Bay Street stocks opened higher Friday amid buying in energy and telecommunications stocks, with the S&P/TSX Composite Index adding 55.62 points or 0.45 percent to 12,511.54.
Media company Astral Media Inc. (ACM_B.TO) skyrocketed over 40 percent to C$53.16 after telecommunications company BCE Inc. (BCE.TO) announced that Bell would acquiring Astral Media for about $3.38 billion.
In the oil patch, MEG Energy (MEG.TO) and Tourmaline Oil (TOU.TO) moved up around 1 percent each.
Among base-metals stocks, First Quantum Minerals (FM.TO) gained over 1 percent.
Industrial wood products company Stella-Jones Inc. (SJ.TO) edged up 0.60 percent after announcing higher fourth quarter profits.
Meanwhile, gold stocks were trading lower amid falling bullion prices. Barrick Gold (ABX.TO), Goldcorp. (G.TO) and Centerra Gold (CG.TO) shed around 1 percent each.
by RTT Staff Writer
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