Bloomberg.com reports that Canadian stocks were up today, driven in part by natural-resource stocks on news of acquisitions.
The story is quoted as saying:
The Talisman deal “is positive for Canadian stocks,” said Mathieu Roy, who helps manage C$1.5 billion ($1.47 billion) as a money manager at Louisbourg Investments Inc. in Moncton, New Brunswick. “It suggests the money’s there to develop. A lot of Canadian companies with North American resources can grow them more quickly because they won’t have any trouble finding partners.”