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Canadian Stocks Rise Despite Rate Hike

Canada's benchmark TSE 300 index shrugged off the Bank of Canada's highly-anticipated 25 basis point rate hike earlier Tuesday and instead spent the day in positive territory. The TSE 300 closed up 80.3 points to 7841.6. The rallies by both the DJIA and Nasdaq certainly helped. Eleven of the 14

TSE subindexes closed up, led by the high-tech based Industrial Products sector.

European stock markets were higher, led by a surge in technology and telecommunication services shares and aided by a strong opening on Wall Street. In London, the Financial Times-Stock Exchange 100 index closed up 52.10 points, or 1%, to 5,253.50.

In France, the CAC 40 added 96.25 points, or 2.14%, to 4,598.74. And in Germany, the DAX Index gained 87 points, or 1.66%, to 5,331.17, following a report German industrial production rose more than expected 0.9% in February.

In Asia, the markets ended higher. Japan's Nikkei gained 209.36 points, or 1.88%, to close at 11,346.66, as technology shares surged on earnings optimism after Novellus Systems said its second quarter sales will exceed analysts' forecasts. The market was also reportedly supported by hopes that the government is trying to goad the stock market higher ahead of the G7 meeting over the weekend.

In Hong Kong, the Hang Seng added 60.55 points, or 0.56%, to close at 10,788.53.

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