Canada Shares Rally on Tech Strength
Canadian stocks closed solidly higher as reports that inventories are dropping at Nortel and strong results from Research In Motion triggered a high-tech rally. The TSE 300 rose 122.52 points to 7835.20 on gains in Industrial Products, which offset losses in Financial Services banks. Some are said to be worried about banks' exposure to utilities. Breadth was 842-407 positive. Government of Canada bonds closed mixed in a holiday-shortened session as Michigan Consumer sentiment and Retail Sales data came in weaker than expected. Oil futures were higher.
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