Today in the markets
U.S. stocks climbed Monday, buoyed by signs of government progress toward averting the fiscal cliff of spending cuts and tax hikes.
Canadian stocks were lower on broad market weakness in spite of modestly higher commodity prices and positive news on the fiscal cliff front.
The S&P/TSX Composite Index fell 15.37 points to 12,281.35, while the TSX Venture Exchange edged up 1.37 points to close at 1,184.99.
Active stocks included Apple Inc. (NASDAQ, AAPL, Stock Forum), which rose 1.7% to $518.83 after the company said it sold 2 million more iPhone 5s in China.
Shares of Bank of America Corp. (NYSE: BAC, Stock Forum) up 3.9% to $11 and Travelers Cos. Inc. (NYSE: TRV, Stock Forum), up 1.1% to $74.19, were among the biggest gainers.
In Canada, shares of Research in Motion Ltd. (TSX: T.RIM, Stock Forum) (NASDAQ: RIMM, Stock Forum) were down 1.6% to $13.66 after the company said its new BlackBerry 10 operating system is undergoing an invitation-only user testing phase.
First Quantum Minerals Ltd. (TSX: T.FM, Stock Forum) said Sunday it has increased its offer for rival Canadian miner Inmet Mining Corp. (TSX: T.IMN, Stock Forum) to $72. per share. The new hostile offer is an improvement from its two previous bids of $70 and $62.50, valuing Inmet at approximately $5.1 billion.
First Quantum fell 4% to $20.11, while Inmet rose 4.3% to $72.85.
For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report