It would be nice to know what actually caused the climb today. So many different theories abound : a big buyer, shorts covering, Asian currency problems, the Korean situation. Did Quebec Premier Bouchard make a statement late last night? (gg)
Thursday July 17 9:44 PM EDT
Toronto stocks hit new highs
TORONTO, July 17 (Reuter) - Toronto stocks posted another record-setting day on Thursday,
ignoring losses on Wall Street as gold shares powered the Canadian market higher.
The TSE 300 Composite Index gained 10.32 points to close at 6755.13, its sixth straight record
finish. The key index also hit an intraday high of 6765.09.
In New York, the Dow Jones Industrial Average slipped 18 points as investors paused after
surging past the 8000 barrier on Wednesday.
Analysts said corporate earnings should propel the Toronto market to greater heights in the next
few weeks.
POSSIBLE LOST DATA
The precious metals group soared 277 points, or 3.6 percent, to lead gains in eight of 14 sectors.
COMEX August gold ended up US$6 at US$324.70 an ounce, its highest level in 10 days.
Advancing stocks outpaced declines 522 to 473, with 290 issues unchanged.
HOT STOCKS ---
Kinross Gold Corp added 0.50 to 6.20 on 2.2 million shares. Among other gold stocks,
Placer Dome Inc rose 1.10 to 22.60, while Barrick Gold Corp gained 1.15 to 30.65.
Sears Canada Inc rose 2.05 to 21.95 after the department store retailer reported stronger
second-quarter results.
Hummingbird Communications Ltd led net gainers, up 3.90 at 49.80, after the
high-technology firm posted a record third-quarter profit on Wednesday.
United Grain Growers Ltd eased 0.05 to 14.50 after shareholders approved Archer Daniels
Midland's acquisition of a 45 percent stake in the grain handler.
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