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Toronto, Montreal surge
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February 11, 1999: 5:16 p.m. ET
Vancouver uninvited to the party sweeping through other Canadian markets
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NEW YORK (CNNfn) - The Toronto stock market closed in positive territory on Thursday, gaining back some of the losses it notched up in recent days.
The Toronto Stock Exchange's key 300 Composite Index finished higher by 90.09 points, or 1.41 percent, at 6,490.80. In the broader market volume totaled 90.4 million. Advances topped declines 489 to 482 with another 307 issues unchanged.
Fred Ketchen, director of equity trading at Scotia MacLeod, said the positive move in the market was a welcome change from the drops experienced in the past few sessions.
"After all the stuff that's been going on, it's nice to see a rebound," he said, noting a lot of people were wondering what kind of correction it would be and how long it would last.
On Wednesday, the TSE 300 fell 43.26 points, or nearly 0.7 percent, to close at 6,400.71 points.
Overall, all but one of the TSE 300's 14 subindexes finished in positive territory, led by a 2.5 percent hike in the industrial products group and 2.28 percent climb in the oil and gas group.
Elsewhere in Canada, the Montreal Stock Exchange surged forward, also advancing on strong performances in the industrial products and oil and gas sectors. The benchmark Portfolio index advanced 68.61, or 2.02 percent, to finish the day at 3,457.33. Advancing issues edged out declines 179 to 176, with 73 issues unchanged.
Further west, the Vancouver Stock Exchange was apparently uninvited to the rally sweeping through the other Canadian markets. The Vancouver Composite lost 1.89 points, or 0.46 percent, to finish at 410.39. Declining issues narrowly beat out advancing issues 198 to 181 with 128 issues unchanged.
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