Canadian Stocks End Strong Quarter On A High Note -- Canadian Commentary

(RTTNews) - Canadian stocks rallied for a second day on Monday amid hopes for stimulus from Europe and China.

Tame inflation data raised speculation the European Central Bank will finally offer more robust support measures.

Meanwhile, U.S. Federal Reserve Chair Janet Yellen reassured investors of ultra-easy monetary policy for the foreseeable future.

And the Canadian economy grew by a more than expected 0.5 percent in January, Statistics Canada said. Economists had estimated the economy to see a 0.3 percent growth in January, following a 0.5 percent decline in December.

The S&P/TSX Composite Index rose 84 points or 0.6 percent, to 14,345.

The index was up fractionally for the month and 4.9 percent for the first quarter.

Canadian energy producer Encana Corp. Monday said its unit Encana Oil & Gas (USA) Inc., has agreed to sell certain natural gas properties in Jonah field to an affiliate of TPG Capital for about $1.8 billion. Encana was down fractionally.

BlackBerry Ltd. (BB.TO) won a preliminary injunction preventing Typo Products LLC from selling its keyboard iPhone case. Still, shares were down 4 percent.

Telus Corp. (T.TO) has named Joe Natale to succeed Darren Entwistle as president and chief executive. Shares were down 1 percent.

Martinrea International Inc. (MRE.TO) shares are up more than 16 percent. The company has reported a 15.3 percent rise in adjusted net earnings for the December 2013 quarter.

Kirkland Lake Gold Inc. (KGI.TO) was down 6 percent. The company has announced that its board has elected to end the strategic review process that was announced on January 6, 2014.