By Gavin Adamson
(April 25- 17:00 ET) – Investors jumped back into tech stocks that were pummelled yesterday. A few of the industrials posted good earnings reports, too, leading a broad market rally.
The Toronto Stock Exchange jumped by 285.92 points to 9,108.40, led by gains in BCE, up C$14.05 and Nortel, up $12.90 to $156.40. Smaller tech players like Certicom gained, as did Research in Motion and JDS Uniphase.
The financials edged upwards with Trimark still at the forefront of take-over rumours. The banks edged up as well.
The Canadian Venture Exchange’s tech sub-index fought back as well, led by Ecompark. But the oil and gas companies sunk the index, leaving it off by 9.34 points to 3,562.79.
JDS was at the center of a big NASDAQ rally as well. The composite index rose by 228.65 points to 3,7311.13, buoyed by investments in Qualcomm, Intel, Oracle. Microsoft also bounced back a little from yesterday’s rout.
The Dow Jones industrial average was led upwards by Exxon and Xerox, which posted good financial results. Minnesota Mining & Manufacturing and Proctor & Gamble capped gains with some warnings that their profits might not meet analyst’s expectations. The Dow added 218.72 points to 11,124.82, and the Standard & Poor’s gained 47.63 points to 1477.49.