TSX Hits Another High, Up 79 Points Mid-Afternoon; Info Tech, Industrials In The Lead
The TSX moved up 79 points mid-afternoon, hitting a new record high of 15,614.36, with every major sector in the positive territory. Industrials and info tech were in the lead.
Boosting sentiments was a confirmation from Tim Hortons (THI.TO) and Burger King that they are in talks over a possible merger transaction that would create the world's third largest fast food restaurant. Investors are also hopeful the European Central Bank would take drastic actions to sustain economic recovery in the region after data showed that business morale in Germany, measured by the Ifo business confidence index, fell short of analyst expectations.
Info tech rose 0.65%, with BlackBerry (BB.TO) up almost 2% on reports saying it has scored another court victory against a company co-founded by television personality Ryan Seacrest when a U.S. court upheld a preliminary injunction preventing the firm from selling its iPhone keyboard product. Industrials gained 0.63%.
Miners and energy advanced 0.51% and 0.46%, respectively, lifted by copper and natural gas prices .
Volume traded so far exceeded 127 million shares. Tim Hortons remains the most heavily traded stock.
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