TSX gains as Astral shares soar on BCE takeover
Index down 0.05 percent for the week
By Jennifer Kwan
TORONTO, March cheap canada goose uk 16 (Reuters) Toronto main stock canada goose index jumped on Friday as shares of Astral Media soared on news that BCE Inc will buy the media company canada goose uk outlet for C$3 billion.
The parent of Bell Canada said on Friday it has agreed canada goose clearance to acquire Astral, its largest content provider, canada goose coats in a deal canada goose uk black friday to lock up more of the programming carried over its media platforms and expand Canada Goose Coats On Sale its presence in French speaking Quebec.
Shares of Astral jumped 33.9 percent to C$48.55. BCE fell 1.1 percent to C$39.64.
The canada goose black friday sale news comes on the heels of other recent takeover stories including Neo Material Technologies, which soared last week after Molycorp said it would buy the rare earth processing buy canada goose jacket company in a C$1.3 canadian goose jacket billion deal.
Viterra is also the focus of buyout talk with Swiss trading house Glencore planning a three way carve up of Canada Goose Jackets Canada biggest grain handler with privately owned Richardson International and fertilizer producer Agrium canada goose outlet, according to an industry source.
like to see these deals. From Neo Materials to Viterra Canada Goose sale to Astral Media. What does this tell us? It tells us that valuations have gotten too cheap, there a canada goose store lot of excess cash, said Barry Schwartz, canada goose uk shop portfolio manager at Baskin Financial Services.
got low interest rates so it cheap to borrow money; credit is flowing again. In that situation we just scratching the surface in terms of canada goose clearance sale takeovers.
The Toronto Stock Exchange S composite index canada goose coats on sale finished the day up 41.14 points, uk canada goose outlet or 0.33 percent, at 12,496.96, with five of its 10 main sectors higher. It slipped 0.05 percent for the week.
The blue chip S 60 index rose Canada Goose online 3.08 points, or 0.44 percent, to buy canada goose jacket cheap 710.74.
Fred Ketchen, director of equity trading at ScotiaMcLeod, said takeover news tends to uk canada goose put some buying Canada Goose Outlet interest into the broader market.
you get a takeover bid in one area or sector you wonder is this a takeover fever that is rebuilding. There is money around, he said. does show the interest is there and the trend is there.
Groups leading Friday gains Canada Goose Parka included the index heavyweight materials, energy and financial sectors as investors felt better about the broader economic outlook, while canada goose factory sale oil prices were higher.
Elsewhere, key stocks on the upside included fertilizer companies. Shares of Potash Corp and Agrium rose 6.6 percent and 3.2 percent https://www.canadagooseoutletcanada.ca, respectively, after data indicated that North American inventory levels for potash tightened for the first time since October 2011.
Large miners like Potash and Mosaic have been scrambling to cut output for cheap Canada Goose months as farmers and dealers had stalled purchases of the crop nutrient, Canada Goose Online leading to fears of a decline in the price.