TSX Up 60 Points at Midday After Pushing Further into Record Territory on Tim Hortons Deal


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Canada's benchmark index was up by 60 points at midday after pushing further into record territory and hitting 15,603.97. Sentiments were boosted by confirmation from Tim Hortons (THI.TO) and Burger King that they are in talks over a possible merger transaction that would create the world's third largest fast food restaurant.

Also inspiring investors were prospects of stimulus measures from the European Central Bank after data showed that business morale in Germany, measured by the Ifo business confidence index, fell short of analyst expectations.

Healthcare led the broad surge with a 0.71% gain. It was followed by info tech, which rose 0.65% after the Wall Street Journal reported Saturday that BlackBerry (BB.TO) scored another court victory against a company co-founded by television personality Ryan Seacrest when a U.S. court upheld a preliminary injunction preventing the firm from selling its iPhone keyboard product.

Miners and energy jumped 0.41% and 0.31%, respectively, along with copper and natural gas prices .

So far, more than 84 million shares have changed hands. Tim Hortons was the most actively traded stock.

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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