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Canadian Stocks Rising Following Strong Chinese Trade Data, Draghi Comments

Canadian stocks are up 60 points with buying across the board reflected in fact that all sectors are higher, but the Metals & Mining sector is showing the way.

Stocks - and minining ones in particular - rose following positive trade data out of China overnight. The data indicated that the economy there is improving which could lead to increased demand for commodities out of Canada.

In addition, European Central Bank President Mario Draghi said the euro-zone economy is poised to resume growing by year's end.

In company news, DragonWave Inc. (DWI.TO,DRWI) shares are down around 20% in Toronto and in New York too after the ethernet equipment manufacturer reported a $0.36 a share net loss, $0.13 wider than its year-ago loss and trailing analyst expectations for the period by $0.09. Quarterly revenues also lagged Street estimates and DRWI provided downside guidance for revenues during the current quarter as well.

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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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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