Stocks rally on a rescue package
Posted May 10, 2010 04:31:22 AM.
This article is more than 5 years old.
North American stocks have rocketed higher after investors gained reassurance from a European Union debt rescue package.
The Toronto stock market closed up 255 points while the Dow soared more than 405 points.
The one trillion dollar package also caused the loonie and other currencies to rebound sharply against the American dollar.
The Canadian dollar closed up 1.83 cents at 97.63 cents U.S.
Economists expect the loonie will continue a slow, halting march back towards parity with the U.S. currency.
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