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Friday, December 10, 2010

Another day in the green for the TSX, closed up 0.55% from yesterday to end the week at 13239. Every sector posted a gain, lead by metals & mining, health care, and telecom. http://tmx.quotemedia.com/marketsca.php?locale=EN

The S&P almost registered the exact same percentage gain, up 0.6% from yesterday to end the week at 1240. All sectors on the S&P also posted gains, lead by industrials, health care, and financials. http://www.standardandpoors.com/indices/sp-500/en/us/?indexId=spusa-500-usduf--p-us-l--

The Canadian financials finished the day up 0.87% to close at 184. Weekly financial chart shown below.



http://tmx.quotemedia.com/marketsca.php?locale=EN

BNS lead the Canadian financials.


BMO.TO61.74-0.10-0.16%BANK OF MONTREALChart For BANK OF MONTREAL
BNS.TO56.00+0.66+1.19%BANK OF NOVA SCOTIAChart For BANK OF NOVA SCOTIA
RY.TO52.75+0.28+0.53%ROYAL BANK OF CANADAChart For ROYAL BANK OF CANADA
CM.TO77.31+0.14+0.18%CANADIAN IMPERIAL BANK OF COMMEChart For CANADIAN IMPERIAL BANK OF COMME
NA.TO70.22+0.71+1.02%
Company nameExchangeCurrencyPriceChangeChg %
TDToronto-Dominion BankTSECAD73.250.000.00%



The US financials finished up 0.88% to close at 212.

Citigroup lead the way south of the border, with a 1.67% gain.
http://stockcharts.com/scripts/php/candleglance.php?C,JPM,WFC,BAC,RY,TD,BNS,$DJUSBK

This mini-rally should continue into next week, as commercial and retail investors get their year end trades in ahead of the holidays.

Stronger than expected economic data and consumer confidence levels should support the rally.
http://www.bloomberg.com/news/2010-12-10/most-asian-stocks-fall-euro-trades-near-week-low-on-china-rate-concerns.html

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