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Stockhouse @ the Bell: Stocks get Microsoft (MSFT) lift

Canadian Press, The Canadian Press
0 Comments| September 17, 2013

Today in the markets

U.S. stocks were lifted Tuesday by a rise in the value of Microsoft Corp. shares, as investors wait to see if the Fed will slow the pace of its US$85-billion-a-month in bond purchases.

Canadian stocks also rose with investors showing few worries about the strong possibility that the U.S. Federal Reserve will soon announce it's ready to start reducing monetary stimulus.

The S&P/TSX composite index climbed 17.23 points to 12,834.11.  The TSX Venture Exchange eased down 4.12 points to 935.42.

Active stocks included Microsoft Corp. (NASDAQ: MSFT, Stock Forum), which rose 0.39% to US$32.93 after the tech company's board approved a 22 per cent increase to its quarterly dividend along with a new $40 billion stock buyback program.

The stock had traded as low as US$26.26 last December.

In Canada, Barrick Gold Corp. (ABX: T.ABX, Stock Forum) (NYSE: ABX, Stock Forum) rose 0.64% to $18.87 after the miner said Tuesday it is working to strengthen its governance practices and is looking to add new independent directors to its board.

Tag Oil Ltd. (TSX: T.TAO, Stock Forum) was up 0.91% to $4.42, as investors reacted to an update on its oil and gas exploration efforts in New Zealand.

The company said its Cardiff-3 well was spudded on September 2, 2013 and is presently drilling at a depth of 1,000 metres. The Cardiff-3 well will take approximately 30 more days to reach its total projected depth of 4,900 metres, the company said in a press release.

For news about small stocks that made big moves in Tuesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


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