Markets

Canada Stocks Gain 40 Pts; TORC Oil & Gas, Manulife Most Active

Canada's main stock market, the Toronto Stock Exchange, closed 40 points higher but did lose around 20 more in the last half an hour or so of Tuesday's session.

TORC Oil & Gas Ltd. (TOG.TO) and Manulife (MFC.TO) were easily the most active.

A majority of sectors closed higher, led by Energy and Industrials. Health Care, Info Tech and Utilities were lower.

There hasn't been a fresh stock specific TSX announcement on TORC, which has often been among the most active stocks in recent weeks, since late November 2012. Today, reports mentioning TORC were published by Thomson Reuters and ValuEngine Inc.

According to a release late last week, Manulife Mutual Funds' net assets under management reached a record $20.7 billion at the close of 2012, representing an 18% increase from year-end 2011 to year-end 2012. The firm now places seventh in rankings released by the Investment Funds Institute of Canada (IFIC), having moved up three spots during 2012.

"Gold futures saw a minor gain Tuesday, buoyed by weakness in the dollar, but prices stayed below $1,650 an ounce," MarketWatch reported. It added: "Oil futures rose Tuesday for a second straight session, after OPEC upped its forecast for oil demand this year and as traders awaited this week's updates on U.S. petroleum supplies."

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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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