TSX ends discordant session on high note
By Wojtek Dabrowski
TORONTO (Reuters) - The Toronto Stock Exchange's main index finished Monday's scattershot session in positive territory after a series of wild swings that saw the benchmark jump, plunge and surge again as volatility ruled.
The key S&P/TSX composite index .GSPTSE rose 116.34 points, or 0.88 percent, to close at 13,350.13. Earlier, the index set the day's low at 13,131.08.
"I think what investors are trying to do is they're trying to see some daylight," said Adrian Mastracci, portfolio manager at KCM Wealth Management Inc, in Vancouver, British Columbia. "They're not really finding it yet."
All but one of the 10 main index groups ended higher, including the key energy and financials groups, which added 0.68 percent and 3.34 percent respectively.
The materials group was the sole decliner, shedding 1.67 percent.
The S&P/TSX 60 index of large Canadian companies added 6.92 points to end at 783.44.
The see-saw session began with a rise of more than 100 points, but by 3 p.m. (1900 GMT) the index had plunged by the same amount. The last hour saw another change in direction, leading to the positive finish.
There was relatively little corporate news or other data to sway investor sentiment on Monday aside from U.S. Treasury Secretary Henry Paulson's proposal to overhaul that country's financial regulatory landscape. Continued...