Canadian Equities Close Higher

Europen markets inch down; Asian stocks fall

Canadian stocks closed higher as late buying in the Industrial Products, Oil & Gas, and Utility sectors lifted the market out of an earlier slump. The TSE 300 rose 13.01 to 8078.70. The S&P/TSE 60 rose 3.05 to 472.60. Breadth was 669-589 positive. Earlier, stocks sank on disappointment that U.S. Fed Chairman Greenspan did not hint that another rate cut might occur before the FOMC meeting on March 20. Government of Canada bonds were mixed. The March Canadian dollar settled flat at 65.11 cents vs. the U.S. dollar. April crude settled $0.74 lower at $27.39. April gold settled $0.60 lower at $267.80.

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