Canadian Stocks Stay Afloat
Canadian stocks held onto modest gains ahead of Greenspan's testimony before Congress Tuesday as market participants debated the length and severity of the current economic slowdown. The TSE 300 rose 42.29 to 8999.90, helped by shares of oil and gas, financial services and gold and precious minerals. Industrial products shares also closed higher in a seesaw session. Breadth was 732-495 positive. Government of Canada bonds were mixed in directionless trade. The March Canadian dollar was lower at 65.72 cents vs. the U.S. dollar. Oil futures were higher, boosted by technical buying.
European markets traded higher. The London Financial Times-Stock Exchange 100 index finished higher by 77.10 points, or 1.25%, at 6,238.50. In Germany, the DAX Index ended higher by 67.84 points, or 1.04%, at 6,564.91. Meanwhile, France's CAC 40 ended up 47.12 points, or 0.82%, at 5,759.48.
Japan's Nikkei 225 Index was closed Monday. Hong Kong's Hang Seng index, meanwhile, ended down 180.17 points at 15,693.11.