RIM, financials push TSX to almost 18-month high

The TSX hit its highest level in nearly 18 months on Monday, led by a jump in Research In Motion Ltd (RIM-T 17.41 1.7 10.82%) shares following a report that it could license its software.

Canadian stocks also benefited from news on Friday that U.S. House Republican leaders said they would seek to pass a three-month extension of federal borrowing authority in the coming days to buy time for the Democrat-controlled Senate to pass a plan to shrink budget deficits.

RIM shares rose 10.8 percent to $17.41 after its chief executive told a German newspaper the company will explore strategic alliances with other technology companies once it has launched its new BlackBerry 10 models. RIM shares earlier jumped nearly 18 percent to touch their highest level since early December 2011.

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