TSX Rallies Over Final Hour To Close Just 10 Pts Down

By Midnight Trader,  May 07, 2012, 04:12:30 PM EDT

Canada's main stock market rallied over the final hour to close just 10 points lower at around 11,860, having been 40 points lower with an hour to go. The rally took it back up near a day high 11.879.02 struck early afternoon, and well above a day low 11,785.74 hit mid-morning.

The improvement in the stock market reflected an improvement in the oil price after it fell to a three-month low, reflecting a weaker euro after European elections over the weekend raised specultion that austerity efforts will be derailed in the region. Heavyweight Suncor Energy (SU.TO) closed slightly higher while Yellow Media, which is slated to report Tuesday, was also among the most active gainers.

Gold fell on a lack of safe-haven demand.




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

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