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Stockhouse @ the Bell: Stocks stage Black Friday rally

Stockhouse Editorial
0 Comments| November 23, 2012


Today in the markets 

U.S. stocks rallied Friday, buoyed by encouraging economic data from Germany and China as American consumers went shopping to take advantage of Black Friday promotions. 

Canada’s main index was also up in thin trading, driven by stronger commodity prices and earnings expectations for financial stocks. 

The S&P/TSX Composite Index rose 60.14 points to 12,213.24, while the TSX Venture Exchange gained 10.61 points to close at 1,258.97. 

Active stocks included Wal-Mart Stores Inc. (NYSE: WMT, Stock Forum), which rose 1.3% to $70.20 as early indicators from Black Friday sales and foot traffic gave retailers hope for the holiday season. Target Corp. (NYSE: TGT, Stock Forum) gained 1.2% to close at $64.48.

In Canada, Research In Motion Ltd. (TSX: T.RIM, Stock Forum) (NASDAQ: RIMM, Stock Forum) appears to be righting itself.  But the stock fell 3.25% to close at $11.61. RIM stock spiked 17% Thursday after National Bank Financial analyst Kris Thompson increased his price target for the BlackBerry maker to $15 from $12 U.S.

The mining sector gained as December copper on the Nymex added two cents to $3.51 U.S. a pound. Turquoise Hill Resources Ltd. (TSX: T.TRQ, Stock Forum) gained 3.9% to $7.34 while First Quantum Minerals Ltd. (TSX: T.FM, Stock Forum) inched down 0.36% to $21.84.

The energy sector was off and Canadian Natural Resources Ltd. (TSX: T.CNQ, Stock Forum) was ahead 1.1% to $27.94 while Talisman Energy Inc. (TSX: T.TLM, Stock Forum) (NYSE: TLM, Stock Forum) advanced 3.8% to $11.68.

For news about small stocks that made big moves in Friday’s trading, please read the

Stockhouse Canadian Small and Micro-cap Stock Report 


Tags: INDUSTRIAL METALS & MINERALS OIL & GAS E&P COMMUNICATION EQUIPMENT STOCKS

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