(Bloomberg) -- Canadian stocks rose for a second day
after Western Oil Sands Inc. was bought by Marathon Oil Corp. for
$5.8 billion and crude oil rose to a one-year high.
The proposed deal helped allay investor concern that credit
losses at banks will end the takeover boom. The Standard &
Poor's/TSX Composite Index rose 124.83, or 0.9 percent, to
13,989.55 as of 11:46 a.m. in Toronto. It's gained 1.8 percent in
two days after dropping 5.7 percent last week.
Read more at Bloomberg Stocks News
after Western Oil Sands Inc. was bought by Marathon Oil Corp. for
$5.8 billion and crude oil rose to a one-year high.
The proposed deal helped allay investor concern that credit
losses at banks will end the takeover boom. The Standard &
Poor's/TSX Composite Index rose 124.83, or 0.9 percent, to
13,989.55 as of 11:46 a.m. in Toronto. It's gained 1.8 percent in
two days after dropping 5.7 percent last week.
Read more at Bloomberg Stocks News
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