Today in the markets
U.S. stocks rebounded Thursday on stronger than-expected data on the U.S. jobs market and details of a Spanish austerity plan that focuses on spending cuts.
Canada’s main index was also up as commodity prices gained ground on expectations that China may move to stimulate its economy.
The S&P/TSX Composite Index jumped 105.99 points to 12,338.85, while the TSX Venture Exchange was up 15.45 points to close at 1,322.31.
Active stocks included Sealy Corp. (NYSE: ZZ, Stock Forum), which rose more than 1.8% to $2.18 after rival company Tempur-Pedic International Inc. (NYSE: TPX, Stock Forum) said it was buying the company for $228 million U.S. Sealy reported zero earnings per share, falling short of expectations. The company canceled a morning earnings call, citing the new deal. Meanwhile, Temper-Pedic shares surged 14% to $30.64
In Canada, all eyes were on Research in Motion Ltd. (TSX: T.RIM, Stock Forum), which rose 1.16% to $6.96 ahead of the release of its second-quarter financial results after the close of trading, Thursday.
China's CNOOC Ltd. believes it is poised to win Canada's go-ahead for the $15.1-billion purchase of oil producer Nexen Inc. (TSX: T.NXY, Stock Forum) (NYSE: NXY, Stock Forum), after talks with provincial leaders boosted its confidence that Canada values China as an investor in its huge oil sands sector and as a future energy customer.
For news about small stocks that made big moves in Thursday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report.