Miners Skyrocket Another 10%, TSX Adds To Win Streak -- Canadian Commentary

(RTTNews) - Mining stocks continue their stunning rally Wednesday, pushing Toronto's main index higher for a fourth consecutive session.

Surging commodities prices have given metal, gold and energy stocks a huge lift this week.

The Diversified Metals and Mining Index surged another 10 percent today, while the Energy Index rose 2.9 percent despite crude oil prices dropping by lunch hour.

The S&P/TSX Composite Index jumped 221.09 points, or 1.62 percent, to 13,868.35.

Gauges of all major sectors were in the green, except consumer staples.

Brookfield Asset Management Inc. (BAM.A. TO) announced it intends to spin off approximately 35% of Brookfield Business Partners. BAM shares rose 1.3 percent.

Tethys Petroleum Limited (TPL.L, TPL.TO) Wednesday said that it has received a non-binding letter of intent from AGR Energy Holdings Limited in connection with a potential US$20 million equity fundraising. Tethys added 4.7 percent.

Later, Nostrum Oil & Gas PLC (NOG.L) reported that it has withdrawn the previously proposed offer to acquire Tethys.

A potential partnership between plane maker Bombardier (BBD.B.TO) and Airbus is dead, Airbus said Tuesday. Bombardier shares plunged 13 percent.