Skip to main content

The Globe and Mail

The close: M&A activity, earnings boost markets

The Time Warner Cable Inc. office is shown in Carlsbad, Calif.


Earnings news helped boost the Toronto stock market.

The S&P/TSX composite index jumped 101.16 points to 14,001.65.

Canadian Tire said its quarterly profit jumped 17 per cent as customers bought more snowblowers, salt, shovels and car batteries to deal with a tough winter. And Sun Life Financial lifted the financials sector as the insurer posted quarterly operating income that nearly doubled.

Story continues below advertisement

But a major decliner was Bombardier Inc., with shares tumbling nine per cent as it said that delays in first deliveries of its C-Series aircraft will add about $1-billion in development costs and capitalized interest.

The Canadian dollar was up 0.17 of a cent to 91.1 cents (U.S.).

New York's Dow Jones industrials rose 63.65 points to 16,027.59 amid major acquisition activity as Comcast Corp. confirmed that it plans to buy Time Warner Cable for about $45.2-billion (U.S.) in stock in a deal that would combine the top two U.S. cable TV companies. The Nasdaq was up 39.38 points at 4,240.67 and the S&P 500 index climbed 10.57 points to 1,829.83.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles as we switch to a new provider. We are behind schedule, but we are still working hard to bring you a new commenting system as soon as possible. If you are looking to give feedback on our new site, please send it along to If you want to write a letter to the editor, please forward to