Today in the markets
U.S. stocks continued their record climb Monday, bringing the S&P 500 Index within an all-time high, while the Dow extended its longest winning streak in almost a year.
Canadian stocks closed higher after getting a late-morning lift from Blackberry, which rallied on takeover speculation.
The S&P/TSX Composite rose 22.88 points to 12,858.49, while the TSX Venture Exchange was off 1.58 points to close at 1,116.27.
Active stocks included Genworth Financial Inc. (NYSE: GNW, Stock Forum), which jumped 7% to $10.50 after Barron’s reported that the shares of the recently reorganized life insurser and provider of mortgage securities could nearly double in the next year.
In Canada, BlackBerry (TSX: T.BB, Stock Forum) shares ran up 13.8%, to $13.85 amid news that the company's new Z10 smartphone will go on sale in the U.S. on March 22 through AT&T. The Z10 has already launched in Canada, the U.K., India and a few other markets to date.
Inmet Mining Corp. (TSX: T.IMN, Stock Forum) continues to be in play. It's the target of a $5.1-billion hostile takeover offer from First Quantum Minerals Ltd. (TSX: T.FM, Stock Forum), which has said its offer of stock and cash worth about $72 per share will expire later Monday. Inmet was almost unchanged, rising 0.16% to $68.63. First Quantum was up 1% to $20.64.
Toronto-based Inmet has recommended that shareholders reject First Quantum's bid, although it hasn't produced a superior offer.
For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report