Miners Lead TSX Rally Despite China Concerns -- Canadian Commentary

(RTTNews) - Canadian stocks are off to a surprisingly strong start Monday morning considering that troubling Chinese economic raised concerns about the global economy.

Data released last Saturday showed that Chinese exports fell 8.3 percent year-over-year in July, reversing the 2.8 percent increase in June, while economists expected a 1.5 percent drop. Imports were down a slightly steeper than expected 8.1 percent.

The S&P/TSX composite index added 100 points to begin a new week at 14,403.

Mining stocks raced higher as bargain hunters stepped in. The Diversified Metals and Mining Index was up more than 2 percent

Only about 4% of Germany's K&S shareholders said they would accept a 41-euro-per-share offer from Potash Corp.

Potash (POT.TO) shares were higher this morning.

Telecom giant TELUS Corp. (TU, TU.TO) announced that Joe Natale is stepping down as President and CEO. Darren Entwistle will resume serving as President and CEO in Vancouver and Dick Auchinleck will serve as independent Chair. Telus reported a 5.1 percent rise in quarterly revenue Friday. Shares were down fractionally this morning.

Copper Mountain Mining Corp. (CUM.TO) reported that second-quarter net income attributable to shareholders of the company plunged to $2.87 million or C$0.01 per share from C$13.31 million or C$0.08 per share in the year-ago quarter. The stock jumped 8 percent.

Paladin Energy (PDN.TO) CEO John Borshoff is stepping down. Shares rose 3 percent.

Azarga Uranium (AZZ.TO) Chair and CEO Alexander Molyneux is taking a Temporary Leave Of Absence.

Endo International plc (ENDP, ENL.TO) reported adjusted earnings per share from continuing operations was $1.08, and total adjusted earnings per share was $1.20, for the quarter.