RTTNews - Canadian stocks could add to yesterday's rebound session on Tuesday as commodity prices have moved to the upside. Stocks recovered nearly 1.5% yesterday after falling more than 500 points last week.
Crude oil prices climbed 84 cents to $60.53 per barrel after dropping sharply throughout the bulk of July. Meanwhile, copper has jumped 5.15 cents to $2.2745 per pound and gold has edged up $1.50 to $924 per pound.
JLL Partners announced 33.84 million shares in the capital of Patheon Inc. (PTI.TO) have since commencement of the offer, been validly deposited to JLL's offer to acquire, at a price of US$2.00 cash per share.
Maximizer Software Inc.'s (MAX.TO) 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.
Across the border, a Commerce Department report showed that retail sales rose 0.6 percent in June following an unrevised 0.5 percent increase in May. Economists had been expecting retail sales to increase by a somewhat more modest 0.4 percent.
Excluding a 2.3 percent increase in sales by motor vehicle and parts dealers, retail sales increased by 0.3 percent in June compared to a 0.4 percent increase in May. The increase in ex-auto sales came in below economist estimates of 0.5 percent growth.
On Monday, the S&P/TSX Composite Index rallied 144.80 points or 1.48% to close at 9,891.93.
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