Canadian Stocks End Slightly Higher on Positive Earnings

European stocks gain ground on positive economic data; Asian markets dip

Canadian stocks closed at modestly higher levels as investors reacted positively to earnings reports from some high tech companies and pondered how much Fed will cut rates at its Jan. 31 meeting. The TSE 300 closed up 37.36 to 9306.20. Utilities, Financial Services and Industrial Products closed higher. Breadth was 734-499 positive. GoCs were lower along with Treasuries ahead of Greenspan's testimony before the Senate Banking Committee tomorrow. Oil was higher on short covering after earlier weakness on API report. March Canadian dollar closed lower at 66.12 cents vs. the U.S. dollar.

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