Stockhouse @ the Bell: Stocks slightly higher on Fed taper talk and stronger gold price

Stockhouse Editorial
0 Comments| December 9, 2013


Today in the markets

U.S. stocks struggled to finish in positive terrain Monday after a Federal Reserve official said the U.S. central bank should pull back the pace of asset purchases “at the earliest opportunity.”

Canadian stocks were mostly higher amid mixed economic news out of Asia and rising commodities, including gold.

The S&P/TSX Composite advanced 32.06 points to 13,312.78, while the TSX Venture Exchange closed down 14.58 points to close at 902.07.

Active stocks included American Airlines (NASDAQ: AAL, Stock Forum), which surged 3% to $24.65 out of the gate. American Airlines Group, the airline giant born from the American Airlines and US Airways merger, began trading Monday on the NASDAQ under the new symbol AAL.

Sysco Corp. (NYSE: SYY, Stock Forum) soared 9.6% to $37.62 after the company announced plans to buy rival US Foods for $3.5 billion U.S., bringing together two of the largest food distributors in the country.

McDonalds Corp. (NYSE: MCD, Stock Forum) fell more than 1.1% to $95.72, even though the fast-food chain reported a slight increase in global sales.

In Canada, Barrick Gold Corp. (TSX: T.ABX, Stock Forum) advanced 3.8% to $17.01  as February gold added $5.20 to US$1,234.20 an ounce.

Guyana Goldfields Inc. (TSX: T.GUY, Stock Forum) advanced 2.5% to $1.64  after the company said it has revised up the total capital cost of its Aurora Gold project to US$249 million and approved a spending plan to bring it to commercial production.

Oil and gas company Equal Energy Ltd. (TSX: T.EQU, Stock Forum) will be acquired by Petroflow Energy Corp. (NYSE: PED, Stock Forum) in a cash deal valued at US$230 million.

Equal Energy shares eased 0.17% to $5.73, leaving a market cap of $204.8 million, based on 35.6 million shares outstanding. The 52-week range is $6.06 and $2.83.

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

Tags: GOLD OIL & GAS E&P ENERGY RESTAURANTS

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