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Resource News International, August, 2000
Winnipeg, MB, Canada, Aug. 22, 2000
WINNIPEG, MB, August 22, 2000 - The Toronto Stock Exchange Composite (TSE) climbed to a new closing record today. Rio Algom led the index with gains of 45% after announcing a takeover offer by Noranda. Nortel Networks paced the climb with gains of 1.75%. The TSE index closed up 0.57% or 63.93 points at 11137.2.
Quarterly releases from both the Bank of Montreal and the Royal bank exceeded analysts expectations. Announcements by the Federal Reserve that interest rates would remain unchanged was highly anticipated.
Volume was 142.2 million shares, up from 120.0 million shares on Monday. The value of Tuesday's transactions were up from Monday's at $3.19 billion from $2.88 billion.
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