TSX Finishes Roller Coaster Day Slightly Higher; Neo Material Technologies Most Traded Ahead of Vote


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Canada's main stock market rallied over the final 30 minutes to finish a roller coaster day slightly higher. On the two occasions during the session - early morning and mid-afternoon - that it looked set for gains it came under selling pressure, as if investors were too afraid of getting ahead of themselves with all of the uncertainty surrounding the global economy.

Five of the eight sub-sectors were higher (energy, health care, info tech, telecom and utilities) while three were lower (financials, industrials, metals & mining).

Most actively traded was Neo Material Technologies Inc. (NEM.TO), which fell more than 3% with around 14.5 million shares traded. Its shareholders face a proxy voting deadline of Monday 2012 at 10 a.m. ( ET ). According to a report published on May 16, 2012, Glass Lewis & Co. has recommended that shareholders vote FOR all resolutions including the special resolution to approve a plan of arrangement between Neo Material Technologies Inc. and Molycorp Inc. ( MCP ), to be considered at the upcoming Annual General and Special Meeting of Shareholders on Wednesday, May 30, 2012.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: ET , MCP

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