Today in the markets
U.S. stocks bounced back Friday, buoyed by better-than expected results from Hewlett-Packard and AIG.
Canadian stocks also recovered after worries about the future of U.S. economic stimulus drove the TSX lower during the previous two sessions.
The S&P/TSX Composite climbed 61.66 points to 12,701.63, while the TSX Venture Exchange gained 10.71 points to close at 1,144.68.
Active stocks included Hewlett-Packard Co., (NYSE: HPQ, Stock Forum), which rose 12.28% to $19.20 after reporting first-quarter results after the close of trading on Thursday.
American International Group Inc. (NYSE: AIG, Stock Forum) edged up 3% to $38.45 despite reporting a net loss of $4 billion or $2.68 per diluted share in the fourth quarter.
In Canada, Shares of Canadian fertilizer company Agrium Inc. (TSX: T.AGU, Stock Forum) fell 5.2% to $103.14 after reporting a record profit for the fourth quarter that beat estimates due to higher demand for crop-protection products.
The company is embroiled in a proxy fight with its largest shareholder, Jana Partners LLC, which holds a 6.5% stake in Agrium.
Barrick Gold Corp. (TSX: T.ABX, Stock Forum) (NYSE: ABX, Stock Forum) was up 0.48% to $31.12, leaving the shares of the world’s leading gold producer near a 5-year low.
For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report