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Stockhouse @ the Bell: Stocks get lift from jobs data

Stockhouse Editorial
0 Comments| October 4, 2012

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Today in the markets

U.S. stocks rose sharply on Thursday, buoyed by the jobs data and news that ECB President Mario Draghi has reiterated the bank’s commitment to its new bond-buying program.

Canada’s main index was also higher as the latest jobs data from the U.S. showed a slight gain and oil prices also moved up.

The S&P/TSX Composite Index rose 88.21 points to 12,447.68, while the TSX Venture Exchange added 15.63 points to close at 1,340.85.

Active stocks included Alcoa Inc. (NYSE: AA, Stock Forum), which rose 3.3% to $9.07, and Bank of America Corp. (NYSE: BAC, Stock Forum), which also added 3.3% to close at $9.41.

In Canada, BMO and UBS upgraded their ratings on Enbridge Inc. (TSX: T.ENB, Stock Forum) after the Canadian pipeline company on Wednesday boosted its EPS-growth target two percentage points to at least 12%. The stock rose 1.7% to $40.08.

Argent Energy Trust (TSX: AET.UN, Stock Forum) said it has agreed to buy producing petroleum properties in Texas and Southern Oklahoma for US$132.5 million. To help fund the purchase, Argent said it plans to sell 11 million units at $10 each, for proceeds of $110 million. Argents units eased 4.4% to $10.12.

For news about small stocks that made big moves in Thursday’s trading, please read the

Stockhouse Canadian Small and Micro-cap Stock Report



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