Tuesday, May 13, 2008

TSX hits record high..

The record rise in energy prices seems to be behind this rise along with increases in prices of commodities such as potash. This morning the indices were drifting down again. I would not be surprised if we are due for a correctin in oil prices that will see the TSX drift lower again.

Reuters Canada Business Summary
12/05/08
Stocks hit record high as EnCana and RIM gain
TORONTO (Reuters) - The Toronto Stock Exchange's main index sprung to a record high on Monday, buoyed by EnCana's plan to split itself in two and the release of a new BlackBerry smartphone by Research In Motion . EnCana, Canada's biggest energy company, jumped C$5.68, or 6.6 percent, to C$92.20 after it said on the weekend it will split into a natural gas company and integrated oil sands producer.

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