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Domtar and Abitibi make surprising stock jumps

Domtar and Abitibi-Consolidated made surprising gains on the Toronto Stock Exchange during the week of March 8. Acc…

Domtar and Abitibi-Consolidated made surprising gains on the Toronto Stock Exchange during the week of March 8. According to a report by Bloomberg, Domtar’s stock rose 49 cents, or 7.6% to $6.93, for the best performance in the S&P/TSX.

Abitibi-Consolidated’s stock moved up 14 cents, to $4.40, and was raised to ‘overweight’ from ‘neutral weight.’

According to Bloomberg, “an index of forestry and paper companies gained 4.8% during the week of March 8, as the Canadian dollar extended its decline against the U.S. dollar to five days, the longest slump in more than two months.’

Source: Bloomberg.com