RTTNews - Canadian stocks have moved slightly higher on Tuesday, boosted by some strength in the mining sector. Investors are mulling over a slew of economic reports from both sides of the border, including Canadian automobile data that came in-line with forecasts.
The S&P/TSX Composite Index climbed 31.98 points or 0.32% to move at 9,924.21. The index jumped nearly 1.5% yesterday after finding a two-month low last week.
Mining stocks are up about 1% as copper rose 4.8 cents to $2.271 per pound. HudBay (HBM.TO) has added 3.25% and First Quantum (FM.TO) is up 1.4% to lead the gainers.
Tech stocks are down 0.8%. Research in Motion (RIM.TO) has lost 1.4% to drag the index lower.
Grande Cache Coal Corp. (GCE.TO) has gained 5.4% after the company lifted its fiscal 2010 sales volume outlook to 1.3 million - 1.5 million tonnes from its prior range of 1.2 million - 1.4 million tonnes.
Bombardier Transportation (BBD-B.TO) said that it has signed contracts with the City of Phoenix for the supply and operations and maintenance of an automated people mover at Phoenix Sky Harbor International Airport. Shares are down 1.9%.
Synergex Corp. (SYX.TO) has jumped 12.5% after the company said it entered into an agreement to acquire the licensing, production, and distribution business as well as the video and music product pipeline of BrainWorks Entertainment.
Maximizer Software (MAX.TO) has plunged 10% after the company said its second-quarter net loss widened to US$0.42 million from US$0.27 million in the previous year.
On the economic front, Canadian new motor vehicles sales continued to rise in May. Increased truck sales led to a 1.0% rise in the number of new motor vehicles sold in May to 121,348 units. The result was in line with analysts' expectations.
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