HudBay Minerals Inc. reached an agreement to buy the rest of Augusta Resource Corp. for about C$436 million ($406 million) after sweetening a hostile offer for the developer of the Rosemont copper project in the U.S.
Maxcom Telecomunicaciones SAB’s dollar bonds are yielding twice as much as similar-rated global debt, a sign to Scotia Capital and Tradition Asiel Securities that the securities are a bargain as the Mexican phone company has enough cash to service debt for the next three years.
The Standard & Poor’s/TSX Composite Index will return about 15 percent next year as equities rebound in the second half of the year, said Vincent Delisle, chief strategist at Scotia Capital. Delisle forecast Canada’s main benchmark index will end 2012 at 13,250, compared with 11,497 today. Delisle spoke at the Bloomberg Canadian Investment Outlook 2012 webinar in Toronto today.