Canaccord Financial Inc (CF.TO) rose more than 3 percent early on Wednesday, a day after the brokerage reported a second consecutive quarter of near record revenue and earnings. Canaccord shares were up 3.3 percent to C$14.09 a share in midmorning trade in Toronto, paring gains of more than 5 percent in opening trade. Canaccord, which bought Genuity Capital Markets a year ago, said after the market closed on Tuesday that fiscal fourth-quarter profit soared to C$40.9 million ($42.2 million), up from C$7.5 million in the same period a year earlier. Revenue in the quarter ended March 31 was C$247.6 million, up 73 percent from C$143.1 million, bolstered by record revenue from advisory fees of C$25.7 million.
Canaccord Financial Inc., formerly Canaccord Capital Inc. Shares of CF traded higher by 3.64% or $4.89/share to $139.14. In the past year, the shares have traded as low as $57.56 and as high as $153.83. On average, 2360200 shares of CF exchange hands on a given day and today's volume is recorded at 868767.
Source
