CANADA STOCKS HIGHER AT MIDSESSION
Toronto stocks prices rose higher into
record territory, bolstered by the resource sector, but slowed
the momentum of the four-session climb.
    The composite index rose 13.30 points to 3894.60 on volume
of 19.4 mln shares. Most stock groups joined in the rally with
advances outpacing declines 443 to 339.
    Gold miner Galactic Resources improved 7/8 to 10-1/8. It
announced yesterday plans to merge with Quartz Mountain Gold
and said Cornucopia Resources granted an option to enter into a
Nevada joint venture. In other golds, Hemlo Gold gained 7/8 to
27-1/4 and Lacana Mining rose 1-1/8 to 18-1/4.
    Oil shares provided support for the session's advance as
oils also turned higher on Wall Street. Imperial Oil class A
surged 7/8 to 73 dlrs, Shell Canada won 3/4 to 42-3/4 and
Texaco Canada improved 3/4 to 36-3/4.
    Dome Petroleum slipped one ct to 1.15 dlrs after gaining
eight cts yesterday. Analysts said the stock was attractive on
a technical basis, adding they were increasingly optimistic
that Dome will complete a debt reorganization.
    Forest products continued higher. Rising issues included
Canfor Corp 1-1/4 to 35-3/4, British Columbia Forest Products
1/2 to 21-1/4 and Consolidated-Bathurst 1/4 to 21-1/4.
    Non-precious metals also joined in the resource-based
rally. Alcan added 1/4 to reach 54-1/8, Falconbridge firmed 3/8
to 20-1/4 among actives and Inco firmed 1/8 to 21-7/8.
    Volume leaders were mixed. Top active Canadian Pacific
edged down 1/8 to 24-7/8 and Northern Telecom slipped 1/4 to
59-3/4, while International Thomson rose 1/4 to 16-1/2.
    Montreal's market portfolio index gained 7.67 points to
1942.70 with mining, utility and oil stock groups higher.
    In Vancouver, the index rose 8.6 points to 1882.6.
 Reuter
