Latest News:  
Beijing   Sunny    9 / -3   City Forecast

People's Daily Online>>World

Canadian stock market gains amid continuing hope for Greek debt deal


13:29, March 12, 2012

TORONTO, Feb. 8 (Xinhua) -- The Canadian stock market was higher on Wednesday as concerns over falling commodity prices were superseded by optimism over Greek foreign debt problems being solved. Traders hoped that Greece is close to arriving at a deal that will see it get a crucial second bailout to stave off bankruptcy.

The S&P/TSX Composite Index was up 8.6 points, or 0.07 percent, at 12,521.02 while the S&P/TSX Venture Composite Index gained 2.41 points, or 0.14 percent, at 1,665.74.

Investors continue to look for news out of Greece on Wednesday, where leaders are hammering out the details of an austerity package. The package is necessary for the country to receive a 130- billion euros bailout from the European Union, International Monetary Fund and European Central Bank.

Without these funds, Greece could miss a 14.5-billion-euro bond redemption in March.

On Wednesday, the leaders held talks with Greek Prime Minister Lucas Papademos to review a draft deal on steep cutbacks demanded by creditors. Papademos has distributed a final draft of the austerity program to members of his governing coalition.

Greece has already accepted a demand to fire up to 15,000 workers in the public sector in 2012, but it is still under pressure to impose deeper cuts, including reductions in pension payments and the minimum wage.

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. 17 Afghan civilians shot dead by a U.S. soldier

  2. 3rd COMIC & GAME UNION expo in Beijing

  3. Liu Xiang settles for silver at 2012 world indoors

  4. Japan holds memorial service to commemorate quake victims

Most Popular


  1. NPC reform reflects vote of confidence
  2. Facing problems forges confidence for development
  3. Defense budget guards peaceful intentions
  4. Will China's economy keep growing or slow down?
  5. Chinese products bring benefits to U.S. consumers
  6. Is international 'hot money' flowing into China?
  7. China's economy to roar ahead amid global woes
  8. U.S. solution to Syria issue doomed to failure
  9. Trust key to stability on Korean Peninsula
  10. Public will increasingly swaying diplomatic policies

What's happening in China

Public servant recruitment exam kicks off in Jiangsu Province

  1. Wenzhou mulls first hanging rail transit
  2. Rural Chinese pollution to be monitored soon
  3. Buddhist relic to be shown in Hong Kong
  4. Snowfall hammers animal husbandry in NW China
  5. Opinion divided to better school bus service

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai