TSX Closes Up Nearly 90 Pts; Bombardier Gives Pains, Silvercorp Metals Gives Gains
Toronto stocks closed up nearly 90 points on Wednesday amid reports that tentative steps to resolve Europe's debt crisis overcame fears of a Greek default. China-focused miner Silvercorp (SVM.TO) helped the overall index make gains as it offered a detailed rebuttal of new anonymous allegations of fraud on Wednesday, releasing figures on taxes, production and assay grades to fend off a short-seller attack, according to a Reuters report.
But gains may have been bigger. Bombardier Inc. (BBD-B.TO) was the most active stock on the TSX in closing down 1.5% at $4.20, having earlier slumped to $4.01, its lowest level since late 2009, after having its hopes of landing the biggest order yet for its new C Series airplane hit by reports that Delta Air Lines is delaying an order for new narrow-bodied aircraft for several years.
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