Roger Biduk;
Stock markets tumbled Monday as the rally that has sent equities surging for most of this month ground to a halt amid a jolt of worry over General Motors and Chrysler.
Worth noting: Keep in mind that there’s a meeting on Thursday in the U.S. on changing or repealing the mark to market rule. I’d be buying the financials here. (FAS) closed today @ $4.85.
S&P/TSX Capped Diversified Metals & Mining Index tanked 7.96% as aluminum dropped 1.92%, copper fell 3.81% and silver was 1.73% lower to $13.03.
Consolidated Thompson Iron Min (CLM) +13.54% to $2.60. Forsys Metals Corp. (FSY) +8.04% to $4.84.
Teck Cominco Limited (TCK.B) -11.13% to $6.87. Inmet Mining Corporation (IMN) -10.58% to $30.33. Timminco Limited (TIM) -9.75% to $2.50. Osisko Mining Corporation (OSK) -6.61% to $5.37. Quadra Mining Ltd. (QUA) -6.46% to $5.65.
Roger Biduk;
Financial stocks slumped in Toronto, joined by energy and base-metal shares, as the price of crude oil fell almost US$4 a barrel.
The S&P/TSX Capped Industrial Index fell 2.10%.
JDS Uniphase Canada Ltd. (JDU) -8.69% to $4.52. Martinrea International Inc. (MRE) -6.16% to $2.74. ATS Automation Tooling Systems (ATA) -5.59% to $3.38. Churchill Corporation (The) (CUQ) -5.41% to $8.39. Armtec Infrastructure Income F (ARF.UN) -5.39% to $15.96.
The S&P/TSX composite index dropped as much as 368 points but the retreat moderated in the final minutes and the benchmark index closed with a loss of 224.84 points or 2.6% at 8,596.22.
This followed a gain of more than 16% over the course of the rally that took off March 10.
The TSX Venture Exchange fell 15.82 points to 945.2.
Stock market volatility helped send the Canadian dollar sharply lower, closing down 1.56 cents to 79.25 cents US as anxious investors flocked to the U.S. currency.
Roger Biduk;
The S&P/TSX Capped Information Technology Index fell 0.64% and the S&P/TSX Capped Telecom Services Index dropped 0.22%.
5N Plus Inc. (VNP) -7.39% to $5.51. Aastra Technologies Limited (AAH) -5.33% to $18.
The federal and Ontario governments also said they have not seen realistic restructuring plans with the auto companies, but they will go ahead with up to C$4 billion in loans to keep the Canadian divisions of GM and Chrysler afloat.
The S&P/TSX Capped Utilities Index lost 1.25%.
Boralex Inc. (BLX) -16.39% to $5.00. Northland Power Income Fund (NPI.UN) -6.60% to $9.90. Canadian Hydro Developers Inc (KHD) -6.00% to $2.35.
The April crude contract on the New York Mercantile Exchange tanked 7.58% to $48.41 and natural gas was flat at $3.76 as the S&P/TSX Energy Index lost 3.66%.
Trinidad Drilling Ltd. (TDG) -13.79% to $2.50. Paramount Energy Trust (PMT.UN) -10.14% to $3.19. Avenir Diversified Income Trust (AVF.UN) -10.14% to $3.19. Phoenix Technology Income Fund (PHX.UN) -10.07% to $6.70. Crew Energy Inc. (CR) -9.05% to $3.62.
Roger Biduk;
The S&P/TSX Capped Financial Index lost 4.29%.
The S&P/TSX Global Gold Index gained 1.28% as the April bullion contract in New York dropped $7.60 to US$917.70 an ounce.
Allied Nevada Gold Corp. (ANV) +10.40% to $6.90.
First Quantum Minerals Ltd. (FM) -9.46% to $33.50. US Gold Corporation (UXG) -7.80% to $2.60. SEMAFO INC. (SMF) -5.12% to $2.04. Greystar Resources Ltd. (GSL) -5.09% to $4.10.
The S&P/TSX Consumer Discretionary Index was 1.88% lower and the S&P/TSX Consumer Staples Index lower 0.42%.
Linamar Corporation (LNR) -10.96% to $2.60. Cascades Inc. (CAS) -5.58% to $2.20.
The S&P/TSX Capped Health Care Index was lower by 2.49%.
Atrium Innovations Inc. (ATB) -6.17% to $12.16.
In the service sector:
Ritchie Bros. Auctioneers Inco (RBA) +8.72% to $24.18.
Transat A.T. Inc (TRZ.B) -8.26% to $7.00. Reitmans (Canada) Limited (RET.A) -7.02% to $10.60. Canadian Pacific Railway Limit (CP) -6.62% to $37.38. New Flyer Industries Inc. (NFI.UN) -6.39% to $8.65. Jazz Air Income Fund (JAZ.UN) -6.00% to $3.29.
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Monday, March 30, 2009
Friday, March 27, 2009
Roger Biduk; Bay Street Down on Profit Taking
Roger Biduk;
Stock markets closed sharply lower Friday as traders took profits from an exuberant rally which is into its third week.
Toronto's S&P/TSX composite index fell 174.44 points on the day to close at 8,821.06 in a broad decline.
The TSX Venture Exchange slipped 13 points to 961.02.
The Canadian dollar was down 0.56 cent to 80.81 cents U.S.
Eleven of the twelve sectors I follow on the TSX were lower.
S&P/TSX Capped Diversified Metals & Mining Index rose 0.65% as aluminum dropped 1.52%, copper fell 1.02% and silver was 2.62% lower to $13.26.
Extract Resources Limited (EXT) +22.26% to $3.79. Equinox Minerals Limited (EQN) +8.90% to $2.08. Sherritt International Corpora (S) +6.71% to $3.18.
Forsys Metals Corp. (FSY) -8.20% to $4.48. Gerdau AmeriSteel Corporation (GNA) -5.83% to $4.20.
Agrium Inc. (TSX:AGU) is raising its bid for CF Industries Holdings Inc. (NYSE:CF) to US$4.2 billion, about 20 per cent above the original offer. Agrium shares lost $1.51 to $47.47.
Roger Biduk;
This still leaves the main Toronto index up 16.5% since the market's rally took off March 10 after Citigroup gratified investors by announcing it was profitable in the first two months of the year.
The TSX composite index is still down 166 points or almost 2% from where it started the year.
The S&P/TSX Capped Industrial Index fell 1.29%.
Ballard Power Systems Inc. (BLD) +21.18% to $2.06. Martinrea International Inc. (MRE) +9.89% to $3.00.TimberWest Forest Corp. (TWF.UN) +5.07% to $3.11.
Magellan Aerospace (TSX:MAL) descended two cents to 33 cents after it said it may be unable to continue as a going concern despite erasing losses. Magellan needs to renew a credit facility and win an extension on a $50-million loan to stay aloft.
The S&P/TSX Capped Utilities Index lost 0.96%.
Canadian investors digested plans by the Ontario government to give businesses $4.5 billion in tax cuts over three years. The provincial corporate income tax rate is to drop to 10 per cent by 2013 from the current 14.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange sank 3.61% to $52.38 and natural gas tanked 7.31% to $3.77 as the S&P/TSX Energy Index lost 3.12%.
The oil and gas sector up 13.75% since March 9 as oil firmed above US$50 a barrel.
Vero Energy Inc. (VRO) -6.55% to $3.28. Trinidad Drilling Ltd. (TDG) -6.45% to $2.90. Cathedral Energy Services Inco (CET.UN) -5.79% to $3.74. Phoenix Technology Income Fund (PHX.UN) -5.70% to $7.45. Paramount Resources Ltd. (POU) -5.32% to 6.41.
The S&P/TSX Capped Financial Index lost 1.05%. The index is up 30% from the March 9 trough.
Canadian General Investments L (CGI) +7.15% to $11.24.
Franco-Nevada Corporation (FNV.WT) -11.54% to $5.90. Noranda Income Fund (NIF.UN)
-9.70% to $2.70. Birchcliff Energy Ltd. (BIR) -7.34% to $6.44. Chemtrade Logistics Income Fun (CHE.UN) -7.32% to $5.19. Fairborne Energy Ltd. (FEL) -7.08% to $3.02.
The S&P/TSX Global Gold Index lost 2.90% as the April bullion contract in New York dropped $16.90 to US$925.30 an ounce.
Kinross Gold Corporation (K.WT.C) -7.26% to $5.750. International Minerals Corpora (IMZ)
-5.15% to $3.13.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 2.58% lower and the S&P/TSX Consumer Staples Index lower 1.90%.
Shares in yoga-wear retailer Lululemon Athletica Inc. (TSX:LLL) surged for a second day although same-store sales sagged eight per cent in the fourth quarter and are expected to decline further. Quarterly profit fell to $10.9 million from to $14.6 million but Lululemon shares rose 95 cents to $10.35 after running up $1.26 Thursday before the earnings report.
The S&P/TSX Capped Health Care Index was lower by 1.02%.
In the service sector:
Ritchie Bros. Auctioneers Inco (RBA) -5.08% to $22.24.
The S&P/TSX Capped Information Technology Index fell 1.77% and the S&P/TSX Capped Telecom Services Index dropped 0.81%.
Gennum Corporation (GND) +7.89% to $4.10. Celestica Inc. (CLS) -7.20% to $4.51. CGI Group Inc. (GIB.A) -5.73% to $9.87.
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Stock markets closed sharply lower Friday as traders took profits from an exuberant rally which is into its third week.
Toronto's S&P/TSX composite index fell 174.44 points on the day to close at 8,821.06 in a broad decline.
The TSX Venture Exchange slipped 13 points to 961.02.
The Canadian dollar was down 0.56 cent to 80.81 cents U.S.
Eleven of the twelve sectors I follow on the TSX were lower.
S&P/TSX Capped Diversified Metals & Mining Index rose 0.65% as aluminum dropped 1.52%, copper fell 1.02% and silver was 2.62% lower to $13.26.
Extract Resources Limited (EXT) +22.26% to $3.79. Equinox Minerals Limited (EQN) +8.90% to $2.08. Sherritt International Corpora (S) +6.71% to $3.18.
Forsys Metals Corp. (FSY) -8.20% to $4.48. Gerdau AmeriSteel Corporation (GNA) -5.83% to $4.20.
Agrium Inc. (TSX:AGU) is raising its bid for CF Industries Holdings Inc. (NYSE:CF) to US$4.2 billion, about 20 per cent above the original offer. Agrium shares lost $1.51 to $47.47.
Roger Biduk;
This still leaves the main Toronto index up 16.5% since the market's rally took off March 10 after Citigroup gratified investors by announcing it was profitable in the first two months of the year.
The TSX composite index is still down 166 points or almost 2% from where it started the year.
The S&P/TSX Capped Industrial Index fell 1.29%.
Ballard Power Systems Inc. (BLD) +21.18% to $2.06. Martinrea International Inc. (MRE) +9.89% to $3.00.TimberWest Forest Corp. (TWF.UN) +5.07% to $3.11.
Magellan Aerospace (TSX:MAL) descended two cents to 33 cents after it said it may be unable to continue as a going concern despite erasing losses. Magellan needs to renew a credit facility and win an extension on a $50-million loan to stay aloft.
The S&P/TSX Capped Utilities Index lost 0.96%.
Canadian investors digested plans by the Ontario government to give businesses $4.5 billion in tax cuts over three years. The provincial corporate income tax rate is to drop to 10 per cent by 2013 from the current 14.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange sank 3.61% to $52.38 and natural gas tanked 7.31% to $3.77 as the S&P/TSX Energy Index lost 3.12%.
The oil and gas sector up 13.75% since March 9 as oil firmed above US$50 a barrel.
Vero Energy Inc. (VRO) -6.55% to $3.28. Trinidad Drilling Ltd. (TDG) -6.45% to $2.90. Cathedral Energy Services Inco (CET.UN) -5.79% to $3.74. Phoenix Technology Income Fund (PHX.UN) -5.70% to $7.45. Paramount Resources Ltd. (POU) -5.32% to 6.41.
The S&P/TSX Capped Financial Index lost 1.05%. The index is up 30% from the March 9 trough.
Canadian General Investments L (CGI) +7.15% to $11.24.
Franco-Nevada Corporation (FNV.WT) -11.54% to $5.90. Noranda Income Fund (NIF.UN)
-9.70% to $2.70. Birchcliff Energy Ltd. (BIR) -7.34% to $6.44. Chemtrade Logistics Income Fun (CHE.UN) -7.32% to $5.19. Fairborne Energy Ltd. (FEL) -7.08% to $3.02.
The S&P/TSX Global Gold Index lost 2.90% as the April bullion contract in New York dropped $16.90 to US$925.30 an ounce.
Kinross Gold Corporation (K.WT.C) -7.26% to $5.750. International Minerals Corpora (IMZ)
-5.15% to $3.13.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 2.58% lower and the S&P/TSX Consumer Staples Index lower 1.90%.
Shares in yoga-wear retailer Lululemon Athletica Inc. (TSX:LLL) surged for a second day although same-store sales sagged eight per cent in the fourth quarter and are expected to decline further. Quarterly profit fell to $10.9 million from to $14.6 million but Lululemon shares rose 95 cents to $10.35 after running up $1.26 Thursday before the earnings report.
The S&P/TSX Capped Health Care Index was lower by 1.02%.
In the service sector:
Ritchie Bros. Auctioneers Inco (RBA) -5.08% to $22.24.
The S&P/TSX Capped Information Technology Index fell 1.77% and the S&P/TSX Capped Telecom Services Index dropped 0.81%.
Gennum Corporation (GND) +7.89% to $4.10. Celestica Inc. (CLS) -7.20% to $4.51. CGI Group Inc. (GIB.A) -5.73% to $9.87.
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Wednesday, March 25, 2009
Roger Biduk; Bay Street Lower on Oils and Financials
Roger Biduk,
The Toronto stock market handed in a negative finish for a second straight session Wednesday, pressured by the energy sector as oil prices fell while financials stepped back amid tepid reaction to major bond issues in the U.S. and Britain.
The S&P/TSX Global Gold Index jumped 3.18% as the April bullion contract in New York rose $12.00 to US$938.00 an ounce.
Jaguar Mining Inc. (JAG) +5.35% to $7.48. Kinross Gold Corporation (K.WT.C) +5.57% to $6.25. Alamos Gold Inc. (AGI) +5.95% to $8.90. Premier Gold Mines Limited (PG) +6.60% to $2.10. Richmont Mines Inc. (RIC) +7.50% to $4.30.
Banro Corporation (BAA) -6.41% to $2.19.
The S&P/TSX Consumer Discretionary Index was 0.90% lower and the S&P/TSX Consumer Staples Index lost 0.14%.
Toronto's S&P/TSX composite index stepped back from a 132-point surge to close down 51.95 points to 8,797.44.
The TSX Venture Exchange rose 24.75 points to 949.04.
The Canadian dollar gained 0.22 of a cent to 81.4 cents US.
The S&P/TSX Capped Health Care Index was lower by 0.60%.
Cangene Corporation (CNJ) +6.62% to $4.99.
In the service sector:
Groupe Aeroplan Inc. (AER) -7.69% to $8.40.
Roger Biduk;
Among TSX industrials, Magna International (TSX:MG.A) rose 58 cents to $34.59 after U.S. Sen. Charles Schumer said the company has agreed to discuss a last-minute aid package that could keep Magna from closing its New Process Gear plant in upstate New York.
The S&P/TSX Capped Industrial Index dropped 1.84%.
Newalta Inc. (NAL) +9.96% to $2.54. Bird Construction Income Fund (BDT.UN) +9.71% to $22.49. TimberWest Forest Corp. (TWF.UN) +9.38% to $2.80. Vector Aerospace Corporation (RNO) +8.54% to $4.45.
ATS Automation Tooling Systems (ATA) -6.33% to $3.550 Bombardier Inc. (BBD.B) -5.63% to $2.85. JDS Uniphase Canada Ltd. (JDU) -5.06% to $4.69.
The S&P/TSX Capped Information Technology Index rose 1.01% and the S&P/TSX Capped Telecom Services Index gained 0.30%.March Networks Corporation (MN) +16.13% to $2.88. Celestica Inc. (CLS) +12.11% to $4.35. EXFO Electro-Optical Engineeri (EXF) +5.53% to $4.39.
CGI Group Inc. (TSX:GIB.A) rose 26 cents to $10.01 after winning a 10-year, $182-million contract to manage information technology for the Foresters life insurance organization.
The April crude contract on the New York Mercantile Exchange lost 2.24% to $52.77 and natural gas sank .59% to $4.41 as the S&P/TSX Energy Index lost 1.10%.
New U.S. inventory figures showed crude supplies rose by 3.3 million barrels last week, about twice the amount expected.
Heritage Oil Corporation (HOC) +20.74% to $6.52. Paramount Resources Ltd. (POU) +14.26% to $6.33.
Gran Tierra Exchangeco Inc. (GTX) -5.65% to $3.34.
Meanwhile, Oilexco Inc. (TSXV:OIL), an insolvent Calgary-based international energy company, saw its shares plunge 57 per cent after it announced that British-based Premier Oil will acquire Oilexco's operating subsidiary for $505 million. Oilexco stock plunged 16 cents to close at 12 cents, a drop of 57 per cent in massive trading of more than 48 million shares, making the company the most active issue on the TSX Venture Exchange.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index gained 1.40% as aluminum gained .39%, copper lost .17% and silver was 0.60% higher to $13.36.
Athabasca Potash Inc. (API) +16.23% to $3.08. Teck Cominco Limited (TCK.A) +11.28% to $10.16. Ivanhoe Mines Ltd. (IVN) +5.88% to $7.200. Red Back Mining Inc.(RBI) +5.47% to $8.49.
CIC Energy Corp. (ELC) -12.01% to $2.49. Uranium One Inc. (UUU) -6.73% to $2.77.
The S&P/TSX Capped Financial Index lost 1.64%.
Stone Agribusiness Fund (HAY.UN) +8.48% to $4.99. Noranda Income Fund (NIF.UN) +5.67% to $3.17.
Canadian Life Companies Split (LFE) -9.66% to $2.90. Chemtrade Logistics Income Fun (CHE.UN) -7.49% to $5.56. Dundee Corporation (DC.A) -5.00% to $4.75.
The S&P/TSX Capped Utilities Index lost 2.16%.
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The Toronto stock market handed in a negative finish for a second straight session Wednesday, pressured by the energy sector as oil prices fell while financials stepped back amid tepid reaction to major bond issues in the U.S. and Britain.
The S&P/TSX Global Gold Index jumped 3.18% as the April bullion contract in New York rose $12.00 to US$938.00 an ounce.
Jaguar Mining Inc. (JAG) +5.35% to $7.48. Kinross Gold Corporation (K.WT.C) +5.57% to $6.25. Alamos Gold Inc. (AGI) +5.95% to $8.90. Premier Gold Mines Limited (PG) +6.60% to $2.10. Richmont Mines Inc. (RIC) +7.50% to $4.30.
Banro Corporation (BAA) -6.41% to $2.19.
The S&P/TSX Consumer Discretionary Index was 0.90% lower and the S&P/TSX Consumer Staples Index lost 0.14%.
Toronto's S&P/TSX composite index stepped back from a 132-point surge to close down 51.95 points to 8,797.44.
The TSX Venture Exchange rose 24.75 points to 949.04.
The Canadian dollar gained 0.22 of a cent to 81.4 cents US.
The S&P/TSX Capped Health Care Index was lower by 0.60%.
Cangene Corporation (CNJ) +6.62% to $4.99.
In the service sector:
Groupe Aeroplan Inc. (AER) -7.69% to $8.40.
Roger Biduk;
Among TSX industrials, Magna International (TSX:MG.A) rose 58 cents to $34.59 after U.S. Sen. Charles Schumer said the company has agreed to discuss a last-minute aid package that could keep Magna from closing its New Process Gear plant in upstate New York.
The S&P/TSX Capped Industrial Index dropped 1.84%.
Newalta Inc. (NAL) +9.96% to $2.54. Bird Construction Income Fund (BDT.UN) +9.71% to $22.49. TimberWest Forest Corp. (TWF.UN) +9.38% to $2.80. Vector Aerospace Corporation (RNO) +8.54% to $4.45.
ATS Automation Tooling Systems (ATA) -6.33% to $3.550 Bombardier Inc. (BBD.B) -5.63% to $2.85. JDS Uniphase Canada Ltd. (JDU) -5.06% to $4.69.
The S&P/TSX Capped Information Technology Index rose 1.01% and the S&P/TSX Capped Telecom Services Index gained 0.30%.March Networks Corporation (MN) +16.13% to $2.88. Celestica Inc. (CLS) +12.11% to $4.35. EXFO Electro-Optical Engineeri (EXF) +5.53% to $4.39.
CGI Group Inc. (TSX:GIB.A) rose 26 cents to $10.01 after winning a 10-year, $182-million contract to manage information technology for the Foresters life insurance organization.
The April crude contract on the New York Mercantile Exchange lost 2.24% to $52.77 and natural gas sank .59% to $4.41 as the S&P/TSX Energy Index lost 1.10%.
New U.S. inventory figures showed crude supplies rose by 3.3 million barrels last week, about twice the amount expected.
Heritage Oil Corporation (HOC) +20.74% to $6.52. Paramount Resources Ltd. (POU) +14.26% to $6.33.
Gran Tierra Exchangeco Inc. (GTX) -5.65% to $3.34.
Meanwhile, Oilexco Inc. (TSXV:OIL), an insolvent Calgary-based international energy company, saw its shares plunge 57 per cent after it announced that British-based Premier Oil will acquire Oilexco's operating subsidiary for $505 million. Oilexco stock plunged 16 cents to close at 12 cents, a drop of 57 per cent in massive trading of more than 48 million shares, making the company the most active issue on the TSX Venture Exchange.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index gained 1.40% as aluminum gained .39%, copper lost .17% and silver was 0.60% higher to $13.36.
Athabasca Potash Inc. (API) +16.23% to $3.08. Teck Cominco Limited (TCK.A) +11.28% to $10.16. Ivanhoe Mines Ltd. (IVN) +5.88% to $7.200. Red Back Mining Inc.(RBI) +5.47% to $8.49.
CIC Energy Corp. (ELC) -12.01% to $2.49. Uranium One Inc. (UUU) -6.73% to $2.77.
The S&P/TSX Capped Financial Index lost 1.64%.
Stone Agribusiness Fund (HAY.UN) +8.48% to $4.99. Noranda Income Fund (NIF.UN) +5.67% to $3.17.
Canadian Life Companies Split (LFE) -9.66% to $2.90. Chemtrade Logistics Income Fun (CHE.UN) -7.49% to $5.56. Dundee Corporation (DC.A) -5.00% to $4.75.
The S&P/TSX Capped Utilities Index lost 2.16%.
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Tuesday, March 24, 2009
Roger Biduk; Financials & Energy Sink Bay Street
Roger Biduk;
The TSX closed sharply lower Tuesday, but still hung on to most of the huge 452-point runup from the previous session.
The S&P/TSX Capped Health Care Index was lower by 0.60%.
IMRIS Inc. (IM) +17.15% to $2.80.
In the service sector:
MacDonald, Dettwiler and Assoc (MDA) +8.53% to $25.45. Reitmans (Canada) Limited (RET.A) +7.45% to $11.39. Stantec Inc. (STN) +7.28% to $23.43. Alimentation Couche-Tard Inc. (ATD.B) +6.12% to $12.65. New Flyer Industries Inc. (NFI.UN) +6.11% to $9.38.
ACE Aviation Holdings Inc. (ACE.A) -5.98% to $5.66. Mullen Group Income Fund (MTL.UN)
-5.28% to $9.51.
Toronto's S&P/TSX composite index was well off the lows of the session, recovering from an early deficit of about 200 points to close down 109.12 points to 8,849.39, with losses led by energy and financial stocks.
The TSX Venture Exchange inched 0.26 of a point higher to 924.29.
The Canadian dollar slipped 0.62 cent to 81.18 cents US.
Roger Biduk;
The S&P/TSX Global Gold Index lost 1.38% as the April bullion contract in New York sank $28.70 to US$923.80 an ounce.
NovaGold Resources Inc (NG) +9.00% to $3.15. Semafo Inc. (SMF) +5.66% to $2.24. Richmont Mines Inc. (RIC) +5.26% to $4.00.
First Quantum Minerals Ltd. (FM) -13.55% to $36.50. European Goldfields Limited (EGU) -6.61% to $3.39. Gabriel Resources Ltd. (GBU) -6.18% to $2.58. Greystar Resources Ltd. (GSL) -6.15% to $3.66. Moto Goldmines Limited (MGL) -5.78% to $2.77.
The strong showing on the TSX Monday extended a two-week rally as the U.S. government detailed a plan to support private investors in taking over as much as US$1 trillion in bad loans from American banks.
The S&P/TSX Consumer Discretionary Index was 0.16% higher and the S&P/TSX Consumer Staples Index lost 0.16%.
Linamar Corporation (LNR) +5.06% to $2.70.
The TSX is up 17 per cent from the trough of March 9 - but still underwater year-to-date and down dramatically from last June's peak of just over 15,000.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index lost 1.89% as aluminum fell 2.65%, copper lost 1.90% and silver was 3.73% lower to $13.36.
HudBay Minerals Inc. (TSX:HBM) ran up 20 cents to $6 after dissident investors won control of the mining company following a bitter proxy battle.
Uranium One Inc. (UUU) +9.59% to $2.97. Altius Minerals Corporation (ALS) +5.96% to $7.11.
First Quantum Minerals Ltd. (FM) -13.55% to $36.50. Fronteer Development Group Inc (FRG) -6.67% to $3.08.
The S&P/TSX Capped Financial Index, which had surged 34 per cent from the March 9 trough, lost 2.03%.
Kingsway Financial Services In (KFS) +11.11% to $2.50. DiversiTrust Income Fund (DTF.UN) +9.56% to $7.45. Claymore S&P/TSX Global Mining (CMW.A) +8.73% to $14.69. DPF India Opportunities Fund (DPF.UN) +7.42% to $2.75. Brookfield Asset Management In (BAM.PR.B) +6.31% to $8.25.
Dundee Corporation (DC.A) -5.84% to $5.00. Uranium Participation Corporat (U) -5.70% to $6.45. Freehold Royalty Trust (FRU.UN) -5.58% to $9.30. AGF Management Limited (AGF.B) -5.26% to $8.29. Brascan SoundVest Rising Distr (BSD.PR.A) -5.09% to $5.03.
The April crude contract on the New York Mercantile Exchange gained 0.33% to $53.98 and natural gas rose 1.46% to $4.44 as the S&P/TSX Energy Index lost 2.72%.
Oil has risen more than 30 per cent this month as the U.S. dollar weakened and as traders wagered that the slide in the world's economy could be slowing. Oil had fallen in recent months as traders feared that economic weakness would crimp demand.
Cathedral Energy Services Inco (CET.UN) +14.86% to $4.02. Flint Energy Services Ltd. (FES) +7.20% to $6.85.Verenex Energy Inc. (VNX) +6.31% to $9.10.
West Energy Ltd. (WTL) -8.98% to $2.23. Crew Energy Inc. (CR) -8.92% to $4.39. Galleon Energy Inc. (GO) -8.72% to $3.77. Suncor Energy Inc. (SU) -7.29% to $28.50. Trican Well Service Ltd. (TCW) -5.85% to $6.92.
Roger Biduk;
The S&P/TSX Capped Information Technology Index rose 1.54% and the S&P/TSX Capped Telecom Services Index gained 0.91%.
5N Plus Inc. (VNP) +12.19% to $5.80. March Networks Corporation (MN) +7.83% to $2.48.
Torstar Corporation (TS.B) -5.21% to $4.91.
Shaw Communications Inc. (TSX:SJR.B) slipped 10 cents to $19.99 as it reported subscriber growth in all its services, including an 11 per cent rise in digital TV clients.
The S&P/TSX Capped Utilities Index gained 0.10%.
S&P/TSX Capped Industrial Index gained 0.42%.
JDS Uniphase Canada Ltd. (JDU) +10.02% to $4.83. TimberWest Forest Corp. (TWF.UN) +5.35% to $2.56. Newalta Inc. (NAL) -8.70% to $2.31.
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The TSX closed sharply lower Tuesday, but still hung on to most of the huge 452-point runup from the previous session.
The S&P/TSX Capped Health Care Index was lower by 0.60%.
IMRIS Inc. (IM) +17.15% to $2.80.
In the service sector:
MacDonald, Dettwiler and Assoc (MDA) +8.53% to $25.45. Reitmans (Canada) Limited (RET.A) +7.45% to $11.39. Stantec Inc. (STN) +7.28% to $23.43. Alimentation Couche-Tard Inc. (ATD.B) +6.12% to $12.65. New Flyer Industries Inc. (NFI.UN) +6.11% to $9.38.
ACE Aviation Holdings Inc. (ACE.A) -5.98% to $5.66. Mullen Group Income Fund (MTL.UN)
-5.28% to $9.51.
Toronto's S&P/TSX composite index was well off the lows of the session, recovering from an early deficit of about 200 points to close down 109.12 points to 8,849.39, with losses led by energy and financial stocks.
The TSX Venture Exchange inched 0.26 of a point higher to 924.29.
The Canadian dollar slipped 0.62 cent to 81.18 cents US.
Roger Biduk;
The S&P/TSX Global Gold Index lost 1.38% as the April bullion contract in New York sank $28.70 to US$923.80 an ounce.
NovaGold Resources Inc (NG) +9.00% to $3.15. Semafo Inc. (SMF) +5.66% to $2.24. Richmont Mines Inc. (RIC) +5.26% to $4.00.
First Quantum Minerals Ltd. (FM) -13.55% to $36.50. European Goldfields Limited (EGU) -6.61% to $3.39. Gabriel Resources Ltd. (GBU) -6.18% to $2.58. Greystar Resources Ltd. (GSL) -6.15% to $3.66. Moto Goldmines Limited (MGL) -5.78% to $2.77.
The strong showing on the TSX Monday extended a two-week rally as the U.S. government detailed a plan to support private investors in taking over as much as US$1 trillion in bad loans from American banks.
The S&P/TSX Consumer Discretionary Index was 0.16% higher and the S&P/TSX Consumer Staples Index lost 0.16%.
Linamar Corporation (LNR) +5.06% to $2.70.
The TSX is up 17 per cent from the trough of March 9 - but still underwater year-to-date and down dramatically from last June's peak of just over 15,000.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index lost 1.89% as aluminum fell 2.65%, copper lost 1.90% and silver was 3.73% lower to $13.36.
HudBay Minerals Inc. (TSX:HBM) ran up 20 cents to $6 after dissident investors won control of the mining company following a bitter proxy battle.
Uranium One Inc. (UUU) +9.59% to $2.97. Altius Minerals Corporation (ALS) +5.96% to $7.11.
First Quantum Minerals Ltd. (FM) -13.55% to $36.50. Fronteer Development Group Inc (FRG) -6.67% to $3.08.
The S&P/TSX Capped Financial Index, which had surged 34 per cent from the March 9 trough, lost 2.03%.
Kingsway Financial Services In (KFS) +11.11% to $2.50. DiversiTrust Income Fund (DTF.UN) +9.56% to $7.45. Claymore S&P/TSX Global Mining (CMW.A) +8.73% to $14.69. DPF India Opportunities Fund (DPF.UN) +7.42% to $2.75. Brookfield Asset Management In (BAM.PR.B) +6.31% to $8.25.
Dundee Corporation (DC.A) -5.84% to $5.00. Uranium Participation Corporat (U) -5.70% to $6.45. Freehold Royalty Trust (FRU.UN) -5.58% to $9.30. AGF Management Limited (AGF.B) -5.26% to $8.29. Brascan SoundVest Rising Distr (BSD.PR.A) -5.09% to $5.03.
The April crude contract on the New York Mercantile Exchange gained 0.33% to $53.98 and natural gas rose 1.46% to $4.44 as the S&P/TSX Energy Index lost 2.72%.
Oil has risen more than 30 per cent this month as the U.S. dollar weakened and as traders wagered that the slide in the world's economy could be slowing. Oil had fallen in recent months as traders feared that economic weakness would crimp demand.
Cathedral Energy Services Inco (CET.UN) +14.86% to $4.02. Flint Energy Services Ltd. (FES) +7.20% to $6.85.Verenex Energy Inc. (VNX) +6.31% to $9.10.
West Energy Ltd. (WTL) -8.98% to $2.23. Crew Energy Inc. (CR) -8.92% to $4.39. Galleon Energy Inc. (GO) -8.72% to $3.77. Suncor Energy Inc. (SU) -7.29% to $28.50. Trican Well Service Ltd. (TCW) -5.85% to $6.92.
Roger Biduk;
The S&P/TSX Capped Information Technology Index rose 1.54% and the S&P/TSX Capped Telecom Services Index gained 0.91%.
5N Plus Inc. (VNP) +12.19% to $5.80. March Networks Corporation (MN) +7.83% to $2.48.
Torstar Corporation (TS.B) -5.21% to $4.91.
Shaw Communications Inc. (TSX:SJR.B) slipped 10 cents to $19.99 as it reported subscriber growth in all its services, including an 11 per cent rise in digital TV clients.
The S&P/TSX Capped Utilities Index gained 0.10%.
S&P/TSX Capped Industrial Index gained 0.42%.
JDS Uniphase Canada Ltd. (JDU) +10.02% to $4.83. TimberWest Forest Corp. (TWF.UN) +5.35% to $2.56. Newalta Inc. (NAL) -8.70% to $2.31.
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Roger Biduk; Financials and Energy Rally Bay Street
Roger Biduk;
Toronto's S&P/TSX composite index jumped 452.16 points Monday to 8,958.51. The Canadian benchmark index is up 18.4 per cent since its March 9 trough, led by a 34 per cent rise in the financial sector. Ten of the eleven sectors I follow on the TSX were higher.
The TSX Venture Exchange rose 22.23 points to 924.03.
The Canadian dollar gained 1.12 cents to 81.8 cents US as the American dollar weakened on worries about inflation resulting from the taxpayer-supported plan to remove up to US$1 trillion in bad loans from the banks' balance sheets.
ETFs led the way.
Horizons BetaPro S&P/TSX Capped Financial Bull (HFU) +16.78%. Horizons BetaPro MSCI Emerging Markets Bull (HJU) +16.68%. Horizons BetaPro S&P 500 Bull (HSU) +14.09%.
The S&P/TSX Capped Health Care Index was higher by 1.21%.
In the service sector:
Contrans Income Fund (CSS.UN) +9.86% to $3.90. Transcontinental Inc. (TCL.A) +9.24% to $6.15. Canadian Pacific Railway Limit (CP) +7.18% to $39.55. Great Canadian Gaming Corporat (GC) +6.27% to $2.71. WestJet Airlines Ltd. (WJA) +5.96% to $11.55.
ACE Aviation Holdings Inc. (ACE.A) -7.38% to $6.02.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange gained 3.32% to $53.80 and natural gas rose 1.16% to $4.43 as the S&P/TSX Energy Index jumped 7.41%.
Energy stocks took off after Suncor Energy Inc. (TSX:SU) and Petro-Canada (TSX:PCA) announced an all-stock combination into a company valued at $43.3 billion. The new enterprise is to operate under the Suncor name with existing Petro-Canada shareholders owning 40 per cent. Suncor shares slipped 16 cents to $30.74 while Petro-Canada soared $6.05 or 20 per cent to $35.70.
Galleon Energy Inc. (GO) +20.41% to $4.13. Cathedral Energy Services Inco (CET.UN) +18.64% to $3.50. Trinidad Drilling Ltd. (TDG) +13.88% to $3.20. Progress Energy Resources Corp (PRQ) +11.76% to $10.64. Talisman Energy Inc. (TLM) +11.31% to $14.47.
The gold sector was the only decliner. The S&P/TSX Global Gold Index lost 0.82% as the April bullion contract in New York sank $3.70 to US$952.50 an ounce.
Banro Corporation (BAA) +18.05% to $2.42. European Goldfields Limited (EGU) +10.33% to $3.63. First Quantum Minerals Ltd. (FM) +9.38% to $42.22. Imperial Metals Corporation (III) +7.21% to $3.27.
Alamos Gold Inc. (AGI) -5.06% to $8.26. Vista Gold Corp. (VGZ) -5.06% to $2.44.
Statistics Canada, meanwhile, reported that its gauge of future economic activity fell 1.1 per cent in February after a 0.9 per cent decrease in January.
The S&P/TSX Consumer Discretionary Index was 4.00% higher and the S&P/TSX Consumer Staples Index gained 1.43%.
Richards Packaging Income Fund (RPI.UN) +12.36% $3.00. Linamar Corporation (LNR) +11.74% to $2.57. Cascades Inc. (CAS) +10.10% to $2.18. Gildan Activewear Inc. (GIL) +8.57% to $10.26. Supremex Income Fund (SXP.UN) +7.14% to $2.25.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index soared 9.13% as aluminum fell 0.75%, copper gained 2.51% and silver was 0.25% higher to $13.88.
Athabasca Potash Inc. (API) +16.44% to $2.55. Sherritt International Corpora (S) +16.03% to $2.75. Teck Cominco Limited (TCK.B) +12.93% to $6.64. Timminco Limited (TIM) +10.77% to $2.16. Quadra Mining Ltd. (QUA) +9.82% to $5.48.
The S&P/TSX Capped Information Technology Index rose 3.72% and the S&P/TSX Capped Telecom Services Index gained 1.96%.
5N Plus Inc. (VNP) +8.39% to $5.17. Research in Motion Limited (RIM) +7.21% to $55.00. Torstar Corporation (TS.B) +6.40% to $5.15. CGI Group Inc. (GIB.A) +5.68% to $9.68. Matrikon Inc. (MTK) +5.26% to $2.00.
The S&P/TSX Capped Financial Index soared 8.93%.
Financial 15 Split Corp. II (FFN) +30.42% to $3.73. CIX Split Corp. (CXC) +28.66% to $2.11. Fairborne Energy Ltd. (FEL) +20.67% to $3.62. NB Split Corp. (NBF) +20.00% to $6.00. Homburg Invest Inc. (HII.A) +18.10% to $10.83.
Melcor Developments Ltd. (MRD) -6.19% to $4.55. DPF India Opportunities Fund (DPF.UN)
-5.19% to $2.56.
The S&P/TSX Capped Utilities Index gained 1.36%.
Canadian Hydro Developers Inc (KHD) +7.75% to $2.78.
S&P/TSX Capped Industrial Index jumped 5.34%. Bombardier Inc. (BBD.B) +7.14% to $3.00. Sino-Forest Corporation (TRE) +6.83% to $7.98. Toromont Industries Ltd. (TIH) +6.29% to $24.15. Churchill Corporation (The) (CUQ) +6.22% to $8.20. Martinrea International Inc. (MRE) +5.78% to $2.38.
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Toronto's S&P/TSX composite index jumped 452.16 points Monday to 8,958.51. The Canadian benchmark index is up 18.4 per cent since its March 9 trough, led by a 34 per cent rise in the financial sector. Ten of the eleven sectors I follow on the TSX were higher.
The TSX Venture Exchange rose 22.23 points to 924.03.
The Canadian dollar gained 1.12 cents to 81.8 cents US as the American dollar weakened on worries about inflation resulting from the taxpayer-supported plan to remove up to US$1 trillion in bad loans from the banks' balance sheets.
ETFs led the way.
Horizons BetaPro S&P/TSX Capped Financial Bull (HFU) +16.78%. Horizons BetaPro MSCI Emerging Markets Bull (HJU) +16.68%. Horizons BetaPro S&P 500 Bull (HSU) +14.09%.
The S&P/TSX Capped Health Care Index was higher by 1.21%.
In the service sector:
Contrans Income Fund (CSS.UN) +9.86% to $3.90. Transcontinental Inc. (TCL.A) +9.24% to $6.15. Canadian Pacific Railway Limit (CP) +7.18% to $39.55. Great Canadian Gaming Corporat (GC) +6.27% to $2.71. WestJet Airlines Ltd. (WJA) +5.96% to $11.55.
ACE Aviation Holdings Inc. (ACE.A) -7.38% to $6.02.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange gained 3.32% to $53.80 and natural gas rose 1.16% to $4.43 as the S&P/TSX Energy Index jumped 7.41%.
Energy stocks took off after Suncor Energy Inc. (TSX:SU) and Petro-Canada (TSX:PCA) announced an all-stock combination into a company valued at $43.3 billion. The new enterprise is to operate under the Suncor name with existing Petro-Canada shareholders owning 40 per cent. Suncor shares slipped 16 cents to $30.74 while Petro-Canada soared $6.05 or 20 per cent to $35.70.
Galleon Energy Inc. (GO) +20.41% to $4.13. Cathedral Energy Services Inco (CET.UN) +18.64% to $3.50. Trinidad Drilling Ltd. (TDG) +13.88% to $3.20. Progress Energy Resources Corp (PRQ) +11.76% to $10.64. Talisman Energy Inc. (TLM) +11.31% to $14.47.
The gold sector was the only decliner. The S&P/TSX Global Gold Index lost 0.82% as the April bullion contract in New York sank $3.70 to US$952.50 an ounce.
Banro Corporation (BAA) +18.05% to $2.42. European Goldfields Limited (EGU) +10.33% to $3.63. First Quantum Minerals Ltd. (FM) +9.38% to $42.22. Imperial Metals Corporation (III) +7.21% to $3.27.
Alamos Gold Inc. (AGI) -5.06% to $8.26. Vista Gold Corp. (VGZ) -5.06% to $2.44.
Statistics Canada, meanwhile, reported that its gauge of future economic activity fell 1.1 per cent in February after a 0.9 per cent decrease in January.
The S&P/TSX Consumer Discretionary Index was 4.00% higher and the S&P/TSX Consumer Staples Index gained 1.43%.
Richards Packaging Income Fund (RPI.UN) +12.36% $3.00. Linamar Corporation (LNR) +11.74% to $2.57. Cascades Inc. (CAS) +10.10% to $2.18. Gildan Activewear Inc. (GIL) +8.57% to $10.26. Supremex Income Fund (SXP.UN) +7.14% to $2.25.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index soared 9.13% as aluminum fell 0.75%, copper gained 2.51% and silver was 0.25% higher to $13.88.
Athabasca Potash Inc. (API) +16.44% to $2.55. Sherritt International Corpora (S) +16.03% to $2.75. Teck Cominco Limited (TCK.B) +12.93% to $6.64. Timminco Limited (TIM) +10.77% to $2.16. Quadra Mining Ltd. (QUA) +9.82% to $5.48.
The S&P/TSX Capped Information Technology Index rose 3.72% and the S&P/TSX Capped Telecom Services Index gained 1.96%.
5N Plus Inc. (VNP) +8.39% to $5.17. Research in Motion Limited (RIM) +7.21% to $55.00. Torstar Corporation (TS.B) +6.40% to $5.15. CGI Group Inc. (GIB.A) +5.68% to $9.68. Matrikon Inc. (MTK) +5.26% to $2.00.
The S&P/TSX Capped Financial Index soared 8.93%.
Financial 15 Split Corp. II (FFN) +30.42% to $3.73. CIX Split Corp. (CXC) +28.66% to $2.11. Fairborne Energy Ltd. (FEL) +20.67% to $3.62. NB Split Corp. (NBF) +20.00% to $6.00. Homburg Invest Inc. (HII.A) +18.10% to $10.83.
Melcor Developments Ltd. (MRD) -6.19% to $4.55. DPF India Opportunities Fund (DPF.UN)
-5.19% to $2.56.
The S&P/TSX Capped Utilities Index gained 1.36%.
Canadian Hydro Developers Inc (KHD) +7.75% to $2.78.
S&P/TSX Capped Industrial Index jumped 5.34%. Bombardier Inc. (BBD.B) +7.14% to $3.00. Sino-Forest Corporation (TRE) +6.83% to $7.98. Toromont Industries Ltd. (TIH) +6.29% to $24.15. Churchill Corporation (The) (CUQ) +6.22% to $8.20. Martinrea International Inc. (MRE) +5.78% to $2.38.
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Friday, March 20, 2009
Roger Biduk; Bay Street Lower After Eight Day Rally
Roger Biduk;
The Toronto stock market closed lower Friday as investors took profits from a solid, eight-day rally.
Toronto's S&P/TSX composite index fell 184.14 points to 8,506.35. But the main index is still up 935 points, or 12.4 per cent over the eight day runup that started Mar. 10, led by gains in financial stocks.
The TSX Venture Exchange headed down 1.77 points to 901.8.
The S&P/TSX Consumer Discretionary Index was 1.43% lower and the S&P/TSX Consumer Staples Index lost .44%.
ZCL Composites Inc. (ZCL) +6.99% to $4.90.
Fortress Paper Ltd. (FTP) -10.37% to $5.10. Gildan Activewear Inc. (GIL) -6.25% to $9.45.
However, some analysts questioned why the rally happened in the first place and held out minimal hope of the gains sticking.
S&P/TSX Capped Diversified Metals & Mining Index lost 4.11% as aluminum jumped 5.56%, copper dropped .64% and silver was 2.22% higher to $13.82.
Forsys Metals Corp. (FSY) +16.87% to $4.71. First Uranium Corporation (FIU) +16.18% to $6.39. Fronteer Development Group Inc (FRG) +8.47% to $3.20.
Inmet Mining Corporation (IMN) -8.14% to $33.65. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Quadra Mining Ltd. (QUA) -6.90% to $4.99. Gerdau AmeriSteel Corporation (GNA)
-5.19% to $3.84.
Roger Biduk;
The Canadian dollar was down 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion after declining 5.2% in December - their largest monthly decline in more than 15 years. Sales rose in five of eight retail sectors, led by a 3.8 per cent increase in the automotive sector.
The April crude contract on the New York Mercantile Exchange dropped .55% to $51.06 and natural gas rose 1.53% to $4.31 as the S&P/TSX Energy Index tanked 4.11%.
Cathedral Energy Services Inco (CET.UN) -8.39% to $2.95. Gran Tierra Energy Inc. (GTE)
-8.06% to $3.31. Addax Petroleum Corporation (AXC) -7.67% to $26.59. Suncor Energy Inc. (SU) -7.49% to $30.90. Pacific Rubiales Energy Corp. (PRE) -7.16% to $5.19.
It was the first time crude has ended the week above $50 since last year as oil and other commodities have surged on hopes the Fed scheme will blunt the effects of the recession. Suncor Inc. (TSX:SU) moved down $2.50 to C$30.90 and Encana Corp. (TSX:ECA) fell $1.67 to $51.35.
The S&P/TSX Global Gold Index rose .15% as the April bullion contract in New York sank $2.60 to US$956.20 an ounce.
Keegan Resources Inc. (KGN) +5.12% to $2.67. International Minerals Corpora (IMZ) +5.23% to $3.42. European Goldfields Limited (EGU) +5.79% to $3.29.
NovaGold Resources Inc (NG) -7.79% to $2.96. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Greystar Resources Ltd. (GSL) -5.42% to $4.01.
Kinross Gold Corp. (TSX:K) is staking a claim in the diamond business by paying US$150 million for an indirect interest in the Diavik diamond mine in the Northwest Territories and a 20 per cent stake in Harry Winston Diamond Corp. (TSX:HW). Kinross shares edged 86 cents lower to C$22.28 while Harrry Winston shares soared 80 cents or 35 per cent to $3.08.
Roger Biduk;
The S&P/TSX Capped Information Technology Index lost .48% and the S&P/TSX Capped Telecom Services Index lost 1.56%.
Tundra Semiconductor Corporati (TUN) +46.58% to $4.50. DALSA Corporation (DSA) +10.59% to $4.70. Celestica Inc. (CLS) +7.08% to $3.78. AXIA NetMedia Corporation (AXX) +7.33% to $2.05.
The S&P/TSX Capped Health Care Index was lower by .86%.
Biovail Corporation (BVF) -5.01% to $13.84.
In the service sector:
Forzani Group Ltd. (The) (FGL) +6.41% to $9.63. CanWel Building Materials Inco (CWX.UN) +5.53% to $2.10.
Transcontinental Inc. (TCL.A) -9.19% to $5.63. WestJet Airlines Ltd. (WJA) -6.44% to $10.90.
Roger Biduk;
The S&P/TSX Capped Financial Index lost 1.87%.
Priszm Income Fund (QSR.UN) +17.65% to $2.00. Fairborne Energy Ltd. (FEL) +8.30% to $3.00. Uranium Participation Corporat (U) +6.00% to $6.89.
Brookfield Properties Corporat (BPO) -9.92% to $6.45. Sun Life Financial Inc. (SLF) -7.45% to $20.75. Primaris Retail Real Estate In (PMZ.UN) -7.12% to $8.35. Sentry Select Primary Metals C (PME) -6.82% to $4.10. Kingsway Financial Services In (KFS) -6.67% to $2.10.
The S&P/TSX Capped Utilities Index gained .63%.
Fortis Inc. (FTS) +6.58% to $23.48.
S&P/TSX Capped Industrial Index dropped 2.60%. Bombardier Inc. (BBD.A) -6.62% to $2.82. Newalta Inc. (NAL) -6.42% to $2.48. ATS Automation Tooling Systems (ATA) -5.36% to $3.71. Sino-Forest Corporation (TRE) -5.08% to $7.47.
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The Toronto stock market closed lower Friday as investors took profits from a solid, eight-day rally.
Toronto's S&P/TSX composite index fell 184.14 points to 8,506.35. But the main index is still up 935 points, or 12.4 per cent over the eight day runup that started Mar. 10, led by gains in financial stocks.
The TSX Venture Exchange headed down 1.77 points to 901.8.
The S&P/TSX Consumer Discretionary Index was 1.43% lower and the S&P/TSX Consumer Staples Index lost .44%.
ZCL Composites Inc. (ZCL) +6.99% to $4.90.
Fortress Paper Ltd. (FTP) -10.37% to $5.10. Gildan Activewear Inc. (GIL) -6.25% to $9.45.
However, some analysts questioned why the rally happened in the first place and held out minimal hope of the gains sticking.
S&P/TSX Capped Diversified Metals & Mining Index lost 4.11% as aluminum jumped 5.56%, copper dropped .64% and silver was 2.22% higher to $13.82.
Forsys Metals Corp. (FSY) +16.87% to $4.71. First Uranium Corporation (FIU) +16.18% to $6.39. Fronteer Development Group Inc (FRG) +8.47% to $3.20.
Inmet Mining Corporation (IMN) -8.14% to $33.65. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Quadra Mining Ltd. (QUA) -6.90% to $4.99. Gerdau AmeriSteel Corporation (GNA)
-5.19% to $3.84.
Roger Biduk;
The Canadian dollar was down 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion after declining 5.2% in December - their largest monthly decline in more than 15 years. Sales rose in five of eight retail sectors, led by a 3.8 per cent increase in the automotive sector.
The April crude contract on the New York Mercantile Exchange dropped .55% to $51.06 and natural gas rose 1.53% to $4.31 as the S&P/TSX Energy Index tanked 4.11%.
Cathedral Energy Services Inco (CET.UN) -8.39% to $2.95. Gran Tierra Energy Inc. (GTE)
-8.06% to $3.31. Addax Petroleum Corporation (AXC) -7.67% to $26.59. Suncor Energy Inc. (SU) -7.49% to $30.90. Pacific Rubiales Energy Corp. (PRE) -7.16% to $5.19.
It was the first time crude has ended the week above $50 since last year as oil and other commodities have surged on hopes the Fed scheme will blunt the effects of the recession. Suncor Inc. (TSX:SU) moved down $2.50 to C$30.90 and Encana Corp. (TSX:ECA) fell $1.67 to $51.35.
The S&P/TSX Global Gold Index rose .15% as the April bullion contract in New York sank $2.60 to US$956.20 an ounce.
Keegan Resources Inc. (KGN) +5.12% to $2.67. International Minerals Corpora (IMZ) +5.23% to $3.42. European Goldfields Limited (EGU) +5.79% to $3.29.
NovaGold Resources Inc (NG) -7.79% to $2.96. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Greystar Resources Ltd. (GSL) -5.42% to $4.01.
Kinross Gold Corp. (TSX:K) is staking a claim in the diamond business by paying US$150 million for an indirect interest in the Diavik diamond mine in the Northwest Territories and a 20 per cent stake in Harry Winston Diamond Corp. (TSX:HW). Kinross shares edged 86 cents lower to C$22.28 while Harrry Winston shares soared 80 cents or 35 per cent to $3.08.
Roger Biduk;
The S&P/TSX Capped Information Technology Index lost .48% and the S&P/TSX Capped Telecom Services Index lost 1.56%.
Tundra Semiconductor Corporati (TUN) +46.58% to $4.50. DALSA Corporation (DSA) +10.59% to $4.70. Celestica Inc. (CLS) +7.08% to $3.78. AXIA NetMedia Corporation (AXX) +7.33% to $2.05.
The S&P/TSX Capped Health Care Index was lower by .86%.
Biovail Corporation (BVF) -5.01% to $13.84.
In the service sector:
Forzani Group Ltd. (The) (FGL) +6.41% to $9.63. CanWel Building Materials Inco (CWX.UN) +5.53% to $2.10.
Transcontinental Inc. (TCL.A) -9.19% to $5.63. WestJet Airlines Ltd. (WJA) -6.44% to $10.90.
Roger Biduk;
The S&P/TSX Capped Financial Index lost 1.87%.
Priszm Income Fund (QSR.UN) +17.65% to $2.00. Fairborne Energy Ltd. (FEL) +8.30% to $3.00. Uranium Participation Corporat (U) +6.00% to $6.89.
Brookfield Properties Corporat (BPO) -9.92% to $6.45. Sun Life Financial Inc. (SLF) -7.45% to $20.75. Primaris Retail Real Estate In (PMZ.UN) -7.12% to $8.35. Sentry Select Primary Metals C (PME) -6.82% to $4.10. Kingsway Financial Services In (KFS) -6.67% to $2.10.
The S&P/TSX Capped Utilities Index gained .63%.
Fortis Inc. (FTS) +6.58% to $23.48.
S&P/TSX Capped Industrial Index dropped 2.60%. Bombardier Inc. (BBD.A) -6.62% to $2.82. Newalta Inc. (NAL) -6.42% to $2.48. ATS Automation Tooling Systems (ATA) -5.36% to $3.71. Sino-Forest Corporation (TRE) -5.08% to $7.47.
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Thursday, March 19, 2009
Roger Biduk; Bay Street Rises on Commodities for Eighth Session
Roger Biduk;
The Toronto stock market's March rally continued for an eighth session Thursday as commodity stocks took off following the latest moves by the U.S. Federal Reserve to break a logjam in lending and reduce borrowing rates.
Toronto's S&P/TSX composite index rose 61.39 points to 8,690.49, adding up to a surge of more than 1,100 points or 15 per cent since the rally was sparked last week by positive earnings news from the U.S. financial sector.
The TSX Venture Exchange was up 37.86 points to 903.57.
The Canadian dollar was well off early highs but still closed up 0.56 cent to 80.8 cents US on top of Wednesday's advance of almost one and a half cents US because of weakness in the American currency. The greenback fell after the Fed announced its plan, which includes buying up to US$300 billion in long-term government bonds during the next six months.
The S&P/TSX Consumer Discretionary Index was .68% lower and the S&P/TSX Consumer Staples Index lost 2.48%.
S&P/TSX Capped Diversified Metals & Mining Index soared 8.24% as aluminum jumped 5.56, copper rose 5.30% and silver was 13.28% higher to $13.52.
Forsys Metals Corp. (FSY) +23.62% to $4.03. First Uranium Corporation (FIU) +20.88% to $5.50.Teck Cominco Limited (TCK.B) +18.40% to $5.92. Quadra Mining Ltd. (QUA) +14.04% to $5.36. First Majestic Silver Corp. (FR) +12.78% to $2.03
Timminco Limited (TIM) -7.52% to $2.09. Consolidated Thompson Iron Min (CLM)
-5.35% to $2.30.
Roger Biduk;
Statistics Canada says Canada's annual inflation rate rose to 1.4 per cent in February from 1.1 per cent the previous month. This was the first increase in the cost of living in five months.
The S&P/TSX Capped Information Technology Index gained .05% and the S&P/TSX Capped Telecom Services Index lost 1.04%.
Bridgewater Systems Corporatio (BWC) -10.26% to $3.50. Gennum Corporation (GND) -6.63% to $3.52. Celestica Inc. (CLS) -5.11% to $3.53.
As the rally in Toronto continued, leadership switched from the financial sector, which surged 28% over seven sessions, to commodity stocks.
The S&P/TSX Capped Health Care Index was higher by .98%.
In the service sector:
Westshore Terminals Income Fund (WTE.UN) +9.30% to $9.40. Transat A.T. Inc (TRZ.B) +5.07% to $7.04.
Roger Biduk;
Hopes the Fed action will also blunt the effects of a global recession sent oil prices higher.
The April crude contract on the New York Mercantile Exchange soared 7.21% to $51.61 and natural gas jumped 12.82% to $4.24 as the S&P/TSX Energy Index gained 4.28%.
Trinidad Drilling Ltd. (TDG) +15.16% to $2.81. Cathedral Energy Services Inco (CET.UN) +14.18% to $3.22. Crew Energy Inc. (CR) +14.02% to $4.23. Trican Well Service Ltd. (TCW) +10.58% to $6.90. Vero Energy Inc. (VRO) +9.68% to $3.40.
The dramatic move by the U.S. central bank stoked worries about higher inflation and that helped send gold higher.
The S&P/TSX Global Gold Index rose 3.59% as the April bullion contract in New York soared $69.70 to US$958.80 an ounce.
US Gold Corporation (UXG) +18.62% to $2.93. Detour Gold Corporation (DGC) +17.23% to $10.82. Banro Corporation (BAA) +15.43% to $2.02. Keegan Resources Inc. (KGN) +13.39% to $2.54. Vista Gold Corp. (VGZ) +11.86% to $2.64.
The S&P/TSX Capped Financial Index lost 2.87%.
Birchcliff Energy Ltd. (BIR) +18.32% to $6.33. Claymore Natural Gas Commodity (GAS) +12.63% to $9.63. Sentry Select Primary Metals C (PME) +10.05% to $4.38. Precious Metals and Mining Tru (MMP.UN) +9.43% to $5.80. Canadian Helicopters Income Fu (CHL.UN) +9.02% to $7.25.
Premium Income Corporation (PIC.A) -16.67% to $2.50. Kingsway Financial Services In (KFS)
-10.00% to $2.25. Brookfield Properties Corporat (BPO) -8.79% to $7.16. Brookfield Asset Management In (BAM.A) -7.38% to $16.81. Power Financial Corporation (PWF) -6.62% to $18.33.
AbitibiBowater Inc. (TSX:ABH) shares plummeted 15 cents or 17.8 per cent to 69 cents Thursday after a report said U.S. banks were balking at a subsidiary's debt restructuring plan to avoid seeking bankruptcy protection.
The S&P/TSX Capped Utilities Index lost .92%.
S&P/TSX Capped Industrial Index dropped .86%.
Canfor Corporation (CFP) -6.64% to $4.50.
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http://bestcatanddognutrition.wordpress.com/
The Toronto stock market's March rally continued for an eighth session Thursday as commodity stocks took off following the latest moves by the U.S. Federal Reserve to break a logjam in lending and reduce borrowing rates.
Toronto's S&P/TSX composite index rose 61.39 points to 8,690.49, adding up to a surge of more than 1,100 points or 15 per cent since the rally was sparked last week by positive earnings news from the U.S. financial sector.
The TSX Venture Exchange was up 37.86 points to 903.57.
The Canadian dollar was well off early highs but still closed up 0.56 cent to 80.8 cents US on top of Wednesday's advance of almost one and a half cents US because of weakness in the American currency. The greenback fell after the Fed announced its plan, which includes buying up to US$300 billion in long-term government bonds during the next six months.
The S&P/TSX Consumer Discretionary Index was .68% lower and the S&P/TSX Consumer Staples Index lost 2.48%.
S&P/TSX Capped Diversified Metals & Mining Index soared 8.24% as aluminum jumped 5.56, copper rose 5.30% and silver was 13.28% higher to $13.52.
Forsys Metals Corp. (FSY) +23.62% to $4.03. First Uranium Corporation (FIU) +20.88% to $5.50.Teck Cominco Limited (TCK.B) +18.40% to $5.92. Quadra Mining Ltd. (QUA) +14.04% to $5.36. First Majestic Silver Corp. (FR) +12.78% to $2.03
Timminco Limited (TIM) -7.52% to $2.09. Consolidated Thompson Iron Min (CLM)
-5.35% to $2.30.
Roger Biduk;
Statistics Canada says Canada's annual inflation rate rose to 1.4 per cent in February from 1.1 per cent the previous month. This was the first increase in the cost of living in five months.
The S&P/TSX Capped Information Technology Index gained .05% and the S&P/TSX Capped Telecom Services Index lost 1.04%.
Bridgewater Systems Corporatio (BWC) -10.26% to $3.50. Gennum Corporation (GND) -6.63% to $3.52. Celestica Inc. (CLS) -5.11% to $3.53.
As the rally in Toronto continued, leadership switched from the financial sector, which surged 28% over seven sessions, to commodity stocks.
The S&P/TSX Capped Health Care Index was higher by .98%.
In the service sector:
Westshore Terminals Income Fund (WTE.UN) +9.30% to $9.40. Transat A.T. Inc (TRZ.B) +5.07% to $7.04.
Roger Biduk;
Hopes the Fed action will also blunt the effects of a global recession sent oil prices higher.
The April crude contract on the New York Mercantile Exchange soared 7.21% to $51.61 and natural gas jumped 12.82% to $4.24 as the S&P/TSX Energy Index gained 4.28%.
Trinidad Drilling Ltd. (TDG) +15.16% to $2.81. Cathedral Energy Services Inco (CET.UN) +14.18% to $3.22. Crew Energy Inc. (CR) +14.02% to $4.23. Trican Well Service Ltd. (TCW) +10.58% to $6.90. Vero Energy Inc. (VRO) +9.68% to $3.40.
The dramatic move by the U.S. central bank stoked worries about higher inflation and that helped send gold higher.
The S&P/TSX Global Gold Index rose 3.59% as the April bullion contract in New York soared $69.70 to US$958.80 an ounce.
US Gold Corporation (UXG) +18.62% to $2.93. Detour Gold Corporation (DGC) +17.23% to $10.82. Banro Corporation (BAA) +15.43% to $2.02. Keegan Resources Inc. (KGN) +13.39% to $2.54. Vista Gold Corp. (VGZ) +11.86% to $2.64.
The S&P/TSX Capped Financial Index lost 2.87%.
Birchcliff Energy Ltd. (BIR) +18.32% to $6.33. Claymore Natural Gas Commodity (GAS) +12.63% to $9.63. Sentry Select Primary Metals C (PME) +10.05% to $4.38. Precious Metals and Mining Tru (MMP.UN) +9.43% to $5.80. Canadian Helicopters Income Fu (CHL.UN) +9.02% to $7.25.
Premium Income Corporation (PIC.A) -16.67% to $2.50. Kingsway Financial Services In (KFS)
-10.00% to $2.25. Brookfield Properties Corporat (BPO) -8.79% to $7.16. Brookfield Asset Management In (BAM.A) -7.38% to $16.81. Power Financial Corporation (PWF) -6.62% to $18.33.
AbitibiBowater Inc. (TSX:ABH) shares plummeted 15 cents or 17.8 per cent to 69 cents Thursday after a report said U.S. banks were balking at a subsidiary's debt restructuring plan to avoid seeking bankruptcy protection.
The S&P/TSX Capped Utilities Index lost .92%.
S&P/TSX Capped Industrial Index dropped .86%.
Canfor Corporation (CFP) -6.64% to $4.50.
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http://www.rogerbiduk.blogspot.com/
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Wednesday, March 18, 2009
Roger Biduk; Seven in a Row for Bay Street
Roger Biduk;
Toronto's S&P/TSX composite index closed 69.5 points higher to 8,629.1, up for a seventh session in a row and rising 15 per cent during that time.
The TSX Venture Exchange was ahead 12.59 points to 865.71.
The CDN$ also turned positive, up 1.43 cents to 80.24 cents US as the American currency weakened following the Fed announcement. It surged as high as 80.45 cents US.
As I’ve been saying for the last two weeks, the bear market rally’s here and is being led by the financials.
ETF’s in the financial sector in Canada & the U.S. have gone through the roof.
If you’re unfortunately just sitting in mutual funds or are with an advisor that doesn’t (or can’t) trade your account up to several times a day you probably haven’t noticed much, especially if you’re not in the right industry sector.
It’s been an incredible, volatile market and a great trading market to make money. In many cases I’ve been trading the same stock or ETF several times a day in the same client accounts and the profits have been incredible.
It should be the same as the market soon becomes overbought and profit-taking comes in to drive the market lower. That’s the time to buy leveraged ETFs that soar as the markets tank.
The Toronto rally has been especially beneficial for the financial sector (as you know the only sector I’ve been recommending but others are starting to also look good), which has soared 29.4 per cent over the last seven sessions.
The S&P/TSX Capped Financial Index gained 1.23%.
Global Uranium Fund Inc. (GUR) +22.29% to $2.14. Homburg Invest Inc. (HII.B) +21.50% to $7.29. Global 45 Split Corp. (GFV) +15.20% to $2.88. Copernican World Banks Split I (CBW.PR.A) +14.34% to $2.95. US Financial 15 Split Corp. (FTU.PR.A) +13.67% to $3.41.
EnerVest Energy&Oil Sands Tota (EOS.UN) -9.77% to $3.51. Kingsway Financial Services In (KFS) -9.42% to $2.50. Alaris Royalty Corp. (AD) -9.09% to $4.50. Dividend Growth Split Corp. (DGS.PR.A) -8.98% to $8.01. Connor, Clark & Lunn Global Fi (GFT.UN) -7.09% to $3.93.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange lost 2.07% to $48.14 and natural gas sank 3.17% to $3.81 as the S&P/TSX Energy Index dropped 2.05%.
West Energy Ltd. (WTL) +10.70% to $2.38. North American Energy Partners (NOA) +10.53% to $3.15. Pacific Rubiales Energy Corp. (PRE) +7.65% to $5.49. Crew Energy Inc. (CR) +6.92% to $3.71. Addax Petroleum Corporation (AXC) +6.43% to $27.64.
Verenex Energy Inc. (VNX) -9.87% to $8.40. Calfrac Well Services Ltd. (CFW) -6.41% to $6.57. Suncor Energy Inc. (SU) -6.17% to $31.20.
Libya's National Oil Company says it will buy Canada's Verenex Energy Inc., (TSX:VNX), matching a US$394-million dollar bid by a subsidiary of the China National Petroleum Corp, although the Calgary company says it hasn't been able to confirm the report. Verenex has operations in Libya's Area-47, a region estimated to hold roughly 2.15 billion barrels in crude oil reserves. Its shares dropped 92 cents to C$8.40.
The S&P/TSX Global Gold Index soared 8.91% even though the April bullion contract in New York tanked $27.70 to US$889.10 an ounce.
Allied Nevada Gold Corp. (ANV) +16.00% to $6.09. US Gold Corporation (UXG) +15.96% to $2.47. Vista Gold Corp. (VGZ) +14.85% to $2.32. Kinross Gold Corporation (K.WT.B) +12.32% to $3.10. Minefinders Corporation Ltd. (MFL.WT) +11.76% to $4.750.
Silver Wheaton Corp. (SLW) +11.29% to $8.97. Red Back Mining Inc. (RBI) +9.95% to $7.18. Pan American Silver Corp. (PAA) +8.21% to $19.63. Forsys Metals Corp. (FSY) +6.89% to $3.26.
Quadra Mining Ltd. (QUA) -5.43% to $4.70.
Allied Nevada Gold Corp. (TSX:ANV), which is working to get the Hycroft project into commercial production, says its annual net loss increased last year to US$79.6 million, up from $11.3 million in 2007. The company reported no revenues for last year or the prior year and its shares rose 84 cents at $6.09.
Roger Biduk;
The S&P/TSX Capped Utilities Index gained .58%.
The S&P/TSX Consumer Discretionary Index was 1.75% higher and the S&P/TSX Consumer Staples Index gained 1.07%.
ZCL Composites Inc. (ZCL) +11.99% to $4.95. Gildan Activewear Inc. (GIL) +5.85% to $9.95.
Linamar Corporation (LNR) -8.70% to $2.10.
In Canadian economic news, wholesale sales declined 4.2 per cent to $41.1 billion in January. Statistics Canada said the drop was due largely to lower activity in the automotive products sector.
S&P/TSX Capped Diversified Metals & Mining Index was lower by .13% as aluminum gained .80%, copper dropped .44% and silver was 5.80% lower to $11.94.
Shares in Timminco Ltd. (TSX:TIM) slipped nine cents to $2.26 after it said Tuesday it will temporarily cut jobs and reduced production of silicon due to difficult market conditions and reduced demand.
S&P/TSX Capped Industrial Index rose .63%.
The S&P/TSX Capped Health Care Index was lower by 2.79%.
In the service sector:
Altus Group Income Fund (AIF.UN) +14.16% to $6.45. Mullen Group Income Fund (MTL.UN) +8.31% to $10.82. Transcontinental Inc. (TCL.A) +6.38% to $6.50. Empire Company Ltd. (EMP.A) +5.34% to $53.09. MacDonald, Dettwiler and Assoc (MDA) +5.05% to $23.32.
The S&P/TSX Capped Information Technology Index gained 1.29% and the S&P/TSX Capped Telecom Services Index lost .29%.
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www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com
Toronto's S&P/TSX composite index closed 69.5 points higher to 8,629.1, up for a seventh session in a row and rising 15 per cent during that time.
The TSX Venture Exchange was ahead 12.59 points to 865.71.
The CDN$ also turned positive, up 1.43 cents to 80.24 cents US as the American currency weakened following the Fed announcement. It surged as high as 80.45 cents US.
As I’ve been saying for the last two weeks, the bear market rally’s here and is being led by the financials.
ETF’s in the financial sector in Canada & the U.S. have gone through the roof.
If you’re unfortunately just sitting in mutual funds or are with an advisor that doesn’t (or can’t) trade your account up to several times a day you probably haven’t noticed much, especially if you’re not in the right industry sector.
It’s been an incredible, volatile market and a great trading market to make money. In many cases I’ve been trading the same stock or ETF several times a day in the same client accounts and the profits have been incredible.
It should be the same as the market soon becomes overbought and profit-taking comes in to drive the market lower. That’s the time to buy leveraged ETFs that soar as the markets tank.
The Toronto rally has been especially beneficial for the financial sector (as you know the only sector I’ve been recommending but others are starting to also look good), which has soared 29.4 per cent over the last seven sessions.
The S&P/TSX Capped Financial Index gained 1.23%.
Global Uranium Fund Inc. (GUR) +22.29% to $2.14. Homburg Invest Inc. (HII.B) +21.50% to $7.29. Global 45 Split Corp. (GFV) +15.20% to $2.88. Copernican World Banks Split I (CBW.PR.A) +14.34% to $2.95. US Financial 15 Split Corp. (FTU.PR.A) +13.67% to $3.41.
EnerVest Energy&Oil Sands Tota (EOS.UN) -9.77% to $3.51. Kingsway Financial Services In (KFS) -9.42% to $2.50. Alaris Royalty Corp. (AD) -9.09% to $4.50. Dividend Growth Split Corp. (DGS.PR.A) -8.98% to $8.01. Connor, Clark & Lunn Global Fi (GFT.UN) -7.09% to $3.93.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange lost 2.07% to $48.14 and natural gas sank 3.17% to $3.81 as the S&P/TSX Energy Index dropped 2.05%.
West Energy Ltd. (WTL) +10.70% to $2.38. North American Energy Partners (NOA) +10.53% to $3.15. Pacific Rubiales Energy Corp. (PRE) +7.65% to $5.49. Crew Energy Inc. (CR) +6.92% to $3.71. Addax Petroleum Corporation (AXC) +6.43% to $27.64.
Verenex Energy Inc. (VNX) -9.87% to $8.40. Calfrac Well Services Ltd. (CFW) -6.41% to $6.57. Suncor Energy Inc. (SU) -6.17% to $31.20.
Libya's National Oil Company says it will buy Canada's Verenex Energy Inc., (TSX:VNX), matching a US$394-million dollar bid by a subsidiary of the China National Petroleum Corp, although the Calgary company says it hasn't been able to confirm the report. Verenex has operations in Libya's Area-47, a region estimated to hold roughly 2.15 billion barrels in crude oil reserves. Its shares dropped 92 cents to C$8.40.
The S&P/TSX Global Gold Index soared 8.91% even though the April bullion contract in New York tanked $27.70 to US$889.10 an ounce.
Allied Nevada Gold Corp. (ANV) +16.00% to $6.09. US Gold Corporation (UXG) +15.96% to $2.47. Vista Gold Corp. (VGZ) +14.85% to $2.32. Kinross Gold Corporation (K.WT.B) +12.32% to $3.10. Minefinders Corporation Ltd. (MFL.WT) +11.76% to $4.750.
Silver Wheaton Corp. (SLW) +11.29% to $8.97. Red Back Mining Inc. (RBI) +9.95% to $7.18. Pan American Silver Corp. (PAA) +8.21% to $19.63. Forsys Metals Corp. (FSY) +6.89% to $3.26.
Quadra Mining Ltd. (QUA) -5.43% to $4.70.
Allied Nevada Gold Corp. (TSX:ANV), which is working to get the Hycroft project into commercial production, says its annual net loss increased last year to US$79.6 million, up from $11.3 million in 2007. The company reported no revenues for last year or the prior year and its shares rose 84 cents at $6.09.
Roger Biduk;
The S&P/TSX Capped Utilities Index gained .58%.
The S&P/TSX Consumer Discretionary Index was 1.75% higher and the S&P/TSX Consumer Staples Index gained 1.07%.
ZCL Composites Inc. (ZCL) +11.99% to $4.95. Gildan Activewear Inc. (GIL) +5.85% to $9.95.
Linamar Corporation (LNR) -8.70% to $2.10.
In Canadian economic news, wholesale sales declined 4.2 per cent to $41.1 billion in January. Statistics Canada said the drop was due largely to lower activity in the automotive products sector.
S&P/TSX Capped Diversified Metals & Mining Index was lower by .13% as aluminum gained .80%, copper dropped .44% and silver was 5.80% lower to $11.94.
Shares in Timminco Ltd. (TSX:TIM) slipped nine cents to $2.26 after it said Tuesday it will temporarily cut jobs and reduced production of silicon due to difficult market conditions and reduced demand.
S&P/TSX Capped Industrial Index rose .63%.
The S&P/TSX Capped Health Care Index was lower by 2.79%.
In the service sector:
Altus Group Income Fund (AIF.UN) +14.16% to $6.45. Mullen Group Income Fund (MTL.UN) +8.31% to $10.82. Transcontinental Inc. (TCL.A) +6.38% to $6.50. Empire Company Ltd. (EMP.A) +5.34% to $53.09. MacDonald, Dettwiler and Assoc (MDA) +5.05% to $23.32.
The S&P/TSX Capped Information Technology Index gained 1.29% and the S&P/TSX Capped Telecom Services Index lost .29%.
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www.rogerbiduk.blogspot.com
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Tuesday, March 17, 2009
Roger Biduk; Financials Lead Bay Street Higher Again
Roger Biduk;
I wrote last week about the financial sector being oversold and should lead a bear-market rally much higher.
Well, congratulations to my clients for storming into the sector, buying ETFs that brought back returns over the last week that people usually only dream of.
The Toronto stock market roared ahead to a sixth consecutive session of solid gains as investors continued to snap up financial stocks while the energy sector also made a big contribution as crude approached the US$50 a barrel level.
Toronto's S&P/TSX composite index closed up 172.89 points to 8,559.6, adding up to a 13 per cent surge over six days. The financial sector is up more than 28 per cent over that time.
The TSX Venture Exchange advanced 5.8 points to 853.12.
The Canadian dollar climbed 0.29 cent to 78.81 cents U.S. amid data showing manufacturing sales fell during January to the lowest level in almost 10 years, reflecting continued deterioration in the auto industry.
Roger Biduk;
Statistics Canada said sales dropped 5.4 per cent to $41.7 billion as motor vehicle and motor vehicle parts industries, particularly in Ontario, reported record decreases during the month.
Excluding motor vehicles and parts and accessories, manufacturing sales decreased a more moderate 1.2 per cent compared with December.
The S&P/TSX Capped Financial Index gained 2.42%
DiversiTrust Energy Income Fun (DTN.UN) +15.97% to $3.05. Home Capital Group Inc. (HCG) +10.96% to $23.79. Canadian Oil Sands Trust (COS.UN) +9.36% to $25.93. ARC Energy Trust (AET.UN) +9.11% to $14.37. Baytex Energy Trust (BTE.UN) +8.81% to $14.69.
Canadian Real Estate Investmen (REF.UN) -7.74% to $20.15.
S&P/TSX Capped Diversified Metals & Mining Index higher by .81% as aluminum was flat, copper dropped 1.32% and silver was 1.71% lower to $12.67.
Sherritt International Corpora (S) +17.84% to $2.51. Quadra Mining Ltd. (QUA) +11.69% to $4.97.
Forsys Metals Corp. (FSY) -14.57% to $3.05. Timminco Limited (TIM) -8.56% to $2.35. Red Back Mining Inc. (RBI) -5.09% to $6.53.
Roger Biduk;
S&P/TSX Capped Industrial Index rose .53%.
ATS Automation Tooling Systems (ATA) +6.99% to $3.98.
Newalta Inc. (NAL) -6.93% to $2.82.
The S&P/TSX Capped Utilities Index gained 1.58%.
The April crude contract on the New York Mercantile Exchange gained 3.82% to $49.16 and natural gas lost .99% to $3.81 as the S&P/TSX Energy Index jumped 4.07%.
Oil was higher even after OPEC decided during the weekend not to cut production to support prices.
Breaker Energy Ltd. (WAV) +13.17% to $2.75. Eveready Inc. (EIS) +12.45% to $2.62. Trinidad Drilling Ltd. (TDG) +7.96% to $2.44. Crew Energy Inc. (CR) +7.10% to $3.47. Bonavista Energy Trust (BNP.UN) +6.35% to $15.40.
The S&P/TSX Global Gold Index lost 1.82% as the April bullion contract in New York dropped $5.20 to US$916.80 an ounce.
Gabriel Resources Ltd. (GBU) +7.87% to $2.88. Queenston Mining Inc. (QMI) +5.73% to $3.69.
Kirkland Lake Gold Inc. (KGI) -7.29% to $5.72. NovaGold Resources Inc (NG) -5.56% to $2.89.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 1.32% higher and the S&P/TSX Consumer Staples Index lost .39%.
The S&P/TSX Capped Health Care Index was higher by .55%.
Cangene Corporation (CNJ) +8.46% to $4.36.
In the service sector:
Tri-White Corporation (TWH) +10.53% to $5.25. Mullen Group Income Fund (MTL.UN) +9.78% to $9.99. Sears Canada Inc. (SCC) +6.86% to $19.46. Trimac Income Fund (TMA.UN) +6.67% to $2.40.
The S&P/TSX Capped Information Technology Index gained 1.69% and the S&P/TSX Capped Telecom Services Index was 1.84% higher.
Research in Motion Limited (RIM) +6.43% to $52.99.
5N Plus Inc. (VNP) -6.73% to $4.85.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com
I wrote last week about the financial sector being oversold and should lead a bear-market rally much higher.
Well, congratulations to my clients for storming into the sector, buying ETFs that brought back returns over the last week that people usually only dream of.
The Toronto stock market roared ahead to a sixth consecutive session of solid gains as investors continued to snap up financial stocks while the energy sector also made a big contribution as crude approached the US$50 a barrel level.
Toronto's S&P/TSX composite index closed up 172.89 points to 8,559.6, adding up to a 13 per cent surge over six days. The financial sector is up more than 28 per cent over that time.
The TSX Venture Exchange advanced 5.8 points to 853.12.
The Canadian dollar climbed 0.29 cent to 78.81 cents U.S. amid data showing manufacturing sales fell during January to the lowest level in almost 10 years, reflecting continued deterioration in the auto industry.
Roger Biduk;
Statistics Canada said sales dropped 5.4 per cent to $41.7 billion as motor vehicle and motor vehicle parts industries, particularly in Ontario, reported record decreases during the month.
Excluding motor vehicles and parts and accessories, manufacturing sales decreased a more moderate 1.2 per cent compared with December.
The S&P/TSX Capped Financial Index gained 2.42%
DiversiTrust Energy Income Fun (DTN.UN) +15.97% to $3.05. Home Capital Group Inc. (HCG) +10.96% to $23.79. Canadian Oil Sands Trust (COS.UN) +9.36% to $25.93. ARC Energy Trust (AET.UN) +9.11% to $14.37. Baytex Energy Trust (BTE.UN) +8.81% to $14.69.
Canadian Real Estate Investmen (REF.UN) -7.74% to $20.15.
S&P/TSX Capped Diversified Metals & Mining Index higher by .81% as aluminum was flat, copper dropped 1.32% and silver was 1.71% lower to $12.67.
Sherritt International Corpora (S) +17.84% to $2.51. Quadra Mining Ltd. (QUA) +11.69% to $4.97.
Forsys Metals Corp. (FSY) -14.57% to $3.05. Timminco Limited (TIM) -8.56% to $2.35. Red Back Mining Inc. (RBI) -5.09% to $6.53.
Roger Biduk;
S&P/TSX Capped Industrial Index rose .53%.
ATS Automation Tooling Systems (ATA) +6.99% to $3.98.
Newalta Inc. (NAL) -6.93% to $2.82.
The S&P/TSX Capped Utilities Index gained 1.58%.
The April crude contract on the New York Mercantile Exchange gained 3.82% to $49.16 and natural gas lost .99% to $3.81 as the S&P/TSX Energy Index jumped 4.07%.
Oil was higher even after OPEC decided during the weekend not to cut production to support prices.
Breaker Energy Ltd. (WAV) +13.17% to $2.75. Eveready Inc. (EIS) +12.45% to $2.62. Trinidad Drilling Ltd. (TDG) +7.96% to $2.44. Crew Energy Inc. (CR) +7.10% to $3.47. Bonavista Energy Trust (BNP.UN) +6.35% to $15.40.
The S&P/TSX Global Gold Index lost 1.82% as the April bullion contract in New York dropped $5.20 to US$916.80 an ounce.
Gabriel Resources Ltd. (GBU) +7.87% to $2.88. Queenston Mining Inc. (QMI) +5.73% to $3.69.
Kirkland Lake Gold Inc. (KGI) -7.29% to $5.72. NovaGold Resources Inc (NG) -5.56% to $2.89.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 1.32% higher and the S&P/TSX Consumer Staples Index lost .39%.
The S&P/TSX Capped Health Care Index was higher by .55%.
Cangene Corporation (CNJ) +8.46% to $4.36.
In the service sector:
Tri-White Corporation (TWH) +10.53% to $5.25. Mullen Group Income Fund (MTL.UN) +9.78% to $9.99. Sears Canada Inc. (SCC) +6.86% to $19.46. Trimac Income Fund (TMA.UN) +6.67% to $2.40.
The S&P/TSX Capped Information Technology Index gained 1.69% and the S&P/TSX Capped Telecom Services Index was 1.84% higher.
Research in Motion Limited (RIM) +6.43% to $52.99.
5N Plus Inc. (VNP) -6.73% to $4.85.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com
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