Dec 3, 2012 / 6:45 am
The Toronto stock market is slightly higher amid news that China's manufacturing sector finally moved back to expansion mode.
The S&P/TSX composite index gained 10.36 points to 12,249.72 as HSBC's Purchasing Managers' Index for the world's second-biggest economy rose to 50.5 in November from October's 49.5. Any reading above 50 indicates activity is expanding. It was the first time in 13 months that China's manufacturing sector emerged from contraction.
The Canadian dollar was up 0.03 of a cent to 100.67 cents US.
The Dow Jones industrials gained 50.69 points to 13,076.27, as traders also looked to negotiations aimed at avoiding a fiscal crisis by the end of the year. The Nasdaq composite index rose 17.69 points to 3,027.93, and the S&P 500 index was ahead 6.64 points to 1,422.82.
Traders also took in a major deal in the food sector. Dairy and grocery products company Saputo (TSX:SAP) is paying US$1.45 billion to buy Morningstar Foods, a U.S. company that makes a variety of dairy and non-dairy products.
Read more Business News
|QHR Technologies Inc||0.55||-0.03|
|Anavex Life Sciences||0.54||+0.05|
|Copper Mountain Mining||1.52||-0.16|
The majority of Canadians prefer to make their big move during the summer season. There are a variety of reasons for choosing this time of year: it is easier to transport boxes in non-icy condition...
It appears as though more people these days are looking for an investment in real estate which offers cash flow returns. The fundamentals of cash flow type properties had been turned upsi...
Getintheloop Marketing Ltd. recently launched their membership platform, Getintheloop.ca. The new website offers an exclusive members area for access to discounts in the South Okanagan on premium res...
- Sharktopus views turns on YouTube TV
- Social media makes Disney blink
- BCE looks to cut $170 million
- TD Bank: Loonie could fall to 90 cents US
- Mixed results for North American markets
- Ex-Enron CEO cuts new deal
- Canadian dollar nudges upward
- Microsoft extends agreement with Yahoo
- Iamgold profits drop 91 per cent in Q1
- Rogers puts pressure on Bell Astral deal
- Beer company roots for Canadian teams
- New milestone for Dow Jones