The jump was due in part to comments by CEO John Roth who said the fibre optic unit could bring in as much as $10 billion in sales during 2000.
The stock drove the market up to a second consecutive 52-week high with the TSE closing up 122.50 to 7,488.50
Air Canada stock was up 40 cents to $10.10 on news that the Transport minister David Collenette has edorsed its plan to takeover troubled Canadian.
Tech stocks rode Nortel s coat tails on the Nasdaq market, reaching another all-time high closing up 41.33 to 3197.29.
The tech market was driven by Microsoft s strength which was boosted by an announcement of a five-year, multi-million dollar deal with Tandy Corp., owners of the Radio Shack retail chain.
This was a turn around for the software giant, hit hard earlier in the week by a U.S. court ruling against the company.
The Dow was the weak sister again Thursday, lagging behind the TSE and Nasdaq for the second day in succession. The Dow was hurt by an unexplained drop in Coca-Cola share prices which baffled analysts.
The bond market was closed for the Veterans Day Holiday.
Analysts said the lag in the blue-chip market showed the market is concerned about interest rates.
Financials were also weak, with the fourth largest U.S. bank, Bank One, expressed concern for its credit card earnings and cut its estimates.
