(Bloomberg) -- Canadian stocks advanced on speculation
that record industrial metals prices will spur takeovers. Alcan
Inc. led the rally on a report that Rio Tinto Group is about to
trump Alcoa Inc.'s hostile bid for the Canadian aluminum producer.
Financial shares and utilities including Bank of Montreal and
TransAlta Corp. fell on concern they may be hurt by rising losses
in U.S. sub-prime mortgages and higher borrowing costs.
Read more at Bloomberg Stocks News
that record industrial metals prices will spur takeovers. Alcan
Inc. led the rally on a report that Rio Tinto Group is about to
trump Alcoa Inc.'s hostile bid for the Canadian aluminum producer.
Financial shares and utilities including Bank of Montreal and
TransAlta Corp. fell on concern they may be hurt by rising losses
in U.S. sub-prime mortgages and higher borrowing costs.
Read more at Bloomberg Stocks News
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