Roger Biduk
Stock markets surrendered big gains and put in a weak close Thursday after U.S. President Barack Obama confirmed that Chrysler LLC is going into Chapter 11 bankruptcy protection.
While the move wasn't a surprise, it did undermine optimism that the recession is nearing a bottom.
By the way, if any of you think this recession is at the bottom like many rah-rah analysts on television on CNBC, I think you and your portfolios are in for a big surprise (refer to my email I sent in the wee hours on Apr. 27).
The S&P/TSX Capped Financial Index fell 0.51%.
Algonquin Power Income Fund (APF.UN) +7.69% to $3.08. Melcor Developments Ltd. (MRD) +7.95% to $5.70.
Jovian Cap Corp (JOV) -13.33% to $6.50. Canadian Oil Sands Trust (COS.UN -6.31% to $24.64. RioCan Real Estate Investment (REI.UN) -5.26% to $$13.68.
Markets had been trying to factor in the likelihood of a Chrysler insolvency but "once investors become face-to-face with that reality, they have a different reaction," commented Jack Ablin, chief investment officer at Harris Private Bank in New York.
Just wait till GM goes belly-up next month!
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index rose 1.98% as aluminum rose 1.52%, copper was 2.12% higher at $2.05 and silver dropped 3.52% to $12.33.
Thompson Creek Metals Company (TCM.WT) +8.26% to $2.49. First Quantum Minerals Ltd. (FM) +6.68% to $46.15. Gerdau AmeriSteel Corporation (GNA) +6.26% to $6.28. Capstone Mining Corp. (CS) +5.82% to $2.00.
Uranium One Inc. (UUU) -7.04% to $3.30. Silvercorp Metals Inc.(SVM) -6.10% to $2.77. Red Back Mining Inc.(RBI) -5.28% to $8.26.
Toronto's S&P/TSX composite index came down from a 152-point surge and ended the day with a loss of 91.48 points at 9,324.83.
The TSX Venture Exchange was down 4.99 points to 1,008.98.
The April crude contract on the New York Mercantile Exchange rose 0.30% to $50.96 and natural gas fell 0.88% to $3.38 as the S&P/TSX Energy Index fell 1.59%.
Orleans Energy Ltd. (OEX) +13.83% to $2.14.
Calfrac Well Services Ltd. (CFW) -5.14% to $9.60. Peyto Energy Trust (PEY.UN) -5.23% to $9.06.
The Canadian dollar moved up 0.69 cent to 83.82 cents US after Statistics Canada said the economy shrank 0.1 per cent in February - much less painful than the 0.7 per cent slide in January and better than the 0.2 per cent contraction economists were projecting.
Roger Biduk
The S&P/TSX Capped Telecom Services Index was 1.23% lower and the S&P/TSX Capped Information Technology Index rose 0.56%.
Torstar Corporation (TS.B) -5.46% to $5.02.
SXC Health Solutions Corp. (SXC) +9.31% to $23.72. 5N Plus Inc. (VNP) +8.69% to $6.38. DragonWave Inc. (DWI) +5.65% to $2.62.
Stats Canada also noted that economic activity has declined 2.4 per cent since October,
Following an incredibly intense three-month plunge in Canadian output from November to January, the mild February decline seems like a relief, a version of “been down so long, it feels like up” to the economy.
In the Service sector:
Clarke Inc. (CKI) +13.27% 2.39. Resolve Business Outsourcing I (RBO.UN) +10.64% to $2.60. Cossette Inc. (KOS) +10.45% to $3.17.
Data Group Income Fund (The) (DGI.UN) -10.22% to $3.60. TMX Group Inc. (X) -5.87% to $32.09.
The Chrysler developments - including major planned production suspensions - hit already knocked-down auto parts makers.
Magna International (TSX:MG.A) fell 3.2 per cent, Linamar (TSX:LNR) dropped 4.2 per cent and Wescast Industries (TSX:WCS) plunged 19 per cent, losing 21 cents to 90 cents.
Roger Biduk
The S&P/TSX Capped Utilities Index rose 0.29%.
EPCOR Power L.P. (EP.UN) -5.18% to $11.89.
Canadian Oil Sands Trust (TSX:COS.UN) units were down $1.66 at $24.64 after its quarterly earnings came in at $43 million, down from $298 million a year ago.
The S&P/TSX Capped Industrials Index was down 1.59%.
Strongco Income Fund (SQP.UN) +51.52% to $2.50. Ballard Power Systems Inc. (BLD) +7.46% to $2.45. Bombardier Inc. (BBD.B) +7.39% to $3.78.
JDS Uniphase Canada Ltd. (JDU) -14.70% to $5.63. GLV Inc. (GLV.A) -6.74% to $5.81.
ExxonMobil Corp.'s first-quarter profit fell 58 per cent from a year ago to US$4.6 billion as the world's biggest publicly traded oil company, like the rest of the industry, saw crude and gas prices fall precipitously. Its shares were down $1.77 to US$66.67.
The S&P/TSX Capped Health Care Index was higher by 0.6883%.
Noveko International Inc. (EKO) +5.38% to $2.74.
Exxon’s Canadian subsidiary, Imperial Oil Ltd. (TSX:IMO), reported its profit plunged to $289 million from $681 million, and its shares moved 35 cents lower to $42.65 in Toronto.
Roger Biduk
The S&P/TSX Global Gold Index fell 4.06% as the April bullion contract in New York sank $9.30 to US$891.20 an ounce.
First Quantum Minerals Ltd. (FM) +6.68% to $46.15.
Laramide Resources Ltd. (LAM) -10.83% to $2.14. Centerra Gold Inc. (CG) -8.53% to $6.65. Greystar Resources Ltd. (GSL) -6.18% to $4.10. Allied Nevada Gold Corp. (ANV) -5.73% to $6.42. Premier Gold Mines Limited (PG) -5.46% to $2.25.
Teck Resources Ltd. (TSX:TCK.B) gained 52 cents to $12.53 after finalizing a deal to sell its 40 per cent stake in Alaska's Pogo gold property for US$245 million.
Denison Mines Corp. (TSX:DML) rose 23 cents or 11.5 per cent to $2.24 after CEO Peter Farmer predicted the uranium price will heat back up to US$60 or $70 a pound over the next year on increasing demand and dwindling supply.
The S&P/TSX Consumer Discretionary Index was 0.92% lower and the S&P/TSX Consumer Staples Index fell 0.78%.
Domtar Corporation (UFS) +16.85% to $2.15. Domtar (Canada) Paper Inc. (UFX) +13.66% to $2.08.
CCL Industries Inc. (CCL.B) -5.15% to $23.01.
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Thursday, April 30, 2009
Wednesday, April 29, 2009
Roger Biduk; Bay Street Higher on U.S. Hopes
Roger Biduk
Markets finished with gains Wednesday following two days of declines, as hope strengthened that the American recession is moderating.
The S&P/TSX Capped Financial Index rose 0.71%.
Pinetree Capital Ltd. (PNP) +29.49% to $2.02. Global Uranium Fund Inc. (GUR) +17.70% to $2.86. Kingsway Financial Services In (KFS) +11.43% to $2.73. Sun Gro Horticulture Income Fu (GRO.UN) +10.79% to $2.67. Uranium Focused Energy Fund (UF.UN) +9.58% to $3.66.
Resverlogix Corp. (RVX) -6.43% to $2.62.
Toronto's S&P/TSX composite index eased back from triple-digit gains to close ahead 68.28 points at 9,416.31.
The TSX Venture Exchange advanced 20.87 to 1,013.97 while weakness in the greenback sent the Canadian dollar ahead 1.20 cents to 83.13 cents US.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index rose 5.50% as aluminum rose 1.52%, copper was 4.62% higher at $2.01 and silver rose 2.81% to $12.78.
Inmet Mining Corporation (IMN) +11.63% to $40.97. Gerdau AmeriSteel Corporation (GNA) +8.84% to $5.91. Mega Uranium Ltd. (MGA) +8.25% to 2.23. Thompson Creek Metals Company (TCM.WT) +6.98% to $2.30.
On the earnings front, Rogers Communications Inc. shares (TSX:RCI.B) were down 35 cents to $29.24 after weak advertising sales in its media division cut into first-quarter profit. Canada's biggest cable-TV and cellphone network operator earned $309 million for the quarter, down 10 per cent from a year-earlier.
The April crude contract on the New York Mercantile Exchange rose 2.11% to $50.92 and natural gas fell 1.09% to $3.35 as the S&P/TSX Energy Index rose 1.77%.
Oil prices rose even as the U.S. Energy Information Administration said crude inventories rose by 4.1 million barrels last week, far higher than the expected boost of 1.8 million.
Eveready Inc. (EIS) +199.71% to $10.40. OPTI Canada Inc. (OPC) +11.11% to $2.00. Flint Energy Services Ltd. (FES) +9.81% to $6.94. Calfrac Well Services Ltd. (CFW) +7.20% to $10.12. Talisman Energy Inc. (TLM) +6.97% to $15.35.
Cathedral Energy Services Inco (CET.UN) -5.78% to $4.24.
Roger Biduk
Maple Leaf Foods Inc. (TSX:MFI) rose 15 cents to $8.60 after a first-quarter profit of $2.9 million, boosted by higher prices in its Canada Bread subsidiary. Margins are still shaky in packaged meat as recovery from last summer's tainted meat recall continues, but Maple Leaf's sales were up 6.3 per cent to $1.3 billion.
The S&P/TSX Capped Telecom Services Index was 1.07% lower and the S&P/TSX Capped Information Technology Index fell 0.96%.
Evertz Technologies Limited (ET) +9.97% to $16.32. March Networks Corporation (MN) +5.57% to $3.79.
SXC Health Solutions Corp. (SXC) -9.47% to $21.70. Vecima Networks Inc. (VCM) -15.83% to $4.20.
Sherritt International Corp. (TSX:S) posted a first-quarter loss of $42.9 million, reversing a year-ago profit of $89 million, after a $57.4 million loss on the sale of oil and gas assets. Revenue increased to $349 million from $314.2 million and Sherritt stock inched up two cents to $4.95.
Roger Biduk
In the Service sector:
Tri-White Corporation (TWH) +8.15% to $6.50. Mullen Group Income Fund (MTL.UN) +7.82% to $12.00. Trimac Income Fund (TMA.UN) +6.84% to $2.81. Great Canadian Gaming Corporat (GC) +6.29% to $3.720.
TMX Group Inc. (X) -10.17% to $34.09.
Western Canadian Coal Corp. (TSX:WTN) rose another 48 per cent to $1.42, after a 23 per cent gain Tuesday on word of new sales contracts. It's still down from $10.99 last June.
The S&P/TSX Consumer Discretionary Index was 0.11% higher and the S&P/TSX Consumer Staples Index fell 1.22%.
Supremex Income Fund (SXP.UN) +9.13% to $2.51. CCL Industries Inc. (CCL.B) +7.63% to $24.26.
Canfor Pulp Income Fund (CFX.UN) -6.00% to $2.35.
Roger Biduk
Talisman Energy Inc. (TSX:TLM) reported net income of $455 million for the quarter ended March 31, a two per cent decrease from a year ago. Its shares moved up $1 to $15.35.
The S&P/TSX Global Gold Index fell 0.41% as the April bullion contract in New York rose $6.90 to US$900.50 an ounce.
Premier Gold Mines Limited (PG) +14.98% to $2.38. Laramide Resources Ltd. (LAM) +11.11% to $2.40. Gabriel Resources Ltd. (GBU) +5.99% to $2.30. First Quantum Minerals Ltd. (FM) +5.90% to $43.26. Aquiline Resources Inc. (AQI) +5.83% to $2.36.
US Gold Corporation (UXG) -5.86% to $2.41.
Eveready Inc. (TSX:EIS) soared $6.93 or 200 per cent to $10.40 after a $464-million deal to be acquired by Clean Harbors Inc. (NYSE:CLH), North America's biggest handler of hazardous waste. The cash-and-stock arrangement values the Edmonton-based energy services company at $11 per share.
Roger Biduk
The S&P/TSX Capped Health Care Index was lower by 0.68%.
Noveko International Inc. (EKO) -9.41% to $2.60.
Atrium Innovations Inc. (ATB) +6.25% to $13.94.
The S&P/TSX Capped Industrials Index was up 0.77%.
ADF Group Inc. (DRX) +13.02% 2.43. Canam Group Inc. Groupe Canam (CAM) +8.20% 6.86. Newalta Inc. (NAL) +7.06% 4.55. International Forest Products (IFP.A) +6.99% to $2.45. TimberWest Forest Corp. (TWF.UN) +5.83% to $3.45.
Barrick Gold Corp. (TSX:ABX) was five cents higher at $35.65 after a first-quarter profit of US$371 million, down from $514 million as the world's largest gold producer saw lower realized prices and higher costs.
The S&P/TSX Capped Utilities Index rose 1.79%.
EPCOR Power L.P. (EP.UN) -6.21% to $12.54.
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Markets finished with gains Wednesday following two days of declines, as hope strengthened that the American recession is moderating.
The S&P/TSX Capped Financial Index rose 0.71%.
Pinetree Capital Ltd. (PNP) +29.49% to $2.02. Global Uranium Fund Inc. (GUR) +17.70% to $2.86. Kingsway Financial Services In (KFS) +11.43% to $2.73. Sun Gro Horticulture Income Fu (GRO.UN) +10.79% to $2.67. Uranium Focused Energy Fund (UF.UN) +9.58% to $3.66.
Resverlogix Corp. (RVX) -6.43% to $2.62.
Toronto's S&P/TSX composite index eased back from triple-digit gains to close ahead 68.28 points at 9,416.31.
The TSX Venture Exchange advanced 20.87 to 1,013.97 while weakness in the greenback sent the Canadian dollar ahead 1.20 cents to 83.13 cents US.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index rose 5.50% as aluminum rose 1.52%, copper was 4.62% higher at $2.01 and silver rose 2.81% to $12.78.
Inmet Mining Corporation (IMN) +11.63% to $40.97. Gerdau AmeriSteel Corporation (GNA) +8.84% to $5.91. Mega Uranium Ltd. (MGA) +8.25% to 2.23. Thompson Creek Metals Company (TCM.WT) +6.98% to $2.30.
On the earnings front, Rogers Communications Inc. shares (TSX:RCI.B) were down 35 cents to $29.24 after weak advertising sales in its media division cut into first-quarter profit. Canada's biggest cable-TV and cellphone network operator earned $309 million for the quarter, down 10 per cent from a year-earlier.
The April crude contract on the New York Mercantile Exchange rose 2.11% to $50.92 and natural gas fell 1.09% to $3.35 as the S&P/TSX Energy Index rose 1.77%.
Oil prices rose even as the U.S. Energy Information Administration said crude inventories rose by 4.1 million barrels last week, far higher than the expected boost of 1.8 million.
Eveready Inc. (EIS) +199.71% to $10.40. OPTI Canada Inc. (OPC) +11.11% to $2.00. Flint Energy Services Ltd. (FES) +9.81% to $6.94. Calfrac Well Services Ltd. (CFW) +7.20% to $10.12. Talisman Energy Inc. (TLM) +6.97% to $15.35.
Cathedral Energy Services Inco (CET.UN) -5.78% to $4.24.
Roger Biduk
Maple Leaf Foods Inc. (TSX:MFI) rose 15 cents to $8.60 after a first-quarter profit of $2.9 million, boosted by higher prices in its Canada Bread subsidiary. Margins are still shaky in packaged meat as recovery from last summer's tainted meat recall continues, but Maple Leaf's sales were up 6.3 per cent to $1.3 billion.
The S&P/TSX Capped Telecom Services Index was 1.07% lower and the S&P/TSX Capped Information Technology Index fell 0.96%.
Evertz Technologies Limited (ET) +9.97% to $16.32. March Networks Corporation (MN) +5.57% to $3.79.
SXC Health Solutions Corp. (SXC) -9.47% to $21.70. Vecima Networks Inc. (VCM) -15.83% to $4.20.
Sherritt International Corp. (TSX:S) posted a first-quarter loss of $42.9 million, reversing a year-ago profit of $89 million, after a $57.4 million loss on the sale of oil and gas assets. Revenue increased to $349 million from $314.2 million and Sherritt stock inched up two cents to $4.95.
Roger Biduk
In the Service sector:
Tri-White Corporation (TWH) +8.15% to $6.50. Mullen Group Income Fund (MTL.UN) +7.82% to $12.00. Trimac Income Fund (TMA.UN) +6.84% to $2.81. Great Canadian Gaming Corporat (GC) +6.29% to $3.720.
TMX Group Inc. (X) -10.17% to $34.09.
Western Canadian Coal Corp. (TSX:WTN) rose another 48 per cent to $1.42, after a 23 per cent gain Tuesday on word of new sales contracts. It's still down from $10.99 last June.
The S&P/TSX Consumer Discretionary Index was 0.11% higher and the S&P/TSX Consumer Staples Index fell 1.22%.
Supremex Income Fund (SXP.UN) +9.13% to $2.51. CCL Industries Inc. (CCL.B) +7.63% to $24.26.
Canfor Pulp Income Fund (CFX.UN) -6.00% to $2.35.
Roger Biduk
Talisman Energy Inc. (TSX:TLM) reported net income of $455 million for the quarter ended March 31, a two per cent decrease from a year ago. Its shares moved up $1 to $15.35.
The S&P/TSX Global Gold Index fell 0.41% as the April bullion contract in New York rose $6.90 to US$900.50 an ounce.
Premier Gold Mines Limited (PG) +14.98% to $2.38. Laramide Resources Ltd. (LAM) +11.11% to $2.40. Gabriel Resources Ltd. (GBU) +5.99% to $2.30. First Quantum Minerals Ltd. (FM) +5.90% to $43.26. Aquiline Resources Inc. (AQI) +5.83% to $2.36.
US Gold Corporation (UXG) -5.86% to $2.41.
Eveready Inc. (TSX:EIS) soared $6.93 or 200 per cent to $10.40 after a $464-million deal to be acquired by Clean Harbors Inc. (NYSE:CLH), North America's biggest handler of hazardous waste. The cash-and-stock arrangement values the Edmonton-based energy services company at $11 per share.
Roger Biduk
The S&P/TSX Capped Health Care Index was lower by 0.68%.
Noveko International Inc. (EKO) -9.41% to $2.60.
Atrium Innovations Inc. (ATB) +6.25% to $13.94.
The S&P/TSX Capped Industrials Index was up 0.77%.
ADF Group Inc. (DRX) +13.02% 2.43. Canam Group Inc. Groupe Canam (CAM) +8.20% 6.86. Newalta Inc. (NAL) +7.06% 4.55. International Forest Products (IFP.A) +6.99% to $2.45. TimberWest Forest Corp. (TWF.UN) +5.83% to $3.45.
Barrick Gold Corp. (TSX:ABX) was five cents higher at $35.65 after a first-quarter profit of US$371 million, down from $514 million as the world's largest gold producer saw lower realized prices and higher costs.
The S&P/TSX Capped Utilities Index rose 1.79%.
EPCOR Power L.P. (EP.UN) -6.21% to $12.54.
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Tuesday, April 28, 2009
Roger Biduk; Bay Street Lower for Second day
Roger Biduk
The Toronto stock market closed lower for a second day, as investors continued to take profits Tuesday from a seven-week-old spring rally.
The S&P/TSX Capped Financial Index rose 0.22%.
Canaccord Capital Inc. (CCI) +8.25% to $7.22.
Canadian Oil Sands Trust (COS.UN) -6.00% to $25.05.
Toronto's S&P/TSX composite index lost 46.77 points to 9,348.03 dragged down by oil stocks as crude prices remained under pressure on concerns that the spread of swine flu could cut demand for fuel.
The TSX Venture Exchange was 9.88 points lower to 993.1 while the CDN$ was down 0.07 of a cent to 81.93 cents U.S.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index fell 2.21% as aluminum was flat, copper was 3.48% lower at $1.92 and silver fell 4.30% to $12.43.
Thompson Creek Metals Company (TCM.WT) +6.97% to $2.15.
Far West Mining Ltd. (FWM) -9.38% to $2.03. Fronteer Development Group Inc (FRG) -5.50% to $2.75.
The World Health Organization raised its alert on swine flu to Phase 4, meaning there is sustained human-to-human transmission of the virus causing outbreaks in at least one country.
The April crude contract on the New York Mercantile Exchange fell 0.44% to $49.92 and natural gas rose 2.32% to $3.44 as the S&P/TSX Energy Index fell 1.22%.
Peyto Energy Trust (PEY.UN) -6.28% to $9.40. Petrominerales Ltd. (PMG) -5.23% to $10.52.
Parkland Income Fund (PKI.UN) +9.74% to $8.56. Xtreme Coil Drilling Corp. (XDC) +6.78% to $3.15. Heritage Oil Corporation (HOC) +6.59% to $7.60.
Oil prices had earlier fell sharply amid the swine flu concerns as investors worried about lower demand. But losses were pared sharply mid-afternoon.
Roger Biduk
There has been concern that the spread of the disease could escalate to a full-blown pandemic and derail the economic rally, which has been based on hopes the worst of the economic damage from the recession is already factored in.
The S&P/TSX Capped Telecom Services Index was 1.18% higher and the S&P/TSX Capped Information Technology Index rose 1.05%.
CryptoLogic Limited (CRY) +16.26% to $8.15. Matrikon Inc. (MTK) +5.85% to $2.17. Bridgewater Systems Corporatio (BWC) +5.00% to $4.20.
However, analysts point out that the market was already vulnerable after a string of gains that have taken the TSX up about 24% since March 10.
In the Service sector:
Calian Technologies Ltd. (CTY) +10.69% to $16.05. Trimac Income Fund (TMA.UN) +6.48% to $2.63. MacDonald, Dettwiler and Assoc (MDA) +5.42% to $28.81. Data Group Income Fund (The) (DGI.UN) +5.28% to $4.19.
Roger Biduk
Petro-Canada (TSX:PCA) reported a quarterly loss of $47 million, which marked a sharp reversal from a profit of $1.08 billion during the same quarter the year before and its shares were up $.07 to $37.65.
The S&P/TSX Consumer Discretionary Index was 0.69% lower and the S&P/TSX Consumer Staples Index rose 0.25%.
Saputo Inc. (SAP) +5.57% to $23.12.
Viterra Inc. (VT) -10.18% to $8.47. Linamar Corporation (LNR) -6.55% to $4.28.
Nexen Inc. (TSX:NXY) shares slipped $.19 to $22.84 as it reported net income of $135 million for the quarter, down sharply from year-earlier profit of $630 million. Quarterly revenue fell to $1.31 billion from year-earlier levels of $2.09 billion.
The S&P/TSX Global Gold Index fell 2.37% as the April bullion contract in New York tanked $14.60 to US$893.60 an ounce.
Greystar Resources Ltd. (GSL) +8.97% to $4.25.
Laramide Resources Ltd. (LAM) -8.09% to $2.16.
Roger Biduk
Shares in UTS Energy Corp. (TSX:UTS) fell $.06 to $1.52 after French oil giant Total SA dropped its bid to take over the Canadian oilsands player. UTS, a partner in the Fort Hills oilsands project in Alberta had earlier rejected Total's $830 million offer as inadequate.
The S&P/TSX Capped Health Care Index was higher by 1.34%.
Shoppers Drug Mart Corp. (TSX:SC) shares rose $.69 to $44.84 as the company overcame both an ailing economy and a later Easter shopping season to post a six per cent increase in its first quarter profits.
The S&P/TSX Capped Industrials Index was down 0.64%.
ATS Automation Tooling Systems (ATA) -10.07% to $4.11. International Forest Products (IFP.A) -6.91% to $2.29.
ADF Group Inc. (DRX) +6.44% to $2.15.
And shares in sporting goods retailer Forzani Group Ltd. (TSX:FGL) gained $.18 to $12.24 after it said it plans to increase its sales by 10 per cent a year over five years by reducing its banner count and expanding its Sport Chek outlets.
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The Toronto stock market closed lower for a second day, as investors continued to take profits Tuesday from a seven-week-old spring rally.
The S&P/TSX Capped Financial Index rose 0.22%.
Canaccord Capital Inc. (CCI) +8.25% to $7.22.
Canadian Oil Sands Trust (COS.UN) -6.00% to $25.05.
Toronto's S&P/TSX composite index lost 46.77 points to 9,348.03 dragged down by oil stocks as crude prices remained under pressure on concerns that the spread of swine flu could cut demand for fuel.
The TSX Venture Exchange was 9.88 points lower to 993.1 while the CDN$ was down 0.07 of a cent to 81.93 cents U.S.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index fell 2.21% as aluminum was flat, copper was 3.48% lower at $1.92 and silver fell 4.30% to $12.43.
Thompson Creek Metals Company (TCM.WT) +6.97% to $2.15.
Far West Mining Ltd. (FWM) -9.38% to $2.03. Fronteer Development Group Inc (FRG) -5.50% to $2.75.
The World Health Organization raised its alert on swine flu to Phase 4, meaning there is sustained human-to-human transmission of the virus causing outbreaks in at least one country.
The April crude contract on the New York Mercantile Exchange fell 0.44% to $49.92 and natural gas rose 2.32% to $3.44 as the S&P/TSX Energy Index fell 1.22%.
Peyto Energy Trust (PEY.UN) -6.28% to $9.40. Petrominerales Ltd. (PMG) -5.23% to $10.52.
Parkland Income Fund (PKI.UN) +9.74% to $8.56. Xtreme Coil Drilling Corp. (XDC) +6.78% to $3.15. Heritage Oil Corporation (HOC) +6.59% to $7.60.
Oil prices had earlier fell sharply amid the swine flu concerns as investors worried about lower demand. But losses were pared sharply mid-afternoon.
Roger Biduk
There has been concern that the spread of the disease could escalate to a full-blown pandemic and derail the economic rally, which has been based on hopes the worst of the economic damage from the recession is already factored in.
The S&P/TSX Capped Telecom Services Index was 1.18% higher and the S&P/TSX Capped Information Technology Index rose 1.05%.
CryptoLogic Limited (CRY) +16.26% to $8.15. Matrikon Inc. (MTK) +5.85% to $2.17. Bridgewater Systems Corporatio (BWC) +5.00% to $4.20.
However, analysts point out that the market was already vulnerable after a string of gains that have taken the TSX up about 24% since March 10.
In the Service sector:
Calian Technologies Ltd. (CTY) +10.69% to $16.05. Trimac Income Fund (TMA.UN) +6.48% to $2.63. MacDonald, Dettwiler and Assoc (MDA) +5.42% to $28.81. Data Group Income Fund (The) (DGI.UN) +5.28% to $4.19.
Roger Biduk
Petro-Canada (TSX:PCA) reported a quarterly loss of $47 million, which marked a sharp reversal from a profit of $1.08 billion during the same quarter the year before and its shares were up $.07 to $37.65.
The S&P/TSX Consumer Discretionary Index was 0.69% lower and the S&P/TSX Consumer Staples Index rose 0.25%.
Saputo Inc. (SAP) +5.57% to $23.12.
Viterra Inc. (VT) -10.18% to $8.47. Linamar Corporation (LNR) -6.55% to $4.28.
Nexen Inc. (TSX:NXY) shares slipped $.19 to $22.84 as it reported net income of $135 million for the quarter, down sharply from year-earlier profit of $630 million. Quarterly revenue fell to $1.31 billion from year-earlier levels of $2.09 billion.
The S&P/TSX Global Gold Index fell 2.37% as the April bullion contract in New York tanked $14.60 to US$893.60 an ounce.
Greystar Resources Ltd. (GSL) +8.97% to $4.25.
Laramide Resources Ltd. (LAM) -8.09% to $2.16.
Roger Biduk
Shares in UTS Energy Corp. (TSX:UTS) fell $.06 to $1.52 after French oil giant Total SA dropped its bid to take over the Canadian oilsands player. UTS, a partner in the Fort Hills oilsands project in Alberta had earlier rejected Total's $830 million offer as inadequate.
The S&P/TSX Capped Health Care Index was higher by 1.34%.
Shoppers Drug Mart Corp. (TSX:SC) shares rose $.69 to $44.84 as the company overcame both an ailing economy and a later Easter shopping season to post a six per cent increase in its first quarter profits.
The S&P/TSX Capped Industrials Index was down 0.64%.
ATS Automation Tooling Systems (ATA) -10.07% to $4.11. International Forest Products (IFP.A) -6.91% to $2.29.
ADF Group Inc. (DRX) +6.44% to $2.15.
And shares in sporting goods retailer Forzani Group Ltd. (TSX:FGL) gained $.18 to $12.24 after it said it plans to increase its sales by 10 per cent a year over five years by reducing its banner count and expanding its Sport Chek outlets.
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Monday, April 27, 2009
Roger Biduk; Bay Street Lower on Energy & Flu
Roger Biduk
Stock markets closed lower Monday amid worries that a swine flu outbreak might morph into a full blown pandemic that could derail the economic recovery.
The S&P/TSX Capped Financial Index fell 1.96%.
Brookfield Properties Corporat (BPO) -6.14% to $9.02. Birchcliff Energy Ltd. (BIR) -5.32% to $5.87. Industrial Alliance Insurance (IAG) -5.05% to $24.24.
Toronto's S&P/TSX snapped a four-session winning streak, closing 154.68 points lower at 9,394.8, under pressure from the energy sector and falling crude prices.
The TSX Venture Exchange moved 3.83 points lower to 1,002.98, while the Canadian dollar was down 0.67 of a cent to 82 cents US.
S&P/TSX Capped Diversified Metals & Mining Index fell 1.62% as aluminum was flat, copper was 3.15% lower at $1.99 and silver rose 0.27% to $12.99.
Thompson Creek Metals Company (TCM.WT) +16.18% to $2.010. Greystar Resources Ltd. (GSL) +11.11% to $3.90. Augusta Resource Corporation (AZC) +9.36% to $2.22.
Roger Biduk
General Motors Canada will slash its workforce by more than half to 4,400 by 2014 and close as many as 310 dealerships by the end of next year. GM shares ran ahead $.35 or 20.7% to US$2.04.
The April crude contract on the New York Mercantile Exchange fell 2.73% to $50.16 and natural gas was down 1.17% to $3.37 as the S&P/TSX Energy Index fell 2.40%.
Corridor Resources Inc. (CDH) -9.09% to $2.20. Flint Energy Services Ltd. (FES) -6.32% to $6.37. Calfrac Well Services Ltd. (CFW) -6.19% to $9.10. Canadian Energy Services L.P. (CEU.UN) -5.98% to $5.50. Highpine Oil & Gas Limited (HPX) -5.57% to $5.43.
Fears that a spread of the swine flu virus could affect travel sent airline stocks lower. WestJet (TSX:WJA) dropped $.64 to $12.12, but Air Canada (TSX:AC.B) edged up $.01 to 81 cents.
The S&P/TSX Capped Telecom Services Index was 1.25% lower and the S&P/TSX Capped Information Technology Index fell 0.08%.
Tundra Semiconductor Corporati (TUN) +14.91% to $6.32. Gennum Corporation (GND) +14.06% to $5.11. CryptoLogic Limited (CRY) +7.85% to $7.01. Miranda Technologies Inc. (MT) +5.71% to $5.55.
Roger Biduk
In other corporate news, Tundra Semiconductor Corp. (TSX:TUN) says it has received a rival bid from Integrated Device Technology Inc. (Nasdaq:IDTI) that values the Ottawa company at C$6.25 per share or about $120.8 million.
The company says the offer is superior to a cash and share bid from Gennum Corp., a Burlington, Ont.-based microelectronics company (TSX:GND). Tundra shares moved up $.82 or 14.9% to $6.32 while Gennum shares surged $.63 or 14% to $5.11.
In the Service sector:
Transat A.T. Inc (TRZ.B) -10.04% to $10.75. Jazz Air Income Fund (JAZ.UN) -8.07% to $2.62. Mullen Group Income Fund (MTL.UN) -6.38% to $11.00. Reitmans (Canada) Limited (RET.A)
-5.06% to $11.45. WestJet Airlines Ltd. (WJA) -5.02% to $12.12.
Canadian pharmacy company Jean Coutu Group Inc. (TSX:PJC.A) said quarterly and full-year losses more than doubled versus year-earlier results, due to a weak financial performance by U.S. based Rite Aid Corp. (NYSE:RAD). Its shares added $.23 to $8.60.
The S&P/TSX Consumer Discretionary Index was 0.67% lower and the S&P/TSX Consumer Staples Index rose 0.99%.
Canfor Pulp Income Fund (CFX.UN) +9.66% to $2.61.
Roger Biduk
The S&P/TSX Global Gold Index fell 1.47% as the April bullion contract in New York sank $5.90 to US$908.20 an ounce.
Laramide Resources Ltd. (LAM) +32.77% to $2.350. Greystar Resources Ltd. (GSL) +11.11% to $3.90.
First Quantum Minerals Ltd. (FM) -5.36% to $41.14.
The S&P/TSX Capped Health Care Index was lower by 0.85%.
Noveko International Inc. (EKO) +47.37% to $2.80. Amica Mature Lifestyles Inc. (ACC) +10.61% to $3.65. Cangene Corporation (CNJ) +5.38% to $5.29.
The S&P/TSX Capped Industrials Index was down 2.13%.
Martinrea International Inc. (MRE) +6.78% to $4.25.
The S&P/TSX Capped Utilities Index fell 0.43%. Maxim Power Corp. (MXG) -8.03% to $2.75.
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Stock markets closed lower Monday amid worries that a swine flu outbreak might morph into a full blown pandemic that could derail the economic recovery.
The S&P/TSX Capped Financial Index fell 1.96%.
Brookfield Properties Corporat (BPO) -6.14% to $9.02. Birchcliff Energy Ltd. (BIR) -5.32% to $5.87. Industrial Alliance Insurance (IAG) -5.05% to $24.24.
Toronto's S&P/TSX snapped a four-session winning streak, closing 154.68 points lower at 9,394.8, under pressure from the energy sector and falling crude prices.
The TSX Venture Exchange moved 3.83 points lower to 1,002.98, while the Canadian dollar was down 0.67 of a cent to 82 cents US.
S&P/TSX Capped Diversified Metals & Mining Index fell 1.62% as aluminum was flat, copper was 3.15% lower at $1.99 and silver rose 0.27% to $12.99.
Thompson Creek Metals Company (TCM.WT) +16.18% to $2.010. Greystar Resources Ltd. (GSL) +11.11% to $3.90. Augusta Resource Corporation (AZC) +9.36% to $2.22.
Roger Biduk
General Motors Canada will slash its workforce by more than half to 4,400 by 2014 and close as many as 310 dealerships by the end of next year. GM shares ran ahead $.35 or 20.7% to US$2.04.
The April crude contract on the New York Mercantile Exchange fell 2.73% to $50.16 and natural gas was down 1.17% to $3.37 as the S&P/TSX Energy Index fell 2.40%.
Corridor Resources Inc. (CDH) -9.09% to $2.20. Flint Energy Services Ltd. (FES) -6.32% to $6.37. Calfrac Well Services Ltd. (CFW) -6.19% to $9.10. Canadian Energy Services L.P. (CEU.UN) -5.98% to $5.50. Highpine Oil & Gas Limited (HPX) -5.57% to $5.43.
Fears that a spread of the swine flu virus could affect travel sent airline stocks lower. WestJet (TSX:WJA) dropped $.64 to $12.12, but Air Canada (TSX:AC.B) edged up $.01 to 81 cents.
The S&P/TSX Capped Telecom Services Index was 1.25% lower and the S&P/TSX Capped Information Technology Index fell 0.08%.
Tundra Semiconductor Corporati (TUN) +14.91% to $6.32. Gennum Corporation (GND) +14.06% to $5.11. CryptoLogic Limited (CRY) +7.85% to $7.01. Miranda Technologies Inc. (MT) +5.71% to $5.55.
Roger Biduk
In other corporate news, Tundra Semiconductor Corp. (TSX:TUN) says it has received a rival bid from Integrated Device Technology Inc. (Nasdaq:IDTI) that values the Ottawa company at C$6.25 per share or about $120.8 million.
The company says the offer is superior to a cash and share bid from Gennum Corp., a Burlington, Ont.-based microelectronics company (TSX:GND). Tundra shares moved up $.82 or 14.9% to $6.32 while Gennum shares surged $.63 or 14% to $5.11.
In the Service sector:
Transat A.T. Inc (TRZ.B) -10.04% to $10.75. Jazz Air Income Fund (JAZ.UN) -8.07% to $2.62. Mullen Group Income Fund (MTL.UN) -6.38% to $11.00. Reitmans (Canada) Limited (RET.A)
-5.06% to $11.45. WestJet Airlines Ltd. (WJA) -5.02% to $12.12.
Canadian pharmacy company Jean Coutu Group Inc. (TSX:PJC.A) said quarterly and full-year losses more than doubled versus year-earlier results, due to a weak financial performance by U.S. based Rite Aid Corp. (NYSE:RAD). Its shares added $.23 to $8.60.
The S&P/TSX Consumer Discretionary Index was 0.67% lower and the S&P/TSX Consumer Staples Index rose 0.99%.
Canfor Pulp Income Fund (CFX.UN) +9.66% to $2.61.
Roger Biduk
The S&P/TSX Global Gold Index fell 1.47% as the April bullion contract in New York sank $5.90 to US$908.20 an ounce.
Laramide Resources Ltd. (LAM) +32.77% to $2.350. Greystar Resources Ltd. (GSL) +11.11% to $3.90.
First Quantum Minerals Ltd. (FM) -5.36% to $41.14.
The S&P/TSX Capped Health Care Index was lower by 0.85%.
Noveko International Inc. (EKO) +47.37% to $2.80. Amica Mature Lifestyles Inc. (ACC) +10.61% to $3.65. Cangene Corporation (CNJ) +5.38% to $5.29.
The S&P/TSX Capped Industrials Index was down 2.13%.
Martinrea International Inc. (MRE) +6.78% to $4.25.
The S&P/TSX Capped Utilities Index fell 0.43%. Maxim Power Corp. (MXG) -8.03% to $2.75.
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Thursday, April 23, 2009
Roger Biduk; Bay Street Higher on Lousy News
Roger Biduk
How does this work? The news gets worse and worse but the markets go up. I’m expecting a nice downturn coming up very soon.
North American markets all finished near their highs of the day on Thursday as investors fended off another wave of bleak economic data on U.S. home sales and employment.
The S&P/TSX Capped Financial Index rose 1.63%.
Canexus Income Fund (CUS.UN) +21.21% to $4.00. Algonquin Power Income Fund (APF.UN) +13.60% to $2.84. Crown Hill Fund (MYT.UN) +10.31% to $4.28. Franco-Nevada Corporation (FNV.WT) +10.87% to $5.10. Fiera High Income Trust (HIT.UN) +8.31% to $10.04.
SL Split Corp. (SLS) -14.55% to $2.82. Oil Sands Split Trust (OST.UN) -9.87% to $109.99. Whiterock Real Estate Investme (WRK.UN) -9.09% to $15.000. NB Split Corp. (NBF) -7.46% to $6.20. Allbanc Split Corp. (ABK.A) -7.36% to $17.13.
Toronto's S&P/TSX composite index rode out a relatively turbulent trading session and closed up 130.35 points to 9409.50.
The TSX Venture Exchange gained 8.82 points to 987.94.
The Canadian dollar gained 1.06 to 81.71 cents US.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index gained 0.46% as aluminum lost 1.13%, copper was 3.37% lower at $1.99 and silver rose 3.66% to $12.66.
Quadra Mining Ltd. (QUA) +9.08% to $6.25. Queenston Mining Inc. (QMI) +7.65% to $3.66. Jaguar Mining Inc. (JAG) +7.62% to $7.20. Richmont Mines Inc. (RIC) +7.48% to $4.31. Osisko Mining Corporation (OSK) +6.52% to $5.72. Silvercorp Metals Inc. (SVM) +5.86% to $2.89.
Gerdau AmeriSteel Corporation (GNA) -8.94% to $5.50.
Statistics Canada said retail sales edged up 0.2 per cent in February to $33.7 billion, driven by higher prices rather than sales volumes.
The April crude contract on the New York Mercantile Exchange rose 0.62% to $48.85 and natural gas was down 3.70% to $3.51 as the S&P/TSX Energy Index rose 2.08%.
West Energy Ltd. (WTL) +6.09% to $2.44. ShawCor Ltd. (SCL.A) +5.68% to $21.60. Peyto Energy Trust (PEY.UN) +5.21% to $9.89.
Eveready Inc. (EIS) -15.95% to $3.320.
Investors were also focused on comments from the Bank of Canada which said in its April monetary report that the recession is much more severe and will last longer than it previously thought.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.18% lower and the S&P/TSX Consumer Staples Index rose 0.62%.
Gildan Activewear Inc. (GIL) -5.96% to $15.00.
Fortress Paper Ltd. (FTP) +15.51% to $7.00. Cascades Inc. (CAS) +7.69% to $3.50. Arctic Glacier Income Fund (AG.UN) +6.09% to $2.09. Linamar Corporation (LNR) +6.06% to $4.55.
In earnings, Suncor Energy Inc. (TSX:SU) reported a first quarter loss of $189 million on comparatively low oil prices and various accounting and foreign exchange impacts. Shares in the company rose 86 cents to $30.33.
The S&P/TSX Capped Telecom Services Index was 0.95% higher and the S&P/TSX Capped Information Technology Index rose 0.82%.
Celestica Inc. (CLS) +13.03% to $6.42. March Networks Corporation (MN) +12.15% to $3.60.
Celestica Inc. (TSX:CLS) shares rose 13% to $6.42 after the contract manufacturer reported first-quarter earnings of US$19.2 million, down 36 per cent from a year earlier, as revenue fell 20 per cent.
Roger Biduk
The S&P/TSX Global Gold Index rose 2.52% as the April bullion contract in New York rose $14.10 to US$906.60 an ounce.
Banro Corporation (BAA) +8.56% to $2.03. Queenston Mining Inc. (QMI) +7.65% to $3.66. Jaguar Mining Inc. (JAG) +7.60% to $7.220. Richmont Mines Inc. (RIC) +7.48% to $4.31. Kirkland Lake Gold Inc. (KGI) +6.16% to $7.75.
Weaker demand for fertilizer and lower prices pushed Potash Corp. (TSX:POT) profits to US$308.3 million, down from a year-earlier profit of $566 million, while shares dropped $2.91 to $97.49.
In the Service sector:
Vitran Corporation Inc. (VTN) +12.00% to $8.40. Great Canadian Gaming Corp. (GC) +6.32% to $3.70. Garda World Security Corporati (GW) +5.72% to $3.14.
Roger Biduk
Grocery store operator Metro Inc. (TSX:MRU.A) said it is raising its dividend by 10 per cent as it posted net earnings of $76.3 million, an increase of 41 per cent over the same time last year. Company shares were down $.10 to $37.55.
The S&P/TSX Capped Health Care Index was lower by 0.97%.
Oncolytics Biotech Inc. (ONC) +8.87% to $2.21. Transition Therapeutics Inc. (TTH) +5.22% to $4.84.
The S&P/TSX Capped Industrials Index was up 1.86%.
Newalta Inc. (NAL) +8.86% to $4.30.
The S&P/TSX Capped Utilities Index rose 0.72%.
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How does this work? The news gets worse and worse but the markets go up. I’m expecting a nice downturn coming up very soon.
North American markets all finished near their highs of the day on Thursday as investors fended off another wave of bleak economic data on U.S. home sales and employment.
The S&P/TSX Capped Financial Index rose 1.63%.
Canexus Income Fund (CUS.UN) +21.21% to $4.00. Algonquin Power Income Fund (APF.UN) +13.60% to $2.84. Crown Hill Fund (MYT.UN) +10.31% to $4.28. Franco-Nevada Corporation (FNV.WT) +10.87% to $5.10. Fiera High Income Trust (HIT.UN) +8.31% to $10.04.
SL Split Corp. (SLS) -14.55% to $2.82. Oil Sands Split Trust (OST.UN) -9.87% to $109.99. Whiterock Real Estate Investme (WRK.UN) -9.09% to $15.000. NB Split Corp. (NBF) -7.46% to $6.20. Allbanc Split Corp. (ABK.A) -7.36% to $17.13.
Toronto's S&P/TSX composite index rode out a relatively turbulent trading session and closed up 130.35 points to 9409.50.
The TSX Venture Exchange gained 8.82 points to 987.94.
The Canadian dollar gained 1.06 to 81.71 cents US.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index gained 0.46% as aluminum lost 1.13%, copper was 3.37% lower at $1.99 and silver rose 3.66% to $12.66.
Quadra Mining Ltd. (QUA) +9.08% to $6.25. Queenston Mining Inc. (QMI) +7.65% to $3.66. Jaguar Mining Inc. (JAG) +7.62% to $7.20. Richmont Mines Inc. (RIC) +7.48% to $4.31. Osisko Mining Corporation (OSK) +6.52% to $5.72. Silvercorp Metals Inc. (SVM) +5.86% to $2.89.
Gerdau AmeriSteel Corporation (GNA) -8.94% to $5.50.
Statistics Canada said retail sales edged up 0.2 per cent in February to $33.7 billion, driven by higher prices rather than sales volumes.
The April crude contract on the New York Mercantile Exchange rose 0.62% to $48.85 and natural gas was down 3.70% to $3.51 as the S&P/TSX Energy Index rose 2.08%.
West Energy Ltd. (WTL) +6.09% to $2.44. ShawCor Ltd. (SCL.A) +5.68% to $21.60. Peyto Energy Trust (PEY.UN) +5.21% to $9.89.
Eveready Inc. (EIS) -15.95% to $3.320.
Investors were also focused on comments from the Bank of Canada which said in its April monetary report that the recession is much more severe and will last longer than it previously thought.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.18% lower and the S&P/TSX Consumer Staples Index rose 0.62%.
Gildan Activewear Inc. (GIL) -5.96% to $15.00.
Fortress Paper Ltd. (FTP) +15.51% to $7.00. Cascades Inc. (CAS) +7.69% to $3.50. Arctic Glacier Income Fund (AG.UN) +6.09% to $2.09. Linamar Corporation (LNR) +6.06% to $4.55.
In earnings, Suncor Energy Inc. (TSX:SU) reported a first quarter loss of $189 million on comparatively low oil prices and various accounting and foreign exchange impacts. Shares in the company rose 86 cents to $30.33.
The S&P/TSX Capped Telecom Services Index was 0.95% higher and the S&P/TSX Capped Information Technology Index rose 0.82%.
Celestica Inc. (CLS) +13.03% to $6.42. March Networks Corporation (MN) +12.15% to $3.60.
Celestica Inc. (TSX:CLS) shares rose 13% to $6.42 after the contract manufacturer reported first-quarter earnings of US$19.2 million, down 36 per cent from a year earlier, as revenue fell 20 per cent.
Roger Biduk
The S&P/TSX Global Gold Index rose 2.52% as the April bullion contract in New York rose $14.10 to US$906.60 an ounce.
Banro Corporation (BAA) +8.56% to $2.03. Queenston Mining Inc. (QMI) +7.65% to $3.66. Jaguar Mining Inc. (JAG) +7.60% to $7.220. Richmont Mines Inc. (RIC) +7.48% to $4.31. Kirkland Lake Gold Inc. (KGI) +6.16% to $7.75.
Weaker demand for fertilizer and lower prices pushed Potash Corp. (TSX:POT) profits to US$308.3 million, down from a year-earlier profit of $566 million, while shares dropped $2.91 to $97.49.
In the Service sector:
Vitran Corporation Inc. (VTN) +12.00% to $8.40. Great Canadian Gaming Corp. (GC) +6.32% to $3.70. Garda World Security Corporati (GW) +5.72% to $3.14.
Roger Biduk
Grocery store operator Metro Inc. (TSX:MRU.A) said it is raising its dividend by 10 per cent as it posted net earnings of $76.3 million, an increase of 41 per cent over the same time last year. Company shares were down $.10 to $37.55.
The S&P/TSX Capped Health Care Index was lower by 0.97%.
Oncolytics Biotech Inc. (ONC) +8.87% to $2.21. Transition Therapeutics Inc. (TTH) +5.22% to $4.84.
The S&P/TSX Capped Industrials Index was up 1.86%.
Newalta Inc. (NAL) +8.86% to $4.30.
The S&P/TSX Capped Utilities Index rose 0.72%.
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Wednesday, April 22, 2009
Roger Biduk; Small Gains for Bay Street
Roger Biduk
Toronto's main index finished higher Wednesday, but backed off earlier triple-digit gains, as questions about the direction of the global economy weighed on markets.
The S&P/TSX Capped Financial Index fell 1.22%.
Scott's Real Estate Investment (SRQ.UN) +7.32% to $4.40. Extendicare Real Estate Invest (EXE.UN) +7.97% to $4.74.
Crown Hill Fund (MYT.UN) -11.59% to $3.66.
The S&P/TSX composite index rose 31.98 points to 9,279.15, after climbing as much as 164 points in the afternoon.
The TSX Venture Exchange fell 4.74 points to 979.12.
S&P/TSX Capped Diversified Metals & Mining Index dropped 0.65% as aluminum was flat, copper was 0.94% lower at $2.06 and silver rose 2.03% to $12.31.
Uranium One Inc. (UUU) +8.90% to $3.06. Red Back Mining Inc. (RBI) +6.39% to $8.16. Jaguar Mining Inc. (JAG) +6.02% to $6.69. Gerdau AmeriSteel Corporation (GNA) +5.78% to $6.04. Silvercorp Metals Inc. (SVM) +5.41% to $2.73.
Roger Biduk
The International Monetary Fund is projecting a 1.3 per cent drop in global economic activity this year, the first decline in six decades. The new forecast of a decline in global economic activity for 2009 is much weaker than the 0.5 per cent growth the IMF had estimated in January.
The April crude contract on the New York Mercantile Exchange rose 0.62% to $48.85 and natural gas was up 0.28% to $3.65 as the S&P/TSX Energy Index rose 1.66%.
Eveready Inc. (EIS) +17.91% to $3.95. Heritage Oil Corporation (HOC) +10.06% to $7.44. Trinidad Drilling Ltd. (TDG) +9.65% to $4.66. Flint Energy Services Ltd. (FES) +6.83% to $6.73. Ensign Energy Services Inc. (ESI) +5.40% to $13.46.
The U.S. Energy Information Administration said that crude inventories rose by 3.7 million barrels to 370.6 million barrels, which is the highest level in nearly 19 years.
The CDN$ moved down 0.24 cent to 80.65 cents U.S., and Statistics Canada reported its composite leading index fell 1.3 per cent in March, another contraction as the manufacturing sector faced widespread cutbacks.
Roger Biduk
The S&P/TSX Capped Telecom Services Index was 0.52% higher and the S&P/TSX Capped Information Technology Index rose 0.46%.
Aastra Technologies Limited (AAH) +34.73% to $30.65. DragonWave Inc. (DWI) +19.72% to $2.55. March Networks Corporation (MN) +8.81% to $3.21.
EnCana Corp. (TSX:ECA) topped expectations as its first-quarter profit soared to US$962 million or $1.28 per share, from $93 million a year ago. Its shares were up $2.21 to $54.92.
The S&P/TSX Capped Health Care Index was lower by 0.86%.
Novadaq Technologies Inc. (NDQ) +16.28% to $3.50. Theratechnologies Inc. (TH) +7.39% to $3.05.
QLT Inc. (QLT) -5.66% to $2.500. Oncolytics Biotech Inc. (ONC) -6.02% to $2.03.
Precision Drilling Trust (TSX:PD.UN) reported a first-quarter net profit of $57 million, down 46 per cent from a year ago amid an "unprecedented" slump in oilpatch activity. Its units closed 32 cents higher to $5.55.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 1.02% higher and the S&P/TSX Consumer Staples Index fell 0.33%.
Canfor Pulp Income Fund (CFX.UN) +9.90% to $2.22. Cascades Inc. (CAS) +8.33% to $3.25.
Toromont Industries Ltd. (TSX:TIH) booked a record 44 per cent year-over-year increase in first quarter profit to $23.7 million as revenue rose to $457.7 million despite lower booking activities. Shares of the company ended up 91 cents at $24.90.
The S&P/TSX Global Gold Index rose 0.74% as the April bullion contract in New York rose $9.80 to US$892.20 an ounce.
Centerra Gold Inc. (CG) +11.42% to $6.44. Kirkland Lake Gold Inc. (KGI) +7.35% to $7.30. Jaguar Mining Inc. (JAG) +6.02% to $6.69. NovaGold Resources Inc (NG) +5.05% to $2.91.
Canwest Global Communications Corp. (TSX:CGS) gained four cents to 28 cents after the media conglomerate arranged another reprieve from lenders and noteholders, this time until May 5.
Roger Biduk
In the Service sector:
CanWel Building Materials Inco (CWX.UN) +14.85% to $2.63. Transat A.T. Inc (TRZ.A) +12.88% to $11.04. Garda World Security Corporati (GW) +10.41% to $2.97. Transat A.T. Inc (TRZ.B) +7.06% to $10.77. Finning International Inc. (FTT) +6.95% to $14.00.
Gamehost Income Fund (GH.UN) -5.39% to $6.50.
Clothing retailer West 49 Inc. (TSX:WXX) dropped to an $8.5-million net loss in its latest quarter, and also said it was in violation of a bank covenant at the end of the quarter, though it has obtained a waiver until June 30. The company expects to violate another covenant when the current quarter closes at the end of this month. Shares lost 55 cents to close at 31 cents.
The S&P/TSX Capped Industrials Index was up 0.47%.
The S&P/TSX Capped Utilities Index rose 0.36%.
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Toronto's main index finished higher Wednesday, but backed off earlier triple-digit gains, as questions about the direction of the global economy weighed on markets.
The S&P/TSX Capped Financial Index fell 1.22%.
Scott's Real Estate Investment (SRQ.UN) +7.32% to $4.40. Extendicare Real Estate Invest (EXE.UN) +7.97% to $4.74.
Crown Hill Fund (MYT.UN) -11.59% to $3.66.
The S&P/TSX composite index rose 31.98 points to 9,279.15, after climbing as much as 164 points in the afternoon.
The TSX Venture Exchange fell 4.74 points to 979.12.
S&P/TSX Capped Diversified Metals & Mining Index dropped 0.65% as aluminum was flat, copper was 0.94% lower at $2.06 and silver rose 2.03% to $12.31.
Uranium One Inc. (UUU) +8.90% to $3.06. Red Back Mining Inc. (RBI) +6.39% to $8.16. Jaguar Mining Inc. (JAG) +6.02% to $6.69. Gerdau AmeriSteel Corporation (GNA) +5.78% to $6.04. Silvercorp Metals Inc. (SVM) +5.41% to $2.73.
Roger Biduk
The International Monetary Fund is projecting a 1.3 per cent drop in global economic activity this year, the first decline in six decades. The new forecast of a decline in global economic activity for 2009 is much weaker than the 0.5 per cent growth the IMF had estimated in January.
The April crude contract on the New York Mercantile Exchange rose 0.62% to $48.85 and natural gas was up 0.28% to $3.65 as the S&P/TSX Energy Index rose 1.66%.
Eveready Inc. (EIS) +17.91% to $3.95. Heritage Oil Corporation (HOC) +10.06% to $7.44. Trinidad Drilling Ltd. (TDG) +9.65% to $4.66. Flint Energy Services Ltd. (FES) +6.83% to $6.73. Ensign Energy Services Inc. (ESI) +5.40% to $13.46.
The U.S. Energy Information Administration said that crude inventories rose by 3.7 million barrels to 370.6 million barrels, which is the highest level in nearly 19 years.
The CDN$ moved down 0.24 cent to 80.65 cents U.S., and Statistics Canada reported its composite leading index fell 1.3 per cent in March, another contraction as the manufacturing sector faced widespread cutbacks.
Roger Biduk
The S&P/TSX Capped Telecom Services Index was 0.52% higher and the S&P/TSX Capped Information Technology Index rose 0.46%.
Aastra Technologies Limited (AAH) +34.73% to $30.65. DragonWave Inc. (DWI) +19.72% to $2.55. March Networks Corporation (MN) +8.81% to $3.21.
EnCana Corp. (TSX:ECA) topped expectations as its first-quarter profit soared to US$962 million or $1.28 per share, from $93 million a year ago. Its shares were up $2.21 to $54.92.
The S&P/TSX Capped Health Care Index was lower by 0.86%.
Novadaq Technologies Inc. (NDQ) +16.28% to $3.50. Theratechnologies Inc. (TH) +7.39% to $3.05.
QLT Inc. (QLT) -5.66% to $2.500. Oncolytics Biotech Inc. (ONC) -6.02% to $2.03.
Precision Drilling Trust (TSX:PD.UN) reported a first-quarter net profit of $57 million, down 46 per cent from a year ago amid an "unprecedented" slump in oilpatch activity. Its units closed 32 cents higher to $5.55.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 1.02% higher and the S&P/TSX Consumer Staples Index fell 0.33%.
Canfor Pulp Income Fund (CFX.UN) +9.90% to $2.22. Cascades Inc. (CAS) +8.33% to $3.25.
Toromont Industries Ltd. (TSX:TIH) booked a record 44 per cent year-over-year increase in first quarter profit to $23.7 million as revenue rose to $457.7 million despite lower booking activities. Shares of the company ended up 91 cents at $24.90.
The S&P/TSX Global Gold Index rose 0.74% as the April bullion contract in New York rose $9.80 to US$892.20 an ounce.
Centerra Gold Inc. (CG) +11.42% to $6.44. Kirkland Lake Gold Inc. (KGI) +7.35% to $7.30. Jaguar Mining Inc. (JAG) +6.02% to $6.69. NovaGold Resources Inc (NG) +5.05% to $2.91.
Canwest Global Communications Corp. (TSX:CGS) gained four cents to 28 cents after the media conglomerate arranged another reprieve from lenders and noteholders, this time until May 5.
Roger Biduk
In the Service sector:
CanWel Building Materials Inco (CWX.UN) +14.85% to $2.63. Transat A.T. Inc (TRZ.A) +12.88% to $11.04. Garda World Security Corporati (GW) +10.41% to $2.97. Transat A.T. Inc (TRZ.B) +7.06% to $10.77. Finning International Inc. (FTT) +6.95% to $14.00.
Gamehost Income Fund (GH.UN) -5.39% to $6.50.
Clothing retailer West 49 Inc. (TSX:WXX) dropped to an $8.5-million net loss in its latest quarter, and also said it was in violation of a bank covenant at the end of the quarter, though it has obtained a waiver until June 30. The company expects to violate another covenant when the current quarter closes at the end of this month. Shares lost 55 cents to close at 31 cents.
The S&P/TSX Capped Industrials Index was up 0.47%.
The S&P/TSX Capped Utilities Index rose 0.36%.
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Tuesday, April 21, 2009
Roger Biduk; Bay Street Higher
Roger Biduk
Stock markets ended in positive territory Tuesday despite weak U.S. corporate earnings reports and a warning by the Bank of Canada that the recession will be deeper than it previously predicted.
The S&P/TSX Capped Financial Index rose 2.80%.
GMP Capital Trust (GMP.UN) +8.61% to $8.96. Brookfield Properties Corporat (BPO) +8.52% to $9.17. Birchcliff Energy Ltd. (BIR) +8.24% to $6.44. IGM Financial Inc. (IGM) +7.37% to $35.99. Fairborne Energy Ltd. (FEL) +6.75% to $4.27.
Toronto's S&P/TSX composite index ended higher by 121.02 points at 9,247.17, reversing an early slide that followed the central bank's decision to cut its key policy rate by a quarter-point to 0.25 per cent in an effort to jolt the economy into life.
The TSX Venture Exchange lost 1.05 points to 974.38.
The Canadian dollar closed up 0.15 of a cent at 80.89 cents US, after briefly dipping below 80 cents in early action.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index soared 11.39% as aluminum rose 1.15%, copper was 1.19% lower at $2.08 and silver lost 0.37% to $12.06.
Gerdau AmeriSteel Corporation (GNA) +8.76% to $5.71. Forsys Metals Corp. (FSY) +6.25% to $4.59. Inmet Mining Corporation (IMN) +6.02% to $36.65.
On the TSX, Teck Cominco (TCK.B) surged 36.88% to $12.47 after it stabilized its debt situation while reporting a first-quarter profit of $241 million, off from $345 million a year ago although revenue was up 11 per cent to $1.71 billion.
The April crude contract on the New York Mercantile Exchange rose 1.37% to $46.51 and natural gas was down 0.87% to $3.64 as the S&P/TSX Energy Index rose 1.86%.
Eveready Inc. (EIS) +20.07% to $3.35. OPTI Canada Inc. (OPC) +13.74% to $2.07. Cathedral Energy Services Inco (CET.UN) +12.79% to $4.41. Pason Systems Inc. (PSI) +8.77% to $10.91. Trican Well Service Ltd. (TCW) +7.03% to $9.140.
Heritage Oil Corporation (HOC) -8.65% to $6.76.
Timminco Ltd. (TSX:TIM) continued its fall from grace, losing 23% to $1.82 following Monday's 38 per cent drop on news that customers for its solar-panel-grade silicon are claiming their contracts have been terminated due to non-compliance. Timminco shares were worth over $35 last June after a dramatic run-up.
Roger Biduk
The S&P/TSX Capped Telecom Services Index was 1.37% higher and the S&P/TSX Capped Information Technology Index rose 2.81%.
DragonWave Inc. (DWI) +17.03% to $2.13. Celestica Inc. (CLS) +7.79% to $5.950. Aastra Technologies Limited (AAH) +7.36% to $22.75.
Canadian National Railway Co. (TSX:CNR) moved ahead $1.33 to $50.11 after announcing that retiring CEO Hunter Harrison will be succeeded at year-end by chief financial officer Claude Mongeau. That followed CN's report that quarterly earnings increased to $424 million from $311 million, thanks to a one-time gain.
The S&P/TSX Capped Health Care Index was higher by 1.71%.
Oncolytics Biotech Inc. (ONC) +15.51% to $2.16.
The S&P/TSX Capped Industrials Index was up 0.97%.
ADF Group Inc. (DRX) +5.91% to $2.15.
Ballard Power Systems Inc. (BLD) +5.11% to $2.47.
Canfor Corporation (CFP) -7.45% to $5.09.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.37% higher and the S&P/TSX Consumer Staples Index rose 0.56%.
Linamar Corporation (LNR) +10.39% to $4.25. Canfor Pulp Income Fund (CFX.UN) +6.88% to $2.02. Gildan Activewear Inc. (GIL) +5.40% to $15.41.
Arctic Glacier Income Fund (AG.UN) -20.00% to $2.00.
The S&P/TSX Capped Utilities Index fell 0.44%.
The S&P/TSX Global Gold Index fell 2.62% as the April bullion contract in New York fell $4.80 to US$882.70 an ounce.
Centerra Gold Inc. (CG) +7.84% to $5.78.
Kinross Gold Corporation (K.WT.C) -10.35% to $3.55. Aquiline Resources Inc. (AQI) -9.05% to $2.21.Alamos Gold Inc. (AGI) -5.15% to $7.37.
In the Service sector:
TransForce Inc. (TFI) +10.75% to $4.43. Coast Wholesale Appliances Inc (CWA.UN) +8.17% to $2.25. Intermap Technologies Corporat (IMP) +7.94% to $2.04. MacDonald, Dettwiler and Assoc (MDA) +7.08% to $26.92. Westshore Terminals Income Fun (WTE.UN) +6.12% to $10.75. Cargojet Income Fund (CJT.UN) to -5.10% to $2.79.
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Stock markets ended in positive territory Tuesday despite weak U.S. corporate earnings reports and a warning by the Bank of Canada that the recession will be deeper than it previously predicted.
The S&P/TSX Capped Financial Index rose 2.80%.
GMP Capital Trust (GMP.UN) +8.61% to $8.96. Brookfield Properties Corporat (BPO) +8.52% to $9.17. Birchcliff Energy Ltd. (BIR) +8.24% to $6.44. IGM Financial Inc. (IGM) +7.37% to $35.99. Fairborne Energy Ltd. (FEL) +6.75% to $4.27.
Toronto's S&P/TSX composite index ended higher by 121.02 points at 9,247.17, reversing an early slide that followed the central bank's decision to cut its key policy rate by a quarter-point to 0.25 per cent in an effort to jolt the economy into life.
The TSX Venture Exchange lost 1.05 points to 974.38.
The Canadian dollar closed up 0.15 of a cent at 80.89 cents US, after briefly dipping below 80 cents in early action.
Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index soared 11.39% as aluminum rose 1.15%, copper was 1.19% lower at $2.08 and silver lost 0.37% to $12.06.
Gerdau AmeriSteel Corporation (GNA) +8.76% to $5.71. Forsys Metals Corp. (FSY) +6.25% to $4.59. Inmet Mining Corporation (IMN) +6.02% to $36.65.
On the TSX, Teck Cominco (TCK.B) surged 36.88% to $12.47 after it stabilized its debt situation while reporting a first-quarter profit of $241 million, off from $345 million a year ago although revenue was up 11 per cent to $1.71 billion.
The April crude contract on the New York Mercantile Exchange rose 1.37% to $46.51 and natural gas was down 0.87% to $3.64 as the S&P/TSX Energy Index rose 1.86%.
Eveready Inc. (EIS) +20.07% to $3.35. OPTI Canada Inc. (OPC) +13.74% to $2.07. Cathedral Energy Services Inco (CET.UN) +12.79% to $4.41. Pason Systems Inc. (PSI) +8.77% to $10.91. Trican Well Service Ltd. (TCW) +7.03% to $9.140.
Heritage Oil Corporation (HOC) -8.65% to $6.76.
Timminco Ltd. (TSX:TIM) continued its fall from grace, losing 23% to $1.82 following Monday's 38 per cent drop on news that customers for its solar-panel-grade silicon are claiming their contracts have been terminated due to non-compliance. Timminco shares were worth over $35 last June after a dramatic run-up.
Roger Biduk
The S&P/TSX Capped Telecom Services Index was 1.37% higher and the S&P/TSX Capped Information Technology Index rose 2.81%.
DragonWave Inc. (DWI) +17.03% to $2.13. Celestica Inc. (CLS) +7.79% to $5.950. Aastra Technologies Limited (AAH) +7.36% to $22.75.
Canadian National Railway Co. (TSX:CNR) moved ahead $1.33 to $50.11 after announcing that retiring CEO Hunter Harrison will be succeeded at year-end by chief financial officer Claude Mongeau. That followed CN's report that quarterly earnings increased to $424 million from $311 million, thanks to a one-time gain.
The S&P/TSX Capped Health Care Index was higher by 1.71%.
Oncolytics Biotech Inc. (ONC) +15.51% to $2.16.
The S&P/TSX Capped Industrials Index was up 0.97%.
ADF Group Inc. (DRX) +5.91% to $2.15.
Ballard Power Systems Inc. (BLD) +5.11% to $2.47.
Canfor Corporation (CFP) -7.45% to $5.09.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.37% higher and the S&P/TSX Consumer Staples Index rose 0.56%.
Linamar Corporation (LNR) +10.39% to $4.25. Canfor Pulp Income Fund (CFX.UN) +6.88% to $2.02. Gildan Activewear Inc. (GIL) +5.40% to $15.41.
Arctic Glacier Income Fund (AG.UN) -20.00% to $2.00.
The S&P/TSX Capped Utilities Index fell 0.44%.
The S&P/TSX Global Gold Index fell 2.62% as the April bullion contract in New York fell $4.80 to US$882.70 an ounce.
Centerra Gold Inc. (CG) +7.84% to $5.78.
Kinross Gold Corporation (K.WT.C) -10.35% to $3.55. Aquiline Resources Inc. (AQI) -9.05% to $2.21.Alamos Gold Inc. (AGI) -5.15% to $7.37.
In the Service sector:
TransForce Inc. (TFI) +10.75% to $4.43. Coast Wholesale Appliances Inc (CWA.UN) +8.17% to $2.25. Intermap Technologies Corporat (IMP) +7.94% to $2.04. MacDonald, Dettwiler and Assoc (MDA) +7.08% to $26.92. Westshore Terminals Income Fun (WTE.UN) +6.12% to $10.75. Cargojet Income Fund (CJT.UN) to -5.10% to $2.79.
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Monday, April 20, 2009
Roger Biduk; Bay Street Lower on Oils & Financials
Roger Biduk
Stock markets dropped heavily on Monday as crude oil prices fell to the lowest level since mid-March and fears grew that big American banks are burdened by swelling bad debts.
The S&P/TSX Capped Financial Index sank 5.06%.
Franco-Nevada Corporation (FNV) +5.36% to $25.150.
Savanna Energy Services Corp. (SVY) -14.43% to $5.220. Canadian Life Companies Split (LFE) -11.96% to $4.27. Dundee Corporation (DC.A) -11.74% to $5.34. Birchcliff Energy Ltd. (BIR) -11.19% to $5.95. Brookfield Properties Corp. (BPO) -10.11% to $8.45.
Renewed worries about the U.S. banks came on word that their lending remains tight and anxiety that Washington may take big ownership stakes in banks as its $700-billion bailout fund runs down.
The S&P/TSX Capped Health Care Index was lower by 1.44%.
Theratechnologies Inc. (TH) -8.58% to $2.77.
Roger Biduk
Toronto's S&P/TSX composite index fell 311.50 points to 9,126.15, with the energy and base metals sectors contributing most to the drag.
The TSX Venture Exchange ended down 13.80 points to 975.43.
The Canadian dollar fell 1.56 cents to 80.74 cents US.
The April crude contract on the New York Mercantile Exchange tanked 8.84% to $45.88 and natural gas was down 5.05% to $3.67 as the S&P/TSX Energy Index sank 6.48%.
Eveready Inc. (EIS) +13.88% to $2.79. Heritage Oil Corporation (HOC) +8.82% to $7.40.
Ensign Energy Services Inc. (ESI) -13.23% to $12.00. Xtreme Coil Drilling Corp. (XDC)
-11.06% to $2.09. Trican Well Service Ltd. (TCW) -10.48% to $8.54. Galleon Energy Inc. (GO)
-10.40% to $4.48. Highpine Oil & Gas Limited (HPX) -10.37% to $5.53.
Precision Drilling Trust units (TSX:PD.UN) lost 8% to $4.52 on news that an Alberta government investment vehicle is taking a 15 per cent stake in the oilfield services trust. The $380 million financing is to enable Precision to restructure debt.
S&P/TSX Capped Diversified Metals & Mining Index tanked 10.13% as aluminum fell 2.96%, copper was 4.21% lower at $2.11 and silver gained 2.67% to $12.11.
Red Back Mining Inc. (RBI) +8.73% to $7.60.
Teck Cominco Limited (TCK.B) -14.78% to $9.11. First Quantum Minerals Ltd. (FM) -12.53% to $38.05. Gerdau AmeriSteel Corporation (GNA) -11.76% to $5.25. Quadra Mining Ltd. (QUA)
-9.95% to $5.52.
Timminco Ltd. (TSX:TIM) lost 38% to $2.36 after the company said some customers for its solar-panel-grade silicon are asserting that their contracts have been terminated and they want their deposits back. Timminco also is considering a $15-million equity private placement.
Roger Biduk
The S&P/TSX Capped Industrials Index was down 3.02%.
Bird Construction Income Fund (BDT.UN) -9.59% to $21.50. Ballard Power Systems Inc. (BLD)
-9.27% to $2.35. Churchill Corporation (The) (CUQ) -8.07% to $9.00. ADF Group Inc. (DRX)
-6.02% to $2.03. ATS Automation Tooling Systems (ATA) -5.02% to $3.97.
Martinrea International Inc. (TSX:MRE) is taking advantage of the insolvency of SKD Co. to pay $3 million for factory equipment and other assets which in better times produced $125 million in annualized revenue. The auto parts maker's stock gained a penny to $3.91.
The S&P/TSX Capped Telecom Services Index was 1.93% lower and the S&P/TSX Capped Information Technology Index fell 3.10%.
CryptoLogic Limited (CRY) +5.18% to $6.50.
5N Plus Inc. (VNP) -11.43% to $5.50. Celestica Inc. (CLS) -8.00% to $5.52. Gennum Corporation (GND) -6.46% to $4.49.
MI Developments Inc. (TSX:MIM.A) has exited its bid to buy insolvent racetrack operator Magna Entertainment Corp., and has reduced its debtor-in-possession financing for the subsidiary's restructuring. MID shares gained seven cents to $8.72.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 2.44% lower and the S&P/TSX Consumer Staples Index fell 0.66%.
Arctic Glacier Income Fund (AG.UN) +45.35% to $2.50.
Inscape Corporation (INQ) -8.70% to $2.10.
The S&P/TSX Capped Utilities Index fell 0.34%.
The S&P/TSX Global Gold Index soared 6.65% as the April bullion contract in New York rose $19.60 to US$887.50 an ounce.
Agnico-Eagle Mines Ltd. (AEM) +10.55% to $58.59. Kinross Gold Corporation (K) +8.97% to $18.23. Richmont Mines Inc. (RIC) +8.89% to $3.92. Barrick Gold Corporation (ABX) +8.39% to $36.16. Yamana Gold Inc. (YRI) +7.66% to $9.70.
First Quantum Minerals Ltd. (FM) -12.53% to $38.05. Imperial Metals Corporation (III)
-7.89% to $3.85.
In the Service sector: Forzani Group Ltd. (The) (FGL) -10.43% to $10.99. Wajax Income Fund (WJX.UN) -7.78% to $13.510. Garda World Security Corporati (GW) -6.55% to $2.71. MacDonald, Dettwiler and Assoc (MDA) -6.47% to $25.140. Great Canadian Gaming Corporat (GC) -6.36% to $3.24.
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Stock markets dropped heavily on Monday as crude oil prices fell to the lowest level since mid-March and fears grew that big American banks are burdened by swelling bad debts.
The S&P/TSX Capped Financial Index sank 5.06%.
Franco-Nevada Corporation (FNV) +5.36% to $25.150.
Savanna Energy Services Corp. (SVY) -14.43% to $5.220. Canadian Life Companies Split (LFE) -11.96% to $4.27. Dundee Corporation (DC.A) -11.74% to $5.34. Birchcliff Energy Ltd. (BIR) -11.19% to $5.95. Brookfield Properties Corp. (BPO) -10.11% to $8.45.
Renewed worries about the U.S. banks came on word that their lending remains tight and anxiety that Washington may take big ownership stakes in banks as its $700-billion bailout fund runs down.
The S&P/TSX Capped Health Care Index was lower by 1.44%.
Theratechnologies Inc. (TH) -8.58% to $2.77.
Roger Biduk
Toronto's S&P/TSX composite index fell 311.50 points to 9,126.15, with the energy and base metals sectors contributing most to the drag.
The TSX Venture Exchange ended down 13.80 points to 975.43.
The Canadian dollar fell 1.56 cents to 80.74 cents US.
The April crude contract on the New York Mercantile Exchange tanked 8.84% to $45.88 and natural gas was down 5.05% to $3.67 as the S&P/TSX Energy Index sank 6.48%.
Eveready Inc. (EIS) +13.88% to $2.79. Heritage Oil Corporation (HOC) +8.82% to $7.40.
Ensign Energy Services Inc. (ESI) -13.23% to $12.00. Xtreme Coil Drilling Corp. (XDC)
-11.06% to $2.09. Trican Well Service Ltd. (TCW) -10.48% to $8.54. Galleon Energy Inc. (GO)
-10.40% to $4.48. Highpine Oil & Gas Limited (HPX) -10.37% to $5.53.
Precision Drilling Trust units (TSX:PD.UN) lost 8% to $4.52 on news that an Alberta government investment vehicle is taking a 15 per cent stake in the oilfield services trust. The $380 million financing is to enable Precision to restructure debt.
S&P/TSX Capped Diversified Metals & Mining Index tanked 10.13% as aluminum fell 2.96%, copper was 4.21% lower at $2.11 and silver gained 2.67% to $12.11.
Red Back Mining Inc. (RBI) +8.73% to $7.60.
Teck Cominco Limited (TCK.B) -14.78% to $9.11. First Quantum Minerals Ltd. (FM) -12.53% to $38.05. Gerdau AmeriSteel Corporation (GNA) -11.76% to $5.25. Quadra Mining Ltd. (QUA)
-9.95% to $5.52.
Timminco Ltd. (TSX:TIM) lost 38% to $2.36 after the company said some customers for its solar-panel-grade silicon are asserting that their contracts have been terminated and they want their deposits back. Timminco also is considering a $15-million equity private placement.
Roger Biduk
The S&P/TSX Capped Industrials Index was down 3.02%.
Bird Construction Income Fund (BDT.UN) -9.59% to $21.50. Ballard Power Systems Inc. (BLD)
-9.27% to $2.35. Churchill Corporation (The) (CUQ) -8.07% to $9.00. ADF Group Inc. (DRX)
-6.02% to $2.03. ATS Automation Tooling Systems (ATA) -5.02% to $3.97.
Martinrea International Inc. (TSX:MRE) is taking advantage of the insolvency of SKD Co. to pay $3 million for factory equipment and other assets which in better times produced $125 million in annualized revenue. The auto parts maker's stock gained a penny to $3.91.
The S&P/TSX Capped Telecom Services Index was 1.93% lower and the S&P/TSX Capped Information Technology Index fell 3.10%.
CryptoLogic Limited (CRY) +5.18% to $6.50.
5N Plus Inc. (VNP) -11.43% to $5.50. Celestica Inc. (CLS) -8.00% to $5.52. Gennum Corporation (GND) -6.46% to $4.49.
MI Developments Inc. (TSX:MIM.A) has exited its bid to buy insolvent racetrack operator Magna Entertainment Corp., and has reduced its debtor-in-possession financing for the subsidiary's restructuring. MID shares gained seven cents to $8.72.
Roger Biduk
The S&P/TSX Consumer Discretionary Index was 2.44% lower and the S&P/TSX Consumer Staples Index fell 0.66%.
Arctic Glacier Income Fund (AG.UN) +45.35% to $2.50.
Inscape Corporation (INQ) -8.70% to $2.10.
The S&P/TSX Capped Utilities Index fell 0.34%.
The S&P/TSX Global Gold Index soared 6.65% as the April bullion contract in New York rose $19.60 to US$887.50 an ounce.
Agnico-Eagle Mines Ltd. (AEM) +10.55% to $58.59. Kinross Gold Corporation (K) +8.97% to $18.23. Richmont Mines Inc. (RIC) +8.89% to $3.92. Barrick Gold Corporation (ABX) +8.39% to $36.16. Yamana Gold Inc. (YRI) +7.66% to $9.70.
First Quantum Minerals Ltd. (FM) -12.53% to $38.05. Imperial Metals Corporation (III)
-7.89% to $3.85.
In the Service sector: Forzani Group Ltd. (The) (FGL) -10.43% to $10.99. Wajax Income Fund (WJX.UN) -7.78% to $13.510. Garda World Security Corporati (GW) -6.55% to $2.71. MacDonald, Dettwiler and Assoc (MDA) -6.47% to $25.140. Great Canadian Gaming Corporat (GC) -6.36% to $3.24.
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Saturday, April 18, 2009
Roger Biduk; Bay Street Higher for Sixth Week
Roger Biduk
Toronto's S&P/TSX composite index moved up 94.28 points to 9,437.65.
The TSX Venture Exchange edged up 7.1 points to 989.23.
The S&P/TSX Capped Financial Index, was higher today by 2.14%.
BNS Split Corp. II (BSC) +8.46% to $7.05. Brookfield Properties Corporat (BPO) +6.70% to $9.40. Coventree Inc. (COF) +6.67% to $4.00. Financial 15 Split Corp. (FTN.PR.A) +6.26% to $8.49. Franco-Nevada Corporation (FNV.WT) +5.95% to $4.45.
Canexus Income Fund (CUS.UN) -5.78% to $3.10. AGF Management Limited (AGF.B) -5.68% to $10.63. Dynasty Metals & Mining Inc. (DMM) -5.36% to $4.59.
The Canadian dollar was down 0.37 of a cent to 82.3 cents U.S. amid signs of lower inflation. Statistics Canada reported that the headline inflation rate dipped to 1.2 per cent in March.
The S&P/TSX Consumer Discretionary Index was 0.89% higher and the S&P/TSX Consumer Staples Index rose 0.09%.
Linamar Corporation (LNR) +5.38% to $3.92. Gildan Activewear Inc. (GIL) +5.63% to $15.38.
Roger Biduk
The TSX was up 251 points or 2.7 per cent for this week.
The rally which started March 10 has sent the TSX and the Dow industrials up by about 24%.
The April crude contract on the New York Mercantile Exchange gained 0.70% to $50.35 and natural gas was up 3.61% to $3.73 as the S&P/TSX Energy Index rose 1.60%.
Stoneham Drilling Trust (SDG.UN) +59.35% to $2.47. Cathedral Energy Services Inco (CET.UN) +14.61% to $4.00. Corridor Resources Inc. (CDH) +14.29% to $2.40. Trinidad Drilling Ltd. (TDG) +10.19% to $4.54. Paramount Energy Trust (PMT.UN) +9.89% to $3.89.
OPTI Canada Inc. (OPC) -5.83% to $2.10.
The board of UTS Energy Corp. (TSX:UTS) formally recommended that shareholders reject an improved hostile takeover bid from French oil giant Total SA. Total raised its offer earlier in the week from $1.30 per share to $1.75 per share. UTS stock was unchanged at $1.83.
The S&P/TSX Capped Industrials Index was up 2.03%.
JDS Uniphase Canada Ltd. (JDU) +12.12% to $5.83. Newalta Inc. (NAL) +10.17% to $3.90. Canfor Corporation (CFP) +9.98% to $5.62. Churchill Corporation (The) (CUQ) +5.38% to $9.79.
Ballard Power Systems Inc. (BLD) -11.72% to $2.56.
Roger Biduk
The retail cost of food was up 7.9 per cent from a year ago, the biggest rise since 1986, but this was offset by lower gasoline prices. Core inflation was exactly on the Bank of Canada's target of two per cent.
The S&P/TSX Capped Telecom Services Index was 0.33% higher and the S&P/TSX Capped Information Technology Index rose 0.50%.
CryptoLogic Limited (CRY) -5.94% to $6.18. Gennum Corporation (GND) -9.43% to $4.80.
Tundra Semiconductor Corporati (TUN) +13.94% to $5.64. Torstar Corporation (TS.B) +7.27% to $5.90.
S&P/TSX Capped Diversified Metals & Mining Index declined 0.04% as aluminum was flat, copper was 0.85% higher at $2.20 and silver lost 3.79% at $11.79.
The S&P/TSX Capped Utilities Index gained 0.84%.
Gerdau AmeriSteel Corporation (GNA) +6.44% to $5.95. Timminco Limited (TIM) +5.56% to $3.80. Athabasca Potash Inc. (API) +5.00% to $3.36.
Silver Wheaton Corp. (SLW) -5.26% to $9.01. Equinox Minerals Limited (EQN) -5.12% to $2.04.
Roger Biduk
The S&P/TSX Global Gold Index fell 2.98% as the April bullion contract in New York fell $11.90 to US$867.90 an ounce.
Aquiline Resources Inc. (AQI) -10.00% to $2.43. Jaguar Mining Inc. (JAG) -6.79% to $6.04. Kinross Gold Corporation (K.WT.C) -5.63% to $3.35.
The S&P/TSX Capped Health Care Index was lower by 1.38%.
In the service sector:
World Energy Solutions Inc. (XWE) +14.75% to $7.00. Forzani Group Ltd. (The) (FGL) +10.24% to $12.27. Jazz Air Income Fund (JAZ.UN) +9.01% to $2.54.Canadian Pacific Railway Limit (CP) +6.88% to $42.10. TransForce Inc. (TFI) +6.40% to $3.99. Garda World Security Corporati (GW) -7.94% to $2.90.
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Toronto's S&P/TSX composite index moved up 94.28 points to 9,437.65.
The TSX Venture Exchange edged up 7.1 points to 989.23.
The S&P/TSX Capped Financial Index, was higher today by 2.14%.
BNS Split Corp. II (BSC) +8.46% to $7.05. Brookfield Properties Corporat (BPO) +6.70% to $9.40. Coventree Inc. (COF) +6.67% to $4.00. Financial 15 Split Corp. (FTN.PR.A) +6.26% to $8.49. Franco-Nevada Corporation (FNV.WT) +5.95% to $4.45.
Canexus Income Fund (CUS.UN) -5.78% to $3.10. AGF Management Limited (AGF.B) -5.68% to $10.63. Dynasty Metals & Mining Inc. (DMM) -5.36% to $4.59.
The Canadian dollar was down 0.37 of a cent to 82.3 cents U.S. amid signs of lower inflation. Statistics Canada reported that the headline inflation rate dipped to 1.2 per cent in March.
The S&P/TSX Consumer Discretionary Index was 0.89% higher and the S&P/TSX Consumer Staples Index rose 0.09%.
Linamar Corporation (LNR) +5.38% to $3.92. Gildan Activewear Inc. (GIL) +5.63% to $15.38.
Roger Biduk
The TSX was up 251 points or 2.7 per cent for this week.
The rally which started March 10 has sent the TSX and the Dow industrials up by about 24%.
The April crude contract on the New York Mercantile Exchange gained 0.70% to $50.35 and natural gas was up 3.61% to $3.73 as the S&P/TSX Energy Index rose 1.60%.
Stoneham Drilling Trust (SDG.UN) +59.35% to $2.47. Cathedral Energy Services Inco (CET.UN) +14.61% to $4.00. Corridor Resources Inc. (CDH) +14.29% to $2.40. Trinidad Drilling Ltd. (TDG) +10.19% to $4.54. Paramount Energy Trust (PMT.UN) +9.89% to $3.89.
OPTI Canada Inc. (OPC) -5.83% to $2.10.
The board of UTS Energy Corp. (TSX:UTS) formally recommended that shareholders reject an improved hostile takeover bid from French oil giant Total SA. Total raised its offer earlier in the week from $1.30 per share to $1.75 per share. UTS stock was unchanged at $1.83.
The S&P/TSX Capped Industrials Index was up 2.03%.
JDS Uniphase Canada Ltd. (JDU) +12.12% to $5.83. Newalta Inc. (NAL) +10.17% to $3.90. Canfor Corporation (CFP) +9.98% to $5.62. Churchill Corporation (The) (CUQ) +5.38% to $9.79.
Ballard Power Systems Inc. (BLD) -11.72% to $2.56.
Roger Biduk
The retail cost of food was up 7.9 per cent from a year ago, the biggest rise since 1986, but this was offset by lower gasoline prices. Core inflation was exactly on the Bank of Canada's target of two per cent.
The S&P/TSX Capped Telecom Services Index was 0.33% higher and the S&P/TSX Capped Information Technology Index rose 0.50%.
CryptoLogic Limited (CRY) -5.94% to $6.18. Gennum Corporation (GND) -9.43% to $4.80.
Tundra Semiconductor Corporati (TUN) +13.94% to $5.64. Torstar Corporation (TS.B) +7.27% to $5.90.
S&P/TSX Capped Diversified Metals & Mining Index declined 0.04% as aluminum was flat, copper was 0.85% higher at $2.20 and silver lost 3.79% at $11.79.
The S&P/TSX Capped Utilities Index gained 0.84%.
Gerdau AmeriSteel Corporation (GNA) +6.44% to $5.95. Timminco Limited (TIM) +5.56% to $3.80. Athabasca Potash Inc. (API) +5.00% to $3.36.
Silver Wheaton Corp. (SLW) -5.26% to $9.01. Equinox Minerals Limited (EQN) -5.12% to $2.04.
Roger Biduk
The S&P/TSX Global Gold Index fell 2.98% as the April bullion contract in New York fell $11.90 to US$867.90 an ounce.
Aquiline Resources Inc. (AQI) -10.00% to $2.43. Jaguar Mining Inc. (JAG) -6.79% to $6.04. Kinross Gold Corporation (K.WT.C) -5.63% to $3.35.
The S&P/TSX Capped Health Care Index was lower by 1.38%.
In the service sector:
World Energy Solutions Inc. (XWE) +14.75% to $7.00. Forzani Group Ltd. (The) (FGL) +10.24% to $12.27. Jazz Air Income Fund (JAZ.UN) +9.01% to $2.54.Canadian Pacific Railway Limit (CP) +6.88% to $42.10. TransForce Inc. (TFI) +6.40% to $3.99. Garda World Security Corporati (GW) -7.94% to $2.90.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com
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