TSX Starts and Finishes Day Well To Close Up 160 Pts; Bombardier Shows The Way

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Canada's main stock market, the Toronto Stock Exchange ( TSX ), opened Monday up 120 points higher than on Friday - when it gained 60 points - still buoyed by Friday's news reports that suggested U.S. politicians from all sides would be willing to work together to resolve that nation's 'fiscal cliff' issue.

The index went to to add another 40 points in gains to the early 120. Half of that 40 points in gains came in the last hour. A thin trading range for most of the session may reflect the fact that investors and traders are still wary about getting too far ahead of themselves amid continuing concerns about the European debt crisis.

Bombardier (BBD-B.TO) has been among the most active for most of the last week and was again today. Last week it was active on selling pressure that saw it pushed below $3 after poor earnings and ratings concerns. For the last few days it has been active on bargain buying.

Crude oil futures jumped Monday by nearly 3% amid supply concerns based on geo political tensions, particularly in the Gaza strip. Gold futures gained nearly US$20 and settled at their highest level in a month on a weaker U.S. dollar.

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

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