By Commodity News Service Canada
WINNIPEG, MB, Oct. 26, 2017 (CNS Canada) – The Canadian
stock market surged Thursday morning after the Aecon Group Inc.
sale was announced. Shares surged 19 per cent after the company
agreed to be bought by China’s CCC International Holdings.
At 9:05 CDT Thursday morning the Canadian dollar was at
US$0.7801 or C$1.2816 which compares with Wednesday’s North
American close of US$0.7830 or C$1.2771.
Oil prices steadied Thursday, pressured by an unexpected
increase in United States crude inventories, high U.S.
Read Also
Feed Grains: Iowa Corn Growers President urges U.S. not to leave NAFTA
By Commodity News Service Canada Winnipeg, Jan. 19 (CNS) – Following are a few highlights in the Canadian and world…
highs by tighter crude markets. Brent crude was unchanged
overnight still sitting at US$58.44 a barrel.
Aecon Group Inc. has agreed to be bought by China’s CCC
International Holdings in a $1.4 billion all-cash deal. Aecon
Group is of Canada’s engineering giants and with this deal it
will now be under foreign control. Under the terms of the deal,
Aecon shareholders will receive $20.37 per share – a 23 per cent
premium to Wednesday’s closing price.
Wall Street opened a tad bit higher Thursday, as investors
assessed a flood of corporate results in one of the busiest days
for the third-quarter earnings season. The Dow Jones Industrial
Average added 113.42 points, or 0.49 per cent, to 23,422.88. The
Nasdaq Composite gained 3.53 points, or 0.05 per cent, to
6,567.42.
The Toronto TSX/S&P Composite Index opened higher Thursday
as financial and energy groups gained ground, while shares of
Aecon Group Inc. surged 19 per cent after the company agreed to
be bought by China’s CCC International Holding Ltd. The TSX/S&P
rose 44.76 points, or 0.28 per cent, to 15,899.53. Eight of the
index’s 10 main groups were higher.
