Stock Prices Close Higher
May 10, 2011
The market is ``doing nothing,'' said Solberg Brady of Maison Placements Canada Inc.. And the current sluggishness is expected to continue until after the long Labor Day weekend, he predicts. ``The game will be back on then,'' he adds. The Toronto Stock Exchange 300 Composite Index rose 10.21 to 5184.09, after losing 12.88 Tuesday. Advancing issues exceeded decliners, 452 to 426. Volume totaled 83.4 million shares valued at 980.8 million Canadian dollars, down from Tuesday's total of 87.5 million shares valued at C$1.03 billion. This activity, though hardly exciting, helped Toronto outperform New York, where the Dow Jones Industrial Average ended virtually flat, rising only 1.11 to 5712.38. A 0.67% rise in the heavily weighted gold sector accounted for most of the overall gains, Mr. Brady said. In the group, Barrick Gold, fresh from acquiring a 93% stake in Arequipa Resources, rose 0.35 to 37.90, despite a dip in the underlying bullion price. On the Comex division of the New York Mercantile Exchange, the spot gold price dipped 80 U.S. cents to US$388.50 an ounce. Besides gold stocks, the consumer-product sub-index also provided the market with support, gaining 1.20%. A 0.50 rise in Seagram to 45.90 highlighted the sector's move. Overall, nine of the TSE's 14 stock groups rose.
VastPress 2011 Vastopolis
