Investor Ideas' TSX Stocks to Watch; Thursday's Trading Leaders
News about Connacher Oil and Gas Limited (TSX: CLL)
December 9, 2011 - Investorideas.com, a leader in sector research for independent investors issues a trading alert for TSX trading leaders for December 08, 2011. The Standard & Poor's/TSX Composite Index slumped by 196.94 (-1.62%) to close the day at 11,951.79.
Connacher Oil and Gas Limited (TSX: CLL) was the most active stock as well as biggest percentage gainer on the TSX and surged 0.310 (50.82%) to close at C$0.920 after Connacher said that it has received a confidential, non-binding, unsolicited proposal to acquire all of the outstanding shares of the company.
BCE Inc. (TSX: BCE) added 0.42 (1.05%) to close at C$40.60 on over 12.14 million shares, compared to its average volume of 1.24 million shares. The company announced a 5% increase in its annual common share dividend from $2.07 to $2.17 per share for 2012. The company further added that it will start a $250 million share buyback plan, funded by its year-end cash surplus.
Grande Cache Coal Corporation (TSX: GCE) fell 0.13 (-1.32%) to finish at C$9.75, coming off session lows of $9.39, following news Alberta regulators have accused five top executives of the company in regards to illegal insider trading. Alleging they sold securities in 2008 before the company disclosed bad news about its sales.
Enbridge Inc. (TSX: ENB) added 0.45 (1.26%) to close at C$1.26 after it announced its quarterly dividend of 28.25 cents per share, an increase of about 15% over its prior dividend in November of 24 cents.
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