News Column

SYMBOL:TSX:BCE

February 6, 2014

MALCOLM MORRISON



TORONTO - The Toronto stock market closed higher amid a well-received earnings report from telecom giant BCE Inc. (TSX:BCE) and U.S. data that raised hopes for a strong employment report.

The S&P/TSX composite index ran ahead 153.71 points to 13,713.4, as BCE beat earnings estimates, upped its dividend and posted a positive outlook, sending its shares two per cent higher.

The Canadian dollar was ahead 0.08 of a cent to 90.33 cents US.

The Dow Jones industrials jumped 188.3 points to 15,628.53 as jobless insurance claims, viewed as a proxy for layoffs, fell by a greater than expected 20,000 to 331,000 last week.

The data came out a day before the release of the U.S. government's employment report for January. Economists expect that 183,000 jobs were created following a meagre 74,000 gain in December that was largely blamed on the weather.

The Nasdaq gained 45.57 points to 4,057.12 and the S&P 500 index added 21.79 points to 1,773.43.

(The Canadian Press)


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Source: Canadian Press Broadcast Wire (Canada)


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