RTTNews - Bay Street stocks have rallied sharply on Tuesday as bargain-hunters took advantage of yesterday's sharp slump. Mining and technology stocks have led the risers.
The S&P/TSX Composite Index is up 123.25 points or 1.17% to move at 10,654.02. The index lost almost 3% on Monday to finish at its lowest level of the month.
Mining stocks have gained 2%. First Quantum (FM.TO) has gained 4.8% and Teck Resources (TCK.B.TO) has added 1.2%.
Technology stocks are up 1.9%. Research In Motion (RIM.TO) is up $3.9% after the Blackberry maker had its target price raised to $150 from $100 at RBC Capital Markets. The stock kept its Outperform rating.
Oil and natural gas company Cequence Energy (CQE.TO) has dropped 2.5% after the company said that it agreed to buy certain oil and gas producing properties from one of the major publicly traded oil and natural gas company as well as from a private concern. The deal price is valued at about $19 million in cash.
Gran Tierra Energy (GTE.TO) has added 2.7% after the company said it has resumed regular production operations in the Putumayo Basin of Southern Colombia.
WebTech Wireless (WEW.TO) has added 1.7% after the company said it has received an order for 500 model WT5000 Locators from Bridge Security for their customer Vodafone Ghana.
On Monday, the S&P/TSX Composite Index dropped 316.42 points or 2.9% to close at 10,480.18. This marks the lowest close since July 29.
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