Global Markets: Global markets rise

By Commodity News Service Canada

WINNIPEG, May 10 (CNS) – Global markets opened stronger
Thursday morning, taking strength from overnight gains on Wall
Street. France’s CAC 40 rose nearly 0.1 per cent in early
trading to 5,539.46 while Japan’s benchmark Nikkei 225 advanced
0.4 per cent to close at 22,497.18. Australia’s S&P/ASX 200
gained 0.2 per cent to 6,118.70.
Magna International is reporting a robust first-quarter
profit. The auto parts manufacturer earned C$660 million, which
compares with C$577 million made during the same time last year.
Sales rose 21 per cent during that same period, which is
credited with sparking the better performance.
Canadian Tire has agreed to buy a European maker of outdoor
clothing in a deal worth just under C$1 billion. Helly Hansen is
based in Norway and offers clothing geared towards sailing,
skiing and a slew of other outdoor activities. The deal is
expected to be finalized later this year.

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