Canada's main stock market, the Toronto Stock Exchange, made it
six days of gains in a row Friday in closing up around 60 points
with investors and traders seemingly buoyed by recent reports out
of the United States that fiscal issues there can be resolved, and
reports out of Europe that Greece will receive the aid it needs for
now. Reports of improving business sentiment in Germany also helped
the day's mood.
However, Reuters reported European Union leaders failed to reach
agreement on Friday on a new seven-year budget for their troubled
bloc, calling off talks in less than two days after most countries
rejected deeper spending cuts demanded by Britain and its
Volumes were affected by the fact that the U.S. stock markets
were closed all day Thursday and half day Friday for an extended
Most actively traded was TORC Oil and Gas (TOG.TO) which lost
earlier gains and closed flat with nearly 10 million shares traded.
Thursday, Equedia.com and The Equedia Weekly Letter which provide
research on stocks with a focus on mining and resources said it is
continuing research and evaluation on the prospects of TORC Oil
& Gas and Just Energy Group Inc. (JE.TO), which fell more than
2% and to within a $1 of year lows Friday.
Research In Motion (RIM.TO) was heavily traded for a second
straight day. While it jumped 14% in New York trading, it lost 3%
in Toronto. This follows an 18% gain in Toronto yesterday on rising
optimism over the BlackBerry maker's newest smartphones. RIM's
Canadian shares had their biggest gain in more than three years
yesterday after National Bank Financial lifted its price target for
U.S. shares to $15 from $12, saying new BlackBerry 10 sales should
be better than expected. It followed a Nov. 20 report from
Jefferies & Co. that said chances are improving that the new
BlackBerry 10 smartphones will revive sales when they hit stores in
Gold futures for December delivery added US$23.20 to $1,751.40
an ounce on the Comex division of the New York Mercantile Exchange,
making the most of the fact that the U.S. dollar was under some
selling pressure. Crude oil for January delivery rose 90 cents to
US$88.28 a barrel on the New York Mercantile Exchange, the highest
settlement since Nov. 6. Futures climbed 1.9% this week, the
biggest gain since the five days ended Oct. 12. Prices are down 11%
this year, Bloomberg noted.
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