TSX Up 69 Points At Midday After Climbing to New High As BCE-Bell Aliant Deal Lift Telecoms, Commodities Boost Resource Stocks

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The Canadian benchmark index moved further into record territory, hitting a new high of 15,393.48, with support from telecom shares after BCE (BCE.TO) declared plans of taking its affiliate Bell Aliant (BA.TO) private. The resource-heavy index also benefited from rising commodity prices.

The TSX was up 69 points at 15,383.90 at midday.

Telecom shares climbed 2% after BCE said it would privatize Bell Aliant for C$3.95 billion through a tender offer for the shares it doesn't already own in Bell. Both BCE and Bell stocks were in the green.

Meanwhile, mining and energy issues rose 1.09% and 0.83%, respectively, along with gold and oil prices . Talisman Energy (TLM.TO), up 11%, was the main driver of the energy sector after reports that Spanish oil

company Repsol SA is considering a takeover bid for the company. Financials edged higher by 0.01%.

Only info tech was in the negative territory, down 0.26%.

More than 122 million shares have changed hands so far.



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.

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This article appears in: Investing , Commodities

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