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TSX Edges Up At Open Friday

Bay Street stocks moved up at open Friday amid buying in commodities, with the S&P/TSX Composite Index adding 32.26 points or 0.27 percent to 12,178.11.

The Global Gold Index rose over 1 percent. Global gold miner Agnico-Eagle Mines (AEM.TO) gained over 7 percent after reporting a higher first-quarter net income. Detour Gold (DGC.TO) and Allied Nevada Gold (ANV.TO) moved up over 2 percent each.

Among base-metals stocks, Inmet Mining (IMN.TO) rose close to 3 percent, while First Quantum Minerals (FM.TO) was adding nearly 2 percent.

Iamgold (IMG.TO) eased 0.20 percent after announcing that it would acquire Trelawney Mining and Exploration Inc. (TRR.V), junior mining and exploration company, for $3.30 cash for each share. Shares of Trelawney soared over 40 percent.

In the oil patch, Pacific Rubiales Energy (PRE.TO) gathered nearly 2 percent.

Meanwhile Petrominerales (PMG.TO) shed 10 percent. IMAX Corp. (IMX.TO) shed over 2 percent even after it swung to profit in first quarter 2012.

by RTTNews Staff Writer

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