Roger Biduk; Bay Street Lower on Financials & Oil

Roger Biduk;

Toronto's S&P/TSX composite index fell 191.42 points to 8,824.75.
The TSX Venture Exchange was 10.69 points lower to 952.48 while the Canadian dollar closed up 0.05 of a cent to 80.79 cents US.

The S&P/TSX Capped Financial Index, still up almost 32% over the course of the rally, was lower today by 2.73%.
Plutonic Power Corporation (PCC) +8.84% to $2.34. Resverlogix Corp. (RVX) +8.70% to $3.50.
Sentry Select Primary Metals C (PME) -9.45% to $4.12. Brompton Lifeco Split Corp. (LCS) -9.39% to $2.80. Great-West Lifeco Inc. (GWO)
-7.92% to $16.39. Home Capital Group Inc. (HCG) -7.90% to $25.41. Life & Banc Split Corp. (LBS) -7.59% to $4.75.

Shares in Canadian auto parts makers were lower even as Ottawa announced that help is on the way for the sector. Industry Minister Tony Clement said that Export Development Canada will be authorized to provide an additional $700 million to insure accounts receivable at Canada's auto parts suppliers.

Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index fell 4.47% as aluminum was flat, copper was 1.58% higher at $1.99 and silver rose 0.83% to $12.21.
Timminco Limited (TIM) +8.98% to $2.67.
Norsemont Mining Inc. (NOM) -10.48% to $2.05. Sherritt International Corpora (S) -9.91% to $3.00. Hanfeng Evergreen Inc. (HF) -7.88% to $6.90. Uranium One Inc. (UUU) -6.93% to $2.55. Quadra Mining Ltd. (QUA) -6.27% to $5.53.
Equinox Minerals Ltd. (TSX:EQN) fell 33 cents or 15.2 per cent to $1.84 after it said Monday it plans to raise about $160 million in an equity financing to fund the expansion of its Lumwana copper mine in Zambia.

Clement also told a news conference that Canadians need to be prepared for a possible filing under bankruptcy protection laws by General Motors, North America's largest auto maker.

The S&P/TSX Capped Information Technology Index fell 3.04% and the S&P/TSX Capped Telecom Services Index was 0.82% lower.
Absolute Software Corporation (ABT) +7.59% to $4.25. March Networks Corporation (MN) +9.74% to $3.38.
Research in Motion Limited (RIM) -5.16% to $74.01.

Danier Leather Inc. (TSX:DL), which makes leather and suede clothing and accessories, said after the market closed that it is cutting 78 jobs to reduce costs. The cuts are expected to save it a total of $2.6 million annually.

Roger Biduk;
The S&P/TSX Capped Industrial Index fell 1.53%.
International Forest Products (IFP.A) +5.24% to $2.21.
ATS Automation Tooling Systems (ATA) -9.71% to $3.72. Canfor Corporation (CFP) -6.32% to $4.74. Sino-Forest Corporation (TRE) -6.13% to $9.18.

In the service sector:
World Energy Solutions Inc. (XWE) +13.41% to $4.65.
Empire Co. Ltd. (TSX:EMP.A), the owner of the Sobeys grocer stores, said Monday that it has signed a deal with a syndicate of underwriters led by Scotia Capital Inc. to raise $125 million. The company said the underwriters have agreed to purchase, on a bought-deal basis, 2.5 million non-voting class A shares at a price of $49.75 per share. Its shares fell $4.96 to $49.82.

The April crude contract on the New York Mercantile Exchange declined 3.72% to $49.15 and natural gas was down 4.54% to $3.57 as the S&P/TSX Energy Index dropped 2.73%.
Flint Energy Services Ltd. (FES) +6.71% to $6.20. Heritage Oil Corporation (HOC) +5.01% to $7.34.
Pacific Rubiales Energy Corp. (PRE) -9.23% to $5.31. Breaker Energy Ltd. (WAV) -8.74% to $3.76. Avenir Diversified Income Trus (AVF.UN) -7.21% to $2.96. Trinidad Drilling Ltd. (TDG)
-7.14% to $2.73. Progress Energy Resources Corp (PRQ) -6.92% to $9.15.

Roger Biduk;
Shares in security firm Garda World (TSX:GW) jumped 22 cents or 12.9 per cent to $1.93 after it said Tuesday it has won an extension of its contract to provide passenger and baggage security screening operations at 26 airports in Canada.
The Montreal-based company said the two-year extension is worth about $300 million in revenue

The S&P/TSX Capped Utilities Index lost 0.01%.
Boralex Inc. (BLX) +9.68% to $6.23.

The S&P/TSX Global Gold Index gained 0.79% as the April bullion contract in New York rose $10.50 to US$883.30 an ounce.
Timminco Limited (TIM) +8.98% to $2.67. Flint Energy Services Ltd. (FES) +6.71% to $6.20. Centerra Gold Inc. (CG) +6.52% to $4.25. Heritage Oil Corporation (HOC) +5.01% to $7.34.
Norsemont Mining Inc. (NOM) -10.48% to $2.05. First Quantum Minerals Ltd. (FM) -6.00% to $37.13.

The S&P/TSX Consumer Discretionary Index was 1.97% lower and the S&P/TSX Consumer Staples Index lost 0.88%.
Linamar Corporation (LNR) -7.00% to $2.79.
The S&P/TSX Capped Health Care Index was lower by 0.91%.

The transportation sector was down 3.10%. YRC Worldwide Inc. (YRCW) -25.32% to $4.07. Universal Truckload (UACL) -13.86% to $13.73. Celadon Group Inc. (CLDN) -13.11% to $5.17. DryShips Inc. (DRYS) -11.15% to $4.54. Excel Maritime Carriers (EXM) -10.63% to $5.72.

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