Oil and Gas Boost Canada Shares

Telecoms help Europe markets finish up; Asia stocks slump as traders dump bank shares

Canadian stocks closed moderately higher on a rebound from Friday's losses, Amazon.com's forecast of better than expected Q1, strength in U.S. markets on selective technology buying and cyclical strength. The TSE 300 rose 63.35 points to 7538.10 on strength in Industrial Products, Utilities, Oil & Gas and Financial Services. Breadth was 685-457 positive. Government of Canada bonds were quiet in featureless trading as market participants focused on stocks and upcoming earnings reports. Canadian housing starts slipped 1.5% in March, following an 8.6% decline in February. The Canadian dollar was uo a bit vs. the U.S. dollar.

In London, the Financial Times-Stock Exchange 100 index finished up 61.80 points, or 1.10%, to 5,663.30. In Germany, the DAX Index was up 78.12 points, or 1.37%, to 5,777. In France, the CAC 40 ended up 43.51 points, or 0.85%, to 5,183.22.

In Asia, the markets ended lower. The Nikkei fell 542 points, or 4.05%, to 12,841.76. In Hong Kong, the Hang Seng ended down 184.51 points, or 1.49%, to 12,202.10.

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