Canadian stocks closed higher as recent price drops led to bargain hunting. Dell's expectation to meet reduced Q1 estimates, as opposed to guiding lower, also fueled buying, particularly among tech-related stocks. The TSE 300 rose 156.85 points to 7572.30. The S&P/TSE 60 rose 9.75 points to
442.11. Breadth was 788-409 positive. Most sectors advanced, with only Gold & Precious Minerals and Pipelines losing ground. Government of Canada bonds weakened. The June Canadian dollar settled lower at 63.53 cents vs. the U.S. dollar. May crude
settled up $0.14 at $27.26. April gold settled down $0.30 at $258.10.
The Financial Times-Stock Exchange 100 index closed up 86.10 points, or 1.56%, to 5621.80 as the Bank of England cut the key rates 25 basis points. In Germany, the DAX Index ended higher by 178.92 points, or 3.20%, to 5776.58. In France, the CAC 40 gained 86.74 points, or 1.71%, to 5158.56.
In Japan, the Nikkei finished up 138.60 points, or 1.05%, to 13381.38. The Hang Seng lost 520.51, or 4.14%, to 12063.71.