North American markets bounced back a bit, today, after big declines last week. The Toronto Stock Exchange 300 composite index added 47 points to 7641. The moves were small. Investors seem to be waiting for evidence that corporate earnings are turning around. Although the market was up, market trend among the sub-sectors was slightly negative with seven sectors ending the day down, one unchanged and only six up.
The financial services sector led on the upside with a 1.4% advance. Within that sector Bank of Montreal rose 3.98% to close at $39.20. Royal Bank climbed 3% to $50.00. Bank of Nova Scotia added 2.05% to $47.35. Sun Life put on 2.0% to finish the day at $35.95.
The industrial products sector increased 1.1% on a 13.52% increase in the price of Geac, which closed at $2.77, and a 3.8% increase in the price of Nortel, which closed at $12.56.
The downside was led by a 2% drop in the gold sector.
Among individual issues, Rogers stock was active today after it acquired a 40% interest in Sportsnet on Friday. Rogers B shares were up 5.87% today at $24.70.
News of a private placement by TECSYS Inc., a, distribution management solutions provider with Le Fonds dÕinvestissement REA Inc Friday led to a 6.52% decline in TECSYS shares today. It closed at $2.15.
The CDNX closed relatively unchanged today at 3183, a decline of 1.36 points. Volume was 32 million shares with 186 issues advancing and 191 declining.
At the closing bell the Dow Jones industrial average was up 46 points to 10299. The NASDAQ composite index added 23 points to 2027. The S&P 500 edged up 8 points to 1199.
The Canadian dollar rose 0.08%, today, to close at US65.72¢.