RTTNews - Bay Street stocks are slightly higher Monday morning and reached a new 9 1/2-month high. Financials led the Bay Street market higher.
The S&P/TSX Composite Index has added 56.58 points or 0.52% to 10,744.92. If the gains hold, the index will finish at its best level since October 3.
Financials are up 2.1%. CIBC (CM.TO) has gained 2.5%, Bank of Montreal (BMO.TO) is up 1.9% and National Bank (NA.TO) is up 1.1%.
In corporate news, Addax Petroleum (AXC.TO) is flat after the company announced second quarter net income of US$38 million or US$0.24 per share, compared to US$293 million or US$1.83 per share in the prior year period.
Cott Corp. (BCB.TO) has dropped 4.9% after the company announced that its second-quarter net income attributable to the company was US$33.7 million or US$0.48 per share, compared to a net loss of US$1.8 million or US$0.03 per share in the year ago quarter.
Moto Goldmines Limited (MGL.TO) has slipped 1.3% after the company confirmed that its board has determined the US$244 million takeover offer from Randgold Resources Limited is superior to the current agreement between Moto and Red Back Mining (RBI.TO). Red Back shares are up 2.1%.
Centerra Gold (CG.TO) has added 4.8% after the company said that the Chairman of the Minerals Resources Authority of Mongolia has issued a decree reinstating the Boroo Mine's main operating licenses.
Across the border, Verizon Communications (VZ) reported second quarter net income attributable to Verizon of $1.48 billion or $0.52 per share, compared to $1.88 billion or $0.66 per share last year.
A Commerce Department report showed that new home sales jumped 11% to an annual rate of 384,000 in June from the revised May rate of 346,000. Economists had expected sales to rise to 352,000 from the 342,000 originally reported for the previous month.
For comments and feedback: contact firstname.lastname@example.org