TSX Closes 40 Pts Higher, boosted by individual stocks like Uranium One and Questerre Energy
The TSX closed up 40 points, largely on buying interest in individual stocks like Questerre Energy Corp. and Uranium One. Commodity futures were mixed with brent crude and gold futures lower and copper and silver futures higher.
Questerre Energy Corp. (QEC.TO) hung on to a 9% advance, adding 0.16 to 1.95 (with 5.3 million shares changing hands) after apparently getting fresh mileage from an upgrade last week from an analyst with Argo Securities in Norway.
Uranium One (UUU.TO) hit a year high $3.78 on strong volume (close to 4.4 million shares changed hands) after saying $260 mln of debentures issued in March were converting into common stock for $4 each, effective today, while it also reset the interest paid on those notes from 7.5% to 5%. The re-set follows receipt of the Kazakh regulatory approval and delivery to the indenture trustee of the related legal opinion required under the debenture trust indenture for exercise of the conversion feature to become effective.
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