Stocks Consolidate Gains by Noon
Canada''s main stock index rose for a third straight session on Tuesday on gains in the financial sector, while West Fraser Timber soared to the top of the benchmark after a report on a buyout bid. The TSX leaped 296.1 points, or 1.6%, to 18,891.72. The Canadian dollar sprang up 0.53 cents to 77.56 cents U.S. Shopify shares acquired $1.35, or 3.2%, to $43.59, after it announced a partnership with Alphabet Inc''s YouTube to allow merchants to sell through the video platform. Elsewhere in individual stocks, West Fraser Timber jumped $19.18, or 17.8%, to $127.12, after Reuters reported that private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest to acquire the Canadian lumber company. In financials, Canaccord picked up 33 cents, or 3.9%, to $8.83, while goeasy Ltd. Jumped $3.30, or 3.3%, to $104.61. In materials, Canfor Corp. hiked $1.41, or 5.8%, to $25.89, while Methanex gathered $1.78, or 3.7%, to $50.30. In consumer discretionary issues, Magna International jumped $3.97, or 5.4%, to $77.54, while Spin Master popped $1.71, or 3.9%, to $45.86.
Stocks Consolidate Gains by Noon
Canada''s main stock index rose for a third straight session on Tuesday on gains in the financial sector, while West Fraser Timber soared to the top of the benchmark after a report on a buyout bid. The TSX leaped 296.1 points, or 1.6%, to 18,891.72. The Canadian dollar sprang up 0.53 cents to 77.56 cents U.S. Shopify shares acquired $1.35, or 3.2%, to $43.59, after it announced a partnership with Alphabet Inc''s YouTube to allow merchants to sell through the video platform. Elsewhere in individual stocks, West Fraser Timber jumped $19.18, or 17.8%, to $127.12, after Reuters reported that private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest to acquire the Canadian lumber company. In financials, Canaccord picked up 33 cents, or 3.9%, to $8.83, while goeasy Ltd. Jumped $3.30, or 3.3%, to $104.61. In materials, Canfor Corp. hiked $1.41, or 5.8%, to $25.89, while Methanex gathered $1.78, or 3.7%, to $50.30. In consumer discretionary issues, Magna International jumped $3.97, or 5.4%, to $77.54, while Spin Master popped $1.71, or 3.9%, to $45.86.