is futher stimulus, this could lead to an increase in demand for commodities and, hence, energy stocks like Progress Energy (PRQ.TO) and gold ones like Avion Gold (AVR.TO) were the most actively traded gainers.

Progress Energy closed flat but still near year highs. Last week it gained more than 70% on over 28 Million shares following news that it had entered into an agreement for the purchase by PETRONAS Canada of all of Progress' outstanding common shares at a cash price of C$20.45 per share.

Avion announced that is has increased its production guidance to between 95,000 and 102,000 ounces of gold for 2012. The mill has delivered solid performance and the underground mining at Tabakoto has been a strong contributor with better than expected grades and recoveries and lower than planned dilution.

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