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Scotiabank buying bank

Bank of Nova Scotia (TSX:BNS) is expanding in Peru with the planned purchase of Banco del Trabajo, the ninth largest commercial bank in the South American country. Financial terms weren't disclosed. Scotiabank has been in Peru since 1997, with Scotia Peru now that country's third-largest bank. Banco del Trabajo was established in 1993 and had total assets of US$430 million at the end of December 2007.

Stock gets 12.7% boost

Allen-Vanguard Corp. (TSX:VRS) stock jumped 12.7 per cent Tuesday after the company signed a two-year distribution agreement with Science Applications International Corp. (NYSE:SAI). Shares of the company, which provides technologies for reducing hazards from explosive, biological, chemical and radioactive devices, rose 33 cents to $2.93 on the Toronto Stock Exchange. In the deal, SAIC will distribute Allen-Vanguard's CBRNE defence systems and materials, which will let the company pass favourable pricing onto existing and new clients through contract agreements, Allen-Vanguard said in a release. The company couldn't immediately place a value on the agreements with SAIC, it said, but believed they would become available in various stages through the next 12 to 18 months.