Roger Biduk;
Stocks in Canada gained Wednesday, with the financial sector leading the market higher, as investors were cheered by a relatively small decline in Toronto-Dominion Bank's first-quarter net income.
In Toronto, the S&P/TSX Composite (ISPTX) closed up 73 points, or 0.9%, at 7,932.3 points. On Tuesday, the index rose 2.8%, tracking a rally on Wall Street.
Advancers led decliners 744 to 742.
The S&P/TSX Capped Financial Index jumped 3.08% today.
NB Split (NBF) soared 34.00% to $3.35. 5Banc Split (FBS.B) jumped 30.00%. Premium Income (PIC.A) higher by 29.44%. Dividend 15 Split (DF) gained 17.57% to $2.61.
Savanna Enegy Serv. (SVY) tanked 9.63% to $4.88. Gluskin Sheff & Ass. (GS) sank 6.76% to $8.00. Livingston Int’l. inc. (LIV.UN) down 6.70% to $3.90. Euitable Gr. (ETC) lower by 6.11% to $10.29.
Kicking off the Canadian bank earnings season, Toronto-Dominion Bank (TD) reported that its net income fell to C$712 million in the first quarter ended Jan. 31, down from C$970 million a year earlier. Adjusted net income fell to C$1.14 billion compared with C$1.06 billion a year earlier.
The bank reported earnings of 82 cents a share, compared with C$1.33 cents a share a year ago. It said that it expects "a worsening economic environment." Shares of the bank closed up 1.7%
Elsewhere in the sector, Royal Bank of Canada (RY) gained 5.3% and the Bank of Nova Scotia (BNS) added 4.2%. Bank of Montreal (BMO) slid 0.9%.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange
soared 6.36% to US$42.50 a barrel and the S&P/TSX Energy Index was 1.87% higher. Natural gas lost 3.93% to $4.03.
Phoenis Tech. Income Fund (PHX.UN) soared 14.65 to $5.79. Zargon Energy Tr. (ZAR.UN) jumped 11.11% to $15.40. Verenex Energy Tr. (VNX) rose 10.64% to $7.80. Trinidad Drilling (TDG) gained 7.59% to $2.55. Petrobank Energy & Res. (PBG) up 6.90% to $19.22.
NuVista Energy (NVA) sank 8.45% to $5.20. Eveready (EIS) down 6.94% to $3.35.
The S&P/TSX Capped Industrial Index dropped 1.34%.
West Fraser Timer (WFT) jumped 8.59% to $26.17.
The S&P/TSX Capped Information Technology Index rose 1.42% and the S&P/TSX Capped Telecom Services Index was down .44%.
Aastra Tech. (AAH) soared 46.70% to $13.76. Evertz Tech. (ET) jumped 13.78% to $11.15. Gennum (GND) gained 10.53% to $4.20. Torstar (TS.B) up 5.10% to $6.39.
In the mining sector, several producers' shares pared earlier gains or registered losses as gold prices slid.
The S&P/TSX Global Gold Index lost .21% as the April bullion contract in New York lost $3.30 to US$966.20 an ounce.
Jaguar Mining (JAG) lost 5.24% to $6.87.
Moto Goldmines (MGL) soared 29.17% to $3.10. US Gold Corp. (UXG) jumped 5.93% to $2.50. Gabriel Res. (GBU) rose 5.51% to $2.68.
Shares in Yamana Gold Inc. (YRI) ended 1.9% higher. Shares of Equinox Minerals Limited (EQN) fell 2.3%. Barrick Gold Corp. (ABX) closed 0.4% lower.
Roger Biduk;
Shares of Agrium Inc. (AGU), a producer of fertilizers and other agricultural products, tumbled 8.5% after it launched an unsolicited bid Wednesday for CF Industries Holdings (US:CF), which itself is making a hostile bid for another firm, Terra Industries (US:TRA).
Calgary-based Agrium said it's bidding $3.6 billion of cash and stock for CF Industries Holdings in a deal that would add CF's North American nitrogen, phosphate and crop nutrient distribution assets to Agrium's global wholesale and retail capabilities.
The S&P/TSX Capped Utilities Index gained .90%.
The S&P/TSX Consumer Discretionary Index was .54% lower and the S&P/TSX Consumer Staples Index was down .52%.
Richelieu Hardware (RCH) jumped 6.20% to $16.97.
Maple Leaf Foods (MFI) sank 7.21% to $8.75.
The S&P/TSX Capped Diversified Metals & Mining Index gained .47% as aluminum gained 1.65%, copper gained 2.47% and silver dropped .86% to $13.91.
Sherritt Int’l. (S) tanked 18.92% to $2.10. Osisko Mining (OSK) sank 5.38% to $4.40. Jaguar Mining (JAG) lower by 5.24% to $6.87.
Ivanhoe Mines (IVN) jumping 10.33% to $5.66. Timminco (TIM) higher by 9.86% to $3.12. Hanfeng Evergreen (HF) up 8.24% to $6.96. Altus Min. (ALS) rising 6.04% to $6.50.
Shares of Bombardier Inc. (BBD.B) fell 1.4%. The company said Wednesday that Bombardier Transportation has been awarded a contract in Australia by the Victorian government to build 32 rail cars valued at about $95 million.
Some energy companies reversed higher as oil prices rallied more than 6% to $42.50 a barrel.
Shares of Talisman Energy Inc. (TLM) ended 3.6% higher and shares of Suncor Energy Inc. (SU) gained 1.5%.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 1.34%.
QLT (QLT) jumped 7.32% to $2.20. Atrium Innovastions (ATB) higher by 6.50% to $14.75.
In the service sector, Hartco Inc. Fund (HCI.UN) tanked to 23.08% to $2.30. Guardian Capital GR. (GCG.A) sank 6.25% to $3.00. Ritchie Bros. Auctioneers (RBA) down 6.16% to $19.20. Weston Gr. (WN) down 5.26% to $59.85.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Thursday, February 26, 2009
Wednesday, February 25, 2009
Roger Biduk; Financials Take Bay Street Higher
Roger Biduk;
If you read my blog yesterday, it started like this:
“The markets have dropped so much that I believe it’s now time to be selective and jump in. I think the ETFs that follow the indexes and the financial sector are the places to look at.”
And I hit the nail on the head.
Many of my clients out there loaded up on these ETFs and they went through the roof today.
Depending on what President Obama has to say later tonight, we may see a follow-through day tomorrow.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers on Wall Street and Bay Street.
As you know from my writings, the ETF I’ve been buying and recommending for client accounts over the last several days is DIREXION SHARES ETF TRUST (FAS), which soared 27.44% today on huge volume of 174M! I’ve been watching this baby drop to a 52-week low the other day and it was definitely time to buy.
ProShares Ultra Financial (UYG) jumped 21.39% to $2.44. Proshares Ultra Real Estate (URE) rose 16.92% to $3.11. Financial Select Sector (XLF) higher by 12.12% to $8.05.
Canadian ETFs also had a great day.
Horizons BetaPro S&P/TSX Global Gold Bear+ (HGD-T) soared 17.39% to $9.25. Horizons BetaPro S&P/TSX Capped Fin Bull+ ETF (HFU-T) jumped 13.71% to $3.40. Horizons BetaPro S&P/TSX Cap Energy Bull+ ETF (HEU-T) jumped 10.92% to $3.25. Horizons BetaPro MSCI Emerg Markets Bull+ ETF (HJU-T) rose 10.90% to $14.04.
Toronto's main stock index closed sharply higher on Tuesday as oil and gas issues climbed with rising crude prices, while financials strengthened as fears over the fate of the troubled U.S. banking sector eased.
In see-saw action, the benchmark index swung nearly 300 points from trough to peak, with the upside supported by strength in energy issues as oil settled nearly 4 percent higher at $39.96 a barrel. The main pressure to the downside came from weaker gold prices.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange gained 3.95% to US$39.96 a barrel and the S&P/TSX Energy Index was 5.48% higher. Natural gas gained 2.34% to $4.19.
Nexen (NXY) jumped 10.77% to $16.46. Highpine Oil & Gas (HPX) higher by 10.20% to $4.43. Bonavsita (BNP.UN) up 9.65% to $13.75. Cnd. Nat.Res. (CNQ) rose 8.76% to $39.74.
Eveready (EIS) tanked 16.67% to 43.60. Trinidad Drilling (TDG) sank 7.78% to $2.37. Phoenix Tech. inc. Fund (PHX.UN) down 6.31% to $5.05. Angle Energy (NGL) lower by 5.71% to $3.30.
The S&P/TSX Global Gold Index tanked 8.94% as the April bullion contract in New York sank $25.50 to US$969.50 an ounce.
Moto Goldmines (MGL) tanked 18.64% to $2.40. US GoldCorp.(UXG) sank 16.90% to $2.36. Kirkland Lake Gold (KGI)lower by 15.81% to $5.75. Barrick Gold (ABX) down 12.15% to $39.25.
First Quantum Minerals (FM) soared 9.67% to$33.34.
The heavily weighted financial services sector led the TSX higher. The S&P/TSX Capped Financial Index, which lost over 14 per cent soared 7.22% today.
The sector followed U.S. stocks higher after Federal Reserve Chairman Ben Bernanke signaled that nationalization of major U.S. banks was not at hand.
The Toronto Stock Exchange S&P/TSX composite index closed up 211.66 points, or 2.77 percent, at 7,859.33, with nine of its 10 main groups advancing.
The index rose sharply at the open, rebounding from multi-year closing lows on both Canadian and U.S. markets on Monday. At one point on Tuesday, however, the index retreated to touch its lowest level since October 2003.
Roger Biduk;
The S&P/TSX Capped Utilities Index jumped 4.29%.
Atco (ACO.X) rose 6.07% to $35.28. Cdn. Utilities Ltd.(CU) gained 5.14% to $39.70.
Superior Plus (SPB) lost 5.05% to $10.15.
The S&P/TSX Consumer Discretionary Index was higher by 3.55% and the S&P/TSX Consumer Staples Index was up 1.51%.
Cascades (CAS) lost 6.73% to$2.50.
ZCL Composites (ZCL) jumped 7.95% to $4.75. Rogers Sugar income fund (RSI.UN) rose 6.67% to $3.20. Viterra (VT) higher by 6.16% to $10.17%. Glidan Activewear (GIL) up 5.73% to $8.86.
The S&P/TSX Capped Industrial Index rose 3.99%.
Sino-Forest Corp. (TRE) tanked 9.09% to $8.50. Heroux-Devtek (HRX) sank 6.62% to $4.09.
Bombardier (BBD.B) soared 11.70% to $2.96. Bird Construction Income Fund (BDT.UN) jumping 8.63% to $17.14. Martinrea Int’l. (MRE) gained 7.27% to$2.36. ATS Automation Tooling (ATA) gaining 5.12% to $3.49.
The S&P/TSX Capped Information Technology Index rose 1.78% and the S&P/TSX Capped Telecom Services Index was up 1.88%.
Research in Motion (RIM) soared 7.96% to $50.56. Computer Modelling Gr. (CMG) jumped 7.48% to $9.20.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 3.02%.
Medical Facilities (DR.UN) sinking 7.52% to $7.50. QLT (QLT) down 5.09% to $2.05.
Biovail (BVF) higher by 5.63% to $13.70.
In the service sector, Thomson Reuters (TRI) soared 11.47% to $31.49. Westjet (WJA) jumped 6.96% to $11.53. Santec (STN) higher by 6.97% to $24.57. Cdn. Pacific Railway (CP) gained 6.04% to $36.01. Transat A.T. (TRZ.B) gained 5.32% to $9.30.
Transcontinental (TCL.A) tanked 8.62% to $7.95. Reitmans (RET.A) sinking 8.26% to $9.55. Great Cdn. Gaming (GC) losing 8.12% to $3.17. Black Diamond Income Tr. (BDI.UN) down 7.14% to $6.50. Altus Group Inc. Fund (AIF.UN) losing 6.12% to $6.90.
The S&P/TSX Capped Diversified Metals & Mining Index gained 3.41% as aluminum gained 2.54%, copper gained 3.38% and silver dropped 3.15% to $14.00.
Sherritt Int’l. (S) jumping 7.92% to $2.59. Inmet Mining (IMN) gaining 5.49% to $27.50.
New Gold (NGD) tanking 16.84% to $2.47. PDX Resources (PLG) sinking 12.20% to $2.52. Silvercorp Metals (SVM) down 10.93% to $2.77. Aurora Energy Res. (AXU) down $10.59% to $2.11. Red Back Mining (RBI) lower by 9.95% to $7.24.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.comhttp://
bestcatanddognutrition.wordpress.com/
If you read my blog yesterday, it started like this:
“The markets have dropped so much that I believe it’s now time to be selective and jump in. I think the ETFs that follow the indexes and the financial sector are the places to look at.”
And I hit the nail on the head.
Many of my clients out there loaded up on these ETFs and they went through the roof today.
Depending on what President Obama has to say later tonight, we may see a follow-through day tomorrow.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers on Wall Street and Bay Street.
As you know from my writings, the ETF I’ve been buying and recommending for client accounts over the last several days is DIREXION SHARES ETF TRUST (FAS), which soared 27.44% today on huge volume of 174M! I’ve been watching this baby drop to a 52-week low the other day and it was definitely time to buy.
ProShares Ultra Financial (UYG) jumped 21.39% to $2.44. Proshares Ultra Real Estate (URE) rose 16.92% to $3.11. Financial Select Sector (XLF) higher by 12.12% to $8.05.
Canadian ETFs also had a great day.
Horizons BetaPro S&P/TSX Global Gold Bear+ (HGD-T) soared 17.39% to $9.25. Horizons BetaPro S&P/TSX Capped Fin Bull+ ETF (HFU-T) jumped 13.71% to $3.40. Horizons BetaPro S&P/TSX Cap Energy Bull+ ETF (HEU-T) jumped 10.92% to $3.25. Horizons BetaPro MSCI Emerg Markets Bull+ ETF (HJU-T) rose 10.90% to $14.04.
Toronto's main stock index closed sharply higher on Tuesday as oil and gas issues climbed with rising crude prices, while financials strengthened as fears over the fate of the troubled U.S. banking sector eased.
In see-saw action, the benchmark index swung nearly 300 points from trough to peak, with the upside supported by strength in energy issues as oil settled nearly 4 percent higher at $39.96 a barrel. The main pressure to the downside came from weaker gold prices.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange gained 3.95% to US$39.96 a barrel and the S&P/TSX Energy Index was 5.48% higher. Natural gas gained 2.34% to $4.19.
Nexen (NXY) jumped 10.77% to $16.46. Highpine Oil & Gas (HPX) higher by 10.20% to $4.43. Bonavsita (BNP.UN) up 9.65% to $13.75. Cnd. Nat.Res. (CNQ) rose 8.76% to $39.74.
Eveready (EIS) tanked 16.67% to 43.60. Trinidad Drilling (TDG) sank 7.78% to $2.37. Phoenix Tech. inc. Fund (PHX.UN) down 6.31% to $5.05. Angle Energy (NGL) lower by 5.71% to $3.30.
The S&P/TSX Global Gold Index tanked 8.94% as the April bullion contract in New York sank $25.50 to US$969.50 an ounce.
Moto Goldmines (MGL) tanked 18.64% to $2.40. US GoldCorp.(UXG) sank 16.90% to $2.36. Kirkland Lake Gold (KGI)lower by 15.81% to $5.75. Barrick Gold (ABX) down 12.15% to $39.25.
First Quantum Minerals (FM) soared 9.67% to$33.34.
The heavily weighted financial services sector led the TSX higher. The S&P/TSX Capped Financial Index, which lost over 14 per cent soared 7.22% today.
The sector followed U.S. stocks higher after Federal Reserve Chairman Ben Bernanke signaled that nationalization of major U.S. banks was not at hand.
The Toronto Stock Exchange S&P/TSX composite index closed up 211.66 points, or 2.77 percent, at 7,859.33, with nine of its 10 main groups advancing.
The index rose sharply at the open, rebounding from multi-year closing lows on both Canadian and U.S. markets on Monday. At one point on Tuesday, however, the index retreated to touch its lowest level since October 2003.
Roger Biduk;
The S&P/TSX Capped Utilities Index jumped 4.29%.
Atco (ACO.X) rose 6.07% to $35.28. Cdn. Utilities Ltd.(CU) gained 5.14% to $39.70.
Superior Plus (SPB) lost 5.05% to $10.15.
The S&P/TSX Consumer Discretionary Index was higher by 3.55% and the S&P/TSX Consumer Staples Index was up 1.51%.
Cascades (CAS) lost 6.73% to$2.50.
ZCL Composites (ZCL) jumped 7.95% to $4.75. Rogers Sugar income fund (RSI.UN) rose 6.67% to $3.20. Viterra (VT) higher by 6.16% to $10.17%. Glidan Activewear (GIL) up 5.73% to $8.86.
The S&P/TSX Capped Industrial Index rose 3.99%.
Sino-Forest Corp. (TRE) tanked 9.09% to $8.50. Heroux-Devtek (HRX) sank 6.62% to $4.09.
Bombardier (BBD.B) soared 11.70% to $2.96. Bird Construction Income Fund (BDT.UN) jumping 8.63% to $17.14. Martinrea Int’l. (MRE) gained 7.27% to$2.36. ATS Automation Tooling (ATA) gaining 5.12% to $3.49.
The S&P/TSX Capped Information Technology Index rose 1.78% and the S&P/TSX Capped Telecom Services Index was up 1.88%.
Research in Motion (RIM) soared 7.96% to $50.56. Computer Modelling Gr. (CMG) jumped 7.48% to $9.20.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 3.02%.
Medical Facilities (DR.UN) sinking 7.52% to $7.50. QLT (QLT) down 5.09% to $2.05.
Biovail (BVF) higher by 5.63% to $13.70.
In the service sector, Thomson Reuters (TRI) soared 11.47% to $31.49. Westjet (WJA) jumped 6.96% to $11.53. Santec (STN) higher by 6.97% to $24.57. Cdn. Pacific Railway (CP) gained 6.04% to $36.01. Transat A.T. (TRZ.B) gained 5.32% to $9.30.
Transcontinental (TCL.A) tanked 8.62% to $7.95. Reitmans (RET.A) sinking 8.26% to $9.55. Great Cdn. Gaming (GC) losing 8.12% to $3.17. Black Diamond Income Tr. (BDI.UN) down 7.14% to $6.50. Altus Group Inc. Fund (AIF.UN) losing 6.12% to $6.90.
The S&P/TSX Capped Diversified Metals & Mining Index gained 3.41% as aluminum gained 2.54%, copper gained 3.38% and silver dropped 3.15% to $14.00.
Sherritt Int’l. (S) jumping 7.92% to $2.59. Inmet Mining (IMN) gaining 5.49% to $27.50.
New Gold (NGD) tanking 16.84% to $2.47. PDX Resources (PLG) sinking 12.20% to $2.52. Silvercorp Metals (SVM) down 10.93% to $2.77. Aurora Energy Res. (AXU) down $10.59% to $2.11. Red Back Mining (RBI) lower by 9.95% to $7.24.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.comhttp://
bestcatanddognutrition.wordpress.com/
Monday, February 23, 2009
Roger Biduk; Bay Street Hits Five-Year lows
Roger Biduk;
The markets have dropped so much that I believe it’s now time to be selective and jump in. I think the ETFs that follow the indexes and the financial sector are the places to look at.
Remember, it’s a trading market, not one to buy and hold.
The Toronto stock market fell to levels not seen in more than five years on Monday as a fresh wave of pessimism trumped assurances from U.S. regulators on the financial system.
Toronto's S&P/TSX composite lost 302.32 points to 7,647.67, its lowest close since October 2003.
The TSX Venture Exchange lost 13.96 points to 878.94.
The CDN$ was down 0.12 cent at 79.92 cents US as retail sales fell 5.4 per cent in December to $33 billion - the largest monthly decline in over 15 years.
Statistics Canada said three-quarters of the December retail decline was rooted in the automotive sector, without which retail sales fell 1.8 per cent.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers on Bay Street. Horizons BetaPro S&P/TSX Cap Energy Bear+ ETF (HED-T) soaring another 11.14% to $25.54. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) jumping 7.32% to $56.60. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) rising 8.86% to $44.10.
The S&P/TSX Capped Utilities Index lost 2.66%.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was down 1.51% and the S&P/TSX Consumer Staples Index was down 1.62%.
The S&P/TSX Capped Financial Index, which lost over 14 per cent last week sank another 3.56% today.
Copernican Int’l. Fin. (CIR.PR.A) tanked 15.03% to $2.43.
Canada's big banks start to report their first-quarter earnings this week and I think expectations aren’t very high.
Royal Bank (TSX:RY), which reports on Thursday ahead of its annual meeting in Vancouver, lost $1.25 to $25.82, while insurer Manulife Financial (TSX:MFC) moved down 59 cents to $12.53.
The March crude contract on the New York Mercantile Exchange lost 3.97% to US$38.44 a barrel and the S&P/TSX Energy Index tanked 5.38%. Natural gas gained 1.54% to $4.10.
Canadian Natural Resources (TSX:CNQ) fell $1.72 to $36.54 and EnCana Corp. (TSX:ECA) gave back $3.49 to $44.78.
The S&P/TSX Global Gold Index dropped 2.78% as the April bullion contract in New York lost $7.20 to US$995.00 an ounce.
Barrick Gold Corp. (TSX:ABX) faded $1.40 to $44.68. Shares in Iamgold Corp. (TSX:IMG) added cents to $ after the company said proven and probable reserves at the end of 2008 were 9.6 million ounces, an increase of 20 per cent from a year earlier.
Roger Biduk;
The S&P/TSX Capped Industrial Index sank 4.54%. as Canadian National Railways (TSX:CNR) gave back $ .74 to $39.07 while Bombardier Inc. (TSX:BBD.B) lost 17 cents to $2.63.
Canadian investors also took in a major deal as Nova Chemicals Corp. (TSX:NCX) has agreed to be bought out for US$2.3 billion by Abu Dhabi-based International Petroleum Investment Co. Nova Chemicals shares, which had hit a new low earlier this month, gained C$4.83 to $6.49 in Monday trading.
Toronto-area steel distributor Russel Metals Inc. (TSX:RUS) is cutting 500 jobs and reducing executive and white collar salaries by 10 per cent to deal with a battered steel market. Its shares dropped $1.69 to $14.45.
The S&P/TSX Capped Information Technology Index dropped 2.49% and the S&P/TSX Capped Telecom Services Index was down 2.23%.
The S&P/TSX Capped Health Care Index was lower by 1.18%.
The S&P/TSX Capped Diversified Metals & Mining Index dropped 2.12% as aluminum dropped was flat, copper gained 1.26% and silver dropped .28% to $14.45.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
The markets have dropped so much that I believe it’s now time to be selective and jump in. I think the ETFs that follow the indexes and the financial sector are the places to look at.
Remember, it’s a trading market, not one to buy and hold.
The Toronto stock market fell to levels not seen in more than five years on Monday as a fresh wave of pessimism trumped assurances from U.S. regulators on the financial system.
Toronto's S&P/TSX composite lost 302.32 points to 7,647.67, its lowest close since October 2003.
The TSX Venture Exchange lost 13.96 points to 878.94.
The CDN$ was down 0.12 cent at 79.92 cents US as retail sales fell 5.4 per cent in December to $33 billion - the largest monthly decline in over 15 years.
Statistics Canada said three-quarters of the December retail decline was rooted in the automotive sector, without which retail sales fell 1.8 per cent.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers on Bay Street. Horizons BetaPro S&P/TSX Cap Energy Bear+ ETF (HED-T) soaring another 11.14% to $25.54. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) jumping 7.32% to $56.60. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) rising 8.86% to $44.10.
The S&P/TSX Capped Utilities Index lost 2.66%.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was down 1.51% and the S&P/TSX Consumer Staples Index was down 1.62%.
The S&P/TSX Capped Financial Index, which lost over 14 per cent last week sank another 3.56% today.
Copernican Int’l. Fin. (CIR.PR.A) tanked 15.03% to $2.43.
Canada's big banks start to report their first-quarter earnings this week and I think expectations aren’t very high.
Royal Bank (TSX:RY), which reports on Thursday ahead of its annual meeting in Vancouver, lost $1.25 to $25.82, while insurer Manulife Financial (TSX:MFC) moved down 59 cents to $12.53.
The March crude contract on the New York Mercantile Exchange lost 3.97% to US$38.44 a barrel and the S&P/TSX Energy Index tanked 5.38%. Natural gas gained 1.54% to $4.10.
Canadian Natural Resources (TSX:CNQ) fell $1.72 to $36.54 and EnCana Corp. (TSX:ECA) gave back $3.49 to $44.78.
The S&P/TSX Global Gold Index dropped 2.78% as the April bullion contract in New York lost $7.20 to US$995.00 an ounce.
Barrick Gold Corp. (TSX:ABX) faded $1.40 to $44.68. Shares in Iamgold Corp. (TSX:IMG) added cents to $ after the company said proven and probable reserves at the end of 2008 were 9.6 million ounces, an increase of 20 per cent from a year earlier.
Roger Biduk;
The S&P/TSX Capped Industrial Index sank 4.54%. as Canadian National Railways (TSX:CNR) gave back $ .74 to $39.07 while Bombardier Inc. (TSX:BBD.B) lost 17 cents to $2.63.
Canadian investors also took in a major deal as Nova Chemicals Corp. (TSX:NCX) has agreed to be bought out for US$2.3 billion by Abu Dhabi-based International Petroleum Investment Co. Nova Chemicals shares, which had hit a new low earlier this month, gained C$4.83 to $6.49 in Monday trading.
Toronto-area steel distributor Russel Metals Inc. (TSX:RUS) is cutting 500 jobs and reducing executive and white collar salaries by 10 per cent to deal with a battered steel market. Its shares dropped $1.69 to $14.45.
The S&P/TSX Capped Information Technology Index dropped 2.49% and the S&P/TSX Capped Telecom Services Index was down 2.23%.
The S&P/TSX Capped Health Care Index was lower by 1.18%.
The S&P/TSX Capped Diversified Metals & Mining Index dropped 2.12% as aluminum dropped was flat, copper gained 1.26% and silver dropped .28% to $14.45.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Sunday, February 22, 2009
Roger Biduk; Banks in Focus on Bay Street
Roger Biduk;
Anyone’s guess where the TSX is going this week.
Markets may be due for a bounce and some consider them oversold in the short term.
On the other hand, markets may be under pressure this week with weakness in the financial sector on deepening pessimism about the global economy and worries about the possible nationalization of banks in the United States.
Even though the U.S. government said Friday night they want the banks to stay in the private sector, investors have their doubts.
Canadian and U.S. indexes retreated sharply last week with the Dow Jones industrials breaking through its November lows to end the week down 6.17 per cent with the blue-chip index pushed to 6 1/2 year lows.
The slide came at the end of a week where there were actually positive developments aimed at pulling the United States out of a deepening recession.
U.S. President Barack Obama signed a US$787-billion stimulus bill Tuesday and the next day announced an ambitious $75-billion plan to keep as many as nine million Americans from losing their homes to foreclosure.
However, there was disappointment about the lack of details from the financial sector rescue package rolled out almost two weeks ago by U.S. Treasury Secretary Timothy Geithner.
Roger Biduk;
The possibility of nationalizing some of the hardest hit U.S. bank has come up as a way of dealing with the huge amounts of toxic assets being held by financial institutions.
The pressure on Canadian bank stocks comes just ahead of earnings from the big Canadian banks over the next two weeks. And while there is little worry that banks will cut their dividends, there is plenty of concern about their profits.
TD Bank (TSX: TD.TO) reports earnings on Wednesday, while Royal Bank (TSX: RY.TO), National Bank (TSX: NA.TO) and CIBC (TSX: CM.TO) all report on Thursday.
Bank of Montreal (TSX: BMO) and Scotiabank (TSX: BNS.TO) report Mar. 3.
http://www.rogerbiduk.ca/
http://www.rogerbiduk.wordpress.com/
http://www.rogerbiduk.blogspot.com/
http://bestcatanddognutrition.wordpress.com/
Anyone’s guess where the TSX is going this week.
Markets may be due for a bounce and some consider them oversold in the short term.
On the other hand, markets may be under pressure this week with weakness in the financial sector on deepening pessimism about the global economy and worries about the possible nationalization of banks in the United States.
Even though the U.S. government said Friday night they want the banks to stay in the private sector, investors have their doubts.
Canadian and U.S. indexes retreated sharply last week with the Dow Jones industrials breaking through its November lows to end the week down 6.17 per cent with the blue-chip index pushed to 6 1/2 year lows.
The slide came at the end of a week where there were actually positive developments aimed at pulling the United States out of a deepening recession.
U.S. President Barack Obama signed a US$787-billion stimulus bill Tuesday and the next day announced an ambitious $75-billion plan to keep as many as nine million Americans from losing their homes to foreclosure.
However, there was disappointment about the lack of details from the financial sector rescue package rolled out almost two weeks ago by U.S. Treasury Secretary Timothy Geithner.
Roger Biduk;
The possibility of nationalizing some of the hardest hit U.S. bank has come up as a way of dealing with the huge amounts of toxic assets being held by financial institutions.
The pressure on Canadian bank stocks comes just ahead of earnings from the big Canadian banks over the next two weeks. And while there is little worry that banks will cut their dividends, there is plenty of concern about their profits.
TD Bank (TSX: TD.TO) reports earnings on Wednesday, while Royal Bank (TSX: RY.TO), National Bank (TSX: NA.TO) and CIBC (TSX: CM.TO) all report on Thursday.
Bank of Montreal (TSX: BMO) and Scotiabank (TSX: BNS.TO) report Mar. 3.
http://www.rogerbiduk.ca/
http://www.rogerbiduk.wordpress.com/
http://www.rogerbiduk.blogspot.com/
http://bestcatanddognutrition.wordpress.com/
Saturday, February 21, 2009
Roger Biduk; Financials Tank 14% for the Week on Bay Street
Roger Biduk;
The TSX was bouncing around today like a yoyo.
The Toronto stock market fell more than 200 points Friday as bank stocks sold off amid nationalization worries in the United States and energy stocks retreated along with oil prices.
Toronto's S&P/TSX composite index trimmed early losses to close down 235.36 points at 7,949.99 as the main index inched towards its most recent low of 7,725 set in November. The index fell 8.4 per cent on the week led by a 14 per cent slide in financials.
The TSX Venture Exchange declined 9.2 points to 892.9.
The Canadian dollar gained 0.63 of a cent to 80.04 cents US.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers on Bay Street. Horizons BetaPro S&P/TSX Cap Energy Bear+ ETF (HED-T) soaring 9.64% to $22.98. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T)
jumping 9.32% to $52.78.
Meanwhile, economic data showed falling prices in Canada and the United States.
Statistics Canada reported the country's annual inflation rate edged lower to 1.1 per cent in January from 1.2 per cent the previous month, driven lower by falling gasoline prices.
Just days before Canadian banks start to issue their latest earnings figures, the S&P/TSX Capped Financial Index tanked 4.98% with Royal Bank (TSX:RY) down 86 cents to $27.07 and Manulife Financial (TSX:MFC) lost $1.38 to $13.12.
Fairborne Energy (FEL) tanked 21.37% to $2.87. Citadel Diversified Investment (CTD.UN) sank 14.17% to $5.09. Prime rate Plus (PPL) dropped 11.76% to $2.25. Manulife (MFC) dropped 9.52% to $13.12. Cnd. Life Cos. Split (LFE) lower by 9.13% to $2.09.
Kingsway Financial Services Inc. (TSX:KFS) said Friday its loss for the fourth quarter exceeded gloomy estimates released earlier this month, citing underwriting charges at one of its troubled U.S. subsidiaries and impairments to goodwill. Its shares fell 25 cents to $2.90.
Shares in Fairfax Financial Holdings Ltd. (TSX:FFH) were down $19.51 to $352 even as the insurance and investment company reported the biggest annual profit in its 23-year history thanks to "the best returns ever in a brutal investment environment."
Roger Biduk;
The March crude contract on the New York Mercantile Exchange lost 1.37% to US$38.94 a barrel and the S&P/TSX Energy Index tanked 5.33%. Natural gas dropped 1.82% to $4.04.
Crew Energy (CR) tanked 18.05% to $2.86. Cathedral Energy Services (CET.UN) sank 16.81% to $2.87. Galleon Energy (GO) dropped 14.97% to $2.50. Breaker Energy (WAV) lower by 14.72% to $2.26. Gran Tierra Energy (GTE) dropped 12.50% to $2.80. The energy sector lost 5.1 per cent as oil prices fell back from Thursday's 14 per cent surge. Suncor Inc. (TSX:SU) declined $1.80 to C$22.15 in Toronto and Canadian Natural Resources (TSX:CNQ) stepped back $2.10 to $38.26.
The S&P/TSX Capped Information Technology Index tanked 5.42% and the S&P/TSX Capped Telecom Services Index was down 1.22%.
Miranda Tech. (MT) tanked 10.39% to $5.95. 5N Plus (VN) sinking 9.18% to $5.75. Research in Motion (RIM) sank 8.19% to $48.75. Tundra Semiconductor (TUN) dropped 6.25% to $2.70. CryptoLogic (CRY) lower by 6.05% to $5.90.
The S&P/TSX Capped Health Care Index was lower by 3.45%.
Paladin Labs (PLB) tanked 8.54% to $11.25. QLT (QLT) sank 7.02% to $2.25.
The gold sector was the only one providing support, rising 3.1 per cent as nervous investors sent the price of gold over US$1,000 for the first time in almost a year. The S&P/TSX Global Gold Index jumped 3.48% as the April bullion contract in New York soared $25.70 to US$1002.20 an ounce.
U.S. Gold Cdn. Acquisition (UXE) soared 17.19% TO $3.00. Keegan Res. (KGN) jumped 11.40% to $2.54. Aquiline Res.(AQI) rose 9.09% to $3.00. NovaGold Res. (NG) gained 6.12% to $3.99%. Alamos Gold (AGI) higher by 5.87% to $8.30.
First Quantum Minerals (FM) sank 5.54% to $31.55. Goldcorp Inc. (TSX:G) advanced 88 cents to $40.02.
Barrick Gold Corp. (TSX:ABX) shares were up 18 cents to C$46.08 after the company took a US$773-million goodwill writedown while posting a fourth-quarter loss of $468 million. Full-year profit dropped to $790 million from $1.12 billion in 2007. 2009 gold production is projected between 7.2 million and 7.6 million ounces, lower than 2008 production of 7.66 million ounces.
Roger Biduk;
The S&P/TSX Capped Diversified Metals & Mining Index tanked 5.34% as aluminum dropped 3.27%, copper lost 3.70% and silver gained 3.98% to $14.49.
Keegan Res. (KGN) soared 11.40% to $2.54. Silver Wheaton (SLW) jumped 6.95% to $9.08. NovaGold Res. (NG) gained 6.12% to $3.99. Newmount Mining (NMC) rose 5.70% to $54.51. Jaguar Mining (JAG) higher by 5.30% to $7.75.
Silvercorp Metals (SVM) sank 10.57% to $3.13. Hanfeng Evergreen (HF) tanked 9.74% to $6.86. Gerdau AmeriSteel (GNA) losing 9.71% to $6.32.
Teck Cominco Ltd. (TSX:TCK.B) shares were down 25 cents to $3.80 after the miner agreed to sell its 50 per cent interest in the Williams and David Bell mines in northern Ontario for US$65 million to an affiliate of Barrick. The sale is part of Teck's plan to sell non-core assets to pay down debt.
Shares in Tim Hortons Inc. (TSX:THI) ran ahead $2.33 to $30.78 even as the coffee shop chain said quarterly profit dropped to $69.1 million from $75.7 million a year earlier. Earnings were reduced by asset impairment charges related to store closures and the company also said it will increase its quarterly dividend by 11 per cent to 10 cents per share.
The S&P/TSX Capped Utilities Index lost 2.01%. Cdn. Hydro Dev. (KHD) tanked 11.03% to $2.58. Northland Power (NPI.UN) sank 5.71% to $10.08.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was down .64% and the S&P/TSX Consumer Staples Index was down 1.28%.
Suoremwx Income Fund (SXP.UN) tanked 9.09% to $2.50. Linamar (LNR) sank 8.77% to $3.12.
Shares in Canwest Global Communications (TSX:CGS) plunged 7.5 cents or 17.65 per cent to 35 cents as the Globe and Mail reported that Leonard Asper is scrambling to secure a financial lifeline for the company before the end of the month to prevent his family-run media empire from sliding into bankruptcy protection. It earlier hit an all-time low of 31 cents.
The S&P/TSX Capped Industrial Index was 2.92%.
Canam Gr. inc. (CAM) tanking 20.88% to $4.85. Bombardier (BBD.B) sinking 7.89% to $2.80. Canfor (CFP) losing 7.86% to $5.51. Aecon Gr. (ARE) down 6.93% to $8.73. GLV Inc. (GLV.A) losing 6.35% to $5.80.
http://www.rogerbiduk.ca/
http://www.rogerbiduk.wordpress.com/
http://www.rogerbiduk.blogspot.com/
http://bestcatanddognutrition.wordpress.com/
The TSX was bouncing around today like a yoyo.
The Toronto stock market fell more than 200 points Friday as bank stocks sold off amid nationalization worries in the United States and energy stocks retreated along with oil prices.
Toronto's S&P/TSX composite index trimmed early losses to close down 235.36 points at 7,949.99 as the main index inched towards its most recent low of 7,725 set in November. The index fell 8.4 per cent on the week led by a 14 per cent slide in financials.
The TSX Venture Exchange declined 9.2 points to 892.9.
The Canadian dollar gained 0.63 of a cent to 80.04 cents US.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers on Bay Street. Horizons BetaPro S&P/TSX Cap Energy Bear+ ETF (HED-T) soaring 9.64% to $22.98. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T)
jumping 9.32% to $52.78.
Meanwhile, economic data showed falling prices in Canada and the United States.
Statistics Canada reported the country's annual inflation rate edged lower to 1.1 per cent in January from 1.2 per cent the previous month, driven lower by falling gasoline prices.
Just days before Canadian banks start to issue their latest earnings figures, the S&P/TSX Capped Financial Index tanked 4.98% with Royal Bank (TSX:RY) down 86 cents to $27.07 and Manulife Financial (TSX:MFC) lost $1.38 to $13.12.
Fairborne Energy (FEL) tanked 21.37% to $2.87. Citadel Diversified Investment (CTD.UN) sank 14.17% to $5.09. Prime rate Plus (PPL) dropped 11.76% to $2.25. Manulife (MFC) dropped 9.52% to $13.12. Cnd. Life Cos. Split (LFE) lower by 9.13% to $2.09.
Kingsway Financial Services Inc. (TSX:KFS) said Friday its loss for the fourth quarter exceeded gloomy estimates released earlier this month, citing underwriting charges at one of its troubled U.S. subsidiaries and impairments to goodwill. Its shares fell 25 cents to $2.90.
Shares in Fairfax Financial Holdings Ltd. (TSX:FFH) were down $19.51 to $352 even as the insurance and investment company reported the biggest annual profit in its 23-year history thanks to "the best returns ever in a brutal investment environment."
Roger Biduk;
The March crude contract on the New York Mercantile Exchange lost 1.37% to US$38.94 a barrel and the S&P/TSX Energy Index tanked 5.33%. Natural gas dropped 1.82% to $4.04.
Crew Energy (CR) tanked 18.05% to $2.86. Cathedral Energy Services (CET.UN) sank 16.81% to $2.87. Galleon Energy (GO) dropped 14.97% to $2.50. Breaker Energy (WAV) lower by 14.72% to $2.26. Gran Tierra Energy (GTE) dropped 12.50% to $2.80. The energy sector lost 5.1 per cent as oil prices fell back from Thursday's 14 per cent surge. Suncor Inc. (TSX:SU) declined $1.80 to C$22.15 in Toronto and Canadian Natural Resources (TSX:CNQ) stepped back $2.10 to $38.26.
The S&P/TSX Capped Information Technology Index tanked 5.42% and the S&P/TSX Capped Telecom Services Index was down 1.22%.
Miranda Tech. (MT) tanked 10.39% to $5.95. 5N Plus (VN) sinking 9.18% to $5.75. Research in Motion (RIM) sank 8.19% to $48.75. Tundra Semiconductor (TUN) dropped 6.25% to $2.70. CryptoLogic (CRY) lower by 6.05% to $5.90.
The S&P/TSX Capped Health Care Index was lower by 3.45%.
Paladin Labs (PLB) tanked 8.54% to $11.25. QLT (QLT) sank 7.02% to $2.25.
The gold sector was the only one providing support, rising 3.1 per cent as nervous investors sent the price of gold over US$1,000 for the first time in almost a year. The S&P/TSX Global Gold Index jumped 3.48% as the April bullion contract in New York soared $25.70 to US$1002.20 an ounce.
U.S. Gold Cdn. Acquisition (UXE) soared 17.19% TO $3.00. Keegan Res. (KGN) jumped 11.40% to $2.54. Aquiline Res.(AQI) rose 9.09% to $3.00. NovaGold Res. (NG) gained 6.12% to $3.99%. Alamos Gold (AGI) higher by 5.87% to $8.30.
First Quantum Minerals (FM) sank 5.54% to $31.55. Goldcorp Inc. (TSX:G) advanced 88 cents to $40.02.
Barrick Gold Corp. (TSX:ABX) shares were up 18 cents to C$46.08 after the company took a US$773-million goodwill writedown while posting a fourth-quarter loss of $468 million. Full-year profit dropped to $790 million from $1.12 billion in 2007. 2009 gold production is projected between 7.2 million and 7.6 million ounces, lower than 2008 production of 7.66 million ounces.
Roger Biduk;
The S&P/TSX Capped Diversified Metals & Mining Index tanked 5.34% as aluminum dropped 3.27%, copper lost 3.70% and silver gained 3.98% to $14.49.
Keegan Res. (KGN) soared 11.40% to $2.54. Silver Wheaton (SLW) jumped 6.95% to $9.08. NovaGold Res. (NG) gained 6.12% to $3.99. Newmount Mining (NMC) rose 5.70% to $54.51. Jaguar Mining (JAG) higher by 5.30% to $7.75.
Silvercorp Metals (SVM) sank 10.57% to $3.13. Hanfeng Evergreen (HF) tanked 9.74% to $6.86. Gerdau AmeriSteel (GNA) losing 9.71% to $6.32.
Teck Cominco Ltd. (TSX:TCK.B) shares were down 25 cents to $3.80 after the miner agreed to sell its 50 per cent interest in the Williams and David Bell mines in northern Ontario for US$65 million to an affiliate of Barrick. The sale is part of Teck's plan to sell non-core assets to pay down debt.
Shares in Tim Hortons Inc. (TSX:THI) ran ahead $2.33 to $30.78 even as the coffee shop chain said quarterly profit dropped to $69.1 million from $75.7 million a year earlier. Earnings were reduced by asset impairment charges related to store closures and the company also said it will increase its quarterly dividend by 11 per cent to 10 cents per share.
The S&P/TSX Capped Utilities Index lost 2.01%. Cdn. Hydro Dev. (KHD) tanked 11.03% to $2.58. Northland Power (NPI.UN) sank 5.71% to $10.08.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was down .64% and the S&P/TSX Consumer Staples Index was down 1.28%.
Suoremwx Income Fund (SXP.UN) tanked 9.09% to $2.50. Linamar (LNR) sank 8.77% to $3.12.
Shares in Canwest Global Communications (TSX:CGS) plunged 7.5 cents or 17.65 per cent to 35 cents as the Globe and Mail reported that Leonard Asper is scrambling to secure a financial lifeline for the company before the end of the month to prevent his family-run media empire from sliding into bankruptcy protection. It earlier hit an all-time low of 31 cents.
The S&P/TSX Capped Industrial Index was 2.92%.
Canam Gr. inc. (CAM) tanking 20.88% to $4.85. Bombardier (BBD.B) sinking 7.89% to $2.80. Canfor (CFP) losing 7.86% to $5.51. Aecon Gr. (ARE) down 6.93% to $8.73. GLV Inc. (GLV.A) losing 6.35% to $5.80.
http://www.rogerbiduk.ca/
http://www.rogerbiduk.wordpress.com/
http://www.rogerbiduk.blogspot.com/
http://bestcatanddognutrition.wordpress.com/
Wednesday, February 18, 2009
Roger Biduk; Bay Street Lower Again on Energy & Financials
Roger Biduk;
As was seen yesterday, another selloff in energy and financial stocks today pushed the Toronto stock market down a steep, triple-digit slide for a second day in a row.
Exchange Traded Funds (ETFs) were among the biggest percentage gainers on Bay Street for a second day.
Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) rose 6.37% after soaring 13.31% yesterday to $48.08.
Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) higher by 5.22% after soaring 17.69% yesterday to $47.13.
Toronto's S&P/TSX composite index tumbled 202.75 points to 8,175.95 after the financial sector led the way to a 299-point loss on Tuesday.
The TSX Venture Exchange moved down 3.34 points to 915.82 while the CDN$ rose 0.35 of a cent to 79.48 cents US.
The S&P/TSX Capped Financial Index tanked 3.61% after sinking 6.42% yesterday as investors worry about the global financial system. In recent days, investor fears have been focused on the ability of banks in Eastern Europe to repay or roll over US$400 billion this year. The banks have borrowed US$1.7 trillion, much on short-term maturities.
CIBC (TSX:CM) fell $1.91 to $41.69, Royal Bank (TSX:RY) lost $1.17 to $26.98 while insurer Manulife Financial (TSX:MFC) eased 59 cents to $15.08.
DDJ High Yield Fund (HYB.UN) soared 8.44% to $6.55. Faircourt Income & Growth Split (FIG.UN) jumped 5.48% to $7.89.
Noranda Income Fund (NIF.UN) sank 19.68% to $2.53. Financial 15 Split Corp. (FFN) tanked 14.74% to $2.66. Allbanc Split Corp. II (ALB) dropped 11.47% to $3.32. InnVest Real Estate Inv. (INN.UN) dropped 10.45% to $3.00.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange dropped .89% to US$34.62 a barrel and the S&P/TSX Energy Index dropped 3.55% after sinking 4.98% yesterday. Natural gas gained .50% to $4.24.
Worsening economic conditions persuaded traders that demand won't be rising anytime soon.
Addax Petroleum (AXC) jumped 6.17% to $25.47.
Major Drilling Group (MDI) tanked 9.54% to $14.31. Peyto Energy Trust (PEY.UN) sank 8.41% to $7.51. Crew Energy (CR) dropped 8.35% to $3.62. Trinidad Drilling (TDG) lower by 8.28% to $2.88. Phoenix Tech. Income Fund (PHX.UN) sinking 7.06% to $6.71. as EnCana Corp. (TSX:ECA) declined $1.90 to $49.40 and Petro-Canada (TSX:PCA) gave back $1.19 to $26.11.
Mining stocks also dragged with the base metals sector down as the S&P/TSX Capped Diversified Metals & Mining Index was down 3.10% after dropping 3.50% yesterday. Aluminum was flat, copper gained .83% and silver gained 2.00% to $14.29.
Altus Minerals (ALS) soared 13.93% to $6.38. PDX Res. (PLG) jumped 5.22% to $2.82.
Sherritt Int’l. (S) tanked 9.66% to $2.62. First Uranium Corp. (FIU) sank 7.14% to $4.55. First Majestic Silver (FR) lower by 6.98% to $2.80. progress Energy Res. (PRQ) dropped 6.97% to $9.21. Timminco (TIM) lower by 6.69% to $2.65.
Teck Cominco Ltd. (TSX:TCK.B) lost 29 cents to $4.15 after it said Tuesday it is looking at all options, including a sale of some of its coal business, to reduce a suffocating debt load largely acquired when it paid US$14 billion for Fording Canadian Coal Trust last fall.
The S&P/TSX Global Gold Index higher by .88% as the April bullion contract in New York jumped $10.70 to US$978.20 an ounce after rising $25.30 yesterday.
Barrick Gold Corp. (TSX:ABX) advanced $1.21 to $48.40. Int’l. Minerals (IMZ) soared 14.41% to $3.89. Keegan Res. (KGN) gained 9.87% to $2.45. Greystar Res. (GSL) rose 8.15% to $2.92. US Gold Cdn. Acq. (UXE) higher by 7.43% to$3.18. US Gold corp. (UXG) gaining 5.92% to $3.42.
Gabriel Res.(GBU) sank 6.14% to $2.60. Moto Goldmines (MGL) dropped 5.03% to $3.40.
Grocery chain operator Loblaw Companies Ltd. (TSX:L) posted fourth-quarter profit of $188 million, up from a year-earlier $40 million, as sales jumped 11 per cent, helped by one-time gains and an extra week in the accounting period. Sales rose to $7.75 billion from $6.97 billion and its shares moved 40 cents lower to $33.
Roger Biduk;
The S&P/TSX Capped Health Care Index tanked 4.50%.
QLT Inc. (QLT) soared 10.04% to $2.52.
Biovail (BVF) dropped 5.06% to $13.50. BioMS Medical (MS) lower by 5.37% to $2.29. Atrium innovations (ATB) sank 7.88% to $14.73.
The S&P/TSX Capped Utilities Index dropped 3.83%.
Maxim Power (MXG) tanked 9.82% to $2.57. Atco (ACO.X) sank 6.67% to $35.10. Cdn. Hydro Dev. (KHD) sank 5.61% to $3.03.
The S&P/TSX Consumer Discretionary Index was down 2.35% and the S&P/TSX Consumer Staples Index was down 1.80%.
Canfor Pulp Income Fund (CFX.UN) tanked 23.08% to $2.00. Linamar (LNR) sank 10.03% to $3.32. Rogers Sugar Income fund (RSI.UN) lower by 9.37% to $3.00. Maple Leaf Foods (MFI) down 6.25% to $9.15. Supremex Income Fund (SXP.UN) lower by 5.48% to $2.76.
The S&P/TSX Capped Industrial Index was down 2.88%. Martinrea Int’l. (MRE) soared 11.36% to $2.45.
Bombardier (BBD.B) tanked 12.69% to $2.82. TimberWest Forest (TWF.UN) sank 13.14% to $2.38. Sino-Forest (TRE) dropped 7.73% to $10.15. Canfor (CFP) lower by 7.07% to $6.05. ATS Automation Tooling Systems (ATA) sank 5.82% to $3.40.
The S&P/TSX Capped Information Technology Index dropped 2.46% and the S&P/TSX Capped Telecom Services Index was down 3.62%.
Research in Motion (RIM) dropped 6.58% to $52.82. The stock has been falling since last week after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance and a Credit Sussex analyst cut his rating on the Blackberry maker to under perform from neutral and slashed his earnings expectations for the February 2010 fiscal year.
Cryptologic (CRY) sank 7.12% to $6.00. EXFO Electro-Optical Engineering (EXF) tanked 9.57% to $4.25.
Rogers Communications Inc. (TSX:RCI.B) shares fell $2.65 or 7.7 per cent to $31.70 after it said a decrease in the value of its television division generated impairment charges that propelled the company to a fourth quarter loss of $138 million. The result marks a sharp drop from a profit of $254 million recorded in the same quarter a year earlier.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
As was seen yesterday, another selloff in energy and financial stocks today pushed the Toronto stock market down a steep, triple-digit slide for a second day in a row.
Exchange Traded Funds (ETFs) were among the biggest percentage gainers on Bay Street for a second day.
Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) rose 6.37% after soaring 13.31% yesterday to $48.08.
Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) higher by 5.22% after soaring 17.69% yesterday to $47.13.
Toronto's S&P/TSX composite index tumbled 202.75 points to 8,175.95 after the financial sector led the way to a 299-point loss on Tuesday.
The TSX Venture Exchange moved down 3.34 points to 915.82 while the CDN$ rose 0.35 of a cent to 79.48 cents US.
The S&P/TSX Capped Financial Index tanked 3.61% after sinking 6.42% yesterday as investors worry about the global financial system. In recent days, investor fears have been focused on the ability of banks in Eastern Europe to repay or roll over US$400 billion this year. The banks have borrowed US$1.7 trillion, much on short-term maturities.
CIBC (TSX:CM) fell $1.91 to $41.69, Royal Bank (TSX:RY) lost $1.17 to $26.98 while insurer Manulife Financial (TSX:MFC) eased 59 cents to $15.08.
DDJ High Yield Fund (HYB.UN) soared 8.44% to $6.55. Faircourt Income & Growth Split (FIG.UN) jumped 5.48% to $7.89.
Noranda Income Fund (NIF.UN) sank 19.68% to $2.53. Financial 15 Split Corp. (FFN) tanked 14.74% to $2.66. Allbanc Split Corp. II (ALB) dropped 11.47% to $3.32. InnVest Real Estate Inv. (INN.UN) dropped 10.45% to $3.00.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange dropped .89% to US$34.62 a barrel and the S&P/TSX Energy Index dropped 3.55% after sinking 4.98% yesterday. Natural gas gained .50% to $4.24.
Worsening economic conditions persuaded traders that demand won't be rising anytime soon.
Addax Petroleum (AXC) jumped 6.17% to $25.47.
Major Drilling Group (MDI) tanked 9.54% to $14.31. Peyto Energy Trust (PEY.UN) sank 8.41% to $7.51. Crew Energy (CR) dropped 8.35% to $3.62. Trinidad Drilling (TDG) lower by 8.28% to $2.88. Phoenix Tech. Income Fund (PHX.UN) sinking 7.06% to $6.71. as EnCana Corp. (TSX:ECA) declined $1.90 to $49.40 and Petro-Canada (TSX:PCA) gave back $1.19 to $26.11.
Mining stocks also dragged with the base metals sector down as the S&P/TSX Capped Diversified Metals & Mining Index was down 3.10% after dropping 3.50% yesterday. Aluminum was flat, copper gained .83% and silver gained 2.00% to $14.29.
Altus Minerals (ALS) soared 13.93% to $6.38. PDX Res. (PLG) jumped 5.22% to $2.82.
Sherritt Int’l. (S) tanked 9.66% to $2.62. First Uranium Corp. (FIU) sank 7.14% to $4.55. First Majestic Silver (FR) lower by 6.98% to $2.80. progress Energy Res. (PRQ) dropped 6.97% to $9.21. Timminco (TIM) lower by 6.69% to $2.65.
Teck Cominco Ltd. (TSX:TCK.B) lost 29 cents to $4.15 after it said Tuesday it is looking at all options, including a sale of some of its coal business, to reduce a suffocating debt load largely acquired when it paid US$14 billion for Fording Canadian Coal Trust last fall.
The S&P/TSX Global Gold Index higher by .88% as the April bullion contract in New York jumped $10.70 to US$978.20 an ounce after rising $25.30 yesterday.
Barrick Gold Corp. (TSX:ABX) advanced $1.21 to $48.40. Int’l. Minerals (IMZ) soared 14.41% to $3.89. Keegan Res. (KGN) gained 9.87% to $2.45. Greystar Res. (GSL) rose 8.15% to $2.92. US Gold Cdn. Acq. (UXE) higher by 7.43% to$3.18. US Gold corp. (UXG) gaining 5.92% to $3.42.
Gabriel Res.(GBU) sank 6.14% to $2.60. Moto Goldmines (MGL) dropped 5.03% to $3.40.
Grocery chain operator Loblaw Companies Ltd. (TSX:L) posted fourth-quarter profit of $188 million, up from a year-earlier $40 million, as sales jumped 11 per cent, helped by one-time gains and an extra week in the accounting period. Sales rose to $7.75 billion from $6.97 billion and its shares moved 40 cents lower to $33.
Roger Biduk;
The S&P/TSX Capped Health Care Index tanked 4.50%.
QLT Inc. (QLT) soared 10.04% to $2.52.
Biovail (BVF) dropped 5.06% to $13.50. BioMS Medical (MS) lower by 5.37% to $2.29. Atrium innovations (ATB) sank 7.88% to $14.73.
The S&P/TSX Capped Utilities Index dropped 3.83%.
Maxim Power (MXG) tanked 9.82% to $2.57. Atco (ACO.X) sank 6.67% to $35.10. Cdn. Hydro Dev. (KHD) sank 5.61% to $3.03.
The S&P/TSX Consumer Discretionary Index was down 2.35% and the S&P/TSX Consumer Staples Index was down 1.80%.
Canfor Pulp Income Fund (CFX.UN) tanked 23.08% to $2.00. Linamar (LNR) sank 10.03% to $3.32. Rogers Sugar Income fund (RSI.UN) lower by 9.37% to $3.00. Maple Leaf Foods (MFI) down 6.25% to $9.15. Supremex Income Fund (SXP.UN) lower by 5.48% to $2.76.
The S&P/TSX Capped Industrial Index was down 2.88%. Martinrea Int’l. (MRE) soared 11.36% to $2.45.
Bombardier (BBD.B) tanked 12.69% to $2.82. TimberWest Forest (TWF.UN) sank 13.14% to $2.38. Sino-Forest (TRE) dropped 7.73% to $10.15. Canfor (CFP) lower by 7.07% to $6.05. ATS Automation Tooling Systems (ATA) sank 5.82% to $3.40.
The S&P/TSX Capped Information Technology Index dropped 2.46% and the S&P/TSX Capped Telecom Services Index was down 3.62%.
Research in Motion (RIM) dropped 6.58% to $52.82. The stock has been falling since last week after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance and a Credit Sussex analyst cut his rating on the Blackberry maker to under perform from neutral and slashed his earnings expectations for the February 2010 fiscal year.
Cryptologic (CRY) sank 7.12% to $6.00. EXFO Electro-Optical Engineering (EXF) tanked 9.57% to $4.25.
Rogers Communications Inc. (TSX:RCI.B) shares fell $2.65 or 7.7 per cent to $31.70 after it said a decrease in the value of its television division generated impairment charges that propelled the company to a fourth quarter loss of $138 million. The result marks a sharp drop from a profit of $254 million recorded in the same quarter a year earlier.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Tuesday, February 17, 2009
Roger Biduk; Financials & Energy Smack Bay Street
Roger Biduk;
Told you.
I said months ago the markets would test their lows for the year.
The Exchange Traded Funds (ETFs) that profit from the declining markets and industry sectors were up huge today in very heavy volume on the Canadian & U.S. markets.
Exchange Traded Funds (ETFs) were the biggest percentage gainers on Bay Street.
Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) soared 17.69% to $44.85. Horizons BetaPro MSCI Emerg Markets Bear+ ETF (HJD-T) jumped 15.63% to $16.94. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) rose 13.31% to $45.20. Horizons BetaPro NYMEX Natural Gas Bear+ ETF (HND-T) gained 12.41% to $53.96. Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) higher by 8.40% to $15.35.
Stock markets retreated Tuesday on top of steep losses last week as pessimism about the global economy took a big bite out of bank stocks and investors worried about the survival of General Motors Corp.
Toronto's S&P/TSX composite index tanked 299.4 points to 8,378.7 after losing more than 3.5 per cent last week.
The TSX Venture Exchange dipped 6.48 points to 919.16.
The Canadian dollar was also pounded alongside other major currencies as investors piled into the American greenback, down 1.27 cents from Monday's close to 79.13 cents U.S. after going as low as 78.9 cents U.S.
Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 2.84%.
The Toronto financial sector was the major decliner as the S&P/TSX Capped Financial Index tanked 6.42% and extending last week's losses on unrelenting concerns about the stability of the global financial system.
Royal Bank (TSX:RY) moved down $1.65 to $28.15 while Manulife Financial (TSX:MFC) dropped $1.86 to $15.67.
The March crude contract on the New York Mercantile Exchange sank 6.88% to US$34.93 a barrel and the S&P/TSX Energy Index dropped 4.98%.
EnCana Corp. (TSX:ECA) declined $2.81 to C$51.30 in Toronto and Suncor Inc. (TSX:SU) gave back $1.71 to $22.82.
A key lender is demanding Canadian Superior Energy Inc. (TSX:SNG) completely repay a $45-million credit line by next Monday - the latest challenge to hit the troubled oil and gas company. Canadian Superior is in talks with the Canadian Western Bank (TSX:CWB) in hopes of extending the repayment deadline past Feb. 23. Canadian Superior shares plunged 20 cents or 29.9 per cent to 47 cents while Canadian Western Bank shares fell 22 cents to $11.01.
The S&P/TSX Capped Diversified Metals & Mining Index was down 3.50% as aluminum dropped 3.17%, copper sank 7.20% and silver gained 2.83%.
FNX Mining (TSX:FNX) stepped back 13 cents to $3.87 .
Shares of Teck Cominco Ltd. (TSX:TCK.B) fell 48 cents to $4.44 after the company reported that one-time charges and a sharp drop in commodity prices dragged the debt-strapped mining giant into a loss of $607 million or $1.28 a share for the fourth quarter. The results reversed year-earlier profits of $280 million or $1.12 a share.
Cameco Corp. (TSX:CCO), the world's largest uranium miner, says its well-established customer base and growing demand for nuclear energy will help it weather the economic downturn and ongoing problems at its flooded Cigar Lake mine in Saskatchewan. Its shares were down $1.03 to $18.17.
Roger Biduk;
The S&P/TSX Capped Utilities Index dropped 1.00%.
The latest flight to safety boosted gold prices as the S&P/TSX Global Gold Index soared 4.50% as the April bullion contract in New York jumped $25.30 to US$967.50 an ounce.
Goldcorp Inc. (TSX:G) ahead $1.33 to $40.45 and Barrick Gold (TSX:ABX) advanced 49 cents to $47.19.
The S&P/TSX Consumer Discretionary Index was down 2.34% and the S&P/TSX Consumer Staples Index was up .41%.
The S&P/TSX Capped Industrial Index was down 3.38%.
The S&P/TSX Capped Information Technology Index dropped 1.22% and the S&P/TSX Capped Telecom Services Index was down .21%. Research In Motion Ltd. (TSX:RIM) continued to be a weight on TSX, losing $3.51 to $56.54 after RIM said co-CEO's Bastille and Lizards and two former executives have settled allegations of stock option back dating with the U.S. Securities and Exchange Commission. Total monetary penalties of US$1.4 million are to be paid.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Told you.
I said months ago the markets would test their lows for the year.
The Exchange Traded Funds (ETFs) that profit from the declining markets and industry sectors were up huge today in very heavy volume on the Canadian & U.S. markets.
Exchange Traded Funds (ETFs) were the biggest percentage gainers on Bay Street.
Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) soared 17.69% to $44.85. Horizons BetaPro MSCI Emerg Markets Bear+ ETF (HJD-T) jumped 15.63% to $16.94. Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) rose 13.31% to $45.20. Horizons BetaPro NYMEX Natural Gas Bear+ ETF (HND-T) gained 12.41% to $53.96. Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) higher by 8.40% to $15.35.
Stock markets retreated Tuesday on top of steep losses last week as pessimism about the global economy took a big bite out of bank stocks and investors worried about the survival of General Motors Corp.
Toronto's S&P/TSX composite index tanked 299.4 points to 8,378.7 after losing more than 3.5 per cent last week.
The TSX Venture Exchange dipped 6.48 points to 919.16.
The Canadian dollar was also pounded alongside other major currencies as investors piled into the American greenback, down 1.27 cents from Monday's close to 79.13 cents U.S. after going as low as 78.9 cents U.S.
Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 2.84%.
The Toronto financial sector was the major decliner as the S&P/TSX Capped Financial Index tanked 6.42% and extending last week's losses on unrelenting concerns about the stability of the global financial system.
Royal Bank (TSX:RY) moved down $1.65 to $28.15 while Manulife Financial (TSX:MFC) dropped $1.86 to $15.67.
The March crude contract on the New York Mercantile Exchange sank 6.88% to US$34.93 a barrel and the S&P/TSX Energy Index dropped 4.98%.
EnCana Corp. (TSX:ECA) declined $2.81 to C$51.30 in Toronto and Suncor Inc. (TSX:SU) gave back $1.71 to $22.82.
A key lender is demanding Canadian Superior Energy Inc. (TSX:SNG) completely repay a $45-million credit line by next Monday - the latest challenge to hit the troubled oil and gas company. Canadian Superior is in talks with the Canadian Western Bank (TSX:CWB) in hopes of extending the repayment deadline past Feb. 23. Canadian Superior shares plunged 20 cents or 29.9 per cent to 47 cents while Canadian Western Bank shares fell 22 cents to $11.01.
The S&P/TSX Capped Diversified Metals & Mining Index was down 3.50% as aluminum dropped 3.17%, copper sank 7.20% and silver gained 2.83%.
FNX Mining (TSX:FNX) stepped back 13 cents to $3.87 .
Shares of Teck Cominco Ltd. (TSX:TCK.B) fell 48 cents to $4.44 after the company reported that one-time charges and a sharp drop in commodity prices dragged the debt-strapped mining giant into a loss of $607 million or $1.28 a share for the fourth quarter. The results reversed year-earlier profits of $280 million or $1.12 a share.
Cameco Corp. (TSX:CCO), the world's largest uranium miner, says its well-established customer base and growing demand for nuclear energy will help it weather the economic downturn and ongoing problems at its flooded Cigar Lake mine in Saskatchewan. Its shares were down $1.03 to $18.17.
Roger Biduk;
The S&P/TSX Capped Utilities Index dropped 1.00%.
The latest flight to safety boosted gold prices as the S&P/TSX Global Gold Index soared 4.50% as the April bullion contract in New York jumped $25.30 to US$967.50 an ounce.
Goldcorp Inc. (TSX:G) ahead $1.33 to $40.45 and Barrick Gold (TSX:ABX) advanced 49 cents to $47.19.
The S&P/TSX Consumer Discretionary Index was down 2.34% and the S&P/TSX Consumer Staples Index was up .41%.
The S&P/TSX Capped Industrial Index was down 3.38%.
The S&P/TSX Capped Information Technology Index dropped 1.22% and the S&P/TSX Capped Telecom Services Index was down .21%. Research In Motion Ltd. (TSX:RIM) continued to be a weight on TSX, losing $3.51 to $56.54 after RIM said co-CEO's Bastille and Lizards and two former executives have settled allegations of stock option back dating with the U.S. Securities and Exchange Commission. Total monetary penalties of US$1.4 million are to be paid.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Sunday, February 15, 2009
Roger Biduk; Sinking Day & Week on Wall Street
Roger Biduk;
Brutal week on Bay Street.
Another great week to short the markets with Exchange Traded Funds (ETFs).
Stock markets closed lower Friday with bank and insurance stocks under the gun ahead of a weekend meeting of G7 finance ministers and central bankers, who will address the ongoing global financial crisis.
Toronto's S&P/TSX composite index declined 100.68 points to 8,678.1 for a loss of 330 points or 3.66 per cent this week, led by sliding financial and commodity stocks. Gold companies advanced during the week.
The TSX Venture Exchange was up 9.77 points to 925.64.
The CDN$ was 0.7 cent higher to 81.03 cents US on Friday.
In other news, a Q400 Bombardier aircraft operated by Manassas, Va.-based Colgan Air crashed into a house just outside Buffalo, N.Y. Thursday night, killing all 49 people aboard and a person in the home. It was first fatal crash of a commercial airliner in the U.S. in 2 1/2 years. Bombardier Inc. (TSX:BBD.B) shares were down 24 cents to $3.29 Friday.
The S&P/TSX Capped Financial Index was down 2.37 per cent with Royal Bank (TSX:RY) 94 cents lower to $29.80 while Scotiabank (TSX:BNS) moved down 63 cents to $29.32.
Manulife Financial Corp. (TSX:MFC) shares were down 67 cents to $17.53 after losing $1.16 Thursday following a report by the company that it lost $1.87 billion in the fourth quarter. That was even worse than the $1.5-billion loss estimated in early December.
Sprott Inc. (SII) soared 11.03% to $4.63. Cymbria Corp. (CYB) gained 8.40% to $12.00 Savanna Energy Serv. (SVY) jumped 8.00% to $6.21. Uranium Part. Corp. (U) gained 7.53% to $7.00.Resverlogix Corp. (RVX) up by 6.42% to $3.38.
BAM Inv. (BNB) tanked 7.50% to $9.25. Connor, Clark & Lunn Global Fin. (GFT.UN) sank 6.47% to $4.05. US Financial 15 Split (FTU.PR.A) lost 6.04% to $3.11. Noranda Income Fund (NIF.UN) lower by 5.44% to $3.65. IGM Financial (IGM) down 5.41% to $31.80.
The March crude contract on the New York Mercantile Exchange soared 10.39% to US$37.51 a barrel and the S&P/TSX Energy Index was up .31%.
Pacific Rubiales Energy Corp. (PRE) soared 25.94% to $4.03. Angle energy (NGL) jumped 10.06% to $3.50. Trinidad Drilling (TDG) gained 9.12% to $2.99. Addax Petroleum Corp. (AXC) higher by 6.93% to $24.83.
EnCana Corp. (TSX:ECA) gained 70 cents to $54.11.
Roger Biduk;
The S&P/TSX Capped Diversified Metals & Mining Index was up 1.86% as aluminum dropped 2.70%, copper gained .26% and silver gained .85%.
Quadra Mining (QUA) jumped 6.59% to $3.88. Moto Goldmines Ltd. (MGL) gained 5.75% to $2.76.
New Gold (NGD) sank 6.87% to $2.71.
NovaGold Resources Inc. (TSX:NG) and Teck Cominco Ltd. (TSX:TCK.B) have a new agreement for funding their stalled Galore Creek copper-silver project in northwestern British Columbia. NovaGold shares were up 16 cents to $4.49 while Teck shares dipped eight cents to $4.92.
The S&P/TSX Global Gold Index dropped 2.96% as the April bullion contract in New York dropped $7.00 to US$942.20 an ounce.
US Gold corp. (UXG) soared 18.14% to $2.80. Premier Gold Mines (PG) jumped 16,29% to $2.57. US Gold Canadian Acquisition (UXE) gaining 13.04% to $2.60. First Quantum minerals (FM) up by 11.61% to $32.20. Imperial Metals (III) up by 6.58% to $2.59.
Keegan Res. (KGN) lost 6.61% to $2.12. Barrick Gold Corp. (TSX:ABX) faded $1.83 to $46.70.
The S&P/TSX Capped Information Technology Index dropped 2.74% and the S&P/TSX Capped Telecom Services Index was down .21%.
Ruggedcom (RCM) jumped 9.89% to $20.88. Computer Modeling Gr. (CMG) gained 9.26% to $8.85.
Vecima Networks (VCM) sank 11.27% to $5.75.
Research In Motion Ltd. (TSX:RIM) was also a weight on the TSX. Its shares fell $3 to $60.05, wiping out most of Thursday's gain. The stock took a 15 per cent hit on Wednesday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance. The fall came as Credit Suisse analyst Kulbinder Garcha cut his rating on the BlackBerry maker to under perform from neutral. He also slashed his earnings expectations for the February 2010 fiscal year and reduced his price target to US$37 from US$45.
Roger Biduk;
On the earnings front, Air Canada (TSX:AC.B) shares tumbled 48 cents or 25 per cent to $1.45 after the airline said Friday volatility in both fuel prices and foreign exchange rates drove 2008 financial results into the red for both the fourth-quarter and full year. Air Canada reported a fourth-quarter loss of $727 million, reversing year-earlier profits of $35 million.
Soaring fuel prices took a toll on Air Canada's full-year financial results as well, prompting the company to report a loss of $1.03 billion, reversing year-earlier profits of $429 million.
Telus Corp. (TSX:T) fourth-quarter profits were down 29 per cent to $285 million and its shares declined $1.04 to $34.
Oil and gas pipeline firm Enbridge Inc. (TSX:ENB) reported Friday a fourth-quarter profit of $263.4 million, up six per cent from the year-earlier quarter, with a boost from a stronger U.S. dollar. That was up from $248.6 million a year ago and its shares slipped 15 cents to $41.45.
Shares in CAE Inc. (TSX:CAE) rose 12 cents to $7.57 after the federal government said it is awarding the Montreal company a contract worth more than $300 million to build flight simulators for the Canadian Forces.
The S&P/TSX Consumer Discretionary Index was down .27% and the S&P/TSX Consumer Staples Index was up .41% as Glidan Activeware (GIL) sank 5.24% to $9.05.
The S&P/TSX Capped Health Care Index was higher by .13% as Cangene corp. (CNJ) gained 5.56% to $5.70.
The S&P/TSX Capped Utilities Index dropped .81%.
The S&P/TSX Capped Industrial Index was down 1.18% as ATS Automation (ATA) lost 5.74% to $3.94.
Vector Aerospace (RNO) jumped 8.53% to $4.07.
North American markets are closed Monday. The TSX is shuttered as Ontario observes Family Day while New York is closed for Presidents' Day.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Brutal week on Bay Street.
Another great week to short the markets with Exchange Traded Funds (ETFs).
Stock markets closed lower Friday with bank and insurance stocks under the gun ahead of a weekend meeting of G7 finance ministers and central bankers, who will address the ongoing global financial crisis.
Toronto's S&P/TSX composite index declined 100.68 points to 8,678.1 for a loss of 330 points or 3.66 per cent this week, led by sliding financial and commodity stocks. Gold companies advanced during the week.
The TSX Venture Exchange was up 9.77 points to 925.64.
The CDN$ was 0.7 cent higher to 81.03 cents US on Friday.
In other news, a Q400 Bombardier aircraft operated by Manassas, Va.-based Colgan Air crashed into a house just outside Buffalo, N.Y. Thursday night, killing all 49 people aboard and a person in the home. It was first fatal crash of a commercial airliner in the U.S. in 2 1/2 years. Bombardier Inc. (TSX:BBD.B) shares were down 24 cents to $3.29 Friday.
The S&P/TSX Capped Financial Index was down 2.37 per cent with Royal Bank (TSX:RY) 94 cents lower to $29.80 while Scotiabank (TSX:BNS) moved down 63 cents to $29.32.
Manulife Financial Corp. (TSX:MFC) shares were down 67 cents to $17.53 after losing $1.16 Thursday following a report by the company that it lost $1.87 billion in the fourth quarter. That was even worse than the $1.5-billion loss estimated in early December.
Sprott Inc. (SII) soared 11.03% to $4.63. Cymbria Corp. (CYB) gained 8.40% to $12.00 Savanna Energy Serv. (SVY) jumped 8.00% to $6.21. Uranium Part. Corp. (U) gained 7.53% to $7.00.Resverlogix Corp. (RVX) up by 6.42% to $3.38.
BAM Inv. (BNB) tanked 7.50% to $9.25. Connor, Clark & Lunn Global Fin. (GFT.UN) sank 6.47% to $4.05. US Financial 15 Split (FTU.PR.A) lost 6.04% to $3.11. Noranda Income Fund (NIF.UN) lower by 5.44% to $3.65. IGM Financial (IGM) down 5.41% to $31.80.
The March crude contract on the New York Mercantile Exchange soared 10.39% to US$37.51 a barrel and the S&P/TSX Energy Index was up .31%.
Pacific Rubiales Energy Corp. (PRE) soared 25.94% to $4.03. Angle energy (NGL) jumped 10.06% to $3.50. Trinidad Drilling (TDG) gained 9.12% to $2.99. Addax Petroleum Corp. (AXC) higher by 6.93% to $24.83.
EnCana Corp. (TSX:ECA) gained 70 cents to $54.11.
Roger Biduk;
The S&P/TSX Capped Diversified Metals & Mining Index was up 1.86% as aluminum dropped 2.70%, copper gained .26% and silver gained .85%.
Quadra Mining (QUA) jumped 6.59% to $3.88. Moto Goldmines Ltd. (MGL) gained 5.75% to $2.76.
New Gold (NGD) sank 6.87% to $2.71.
NovaGold Resources Inc. (TSX:NG) and Teck Cominco Ltd. (TSX:TCK.B) have a new agreement for funding their stalled Galore Creek copper-silver project in northwestern British Columbia. NovaGold shares were up 16 cents to $4.49 while Teck shares dipped eight cents to $4.92.
The S&P/TSX Global Gold Index dropped 2.96% as the April bullion contract in New York dropped $7.00 to US$942.20 an ounce.
US Gold corp. (UXG) soared 18.14% to $2.80. Premier Gold Mines (PG) jumped 16,29% to $2.57. US Gold Canadian Acquisition (UXE) gaining 13.04% to $2.60. First Quantum minerals (FM) up by 11.61% to $32.20. Imperial Metals (III) up by 6.58% to $2.59.
Keegan Res. (KGN) lost 6.61% to $2.12. Barrick Gold Corp. (TSX:ABX) faded $1.83 to $46.70.
The S&P/TSX Capped Information Technology Index dropped 2.74% and the S&P/TSX Capped Telecom Services Index was down .21%.
Ruggedcom (RCM) jumped 9.89% to $20.88. Computer Modeling Gr. (CMG) gained 9.26% to $8.85.
Vecima Networks (VCM) sank 11.27% to $5.75.
Research In Motion Ltd. (TSX:RIM) was also a weight on the TSX. Its shares fell $3 to $60.05, wiping out most of Thursday's gain. The stock took a 15 per cent hit on Wednesday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance. The fall came as Credit Suisse analyst Kulbinder Garcha cut his rating on the BlackBerry maker to under perform from neutral. He also slashed his earnings expectations for the February 2010 fiscal year and reduced his price target to US$37 from US$45.
Roger Biduk;
On the earnings front, Air Canada (TSX:AC.B) shares tumbled 48 cents or 25 per cent to $1.45 after the airline said Friday volatility in both fuel prices and foreign exchange rates drove 2008 financial results into the red for both the fourth-quarter and full year. Air Canada reported a fourth-quarter loss of $727 million, reversing year-earlier profits of $35 million.
Soaring fuel prices took a toll on Air Canada's full-year financial results as well, prompting the company to report a loss of $1.03 billion, reversing year-earlier profits of $429 million.
Telus Corp. (TSX:T) fourth-quarter profits were down 29 per cent to $285 million and its shares declined $1.04 to $34.
Oil and gas pipeline firm Enbridge Inc. (TSX:ENB) reported Friday a fourth-quarter profit of $263.4 million, up six per cent from the year-earlier quarter, with a boost from a stronger U.S. dollar. That was up from $248.6 million a year ago and its shares slipped 15 cents to $41.45.
Shares in CAE Inc. (TSX:CAE) rose 12 cents to $7.57 after the federal government said it is awarding the Montreal company a contract worth more than $300 million to build flight simulators for the Canadian Forces.
The S&P/TSX Consumer Discretionary Index was down .27% and the S&P/TSX Consumer Staples Index was up .41% as Glidan Activeware (GIL) sank 5.24% to $9.05.
The S&P/TSX Capped Health Care Index was higher by .13% as Cangene corp. (CNJ) gained 5.56% to $5.70.
The S&P/TSX Capped Utilities Index dropped .81%.
The S&P/TSX Capped Industrial Index was down 1.18% as ATS Automation (ATA) lost 5.74% to $3.94.
Vector Aerospace (RNO) jumped 8.53% to $4.07.
North American markets are closed Monday. The TSX is shuttered as Ontario observes Family Day while New York is closed for Presidents' Day.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Thursday, February 12, 2009
Roger Biduk; Bay Street Rallies at Day's End
Roger Biduk:
The Toronto stock market staged a late session turnaround to close higher as losses in financials and energy stocks moderated.
Toronto's S&P/TSX composite index came back from a 147-point slide to gain 40.89 points to 8,778.78 as the market found relief from telecom and base metals stocks. Investors were also pleased with reports from a couple of big retailers.
The TSX Venture Exchange gained 4.61 points to 915.87.
The Canadian dollar dipped 0.13 of a cent to 80.33 cents US.
The S&P/TSX Capped Financial Index was down .77%.
Yellow Pages Income Fund (YLO.UN) jumped 6.70% to $5.57. Resverlogix Corp. (RVX) higher by 7.57% to $3.27.
Financial 15 Split Corp. (FFN) tanked 19.20% to $2.02. Prime Rate Plus Corp. (PPL) sank 14.08% to $2.93. Kingsway Financial Services Inc. (KFS) lower by 13.71% to $3.40. Canada life Corporate Split (LFE) down by 9.20% to $2.96. Crombie Real Estate Inv. (CRR.UN) lower by 6.96% to $7.09.
Manulife Financial Corp. (TSX:MFC) shares fell $1.16 to $18.20 after the big life insurer reported it lost $1.87 billion in the fourth quarter - even worse than the $1.5-billion loss estimated in early December. The company said Thursday its full-year earnings dropped to $517 million, down 88 per cent from $4.3 billion in 2007 and its shares moved $1.16 lower to $18.20 as investors also worried if the company would maintain the current level of dividend payments.
Great-West Lifeco Inc. (TSX:GWO) shares were down 35 cents to $18.20 after the company posted a $907-million quarterly loss as it booked a $1.35-billion charge on its Putnam subsidiary in the U.S. Adjusted net income came in at $525 million, up six per cent from a year ago.
Shares in Sunlife Financial Inc. (TSX:SLF) shook off early losses and closed up 15 cents to $23.15 after it said quarterly earnings slid to $129 million, down from year-earlier profits of $555 million. Quarterly revenue came in at $4.7 billion, down from $5.4 billion reported during the same period in 2007. Full-year earnings shrank to $785 million from 2007 profits of $2.2 billion.
The March crude contract on the New York Mercantile Exchange sank 5.45% to US$33.98 a barrel, the lowest close of 2009.
The S&P/TSX Energy Index was down .24%.
There were concerns about how much the stimulus package will spur demand and sharply rising American oil inventories. So far, crude has fallen 20 per cent this week.
Shares in Nexen Inc. (TSX:NXY) were down 47 cents to $16.97 after the company recorded a quarterly loss of $181 million, reversing year-earlier profits of $194 million. Nexen said quarterly results were hurt by approximately $318 million in impairment charges related to its properties in the North Sea and the Gulf of Mexico.
EnCana Corp. (TSX:ECA) reported that fourth-quarter earnings slipped to US$1.07 billion from US$1.08 billion recorded a year ago. Earnings per share remained flat at US$1.43. Quarterly cash flow fell to US$1.3 billion from year-earlier levels of US$1.9 billion and its shares improved 29 cents to C$53.41.
Canadian Superior Energy Inc. (TSX:SNG) shares fell 47 cents or 43.35 per cent to 64 cents and hit a multi-year low of 51 cents after a subsidiary of BG Group PLC got a court to put the Canadian company's interest in an off-shore exploration block near Trinidad under the control of a receiver. Canadian Superior says it disputes an allegation that it owes US$47 million to pay for its share of the costs under an agreement with BG.
Roger Biduk:
The S&P/TSX Capped Information Technology Index gained 1.49% and the S&P/TSX Capped Telecom Services Index was up 2.64%.
Bridgewater Systems Corp. (BWC) jumped 8.00% to $3.78. RuggedCom Inc. (RCM) rose 6.20% to $19.00.
Research in Motion (RIM) gained 5.08% to $63.05. The BlackBerry maker's stock plunged 15 per cent yesterday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance.
Vecima Networks Inc. (VCM) sank 5.40% to $6.48.
Rogers Communications (TSX:RCI.B) ahead $1.15 to $35 and Telus Corp. (TSX:T) advanced $1.54 to $35.04 .
The S&P/TSX Capped Diversified Metals & Mining Index jumped 2.08 after soaring 4.63% yesterday as aluminum dropped 2.70%, copper dipped .36% and silver was flat.
Ivanhoe Mines (IVN) jumping 9.07% to $5.05 after surging 19 per cent on Wednesday. First Majestic Silver Corp.(FR) sank 5.70% to $2.81. New Gold (NGD) down 5.52% to $2.91.
The S&P/TSX Consumer Discretionary Index was up .49% and the S&P/TSX Consumer Staples Index was up .86%.
Gildan Activewear Inc. (GIL) tanked 23.90% to $9.55 after it reported it earned US$4.3 million in its most recent quarter as sales sagged 26.5 per cent from a year earlier to US$184 million.
Canadian Tire (TSX:CTC.A) said its profit in the fourth quarter fell nearly 23 per cent to C$101.2 million compared with the a year before. Gross operating revenue rose to $2.59 billion from $2.5 billion and its shares gained $2.15 to $40.85.
Drug store operator Shoppers Drug Mart (TSX:SC) is reporting a fourth-quarter profit of $173 million, up 14.4 per cent from a year-earlier. Revenue showed a strong increase, up 15.1 per cent to $2.5 billion, a trend it expects to continue through 2009. Its shares advanced $1.45 to $43.
Roger Biduk:
The S&P/TSX Capped Health Care Index was lower by .06%.
The S&P/TSX Capped Utilities Index gained 1.18%.
The S&P/TSX Capped Industrial Index was up .41%.
BFI Canada ltd. (BFC) lower by 6.73% to $9.57. ATS Automation Tooling Systems (ATA) sank 7.32% to $4.18.
The S&P/TSX Global Gold Index gained .48% as the April bullion contract in New York moved up $4.70 to US$949.20 an ounce.
Kirkland Lake Gold (KGI) soaring 7.10% to $6.64. US Gold Corp. (UXG) down 5.20% to $2.37.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
The Toronto stock market staged a late session turnaround to close higher as losses in financials and energy stocks moderated.
Toronto's S&P/TSX composite index came back from a 147-point slide to gain 40.89 points to 8,778.78 as the market found relief from telecom and base metals stocks. Investors were also pleased with reports from a couple of big retailers.
The TSX Venture Exchange gained 4.61 points to 915.87.
The Canadian dollar dipped 0.13 of a cent to 80.33 cents US.
The S&P/TSX Capped Financial Index was down .77%.
Yellow Pages Income Fund (YLO.UN) jumped 6.70% to $5.57. Resverlogix Corp. (RVX) higher by 7.57% to $3.27.
Financial 15 Split Corp. (FFN) tanked 19.20% to $2.02. Prime Rate Plus Corp. (PPL) sank 14.08% to $2.93. Kingsway Financial Services Inc. (KFS) lower by 13.71% to $3.40. Canada life Corporate Split (LFE) down by 9.20% to $2.96. Crombie Real Estate Inv. (CRR.UN) lower by 6.96% to $7.09.
Manulife Financial Corp. (TSX:MFC) shares fell $1.16 to $18.20 after the big life insurer reported it lost $1.87 billion in the fourth quarter - even worse than the $1.5-billion loss estimated in early December. The company said Thursday its full-year earnings dropped to $517 million, down 88 per cent from $4.3 billion in 2007 and its shares moved $1.16 lower to $18.20 as investors also worried if the company would maintain the current level of dividend payments.
Great-West Lifeco Inc. (TSX:GWO) shares were down 35 cents to $18.20 after the company posted a $907-million quarterly loss as it booked a $1.35-billion charge on its Putnam subsidiary in the U.S. Adjusted net income came in at $525 million, up six per cent from a year ago.
Shares in Sunlife Financial Inc. (TSX:SLF) shook off early losses and closed up 15 cents to $23.15 after it said quarterly earnings slid to $129 million, down from year-earlier profits of $555 million. Quarterly revenue came in at $4.7 billion, down from $5.4 billion reported during the same period in 2007. Full-year earnings shrank to $785 million from 2007 profits of $2.2 billion.
The March crude contract on the New York Mercantile Exchange sank 5.45% to US$33.98 a barrel, the lowest close of 2009.
The S&P/TSX Energy Index was down .24%.
There were concerns about how much the stimulus package will spur demand and sharply rising American oil inventories. So far, crude has fallen 20 per cent this week.
Shares in Nexen Inc. (TSX:NXY) were down 47 cents to $16.97 after the company recorded a quarterly loss of $181 million, reversing year-earlier profits of $194 million. Nexen said quarterly results were hurt by approximately $318 million in impairment charges related to its properties in the North Sea and the Gulf of Mexico.
EnCana Corp. (TSX:ECA) reported that fourth-quarter earnings slipped to US$1.07 billion from US$1.08 billion recorded a year ago. Earnings per share remained flat at US$1.43. Quarterly cash flow fell to US$1.3 billion from year-earlier levels of US$1.9 billion and its shares improved 29 cents to C$53.41.
Canadian Superior Energy Inc. (TSX:SNG) shares fell 47 cents or 43.35 per cent to 64 cents and hit a multi-year low of 51 cents after a subsidiary of BG Group PLC got a court to put the Canadian company's interest in an off-shore exploration block near Trinidad under the control of a receiver. Canadian Superior says it disputes an allegation that it owes US$47 million to pay for its share of the costs under an agreement with BG.
Roger Biduk:
The S&P/TSX Capped Information Technology Index gained 1.49% and the S&P/TSX Capped Telecom Services Index was up 2.64%.
Bridgewater Systems Corp. (BWC) jumped 8.00% to $3.78. RuggedCom Inc. (RCM) rose 6.20% to $19.00.
Research in Motion (RIM) gained 5.08% to $63.05. The BlackBerry maker's stock plunged 15 per cent yesterday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance.
Vecima Networks Inc. (VCM) sank 5.40% to $6.48.
Rogers Communications (TSX:RCI.B) ahead $1.15 to $35 and Telus Corp. (TSX:T) advanced $1.54 to $35.04 .
The S&P/TSX Capped Diversified Metals & Mining Index jumped 2.08 after soaring 4.63% yesterday as aluminum dropped 2.70%, copper dipped .36% and silver was flat.
Ivanhoe Mines (IVN) jumping 9.07% to $5.05 after surging 19 per cent on Wednesday. First Majestic Silver Corp.(FR) sank 5.70% to $2.81. New Gold (NGD) down 5.52% to $2.91.
The S&P/TSX Consumer Discretionary Index was up .49% and the S&P/TSX Consumer Staples Index was up .86%.
Gildan Activewear Inc. (GIL) tanked 23.90% to $9.55 after it reported it earned US$4.3 million in its most recent quarter as sales sagged 26.5 per cent from a year earlier to US$184 million.
Canadian Tire (TSX:CTC.A) said its profit in the fourth quarter fell nearly 23 per cent to C$101.2 million compared with the a year before. Gross operating revenue rose to $2.59 billion from $2.5 billion and its shares gained $2.15 to $40.85.
Drug store operator Shoppers Drug Mart (TSX:SC) is reporting a fourth-quarter profit of $173 million, up 14.4 per cent from a year-earlier. Revenue showed a strong increase, up 15.1 per cent to $2.5 billion, a trend it expects to continue through 2009. Its shares advanced $1.45 to $43.
Roger Biduk:
The S&P/TSX Capped Health Care Index was lower by .06%.
The S&P/TSX Capped Utilities Index gained 1.18%.
The S&P/TSX Capped Industrial Index was up .41%.
BFI Canada ltd. (BFC) lower by 6.73% to $9.57. ATS Automation Tooling Systems (ATA) sank 7.32% to $4.18.
The S&P/TSX Global Gold Index gained .48% as the April bullion contract in New York moved up $4.70 to US$949.20 an ounce.
Kirkland Lake Gold (KGI) soaring 7.10% to $6.64. US Gold Corp. (UXG) down 5.20% to $2.37.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Wednesday, February 11, 2009
Roger Biduk; Bay Street lower on RIM & Energy.
Roger Biduk;
An attempt to recover from big losses on the Toronto stock market was partly foiled Wednesday by a sharp pullback in Research In Motion Ltd. (TSX:RIM) shares after the BlackBerry maker issued a profit warning.
Toronto's S&P/TSX composite index declined 80 points to 8,737.89 after tumbling 229 points in the previous session on disappointment over the U.S. government's plans for reshaping its financial rescue fund.
The TSX Venture Exchange edged up 9.17 points to 911.26.
The Canadian dollar closed up 0.22 cent to 80.46 cents US, after losing almost two cents Tuesday.
Leading ETFs (Exchange Traded Funds) higher were Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) soaring 13.82% to $14.82. PowerShares DB Crude Oil Double Short ETN (DOE-T) jumping 11.61% to $254.25. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) up 9.18% to $35.10.
Statistics Canada reported Canada recorded a trade deficit of $458 million in December - the first such deficit since March 1976 as exports dropped 9.7 per cent while imports fell 5.7 per cent.
Energy stocks were also a major source of weakness in Toronto and New York as a report showed U.S. crude inventories rose for a seventh straight week, up 4.7 million barrels to an 18-month high. The data sent the March crude contract on the New York Mercantile Exchange down 4.29% to US$35.94 a barrel and the S&P/TSX Energy Index was down 1.71%.
EnCana Corp. (TSX:ECA) fell $2.19 to $53.12 and Canadian Natural Resources (TSX:CNQ) dropped $1.74 to $43.14. Pacific Rubiales Energy (PRE) soared 11.47% to $3.11. Orleans Energy (OEX) jumped 7.50% to $2.15. Heritage Oil (HOC) gained 5.48% to $3.85.
Nexen (NXY) dropped 5.47% to $17.44. Eveready (EIS) tanked 10.26% to $5.25.
Roger Biduk:
The S&P/TSX Capped Financial Index was down 1.39 per cent on top of Tuesday's four per cent loss with Scotiabank (TSX:BNS) down 66 cents to $29.52 and Royal Bank (TSX:RY) gave back 35 cents to $30.35.
Crown hill fund (MYT.UN) soared 13.69% to $4.90. Dynasty Metals & Mining (DMM) jumped 10.92% to $4.47. Resverlogix Corp. (RVX) rose 9.75% to $3.04. Franco Nevada Corp. (FNV) up 6.04% to $6.04.
Amalgamated Income ltd. Part. (AL.UN) tanked 12.00% to $2.42. Global banks Premium Income Tr. (GBP.UN) sank 11.38% to $2.18. Copernican World Banks Split (CBW.PR.A) dropped 8.75% to $2.92. Noranda Income Fund (NIF.UN) dropped 8.02% to $3.90. Kingsway Financial Services (KFS) sank 7.94% to $3.94.
The S&P/TSX Global Gold Index soared 7.68% as the April bullion contract in New York moved up $30.30 to US$944.50 an ounce.
Goldcorp Inc. (TSX:G) advanced $2.22 to $39.05 while Barrick Gold Corp. (TSX:ABX) climbed $1.73 to $47.92. Vista Gold (VGZ) soared 16.18% to $3.16. Kinross Gold (K.WT.C) jumped 15.60% to $15.60. Great Basin Gold (GBG) rose 13.64% to $2.00. Greystar Res. (GSL) rose 13.21% to $3.00. Int’l. Minerals Corp. (IMZ) up 12.68% to $3.20.
The S&P/TSX Capped Divesified Metals & Mining Index soared 4.63% as aluminum dropped 2.64%, copper dipped 2.28% and silver gained 2.97%.
Ivanhoe Mines (TSX:IVN) ran ahead 74 cents or 19 per cent to $4.63 and Inmet Mining Corp. (TSX:IMN) gained $2.30 to $27.95. Silver Wheaton (SLW) soared 13.35% to $9.00. Keegan Resources (KNG) rose 10.00% to $2.20. Gabriel Res. (GBU) gained 9.09% to $2.76. Red Back Mining (RBI) gained 8.74% to $7.84.
But Grande Cache Coal Corp. (TSX:GCE) shares fell eight cents to 77 cents after announcing it is cutting 100 jobs and scaling back output by 25 per cent to deal with slumping steel demand that has led its customers to defer coal purchases into 2010.
Roger Biduk:
The S&P/TSX Capped Information Technology Index tanked 5.44% and the S&P/TSX Capped Telecom Services Index was down .21%.
AXIA NetMedia Corp. (AXX) jumped 10.80% to $2.36.
Reasearch in Motion (RIM) tanked 15.35% to $60.00.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was down 1.81%.
The S&P/TSX Capped Health Care Index was higher by .99%.
The S&P/TSX Capped Utilities Index dropped 1.84%.
The S&P/TSX Capped Industrial Index was down 1.22%.
In other earnings news, BCE Inc. (TSX:BCE) posted a fourth-quarter loss of $48 million or six cents per share on investment losses and writedowns. The telecom company also boosted its dividend five per cent and its shares were ahead 36 cents to $25.49.
WestJet shares (TSX:WJA) dropped 80 cents to $12.95 as fourth-quarter profit fell to $40.8 million from $75.4 million.
Fourth-quarter profits at fertilizer producer Agrium Inc. (TSX:AGU) fell to $124 million from $172 million, but its annual profit of $1.3 billion more than tripled its previous record earnings in 2007. Agrium shares rose $1.20 to $47.21. CAE Inc. (TSX:CAE) rose nine cents to $7.39 after the Montreal-based global leader in flight simulators reported a 35 per cent climb in quarterly net profit to $53.3 million as revenue rose 23 per cent to $424.6 million.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
An attempt to recover from big losses on the Toronto stock market was partly foiled Wednesday by a sharp pullback in Research In Motion Ltd. (TSX:RIM) shares after the BlackBerry maker issued a profit warning.
Toronto's S&P/TSX composite index declined 80 points to 8,737.89 after tumbling 229 points in the previous session on disappointment over the U.S. government's plans for reshaping its financial rescue fund.
The TSX Venture Exchange edged up 9.17 points to 911.26.
The Canadian dollar closed up 0.22 cent to 80.46 cents US, after losing almost two cents Tuesday.
Leading ETFs (Exchange Traded Funds) higher were Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) soaring 13.82% to $14.82. PowerShares DB Crude Oil Double Short ETN (DOE-T) jumping 11.61% to $254.25. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) up 9.18% to $35.10.
Statistics Canada reported Canada recorded a trade deficit of $458 million in December - the first such deficit since March 1976 as exports dropped 9.7 per cent while imports fell 5.7 per cent.
Energy stocks were also a major source of weakness in Toronto and New York as a report showed U.S. crude inventories rose for a seventh straight week, up 4.7 million barrels to an 18-month high. The data sent the March crude contract on the New York Mercantile Exchange down 4.29% to US$35.94 a barrel and the S&P/TSX Energy Index was down 1.71%.
EnCana Corp. (TSX:ECA) fell $2.19 to $53.12 and Canadian Natural Resources (TSX:CNQ) dropped $1.74 to $43.14. Pacific Rubiales Energy (PRE) soared 11.47% to $3.11. Orleans Energy (OEX) jumped 7.50% to $2.15. Heritage Oil (HOC) gained 5.48% to $3.85.
Nexen (NXY) dropped 5.47% to $17.44. Eveready (EIS) tanked 10.26% to $5.25.
Roger Biduk:
The S&P/TSX Capped Financial Index was down 1.39 per cent on top of Tuesday's four per cent loss with Scotiabank (TSX:BNS) down 66 cents to $29.52 and Royal Bank (TSX:RY) gave back 35 cents to $30.35.
Crown hill fund (MYT.UN) soared 13.69% to $4.90. Dynasty Metals & Mining (DMM) jumped 10.92% to $4.47. Resverlogix Corp. (RVX) rose 9.75% to $3.04. Franco Nevada Corp. (FNV) up 6.04% to $6.04.
Amalgamated Income ltd. Part. (AL.UN) tanked 12.00% to $2.42. Global banks Premium Income Tr. (GBP.UN) sank 11.38% to $2.18. Copernican World Banks Split (CBW.PR.A) dropped 8.75% to $2.92. Noranda Income Fund (NIF.UN) dropped 8.02% to $3.90. Kingsway Financial Services (KFS) sank 7.94% to $3.94.
The S&P/TSX Global Gold Index soared 7.68% as the April bullion contract in New York moved up $30.30 to US$944.50 an ounce.
Goldcorp Inc. (TSX:G) advanced $2.22 to $39.05 while Barrick Gold Corp. (TSX:ABX) climbed $1.73 to $47.92. Vista Gold (VGZ) soared 16.18% to $3.16. Kinross Gold (K.WT.C) jumped 15.60% to $15.60. Great Basin Gold (GBG) rose 13.64% to $2.00. Greystar Res. (GSL) rose 13.21% to $3.00. Int’l. Minerals Corp. (IMZ) up 12.68% to $3.20.
The S&P/TSX Capped Divesified Metals & Mining Index soared 4.63% as aluminum dropped 2.64%, copper dipped 2.28% and silver gained 2.97%.
Ivanhoe Mines (TSX:IVN) ran ahead 74 cents or 19 per cent to $4.63 and Inmet Mining Corp. (TSX:IMN) gained $2.30 to $27.95. Silver Wheaton (SLW) soared 13.35% to $9.00. Keegan Resources (KNG) rose 10.00% to $2.20. Gabriel Res. (GBU) gained 9.09% to $2.76. Red Back Mining (RBI) gained 8.74% to $7.84.
But Grande Cache Coal Corp. (TSX:GCE) shares fell eight cents to 77 cents after announcing it is cutting 100 jobs and scaling back output by 25 per cent to deal with slumping steel demand that has led its customers to defer coal purchases into 2010.
Roger Biduk:
The S&P/TSX Capped Information Technology Index tanked 5.44% and the S&P/TSX Capped Telecom Services Index was down .21%.
AXIA NetMedia Corp. (AXX) jumped 10.80% to $2.36.
Reasearch in Motion (RIM) tanked 15.35% to $60.00.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was down 1.81%.
The S&P/TSX Capped Health Care Index was higher by .99%.
The S&P/TSX Capped Utilities Index dropped 1.84%.
The S&P/TSX Capped Industrial Index was down 1.22%.
In other earnings news, BCE Inc. (TSX:BCE) posted a fourth-quarter loss of $48 million or six cents per share on investment losses and writedowns. The telecom company also boosted its dividend five per cent and its shares were ahead 36 cents to $25.49.
WestJet shares (TSX:WJA) dropped 80 cents to $12.95 as fourth-quarter profit fell to $40.8 million from $75.4 million.
Fourth-quarter profits at fertilizer producer Agrium Inc. (TSX:AGU) fell to $124 million from $172 million, but its annual profit of $1.3 billion more than tripled its previous record earnings in 2007. Agrium shares rose $1.20 to $47.21. CAE Inc. (TSX:CAE) rose nine cents to $7.39 after the Montreal-based global leader in flight simulators reported a 35 per cent climb in quarterly net profit to $53.3 million as revenue rose 23 per cent to $424.6 million.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Tuesday, February 10, 2009
Roger Biduk; CDN$ & Bay Street Tank
Roger Biduk:
The Toronto stock market and the Canadian dollar both tanked Tuesday on disappointment with U.S. Treasury Secretary Timothy Geithner's plan to help the financial sector.
Toronto's S&P/TSX composite index snapped a five-session winning streak to close down 229.39 points or 2.5 per cent to 8,817.89 led by a four per cent drop in the financial sector.
The TSX Venture Exchange was 0.99 of a point higher to 902.09.
The Canadian dollar tanked 1.97 cents to 80.24 cents US - after going as low as 80.04 cents as disappointment with the Geithner announcement sparked a selloff of a string of currencies in favour of the U.S. dollar.
Investors were also focused on Bank of Canada governor Mark Carney, who reiterated to a parliamentary committee that he expects the economy to rebound in 2010, growing by 3.8 per cent.
Many economists regard this as overly optimistic, but Carney said "such a recovery is actually more muted than usual," after what will be a difficult 2009.
ETFs (Exchange Traded Funds) that short the market, that is, they go up when everything goes down (my favorite since last January) were the best gainers in Toronto.
Horizons BetaPro NYMEX Natural Gas Bear ETF (HND) soared 11.54% to $45.54. Horizons BetaPro MSCI Emerging Markets Bear ETF (HJD-T) jumped 11.01% to %15.32. Horizons BetaPro S&P 500 Bear Plus ETF (HSD-T) was up 10.07% to $33.88. Horizons BetaPro NYMEX Crude Oil Bear ETF (HOD-T). Horizons BetaPro NASDAQ-100 Bear Plus ETF (HQD-T) gained 8.28% to $34.40.
Roger Biduk
The S&P/TSX Capped Financial Index sank 3.97% as TD Bank (TSX:TD) was down $1.57 to $39.12 and Bank of Montreal (TSX:BMO) fell $1.42 to $30.36. Savanna Energy Services (SVY) sank 12.13% to $5.94. Dundee Corp. (DC.A) dropped 11.01% to $5.09. Noranda Income fund (NIF.UN) dropped 9.98% to $4.24.
The S&P/TSX Energy Index tanked 4.44% per cent as the March crude contract in New York lost $2.01 to US$37.55 a barrel. Petro-Canada (TSX:PCA) declined $1.55 to $28.26 and EnCana Corp. (TSX:ECA) gave back $2.55 to $55.31.
Tusk Energy Corp. (TSX:TSK) announced a deal to be taken over by a unit of Teachers Insurance and Annuity Association of America in a deal valued at $257 million. Its shares soared $1.22 or 142 per cent to $2.08.
Pacific Rubiales Energy (PRE) tanked 9.71% to $2.79. Trinidad Drilling (TDG) sank 9.49% to $2.67. Highpine Oil & Gas (HPX) dropped 7.77% to $4.63.
The S&P/TSX Global Gold Index was up .30% as the April bullion contract in New York rose $21.40 to US$914.20 an ounce.
Goldcorp Inc. (TSX:G) climbed 74 cents to $36.83. First Quantum Minerals (FM) sank 13.03% to $26.96. Centerra Gold (CG) dropped 11.31% to $4.47. Aquiline Res. (AQI) sank 10.91% to $2.45. European Goldfields (EGU) dropped 7.86% to $2.93.
The S&P/TSX Capped Divesified Metals & Mining Index tanked 8.70% as aluminum dropped 2.64%, copper dipped 2.29% and silver gained 2.34%8.7 per cent with Teck Cominco Ltd. (TSX:TCK.B) down 54 cents to $4.96 and Quadra Mining (QUA) tanked 13.25% to $3.47. Ivanhoe Mines (IVN) sank 11.19%.
Shares in Inmet Mining (TSX:IMN) were off 96 cents to $25.65 after a fourth-quarter loss of $32.5 million on asset writedowns and low metal prices.
A Japanese consortium is paying $270 million for a 19.95 per cent interest in Uranium One Inc. (TSX:UUU). The Toronto-headquartered miner is active in Kazakhstan, the United States and South Africa and its shares climbed eight cents to $2.09 .
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.43% and the S&P/TSX Capped Telecom Services Index was down .75%.
Data encryption specialist Certicom Corp. (TSX:CIC) says it has been told by VeriSign Inc. that the California company will not match a $3-a-share takeover offer from Research In Motion Ltd. (TSX:RIM). RIM's proposal topped a $2.10-per-share price previously agreed to between VeriSign and Certicom. Certicom shares declined 29 cents to $2.97 while RIM ticked 92 cents lower to $70.88.
The S&P/TSX Consumer Discretionary Index dropped 2.00% and the S&P/TSX Consumer Staples Index was down .98%.
The S&P/TSX Capped Health Care Index sank 3.87%.
The S&P/TSX Capped Utilities Index was lower by 1.18%.
The S&P/TSX Capped Industrial Index dropped 2.67%.
Molson Coors Brewing Co. (TSX:TAP) reported a steep drop in fourth-quarter earnings to US$96.8 million "due to unfavourable foreign currency and slowing industry trends." In New York, its shares were down $3.20 at US$37.30.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
The Toronto stock market and the Canadian dollar both tanked Tuesday on disappointment with U.S. Treasury Secretary Timothy Geithner's plan to help the financial sector.
Toronto's S&P/TSX composite index snapped a five-session winning streak to close down 229.39 points or 2.5 per cent to 8,817.89 led by a four per cent drop in the financial sector.
The TSX Venture Exchange was 0.99 of a point higher to 902.09.
The Canadian dollar tanked 1.97 cents to 80.24 cents US - after going as low as 80.04 cents as disappointment with the Geithner announcement sparked a selloff of a string of currencies in favour of the U.S. dollar.
Investors were also focused on Bank of Canada governor Mark Carney, who reiterated to a parliamentary committee that he expects the economy to rebound in 2010, growing by 3.8 per cent.
Many economists regard this as overly optimistic, but Carney said "such a recovery is actually more muted than usual," after what will be a difficult 2009.
ETFs (Exchange Traded Funds) that short the market, that is, they go up when everything goes down (my favorite since last January) were the best gainers in Toronto.
Horizons BetaPro NYMEX Natural Gas Bear ETF (HND) soared 11.54% to $45.54. Horizons BetaPro MSCI Emerging Markets Bear ETF (HJD-T) jumped 11.01% to %15.32. Horizons BetaPro S&P 500 Bear Plus ETF (HSD-T) was up 10.07% to $33.88. Horizons BetaPro NYMEX Crude Oil Bear ETF (HOD-T). Horizons BetaPro NASDAQ-100 Bear Plus ETF (HQD-T) gained 8.28% to $34.40.
Roger Biduk
The S&P/TSX Capped Financial Index sank 3.97% as TD Bank (TSX:TD) was down $1.57 to $39.12 and Bank of Montreal (TSX:BMO) fell $1.42 to $30.36. Savanna Energy Services (SVY) sank 12.13% to $5.94. Dundee Corp. (DC.A) dropped 11.01% to $5.09. Noranda Income fund (NIF.UN) dropped 9.98% to $4.24.
The S&P/TSX Energy Index tanked 4.44% per cent as the March crude contract in New York lost $2.01 to US$37.55 a barrel. Petro-Canada (TSX:PCA) declined $1.55 to $28.26 and EnCana Corp. (TSX:ECA) gave back $2.55 to $55.31.
Tusk Energy Corp. (TSX:TSK) announced a deal to be taken over by a unit of Teachers Insurance and Annuity Association of America in a deal valued at $257 million. Its shares soared $1.22 or 142 per cent to $2.08.
Pacific Rubiales Energy (PRE) tanked 9.71% to $2.79. Trinidad Drilling (TDG) sank 9.49% to $2.67. Highpine Oil & Gas (HPX) dropped 7.77% to $4.63.
The S&P/TSX Global Gold Index was up .30% as the April bullion contract in New York rose $21.40 to US$914.20 an ounce.
Goldcorp Inc. (TSX:G) climbed 74 cents to $36.83. First Quantum Minerals (FM) sank 13.03% to $26.96. Centerra Gold (CG) dropped 11.31% to $4.47. Aquiline Res. (AQI) sank 10.91% to $2.45. European Goldfields (EGU) dropped 7.86% to $2.93.
The S&P/TSX Capped Divesified Metals & Mining Index tanked 8.70% as aluminum dropped 2.64%, copper dipped 2.29% and silver gained 2.34%8.7 per cent with Teck Cominco Ltd. (TSX:TCK.B) down 54 cents to $4.96 and Quadra Mining (QUA) tanked 13.25% to $3.47. Ivanhoe Mines (IVN) sank 11.19%.
Shares in Inmet Mining (TSX:IMN) were off 96 cents to $25.65 after a fourth-quarter loss of $32.5 million on asset writedowns and low metal prices.
A Japanese consortium is paying $270 million for a 19.95 per cent interest in Uranium One Inc. (TSX:UUU). The Toronto-headquartered miner is active in Kazakhstan, the United States and South Africa and its shares climbed eight cents to $2.09 .
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.43% and the S&P/TSX Capped Telecom Services Index was down .75%.
Data encryption specialist Certicom Corp. (TSX:CIC) says it has been told by VeriSign Inc. that the California company will not match a $3-a-share takeover offer from Research In Motion Ltd. (TSX:RIM). RIM's proposal topped a $2.10-per-share price previously agreed to between VeriSign and Certicom. Certicom shares declined 29 cents to $2.97 while RIM ticked 92 cents lower to $70.88.
The S&P/TSX Consumer Discretionary Index dropped 2.00% and the S&P/TSX Consumer Staples Index was down .98%.
The S&P/TSX Capped Health Care Index sank 3.87%.
The S&P/TSX Capped Utilities Index was lower by 1.18%.
The S&P/TSX Capped Industrial Index dropped 2.67%.
Molson Coors Brewing Co. (TSX:TAP) reported a steep drop in fourth-quarter earnings to US$96.8 million "due to unfavourable foreign currency and slowing industry trends." In New York, its shares were down $3.20 at US$37.30.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Roger Biduk; Financials Lift Bay Street
Roger Biduk:
The Toronto stock market closed higher Monday, supported by financials a day before U.S. Treasury Secretary Timothy Geithner is to unveil an overhaul of the US$700-billion aid plan for the financial sector and by energy stocks even as oil prices slipped.
Toronto's S&P/TSX composite index was positive for a fifth session, adding 39.26 points to 9,047.28. The Dow Jones industrial eased 9.72 points to 8,270.87.
The TSX Venture Exchange inched 8.24 points lower to 901.1.
The Toronto market's advance followed a gain last week that saw the main index above 9,000 for the first time since early January, but analysts cautioned against exuberance.
The Canadian dollar was ahead 0.61 of a cent to 82.21 cents U.S. as Canada Mortgage and Housing Corp. reported a bigger than expected drop in housing starts last month. CMHC said the seasonally adjusted annual rate of housing starts declined 10.9 per cent in January to 153,500 units. It was the fifth straight monthly decline and left home construction at its slowest rate since 2001.
The S&P/TSX Capped Financial Index was up 1.15 per cent with Scotiabank (TSX:BNS) higher by 59 cents to $31.17 while TD Bank (TSX:TD) climbed 89 cents to $40.69.
Kingsway Financial Services Inc. (TSX:KFS) crumpled $1.36 or 21.75 per cent to $4.89 after the company said it is quitting some businesses, cutting 750 jobs and selling assets, while warning of a big fourth-quarter loss.
Allied Properties Real Estate (AP.UN) jumped 10.34%. H&R Real Estate Inv. (HR.UN) higher by 6.62% to $8.54. Birchcliff Energy Ltd. (BIR) rose 6.49% to $5.09. MI Developments Inc. (MIM.A) up by 5.60% to $9.05.
Roger Biduk:
The S&P/TSX Energy Index was ahead 2.49% as the March crude contract on the New York Mercantile Exchange fell 61 cents to US$39.56 a barrel despite an announcement from OPEC that dozens of production projects were being postponed. Natural gas was flat at $4.81.
EnCana Corp. (TSX:ECA) rose $1.55 to $57.86 and Suncor Inc. (TSX:SU) advanced 56 cents to $26.05.
Precision Drilling Trust (TSX:PD.UN) units fell 30 cents to $4.65 after Canada's largest oil and gas driller indefinitely suspended distributions as the recession undermines demand for its services.
Elsewhere in the oilpatch, the board of UTS Energy Corp. (TSX:UTS) urged shareholders to reject Total E&P Canada's "inadequate" $617-million offer to acquire the Calgary oilsands operator. UTS shares gained 10 cents to $1.80.
Crew Energy (CR) soared 13.24% to $4.02. Highpine Oil & Gas Ltd. (HPS) jumped 11.06% to $5.02. Pacific Rubiales Energy Corp. (PRE) rose 10.36% to $3.09. NuVista Energy Ltd. (NVA) gained 9.90% to $7.66. Petrobank Energy And Res. (PBG) up by 7.88% to $21.90.
The S&P/TSX Capped Divesified Metals & Mining Index as aluminum dropped 2.21%, copper dipped .95% and silver sank 2.51%
Teck Cominco Ltd. (TCK.B) was up 21 cents to $5.50 even as Moody's Investors Service on Friday lowered the miner's debt ratings.
Athabasca Potash (API) soared 22.56% to $2.39. Agnico-Eagle Mines (AEM) sank 5.29% to $3.60.
The S&P/TSX Global Gold Index sank 4.28% as the April bullion contract on the Nymex tanked $21.50 to US$892.80 an ounce.
Barrick Gold Corp. (TSX:ABX) faded $2.18 to $45.82 and Goldcorp Inc. (TSX:G) dropped $1.29 to $36.09. Centerra Gold (CG) tanked 11.58% to $5.04. Gabriel Res. (GBU) sank 8.93% to $2.55. Alamos Gold (AGI) lower by 6.07% to $7.35.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was up .42%.
The S&P/TSX Capped Health Care Index was higher by 1.06%.
The S&P/TSX Capped Utilities Index rose .74%.
The S&P/TSX Capped Industrial Index was up .49%.
The S&P/TSX Capped Information Technology Index was down .13% and the S&P/TSX Capped Telecom Services Index was up .12%.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
The Toronto stock market closed higher Monday, supported by financials a day before U.S. Treasury Secretary Timothy Geithner is to unveil an overhaul of the US$700-billion aid plan for the financial sector and by energy stocks even as oil prices slipped.
Toronto's S&P/TSX composite index was positive for a fifth session, adding 39.26 points to 9,047.28. The Dow Jones industrial eased 9.72 points to 8,270.87.
The TSX Venture Exchange inched 8.24 points lower to 901.1.
The Toronto market's advance followed a gain last week that saw the main index above 9,000 for the first time since early January, but analysts cautioned against exuberance.
The Canadian dollar was ahead 0.61 of a cent to 82.21 cents U.S. as Canada Mortgage and Housing Corp. reported a bigger than expected drop in housing starts last month. CMHC said the seasonally adjusted annual rate of housing starts declined 10.9 per cent in January to 153,500 units. It was the fifth straight monthly decline and left home construction at its slowest rate since 2001.
The S&P/TSX Capped Financial Index was up 1.15 per cent with Scotiabank (TSX:BNS) higher by 59 cents to $31.17 while TD Bank (TSX:TD) climbed 89 cents to $40.69.
Kingsway Financial Services Inc. (TSX:KFS) crumpled $1.36 or 21.75 per cent to $4.89 after the company said it is quitting some businesses, cutting 750 jobs and selling assets, while warning of a big fourth-quarter loss.
Allied Properties Real Estate (AP.UN) jumped 10.34%. H&R Real Estate Inv. (HR.UN) higher by 6.62% to $8.54. Birchcliff Energy Ltd. (BIR) rose 6.49% to $5.09. MI Developments Inc. (MIM.A) up by 5.60% to $9.05.
Roger Biduk:
The S&P/TSX Energy Index was ahead 2.49% as the March crude contract on the New York Mercantile Exchange fell 61 cents to US$39.56 a barrel despite an announcement from OPEC that dozens of production projects were being postponed. Natural gas was flat at $4.81.
EnCana Corp. (TSX:ECA) rose $1.55 to $57.86 and Suncor Inc. (TSX:SU) advanced 56 cents to $26.05.
Precision Drilling Trust (TSX:PD.UN) units fell 30 cents to $4.65 after Canada's largest oil and gas driller indefinitely suspended distributions as the recession undermines demand for its services.
Elsewhere in the oilpatch, the board of UTS Energy Corp. (TSX:UTS) urged shareholders to reject Total E&P Canada's "inadequate" $617-million offer to acquire the Calgary oilsands operator. UTS shares gained 10 cents to $1.80.
Crew Energy (CR) soared 13.24% to $4.02. Highpine Oil & Gas Ltd. (HPS) jumped 11.06% to $5.02. Pacific Rubiales Energy Corp. (PRE) rose 10.36% to $3.09. NuVista Energy Ltd. (NVA) gained 9.90% to $7.66. Petrobank Energy And Res. (PBG) up by 7.88% to $21.90.
The S&P/TSX Capped Divesified Metals & Mining Index as aluminum dropped 2.21%, copper dipped .95% and silver sank 2.51%
Teck Cominco Ltd. (TCK.B) was up 21 cents to $5.50 even as Moody's Investors Service on Friday lowered the miner's debt ratings.
Athabasca Potash (API) soared 22.56% to $2.39. Agnico-Eagle Mines (AEM) sank 5.29% to $3.60.
The S&P/TSX Global Gold Index sank 4.28% as the April bullion contract on the Nymex tanked $21.50 to US$892.80 an ounce.
Barrick Gold Corp. (TSX:ABX) faded $2.18 to $45.82 and Goldcorp Inc. (TSX:G) dropped $1.29 to $36.09. Centerra Gold (CG) tanked 11.58% to $5.04. Gabriel Res. (GBU) sank 8.93% to $2.55. Alamos Gold (AGI) lower by 6.07% to $7.35.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was up .42%.
The S&P/TSX Capped Health Care Index was higher by 1.06%.
The S&P/TSX Capped Utilities Index rose .74%.
The S&P/TSX Capped Industrial Index was up .49%.
The S&P/TSX Capped Information Technology Index was down .13% and the S&P/TSX Capped Telecom Services Index was up .12%.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Subscribe to:
Posts (Atom)
