MW: TSX up 2%; Ivanhoe Mines jump 19% on mining deal
By Nicole Hong
SAN FRANCISCO (MarketWatch) -- Canadian stocks edged 2% higher early Thursday, adding to Wednesday's rally. At last check, the benchmark S&P/TSX Composite Index CA:$ISPTX +1.67% was up 184.15 points, or 1.6%, to 11,641.37. The metals and mining sector was 7.6% higher, with shares of Ivanhoe Mines Ltd. CA:IVN +15.19% IVN +13.29% jumping almost 19%. Ivanhoe Mines, Rio Tinto Group and the Mongolian government reaffirmed on Thursday the company's massive Oyu Tolgoi mining project, ending discussions over possible changes. Also in mining, shares of First Quantum Minerals Ltd. CA:FM +7.66% were up 7.8% while shares of Teck Resources Ltd. CA:TCK.B +5.12% gained 4.3%. Energy stocks were 2.5% higher, buoyed by a 4.7% rise in Talisman Energy Inc. CA:TLM +6.30% shares. The Canadian dollar strengthened modestly against the U.S. dollar Thursday USDCAD +0.34% , with one U.S. dollar now purchasing 1.0415 Canadian, versus 1.0405 late Wednesday.
