In a reversal of fortunes, the bulls bounced back with a vengeance to gain back most of Wednesday’s losses during Thursday trading on the Canadian Markets. For the tale of the tape, the TSX Exchange added 1.44%, while the TSX Gold Index climbed 0.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on 0.66% with the decliners edging out the advancers by a 393 to 382 margin on 212 million shares traded.

Gold took it on the chin for a second consecutive day with the financials showing signs of strength during Wednesday’s session on the Canadian Markets. For the tale of the tape; the TSX Exchange added 0.93%, while the TSX Gold Index lost 0.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 0.16% with the advancers edging out the decliners by a 374 to 349 margin on 133 million shares traded.

It was gold’s turn to shine during Thursday trading on the Canadian markets with investors running for cover in a sea of weak economic data. For the tale of the tape, the TSX Exchange fell 1.61%, while the TSX Gold Index surged 6.2% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.22% with the advancing issuers beating out the decliners by a 396 to 318 margin on 120 million shares traded.

The selling continued early in the trading session with investors worried about the survivability of the financials but a massive mid-day reversal propelled equities higher during Thursday trading on the Canadian Markets. For the tale of the tape, the TSX Exchange added 2.20%, while the TSX Gold Index popped 5.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.62% with the declining issuers edging out the advancers by a 363 to 270 margin on a paltry 106 million shares traded.

The biggest proposed leveraged buyout in Canadian history has finally come to an end, with telecom giant BCE failing to met the solvency requirements. The collapsed deal, plus problems with a bailout of the auto sector in the United States, put a damper on the big board stocks during Thursday trading on the Canadian markets. For the tale of the tape, the TSX Exchange slumped 2.8%, while the TSX Gold Index gave back 3.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.12% with the advancing issuers beating out the decliners by a 424 to 416 margin on volume of 238 million shares traded.