TSX Loses 20 Pts Over Final Hour, But Still Ends Day Up 80 Pts; Connacher Most Active, Leads Gainers
The TSX lost 20 or so points over the final hour but still ended Friday's session up 90 points on renewed market optimism after EU leaders indicated they are going to introduce measures to solve Europe's debt crisis.
Connacher Oil and Gas Ltd (CLL.TO) was the most active in closing up 2 cents at 94 cents, but off a day high $1. The stock has been getting a big push on its share price after it said yesterday that it had received a confidential, non-binding and unsolicited proposal from an unidentified entity to acquire all of its outstanding shares. Connacher also has been recently touting its improved liquidity and ongoing business plan with investment advisors. It also said selling prices for bitumen are up over 50% above average.
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