Oil Lifts Canada Shares
Canada's benchmark TSE 300 traded in a choppy manner Wednesday in a relatively narrow range and closed up 26.5 points to 7868.10. The continued rally in the oil sector and the +$3 bounce in gold pulled the TSE 300 higher. However, the slide back in U.S. indexes were a weight. Canadian technolog stock Celestica disappointed and closed down C$1.45. Thursday is a key earnings report day, but most companies --like Nortel -- are not releasing their reports until after Thursday's market close -- an argument for another choppy day.
European stock markets were mixed. In London, the Financial Times-Stock Exchange 100 index closed with a gain of 4 points, or 0.08%, to 5,263.90, as U.K. March payrolls fell 6,000 while the unemployment rate remained at a 26-year low of 3.1%.
In France, the CAC 40 lost 1.44 points, or 0.03%, to 4,597.30. And in Germany, the DAX Index fell 25.33 points, or 0.47%, to 5,318.55.
In Asia , the markets ended higher. Japan's Nikkei gained 197.05 points, or 1.74%, to close at 11,543.71, led by exporter shares on the back of renewed hopes for earnings and economic recovery in the U.S. following better-than-expected financial results and outlooks from Intel and General Motors. In Hong Kong, the Hang Seng surged 302.05 points, or 2.80%, to close at 11,090.58.