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Key Canada Index Shoots Higher


Canadian stocks closed solidly higher as positive comments from Goldman "permabull" Abby Cohen gave a boost to the market, and supported the thesis that tech stocks have bottomed. Major indexes shrugged off earnings warnings from firms like Broadcom, while there was mystery surrounding Yahoo's trading halt. The TSE 300 rose 96.24 to 8301.80 as Industrial Products, Oil & Gas issues rose. Energy stocks were boosted by Shell Oil's US$55/share bid for Barrett Resources. Breadth was 842-414 positive. Government of Canada bonds were higher in quiet dealings. The Canadian dollar closed a bit lower vs. the U.S. dollar. Crude was slightly higher.

European stocks ended mixed. In London, the Financial Times-Stock Exchange 100 index ended down 10.20, or 0.17%, to 6,001.80. Germany's DAX Index ended higher by 21.58, or 0.34%, to 6,305.64. In France, the CAC 40 finished up 26.40, or 0.48%, to 5,483.68.

Asian equities closed mixed. In Japan, the Nikkei Index gained 36.15, or 0.28%, to 12,723.89. In Hong Kong, the Hang Seng lost 143.69, or 1.00%, to 14177.36.


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