Pfizer in vogue
Rising miners helped give the
The S&P/TSX composite index gained 76.78 points to greet noon at 14,610.84
The Canadian dollar poked ahead
Base metal miners advanced after
On the merger and acquisition front, Botox-maker Allergan has rejected the
It says the bid undervalues Allergan, isn't in the best interests of the U.S. company and creates risks and uncertainties for its shareholders. The
In other corporate news, Chemtrade Logistics Income Fund says it has an agreement to sell its refinery services business in
All but one of the 14 Toronto subgroups were in the green midday, with metals and mining spiking 3.3%, global base metals stronger by 3.1%, and materials gaining 1.6%.
The lone holdout was utilities, off 0.2%.
Major indices jumped in Monday morning trading
The Dow Jones Industrial Average screamed ahead 101.85 points to break for lunch at 16,685.19
The S&P 500 gained 15.23 points to 1,893.71, and the NASDAQ composite index soared 59.90 points to 4,131.77
While investors have continued pouring into the perceived safety of blue chip companies, tech stocks have been hammered as investors fret about sky-high valuations and in some cases not-yet-proven business models.
There was also a bit of that merger Monday feeling in the air, after Hillshire Brands announced plans to acquire packaged foods company Pinnacle Foods for
Investors are also on the lookout for another mega health-care deal, of which there have been aplenty so far this year.
Pfizer shares rose after the company published a letter to a parliamentary committee in the
The chief executives of both companies will be grilled by British lawmakers Tuesday and Wednesday, reflecting high levels of public anxiety over the impact of a takeover on jobs and scientific research in the
So far the two health care giants have been unable to reach an agreement, but if completed, the deal would likely be the second biggest pharmaceutical deal after Pfizer's
GoGo soared after the company beat earnings estimates. The inflight internet provider reported a narrower loss compared to a year earlier and said that its revenue climbed 35%.
Ralph Lauren suffered after the iconic clothing company's stock was hit with an analyst downgrade. The stock has been sliding and is down more than 16.5% this year as it struggles to keep up with the competition.
Twitter was slowly crawling back Monday. The stock is down 15% in the past five trading sessions, a victim of the broader sell-off in various tech names, but it is trading solidly above
Prices for 10-year U.S. Treasuries stepped back, lifting yields to 2.65% from Friday's 2.62%. Treasury prices and yields move in opposite directions
Oil prices took on
Gold prices gained
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