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Economy & Markets

Bombardier shares soar after Airbus deal

By Canadian Press |
Source: The Canadian Press

Canada's main stock index eked out a minor gain today, as shares of Bombardier Inc. soared following its CSeries deal with Airbus.

Shares in Bombardier were the most heavily traded stock on the Toronto Stock Exchange as they gained nearly 16% or 37¢ at $2.73 at the end of the trading session. The company announced a deal late Monday that will see Airbus obtain a majority stake in the CSeries aircraft.

The S&P/TSX composite index advanced 14.20 points to 15,816.90. The Canadian dollar was trading at an average price of US79.69¢, down 0.12 of a cent.

In New York, the Dow Jones industrial average was up 40.48 points to 22,997.44. The S&P 500 index was up 1.72 points to 2,559.36 and the Nasdaq composite index was down 0.35 of a point to 6,623.66.

The December crude contract was down US3¢ to US$52.11 per barrel and the November natural gas contract was up US2¢ at US$2.96 per mmBTU.

The December gold contract was down $16.80 to US$1,286.20 an ounce and the December copper contract was down US4¢ to US$3.20 a pound.