Canada Bank Shares Rally

U.K. shares rise on interest-rate cut talks; Asia markets slip

Canadian stocks closed higher as banking shares led the overall market in a rebound from recent weakness. Technology, mining and transportation shares, however, were left out of rally, and continued to weaken. The TSE 300 rose 81.65 to 9305.70 after falling 63.61 Friday. The S&P/TSE 60 rose 5.22 to 551.94. Breadth was 768-521 positive. Government of Canada bonds ended mixed to higher in a quiet session marked by a shortage of fresh news. The March Canadian dollar settled lower at 66.40 cents vs. the U.S. dollar. March crude settled $0.64 lower at $30.55. April gold settled down $1.90 at $267.40.

European markets were mixed. London's FTSE 100 ended up 12.80, or 0.20%, to 6,269.20, as investors wondered whether Bank of England would cut rates this week. In Germany, the DAX Index finished down 10.13, or 0.15%, to 6,628.07, following reports that the EuroZone business climate index fell to a 12-month low and a survey of economic indicators survey fell for the 4th consecutive month. In Paris, the CAC 40 ended down 2.88, or 0.05%, to 5,823.49.

Asian markets finished lower. Japan's Nikkei finished down 318.11, or 2.32%, at 13,385.52 while Hong Kong's Hang Seng dropped 240.45, or 1.50%, to 15,830.84.

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