Canada Stocks Ride Higher
The TSE 300 spent the day trading with a modest gain and closed up 40.9 points to 8022.6. Friday's bullish reversal, a close just off the high and a minor gain in Nortel (60 cents) offset the negative U.S. indices. However, the TSE 300 was unable to return to last week's high of 8067. For Tuesday, watch both 8067 and 7982 (Friday's close). Risk is for a slide back. Today eight subindices closed up, lead by recent market leaders Industrials and Financials. Oil & Gas lead the other six subindices lower.
European markets were mixed. In France, the CAC 40 ended up 42.97 points, or 0.79%, to 5,498.52. In Germany, the DAX Index was down 20.32 points, or 0.33%, to 6,117.96. U.K. markets were closed for a bank holiday.
In Asia the Nikkei ended up 107.77 points, or 0.75%, to 14,529.41. Hong Kong's Hang Seng index gained 209.79 points, or 1.57%, to close at 13,600.78.