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Stockhouse @ the Bell: Stocks get German court ruling boost

Stockhouse Editorial
0 Comments| September 12, 2012

Today in the markets 

U.S. stocks edged slightly higher Wednesday, buoyed by the German court decision and hopes that the Federal Reserve will deliver the expected round of bond purchases. 

Canada’s main index also edged higher as the German court removed a chunk of uncertainty from Europe’s efforts to solve the debt crisis. 

The S&P/TSX Composite Index rose 12.17 points to 12,232.62, while the TSX Venture Exchange was up 8.05 points to close at 1,282.65. 

Active stocks included Apple Inc. (NASDAQ: AAPL, Stock Forum), which rose 1.4% to $669.79 following the unveiling of the iPhone 5.

In Canada, Thompson Creek Metals Inc. (TSX: T.TCM, Stock Forum) (NYSE: TC, Stock Forum) surged 3.4% to $3.33. Barrick Gold Corp. (TSX: T.ABX, Stock Forum) (NYSE: ABX, Stock Forum) 1% to $38.75 after the giant’s CEO vowed to continue to rein in costs. On the telecommunications front, a power struggle between the board of Telus Corp. (TSX: T.T, Stock Forum) and a New York hedge fund appears headed for an appeal court. That was after Mason Capital Management LLC said it will appeal a British Columbia court decision that blocks it from holding a shareholders meeting for investors with Telus voting stock. Telus was up 1.6% to $62.57.

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


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