Roger Biduk's Investment Blog on the Canadian Markets

Roger Biduk; Bay Street Lower on Gold & Oil

2009-09-19T13:15:00.003-04:00

Roger Biduk

Sliding gold and energy stocks led the way to a sharp loss on the Toronto stock market Friday, but the main index racked up gains for the week as investors grew more confident about an economic recovery.

The S&P/TSX composite index fell 82.28 points to 11,445.95 gaining 192.72 points or 1.71 per cent this week, led by rising energy and financial stocks.
The TSX Venture Exchange was up 9.06 points to 1,281.8.

A pickup in U.S. dollar strength sent the Canadian dollar down 0.26 of a cent to 93.48 cents U.S.

The gold sector led decliners, down 1.67 per cent as the December bullion contract on the New York Mercantile Exchange drifted $3.20 lower to US$1,010.30 an ounce. On the TSX, Goldcorp Inc. (TSX:G) faded 98 cents to $43.99.

Roger Biduk
The energy sector was off 1.45 per cent as the October crude contract on the New York Mercantile Exchange slid 43 cents to US$72.04 a barrel. On the TSX, EnCana Corp. (TSX:ECA) gave back $1.54 to $61.39.
Crude was up almost US$3 on the week, on hopes that the United States, the biggest oil consumer, is on the road to recovery. Still, the recession has sapped American fuel consumption, and U.S. oil stockpiles are 14 per cent larger than last year.

In economic news, Statistics Canada reported wholesale sales increased 2.8 per cent in July, mainly as a result of higher sales in the auto sector.

Elsewhere on the TSX, Canadian Pacific Railways (TSX:CP) paced a 1.27 per cent decline in the industrials sector, down $1.07 to $52.44 after analyst John Larkin of Stifel, Nicolaus & Co. cut his rating on the railroad to "sell" from "hold", saying CPR's fundamentals haven't improved enough to justify its 37 per cent increase in share price since July 10.
Elsewhere in the sector, Bombardier Inc. (TSX:BBD.B) lost 13 cents to $4.66 as it announced its rail division has received an order for 30 tram trains, which will be manufactured in Germany and Austria. The order is valued at euro129 million (US$190 million) not counting an option for 45 additional vehicles.

The base metals sector was flat even as December copper closed down 11.1 cents to US$2.785 a pound.

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Roger Biduk; Bay Street Tanks

2009-08-18T17:37:00.002-04:00

Roger Biduk

All 11 indices I follow on the TSX were lower today.

Is reality finally setting in?
I believe along with many prominent analysts that there’s lots more to go on the downside.
Markets have been going up and the news over the last two years in the U.S. regarding employment and housing has only been getting worse.

The Toronto stock market joined other indexes around the world in a sharp selloff Monday as investors sold off across all sectors on worries that the American consumer won't be much help in building a strong economic recovery.

The S&P/TSX composite index fell 316.42 points or 2.92 per cent to 10,531.59 with losses paced by a drop of more than three per cent in the energy sector as crude prices fell back on demand concerns.
The CDN$ closed down 0.61 cent to 90.32 cents U.S. after falling almost a cent on Friday while the TSX Venture Exchange backed off 33.60 points to 1,159.82.

Roger Biduk
ETFs that jumped to the upside today include:
Horizons BetaPro S&P/TSX Global Mining (HMD) +9.47% to $5.20. Horizons BetaPro MSCI Emerging Markets (HJD) +8.18% to $5.42. Horizons BetaPro S&P/TSX Global Gold bear Plus (HGD) +7.65% to $7.18. Horizons BetaPro S&P/TSX 60 Bear Plus (HXD) +5.58% to $15.90. Horizons BetaPro S&P/TSX Cap Energy Bear Plus (HED) +5.58% to $8.33. Horizons BetaPro NASDAQ-100 Bear Plus (HQD) +5.24% to $18.68.

The April crude contract on the New York Mercantile Exchange fell 1.13% to $66.75 and natural gas fell 2.28% to $3.56 as the S&P/TSX Energy Index fell 3.27%.
AltaGas Utility Group Inc. (AUI) +43.04% to $8.94.
Paramount Resources Ltd. (POU) -7.14% to $7.15. Pacific Rubiales Energy Corp. (PRE.WT)
-6.20% to $5.90. Major Drilling Group Internati (MDI) -6.09% to $22.82. Calfrac Well Services Ltd. (CFW) -5.84% to $10.48. Trican Well Service Ltd. (TCW) -5.60% to $10.29.
EnCana Corp. (TSX: ECA.TO) dropped $1.52 to $55.04 while Suncor Inc. (TSX: SU.TO) lost $1.43 to $34.41.

Evidence of weakness on the consumer front surfaced Friday in a sharp falloff in the Reuters-University of Michigan consumer sentiment index, which followed a surprisingly weak July retail sales report.

Roger Biduk
The S&P/TSX Capped Health Care Index was lower by 0.35%.
Shares pharmaceutical company Aeterna Zentaris Inc. (TSX: AEZ.TO) tumbled more than 60 per cent Monday after it said it has hit a snag in the development of its treatment for prostate problems. Its shares fell $1.90 to $1.21.

Economic concerns also forced down other commodity prices as the S&P/TSX Global Gold Index fell 3.68% as the April bullion contract in New York tanked $12.90 to US$935.80 an ounce.
Kirkland Lake Gold Inc. (KGI) -9.97% to $8.67. European Goldfields Limited (EGU) -6.82% to $3.28. Richmont Mines Inc. (RIC) -6.15% to $3.05. Lake Shore Gold Corp. (LSG) -6.07% to $3.25. Kinross Gold Corporation K. (WT.C) -5.91% to $3.98.
Goldcorp Inc. (TSX: G.TO) was down $1.31 to $37.70.

Other commodities dropped as the S&P/TSX Capped Diversified Metals & Mining Index sank 4.74% as aluminum rose .85%, copper was 2.30% lower at $2.05 and silver sank 5.07% to $13.98.
Athabasca Potash Inc. (API) -15.54% to $5.49. Pan American Silver Corp. (PAA) -9.91% to $20.28. Quadra Mining Ltd. (QUA) -8.91% to $11.14. Silvercorp Metals Inc. (SVM) -8.02% to $3.44. Western Areas NL (WSA) -7.08% to $5.25.
Teck Resources (TSX: TCK-B.TO) lost $1.08 to $27.92 while HudBay Minerals (TSX: HBM.TO) was 31 cents lower to $8.54.
Shares in fertilizer giant Agrium Inc. (TSX: AGU.TO) were down $2.55 to $50.70 after it said Monday it is extending the expiry date of its hostile takeover bid for U.S.-based CF Industries Holdings Inc.
The $4.26-billion deal, which offers US$40 in cash plus one Agrium share for each CF share, will now expire on Sept. 22.
Potash Corp. (TSX: POT.TO) fell $4.79 to $100.71.

Roger Biduk
The S&P/TSX Capped Financial Index fell 2.63%.
Savanna Energy Services Corp. (SVY) -7.44% to $5.10. Labrador Iron Ore Royalty Inco (LIF.UN) -7.37% 35.57. Sentry Select Primary Metals C (PME) -6.78% to $5.36. Canaccord Capital Inc. (CCI) -6.67% to $9.24. DundeeWealth Inc. (DW) -6.19% to $10.45.
Royal Bank (TSX: RY.TO) declined $1.26 to $50.10 while Manulife Financial (TSX: MFC.TO) lost 76 cents to $21.57.

The S&P/TSX Capped Telecom Services Index was 1.93% lower and the S&P/TSX Capped Information Technology Index fell 2.26%.
5N Plus Inc. (VNP) -7.00% to $5.58. Torstar Corporation (TS.B) -5.87% to $5.93. DragonWave Inc. (DW) -5.71% to $6.27.
Research In Motion Ltd. (TSX: RIM.TO) was down $2.19 to $78.10 as American business magazine Fortune named the BlackBerry-maker the world's fastest-growing company.

In other earnings news, high-hazard protective equipment maker Allen-Vanguard Corp. (TSX: VRS.TO) said Monday impairment charges contributed to widening losses in the third quarter while a delay of some U.S. programs led to revenue levels that fell short of expectations. The company turned in a net loss of $99.2 million for the quarter ended June 30, almost tripling year-earlier losses of $36.6 million. Its shares inched up half a cent to 12.5 cents.

Roger Biduk
In the service sector:
AutoCanada Income Fund (ACQ.UN) +12.71% to $3.37.
ACE Aviation Holdings Inc. (ACE.A) -7.19% to $4.39. Canadian Pacific Railway Limit (CP)
-5.47% to $50.10. New Flyer Industries Inc. (NFI.UN) -5.87% to $8.18.

The S&P/TSX Capped Industrials Index was down 3.41%.
Newalta Inc. (NAL) +11.04% to $7.04.
Canfor Corporation (CFP) -10.17% to $5.21. West Fraser Timber Co Ltd. (WFT) -7.85% to $26.18. TimberWest Forest Corp. (TWF.UN) -7.43% to $3.49. Rocky Mountain Dealerships Inc (RME) -6.06% to $6.20. Bombardier Inc. (BBD.B) -5.35% to $4.07.

The S&P/TSX Consumer Discretionary Index was 2.24% lower and the S&P/TSX Consumer Staples Index fell 1.03%.

The S&P/TSX Capped Utilities Index fell 1.63%.

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Roger Biduk; Bay Street Lower for Week

2009-08-17T20:04:00.002-04:00

Roger Biduk:
The Toronto stock market closed slightly higher Friday - but lost ground on the week - following a second glum dose of U.S. economic data that raised doubt about how much the American consumer can participate in the recovery.

The S&P/TSX composite index finished off the lows of the session as early losses in the financial sector disappeared and energy sector declines moderated despite a steep drop in crude prices.

The index came back from a 112-point deficit to close 22.45 points higher to 10,848.01 after the University of Michigan's consumer sentiment index for August came in at 63.2. That was much worse than the 69 reading that economists had expected and down from 66 posted in July.
The consumer report on Friday came a day after other data showed that U.S. retail sales unexpectedly dropped last month.
The TSX Venture Exchange slipped 7.08 points to 1,193.42.
The Canadian dollar gave up early momentum to move down 0.9 of a cent to 90.93 cents US.

Roger Biduk
The economic news was better in Canada as manufacturing sales increased 1.9 per cent to $39.7 billion in June, a much better showing than the 0.3 per cent dip that economists had expected.
However, Statistics Canada said that strong sales in the aerospace industry and a rise in the price of petroleum and coal products largely explain the increase. Excluding both industries, Canada's manufacturing sales would have decreased 0.5 per cent.

The TSX energy sector was off 0.48 per cent Friday as the September crude contract on the New York Mercantile Exchange gave up early advances following the release of the consumer sentiment data to tumble $3.01 to US$67.51 a barrel. Suncor Inc. (TSX:SU) dropped 61 cents to $35.84 and EnCana Corp. (TSX:ECA) moved down 60 cents to $56.56.

The TSX financial sector was up 0.48 per cent after the Irish Times reported Friday that a major Canadian bank has proposed to take a stake in Allied Irish Banks. It said that the investment would take place only after AIB's development loans move to NAMA, the National Asset Management Agency, which is being established by the Irish government to take over toxic development loans to developers.
Both CIBC (TSX:CM) and Royal Bank (TSX:RY) were mentioned as the interested buyer of a minority stake in the Irish bank, which confirmed it received interest from an unidentified third party.
But AIB said the discussions were "preliminary and are not expected to progress in the near term." Royal shares gained 65 cents to $51.36 and CIBC declined 31 cents to $67.75.

Roger Biduk
The base metals sector dropped 0.88 per cent as September copper fell back 7.8 cents to $US2.836 a pound. Teck Resources (TSX:TCK.B) was down 80 cents to $29 while Sherritt International (TSX:S) lost 11 cents to $7.33.

The December bullion contract was down $7.80 to $948.70 an ounce, taking the gold sector down 0.56 per cent. Goldcorp Inc. (TSX:G) faded 51 cents to $39.01.

A burst in the consumer discretionary sector was led by another strong showing in t-shirt maker Gildan Activewear (TSX:GIL). Its shares ran up $1.93 or 9.78 per cent to $21.66 after advancing almost 10 per cent Thursday as it said quarterly profits fell 24 per cent - but delivered an optimistic outlook.

A major decliner in Toronto was Chartwell Seniors Housing Real Estate Investment Trust(TSX:CSH.UN). Its units tumbled $1.07 or 16.2 per cent to $5.54 after the company cut its monthly cash distributions to unitholders on Thursday in a bid to preserve its cash. It said that "given the uncertain economic climate in North America management believes that recovery and growth in certain markets may take longer than previously anticipated."

On the earnings front, high priced teen retailer Abercrombie & Fitch said Friday that slumping sales led to a loss of $26.7 million, compared with a profit of $77.8 million a year earlier. However, its shares ran ahead $1.29 to US$34.25.
FNX Mining Co. Inc. (TSX:FNX) reported second-quarter profits of C$12.5 million, up from year-earlier net earnings of $11.3 million. Revenue was down 45 per cent to $61.9 million and its shares rose 51 cents to $9.88. Linamar Corp. (TSX:LNR) saw a $48.4-million loss in the second quarter, but the auto parts company said it well positioned for a turnaround with hundreds of millions of dollars in new business set to begin production this year. Its shares fell 74 cents to $12.35.

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Roger Biduk - Bay Street Lower on Financials

2009-08-12T19:55:00.001-04:00

Roger Biduk
The Toronto stock market tumbled as investors took profits from the five-month-old rally following a warning about the financial sector's health and ahead of Wednesday's interest rate announcement by the U.S. Federal Reserve.

The S&P/TSX Capped Financial Index fell 2.60%.
Royal Host Real Estate Investment (RYL.UN) -9.02% to $2.42. Melcor Developments Ltd. (MRD) -7.11% to $8.10. Plutonic Power Corporation (PCC) -6.85% to $2.99. H & R Real Estate Investment T (HR.UN)
-5.22% to $13.06. Sun Life Financial Inc. (SLF)
-5.20% to $31.57.

Financial sector losses picked up following comments from U.S. analyst Richard Bove of Rochdale Securities, who said that U.S. bank earnings are unlikely to improve in the second half and that many firms may post losses. He said investors should lock in profits after a surge in bank stocks since early March.
Also, U.S. bank CIT Group warned of "substantial doubt" regarding its ability to continue as a going concern, due to "on-going stress in the credit markets, operating losses, credit ratings downgrades, and regulatory and cash restrictions."

S&P/TSX Capped Diversified Metals & Mining Index fell .90% as aluminum fell 1.45%, copper was 1.23% lower at $2.05 and silver was flat at $14.35.
Osisko Mining Corporation (OSK) +6.39% to $7.49.
Migao Corporation (MGO) -10.42% to $6.96. Thompson Creek Metals Company (TCM.WT)
-8.19% to $6.95.

Roger Biduk
The S&P/TSX composite index dropped 164.2 points to 10,629.47. The TSX loss followed a 92-point slide Monday. However, the Toronto market is still ahead more than 40 per cent since the start of the rally in early March, reflecting general optimism that the economy is recovering.
The TSX Venture Exchange declined 8.37 points to 1,176.84.

The S&P/TSX Capped Telecom Services Index was .14% higher and the S&P/TSX Capped Information Technology Index fell 0.26%.
SXC Health Solutions Corp. (SXC) +7.52% to $44.19.

The CDN$ closed down 1.06 cents to 90.79 cents US as the American dollar continued to rally in the wake of Friday's much better than expected jobless report for last month.

The April crude contract on the New York Mercantile Exchange fell 1.63% to $69.45 and natural gas fell 2.75% to $3.54 as the S&P/TSX Energy Index fell 1.67%.

The S&P/TSX Capped Industrials Index was down 0.91%.
Rocky Mountain Dealerships Inc (RME) +13.33% to $5.10.
Bombardier Aerospace (TSX:BBD.B) shares were down 27 cents to $4.06 after the company cancelled an order from Italy's My Air for 15 of its CRJ1000 aircraft as the carrier faces an "uncertain situation." Italy's civil aviation authority suspended My Air's licence last month due to financial troubles at the airline.

Roger Biduk
In the Service sector:
Great Canadian Gaming Corporation (GC) +14.02% to $6.83.

On the Canadian economic front, Canada Mortgage and Housing Corp. said the seasonally adjusted annual rate of housing starts decreased to 132,100 units in July from 137,800 units in June, mainly because of weakness in the multiple starts segment.

The S&P/TSX Consumer Discretionary Index was 1.34% lower and the S&P/TSX Consumer Staples Index fell 0.83%.
Cascades Inc. (CAS) +9.43% to $5.80. ZCL Composites Inc. (ZCL) +5.26% to $4.00.

In earnings news, hardware and home improvement retailer Rona Inc. (TSX:RON) says a drop in housing starts led to a seven per cent dip in second-quarter sales and a reduction in profits for the period. Rona booked profits of $60.8 million, down from $76.6 million a year ago and its shares added two cents to $14.35.
Shares in Leon's Furniture Ltd. (TSX:LNF) rose five cents to $10.10 after the Toronto-based retailer said its profit last quarter was $8.62 million, 26 per cent lower than the same time last year. Total sales including franchise stores fell to $209.9 million from $224.7 million, a decline of $14.7 million.

Roger Biduk
The S&P/TSX Capped Utilities Index fell 0.51%.

Tissue maker and cardboard producer Cascades Inc. (TSX:CAS) said Tuesday it turned a profit of $30 million during the second quarter despite a modest dip in sales. The showing reversed a year-earlier loss of $25 million and its shares jumped 50 cents to $5.80.

The S&P/TSX Global Gold Index fell .20% as the April bullion contract in New York gained $.70 to US$947.60 an ounce.

After the market closed, Brookfield Asset Management (TSX:BAM.A) and Brookfield Properties (TSX:BPO) announced a plan to form a $4-billion consortium with other institutional investors to invest in under-performing real estate in several regions of the world.
Brookfield has allocated $1 billion to the consortium with opportunities in the office sector being funded by Brookfield Properties and opportunities in other sectors being funded by Brookfield Asset Management.

The S&P/TSX Capped Health Care Index was higher by 0.77%.
Paladin Labs Inc. (PLB) -6.81% to $17.94.

Roger Biduk, Bay Street Starting to Show Cracks

2009-04-30T22:02:00.001-04:00

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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Roger Biduk; Bay Street Higher on U.S. Hopes

2009-04-29T22:05:00.002-04:00

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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Roger Biduk; Bay Street Lower for Second day

2009-04-28T20:51:00.002-04:00

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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Roger Biduk; Bay Street Lower on Energy & Flu

2009-04-27T20:53:00.002-04:00

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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Roger Biduk; Bay Street Higher on Lousy News

2009-04-23T22:16:00.002-04:00

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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Roger Biduk; Small Gains for Bay Street

2009-04-22T22:20:00.002-04:00

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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Roger Biduk; Bay Street Higher

2009-04-21T19:21:00.001-04:00

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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Roger Biduk; Bay Street Lower on Oils & Financials

2009-04-20T21:43:00.003-04:00

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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Roger Biduk; Bay Street Higher for Sixth Week

2009-04-18T16:54:00.002-04:00

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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Roger Biduk; Financials Lift Bay Street

2009-04-15T21:49:00.002-04:00

Roger Biduk.

A late day burst of strength from the financial sector sent the Toronto stock market slightly higher Wednesday.

The S&P/TSX Capped Financial Index, was higher today by 1.06%.
AGF Management Limited (AGF.B) +15.03% to $9.95. Sun Gro Horticulture Income Fu (GRO.UN) +13.64% to $2.50. STRATA Income Fund (STW.UN) +7.83% to $2.34. Fairfax Financial Holdings Lim (FFH) +5.80% to $327.99. Uranium Participation Corporat (U) +5.03% to $7.10.

Toronto's S&P/TSX composite index closed 14.49 points higher at 9,246.11.
The TSX Venture Exchange gained 11.02 points to 987.94 while the CDN$ was up 0.74 of a cent to 83.11 cents US.

The showing still leaves the TSX up about 20 per cent from a spring rally that got under way March 10, after indexes reached multi-year lows.

Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.18% lower and the S&P/TSX Consumer Staples Index rose 0.42%.

The U.S. Energy Department said that crude inventories grew by 5.6 million barrels, or 1.6 per cent, to 366.7 million barrels, which is 16.5 per cent above year-ago levels. That's the highest level since 1990 and more than twice the increase that had been expected.
The April crude contract on the New York Mercantile Exchange lost 0.32% to $49.25 and natural gas was up 0.11% to $3.69 as the S&P/TSX Energy Index fell 0.59%. There’s indications that falling demand is lifting U.S. crude stocks far more than expected.
OPTI Canada Inc. (OPC) +7.04% to $2.28. Vero Energy Inc. (VRO) +6.93% to 4.01. Phoenix Technology Income Fund (PHX.UN) +5.44% to $8.14.
Addax Petroleum Corporation (AXC) -5.21% to $31.27. Petrominerales Ltd. (PMG) -6.85% to $10.20.

The S&P/TSX Capped Industrials Index was up 0.01%.
Ballard Power Systems Inc. (BLD) +8.15% to $2.92. TimberWest Forest Corp. (TWF.UN) +5.02% to $3.35.

Roger Biduk
The S&P/TSX Capped Telecom Services Index was 1.36% higher.
Canwest Global Communications Corp. (TSX:CGS) said Tuesday that its Canwest Media Inc. subsidiary has been given another extension on a US$30.4-million interest payment that was due on its debt. The deal gives the company until April 21, the same deadline set by the company's senior lenders, to come up with a solution. Its shares rose two cents to 25 cents Cdn.

The S&P/TSX Capped Information Technology Index fell 1.01%.
Gennum Corporation (GND) +11.41% to $5.37.

S&P/TSX Capped Diversified Metals & Mining Index gained 0.86% as aluminum fell 1.79%, copper was 3.78% higher at $2.21 and silver gained 0.27% at $12.80.
Athabasca Potash Inc. (API) +9.86% to $3.23. Uranium One Inc. (UUU) +5.40% to $2.93.

Roger Biduk
The S&P/TSX Capped Utilities Index gained 0.01%.
Canadian Hydro Developers Inc (KHD) -7.86% to $2.58.

The S&P/TSX Global Gold Index rose 0.14% as the April bullion contract in New York fell $1.50 to US$893.50 an ounce.
Centerra Gold Inc. (CG) +7.68% $5.19. Jaguar Mining Inc. (JAG) +7.35% to $6.57.
NovaGold Resources Inc (NG) -5.76% to $3.11. Banro Corporation (BAA) -7.34% to $2.40.
Shares in developing gold miner NovaGold Resources Inc. (TSX:NG) declined 19 cents to C$3.11 after the company posted a first-quarter loss of $28.5 million versus year-ago profit of $24.2 million.
The S&P/TSX Capped Health Care Index was lower by 1.32%.

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Roger Biduk; Commodities Lower as Bay Street Drops

2009-04-14T21:39:00.002-04:00

Roger Biduk;

Stock markets closed lower Tuesday after a surprisingly weak U.S. retail sales report helped persuade investors to take some profits from the spring rally.

The S&P/TSX Consumer Discretionary Index was 0.14% lower and the S&P/TSX Consumer Staples Index rose 0.64%.
Cascades Inc. (CAS) +5.93% to $2.86. Linamar Corporation (LNR) +5.07% to $3.73.

Toronto's S&P/TSX composite index closed 54 points lower at 9,231.62 led by declines in commodity stocks.
Still, the main TSX index is up more than 20 per cent since the start of the current rally March 10.
The TSX Venture Exchange was down 3.94 points to 976.92 while the Canadian dollar was up 0.36 of a cent to 82.37 U.S.

Roger Biduk;
The energy sector was the biggest TSX drag The April crude contract on the New York Mercantile Exchange lost 1.28% to $49.41 and natural gas was up 1.67% to $3.71 as the S&P/TSX Energy Index fell 2.09%.
Bankers Petroleum Ltd. (BNK) +15.64% to $2.07. OPTI Canada Inc. (OPC) +15.14% to $2.13. Crew Energy Inc. (CR) +9.98% to $5.18. Trinidad Drilling Ltd. (TDG) +9.86% to $3.90. NuVista Energy Ltd. (NVA) +7.65% to $7.18.

The industrials sector was also weak, The S&P/TSX Capped Industrials Index was down 1.71%.
Ballard Power Systems Inc. (BLD) -8.11% to $2.72.
International Forest Products (IFP.A) +8.70% to $2.50. Sino-Forest Corporation (TRE) +6.81% to $10.20. Canfor Corporation (CFP) +6.08% to $5.06. Newalta Inc. (NAL) +5.14% to $3.48. West Fraser Timber Co Ltd. (WFT) +5.04% to $24.99.

The telecom sector was weak as the S&P/TSX Capped Telecom Services Index was 1.14% lower.
Shares in Telus Corp. (TSX:T) fell back $1 to $30 after it said Tuesday its capital spending this year includes $700 million focused on wireless and wireline broadband infrastructure in Alberta. Overall capital investment planned by Canada's second-largest telecommunications operator remains at the $2.05-billion figure confirmed in February.
Shares in Canwest Global Communications Corp. (TSX:CGS) were down two cents to 23 cents and earlier hit an all time low of 20 cents. The slide came after Moody's Investors Service downgraded Canwest Media Inc., a key part of the company, and said it's unlikely it will repay $30.4 million of interest due on Tuesday.

Roger Biduk;
The tech sector was the biggest gainer as the S&P/TSX Capped Information Technology Index rose 1.72%.
Torstar Corporation (TS.B) +7.29% to $5.59. Absolute Software Corporation (ABT) +6.67% to $5.12.

The S&P/TSX Capped Financial Index, was higher today by 0.15%.
Financial 15 Split Corp. II (FFN) +10.27% to $4.08. R Split III Corp. (RBS) +6.97% to $6.75. Global Uranium Fund Inc. (GUR) +6.80% to $2.20. Primaris Retail Real Estate In (PMZ.UN) +5.92% to $10.20. Dividend 15 Split Corp. (DFN) +5.50% to $7.86.
Energy Plus Income Trust (EPF.UN) -5.68% to $4.65.

S&P/TSX Capped Diversified Metals & Mining Index dropped 2.40% as aluminum fell 1.79%, copper was 0.51% lower at $2.13 and silver was unchanged at $12.77.
Athabasca Potash Inc. (API) +6.91% to $2.94.
Quadra Mining Ltd. (QUA) -5.09% to $6.15. New Gold Inc. (NGD) -5.88% to $2.08. Inmet Mining Corporation (IMN) -6.76% to $36.00.
Denison Mines Corp. (TSX:DML) shares were up 21 cents to $1.51 after it said it has struck a deal for Korea Electric Power Corp. to take a 19.9 per cent stake in the mid-tier uranium producer. The company is mired in debt and waiting desperately for an upturn in uranium prices.

The S&P/TSX Capped Utilities Index lost 0.29%.

The S&P/TSX Global Gold Index fell 1.12% as the April bullion contract in New York fell $3.80 to US$892.00 an ounce.
Imperial Metals Corporation (III) +5.43% to $4.08.
The S&P/TSX Capped Health Care Index was higher by 0.32%.

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Roger Biduk; Bay Street Higher on Financials and Energy

2009-04-09T00:04:00.003-04:00

Roger Biduk;
The Toronto stock market closed sharply higher Wednesday on rising energy and financial stocks after three down days on the markets.
The S&P/TSX Capped Financial Index, was higher today by 1.30%.
Sun Gro Horticulture Income Fu (GRO.UN) +11.38% to $2.74. Freehold Royalty Trust (FRU.UN) +5.93% to $10.72. Horizons BetaPro S&P/TSX Cap E (HEU) +5.29% to $4.98. Sun Life Financial Inc.(SLF) +5.26% to $25.00.
Plutonic Power Corporation (PCC) -5.56% to $2.21.

Toronto's S&P/TSX composite index surged 144.53 points to 8,969.28.
The TSX Venture Exchange was off 1.78 points to 950.70.
The rally has so far boosted the TSX about 18 per cent and the Dow 20 per cent.

S&P/TSX Capped Diversified Metals & Mining Index rose 3.58% as aluminum rose 1.12%, copper was 0.43% higher at $2.00 and silver rose 1.06% to $12.34.
Timminco Limited (TIM) +14.23% to $3.05.
Teck Cominco Limited (TCK.B) +9.79% to $8.75 after it said it has sold about 5.6 million common shares of Kinross Gold Corp. (TSX:K), raising about US$101 million for the debt-plagued Vancouver mining giant.

Roger Biduk;
The CDN$ rose 0.03 of a cent to 80.82 cents U.S. as Canada Mortgage and Housing Corp. reported that the seasonally adjusted annual rate of housing starts increased to 154,700 units in March from 136,100 units in February.

The TSX energy sector shook off early losses after crude inventories rose less than analysts forecast last week, climbing by 1.7 million barrels, against an expected increase of 2.3 million barrels.
The April crude contract on the New York Mercantile Exchange gained 0.47% to $49.38 and natural gas was up 1.91% to $3.63 as the S&P/TSX Energy Index rose 2.94%.
Trinidad Drilling Ltd. (TDG) +11.72% to $3.05. Eveready Inc. (EIS) +8.57% to $2.28. Paramount Energy Trust (PMT.UN) +8.18% to $3.57. Avenir Diversified Income Trus (AVF.UN) +6.42% to $3.15. Nexen Inc. (NXY) +6.19% to $23.49.
Angle Energy Inc. (NGL) -6.43% to $3.64.

Canadian investors also took in earnings reports from the retail and media sectors.
The Forzani Group Ltd. (TSX:FGL), owner of chains such as Athletes World, reported profit of $24.2 million for the quarter ended Feb. 1, down from $28.7 million a year earlier amid slumping sales. But its shares advanced 16 cents to $9.45.

Roger Biduk;
The S&P/TSX Capped Information Technology Index rose 3.01% and the S&P/TSX Capped Telecom Services Index was 0.10% higher.
EXFO Electro-Optical Engineeri (EXF) +5.12% to $4.72. Absolute Software Corporation (ABT) +10.59% to $4.70.

Shares in clothing retailer Reitmans (Canada) Ltd. (TSX:RET.A) fell $1.51 or 13 per cent to $9.99 as fourth-quarter net earnings plummeted 75.8 per cent to $9 million on Quebec income tax reassessments. Sales slid 2.9 per cent to $261.8 million.

The S&P/TSX Capped Industrial Index rose 1.29%.
Ballard Power Systems Inc. (BLD) +13.33% to $2.38. International Forest Products (IFP.A) +6.33% to $2.35. Aecon Group Inc. (ARE) +5.19% to $11.15.

Cable provider Shaw Communications Inc. (TSX:SJR.B) says its second-quarter profit fell to $156 million from a year-earlier $113 million, but revenues improved 10 per cent. Shaw said the lower earnings were due to a variance in the amount of tax recovery it received in the comparable quarters and its shares climbed 14 cents to $19.45.

Roger Biduk;
In the service sector:
Garda World Security Corporati (GW) +29.02% to $2.49. Groupe Aeroplan Inc. (AER) +7.94% to $7.75. Great Canadian Gaming Corporat (GC) +6.52% to $2.94.
Reitmans (Canada) Limited (RET) -10.90% to $8.91. Softchoice Corporation (SO) -5.42% to $2.62.

Corus Entertainment Inc. (TSX:CJR.B) said Wednesday its quarterly net profit came in at $29 million, a drop from net income of $35.4 million during the same quarter the year before. Its shares were ahead 43 cents to $14.26.

The S&P/TSX Capped Utilities Index gained 0.14%.
Canadian Hydro Developers Inc (KHD) +7.20% to $2.53.

The S&P/TSX Global Gold Index gained 0.10% as the April bullion contract in New York rose $2.60 to US$885.90 an ounce.
Banro Corporation (BAA) +10.05% to $2.08. Richmont Mines Inc. (RIC) +5.62% to $4.32.

The S&P/TSX Consumer Discretionary Index was 0.32% higher and the S&P/TSX Consumer Staples Index lost 0.06%.

The S&P/TSX Capped Health Care Index was higher by 3.15%. Theratechnologies Inc. (TH) +5.50% to $2.30.

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Roger Biduk; Bay Street Lower on Financials & Oil

2009-04-07T19:43:00.002-04:00

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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Roger Biduk; Bay Street Trims Losses

2009-04-07T00:37:00.001-04:00

Roger Biduk;

Toronto's S&P/TSX composite index revived from a 147-point loss to close off 49.59 points at 9,016.17. Early declines in the energy sector mended even as the June crude contract in New York receded $1.46 to US$51.05 a barrel.
The TSX Venture Exchange was 12.42 points lower to 963.17.

S&P/TSX Capped Diversified Metals & Mining Index fell 2.64% as aluminum lost 1.11%, copper was 2.07% lower at $1.96 and silver was 4.91% lower to $12.11.
Red Back Mining Inc. (RBI) -6.23% to $7.080. Ivanhoe Mines Ltd. (IVN) -5.95% to $7.590. Silver Wheaton Corp. (SLW) -5.57% to $9.32.
Shares in Teck Cominco Ltd. (TSX:TCK.B) declined five cents to $8.40 after it sold an interest in production at its Andacollo mine in Chile to Royal Gold. The Vancouver-based mining giant valued the deal at US$300 million, as it struggles under a huge debt burden arising from its $14-billion acquisition of Fording Canadian Coal Trust last year.
Shares in Potash Corp. (TSX:POT) moved down $1.44 to $103.65 after unionized workers at its Lanigan mine ratified a new contract. The union says wages in general will rise 18 per cent over three years and certain jobs will have a bigger increase.

Roger Biduk;
The Canadian dollar declined 0.53 of a cent to 80.74 cents US after Statistics Canada reported that the value of building permits fell 15.9 per cent to $3.7 billion in February, largely due to a 30.5 per cent plunge in non-residential activity centred in Ontario.
The S&P/TSX Capped Information Technology Index gained 2.46% and the S&P/TSX Capped Telecom Services Index rose 0.84%.
Research in Motion Limited (RIM) +7.20% to $78.04. Aastra Technologies Limited (AAH) +5.82% to $20.90.
March Networks Corporation (MN) -10.72% to $3.08.

Indexes in Toronto and New York sustained early triple-digit declines amid new concerns about the American financial sector and nervousness ahead of first-quarter corporate reports.
Financials, particularly in the U.S., were jolted as analyst Mike Mayo at Calyon Securities warned of "the ongoing consequences of increased risk-taking by banks." Mayo predicted loan losses relative to total loans will become worse than during the Great Depression.

The S&P/TSX Capped Financial Index lost 0.75%.
Resverlogix Corp. (RVX) -12.97% to $3.22. Prime Rate Plus Corp. (PPL) -7.13% to $5.86. Noranda Income Fund (NIF.UN) -6.38% to $2.79. Dundee Corporation (DC.A) -6.38% to $5.14. Morguard Real Estate Investmen (MRT.UN) -5.66% to $9.34.

Roger Biduk;
The S&P/TSX Capped Industrial Index rose 0.81%.
Mega Brands Inc. (TSX:MB) tumbled 8.5 cents or 16 per cent to 44.5 cents after the toymaker reported deeper losses - US$323.3 million in its latest quarter.

The April crude contract on the New York Mercantile Exchange declined 2.78% to $51.05 and natural gas was down 1.83% to $3.69 as the S&P/TSX Energy Index dropped 0.73%.
Eveready Inc. (EIS) -10.92% to $2.120.

The S&P/TSX Capped Utilities Index lost 0.24%.

The S&P/TSX Global Gold Index dropped 3.21% as the April bullion contract in New York sank $24.50 to US$872.80 an ounce.
Comaplex Minerals Corp. (CMF) -10.03% to $3.05. Alamos Gold Inc. (AGI) -9.46% to $7.850. Keegan Resources Inc. (KGN) -8.16% to $2.25. Greystar Resources Ltd. (GSL) -7.89% to $3.50. Guyana Goldfields Inc. (GUY) -7.84% to $2.94.

Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 0.46% lower and the S&P/TSX Consumer Staples Index gained 0.82%.
Vicwest Income Fund (VIC.UN) +9.09% to $9.00.
Gildan Activewear Inc. (GIL) -6.19% to $10.91.

The S&P/TSX Capped Health Care Index was higher by 0.19%.

In the service sector:
Softchoice Corporation (SO) +34.88% to $2.90. Data Group Income Fund (The) (DGI.UN) +8.33% to $3.25.
Jazz Air Income Fund (JAZ.UN) -7.39% to $2.130. Intermap Technologies Corporat (IMP)
-7.56% to $2.20.
WestJet Airlines Ltd. (TSX:WJA) descended 40 cents to $11.85 after it filled 81.9 per cent of its seats last month, down from a load factor of 86.6 per cent in March 2008.

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Roger Biduk; Bay Street Flat After Four-Week Gain

2009-04-03T19:39:00.002-04:00

Roger Biduk;

The Toronto stock market closed little changed Friday as investors stepped back at the end of a fourth consecutive positive week.
Toronto's S&P/TSX composite index moved 7.38 points lower to 9,065.76, closing above the 9,000-mark for the first time since February 9 and leaving the main index modestly positive for the year to date.
The TSX Venture Exchange edged 2.89 points lower to 975.38 while the Canadian dollar was up 0.68 of a cent to 81.27 cents US.

S&P/TSX Capped Diversified Metals & Mining Index rose 3.19% as aluminum rose 3.44%, copper was 5.85% higher at $2.00 and silver was 2.23% lower to $12.74.
Sherritt International Corpora (S) +7.76% to $3.47. Trinidad Drilling Ltd. (TDG) +6.67% to $3.04. Inmet Mining Corporation (IMN) +5.69% to $35.46.
Pan American Silver Corp. (PAA) -8.48% to $20.40. Red Back Mining Inc. (RBI) -7.93% to $7.55. Silver Wheaton Corp. (SLW) -7.24% to $9.87. Forsys Metals Corp. (FSY) -5.65% to $4.51.

Losses were led by energy and particularly gold stocks and would have been higher had it not been for a solid earnings report that drove up the value of Research In Motion Ltd.

Roger Biduk;
The S&P/TSX Capped Information Technology Index soared 6.85% and the S&P/TSX Capped Telecom Services Index dropped 1.88%.
March Networks Corporation (MN) +14.62% to $3.45. Celestica Inc. (CLS) +10.97% to $5.16.
Research In Motion Ltd. (RIM.TO) shares soared $11.81 or 19.35 per cent to C$72.80 after the BlackBerry maker beat analyst expectations by a wide margin and posted a US$518.3 million in profit for its fourth quarter. The company's outlook was also stronger than expected while co-CEO Jim Balsillie said that about 70 per cent of net new subscriber accounts came from consumers, who now represent about half of the total BlackBerry subscriber account base.

The S&P/TSX Capped Industrial Index rose 0.81%.
Ballard Power Systems Inc. (BLD) +15.05% to $2.37. West Fraser Timber Co Ltd. (WFT) +5.86% to $23.68. Canfor Corporation (CFP) +5.33% to $4.94. BFI Canada Ltd. (BFC) +5.15% to $10.20.
Sino-Forest Corporation (TRE) -6.80% to $9.46.

The April crude contract on the New York Mercantile Exchange declined 0.25% to $52.51 and natural gas was up 0.50% to $3.80 as the S&P/TSX Energy Index dropped 0.02%.
Pacific Rubiales Energy Corp. (PRE) +9.26% to $5.90. North American Energy Partners (NOA) +8.15% to $4.51. Trinidad Drilling Ltd. (TDG) +6.67% to $3.04. Badger Income Fund (BAD.UN) +5.38% to $12.74.
Insignia Energy Ltd. (ISN) -7.27% to $2.55. Bucking Horse Energy Inc. (BUC) -6.32% to $4.45. Flint Energy Services Ltd. (FES) -6.26% to $5.99. Destiny Resource Services Corp (DSC) -5.83% to $2.10.

Roger Biduk;
The S&P/TSX Capped Utilities Index lost 0.80%.
Superior Plus Corp. (SPB) +6.64% to $10.12.
EPCOR Power L.P. (EP.UN) -5.12% to $12.98.

The S&P/TSX Capped Financial Index gained 2.50%.
Sun Gro Horticulture Income Fu (GRO.UN) +25.00% to $2.10. Brookfield Properties Corporat (BPO) +12.28% to $8.23. Connor, Clark & Lunn Global Fi (GFT.UN) +10.07% to $4.70. Sceptre Investment Counsel Lim (SZ) +7.43% to $4.05. First Asset Yield Opportunity (FAY.UN) +6.68% to $13.90.
Franco-Nevada Corporation (FNV.WT) -20.35% to $4.50. iShares CDN S&P/TSX Global Gol (XGD) -7.12% to $19.06. Franco-Nevada Corporation (FNV) -6.43% to $25.18.

The S&P/TSX Global Gold Index tanked 7.25% as the April bullion contract in New York sank $11.60 to US$897.30 an ounce.
Norsemont Mining Inc. (NOM) +22.05% to $2.38. First Quantum Minerals Ltd. (FM) +8.03% to $41.19.
Moto Goldmines Limited (MGL) -9.39% to $2.80. Semafo INC. (SMF) -7.83% to $2.00. Jaguar Mining Inc. (JAG) -7.81% to $6.85. European Goldfields Limited (EGU) -7.79% to $2.96. Kinross Gold Corporation (K) -7.76% to $19.60.

Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 1.82% higher and the S&P/TSX Consumer Staples Index lost 2.05%.
Gildan Activewear Inc. (GIL) +7.49% to $11.63.

The S&P/TSX Capped Health Care Index was lower by 1.69%.

In the service sector:
Intermap Technologies Corporat (IMP) +13.33% to $2.38. Great Canadian Gaming Corporat (GC) +6.62% to $2.90. Transat A.T. Inc (TRZ.B) +6.19% to $8.92.

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Roger Biduk; Bay Steet Higher on U.S. Reports

2009-04-01T21:15:00.003-04:00

Roger Biduk;

Stock markets rose sharply on the first day of the second quarter, as better than expected readings on U.S. vehicle sales, manufacturing and construction persuaded investors to extend a three-week-old rally.
Indexes started the day negatively as other data suggested deep American job losses but then started going higher.

S&P/TSX Capped Diversified Metals & Mining Index soared 7.16% as aluminum was flat, copper was also flat at $1.85 and silver was $.01 lower to $12.98.
Forsys Metals Corp. (FSY) +17.00% to $4.680. Gerdau AmeriSteel Corporation (GNA) +13.68% to $4.32. Teck Cominco Limited (TCK.B) +10.64% to $7.80. Consolidated Thompson Iron Min (CLM) +10.04% to $2.85. Ivanhoe Mines Ltd. (IVN) +9.90% to $8.55.

Toronto's S&P/TSX composite index closed with a gain of 221.43 points to 8,941.82, led by the financial and energy sectors. New York's Dow Jones industrial average ran up 152.68 points to 7,761.60.
The TSX Venture Exchange gained 13.28 points to 970.09. The Canadian dollar added 0.02 of a cent to 79.30 cents US as Bank of Canada governor Mark Carney said the economy could continue to contract into the second half of this year, and recovery will likely take longer than expected.

Roger Biduk;
The S&P/TSX Capped Industrial Index gained 0.91%.
JDS Uniphase Canada Ltd. (JDU) +11.89% to $4.61. GLV Inc. (GLV.A) +7.59% to $7.09. Churchill Corporation (The) (CUQ) +5.81% to $9.10. Heroux-Devtek Inc. (HRX) +5.00% to $4.20.

Wednesday's performance extended a rally that started just over three weeks ago and has lifted the TSX about 18 per cent after the main index had sold off to 2004 levels.

The S&P/TSX Capped Information Technology Index rose 2.75% and the S&P/TSX Capped Telecom Services Index gained 2.07%.
Gennum Corporation (GND) +8.43% to $4.50. Descartes Systems Group Inc. (DSG) +7.50% to $3.87. Celestica Inc. (CLS) +7.42% to $4.78. Research in Motion Limited (RIM) +5.89% to $57.70.

The S&P/TSX Capped Utilities Index gained 0.39%.

Roger Biduk;
The April crude contract on the New York Mercantile Exchange dropped 3.03% to $48.39 and natural gas was down 2.16% to $3.68 as the S&P/TSX Energy Index gained 2.72%.
The index was higher even as U.S. crude inventories rose more than expected last week and gasoline stockpiles increased.
Major Drilling Group Internati (MDI) +10.10% to $13.30. Crew Energy Inc. (CR) +8.70% to $4.25. Corridor Resources Inc. (CDH) +7.89% to $2.05. Paramount Energy Trust (PMT.UN) +5.81% to $3.28. Nexen Inc. (NXY) +5.29% to $22.51.
Cathedral Energy Services Inco (CET.UN) -5.68% to $3.49.

The S&P/TSX Capped Financial Index gained 2.70%.
Premium Income Corporation (PIC.A) +7.78% to $2.91. 5Banc Split Inc. (FBS.B) +7.37% to $3.06. Fairborne Energy Ltd. (FEL) +6.64% to $3.21. Kingsway Financial Services In (KFS) +6.50% to $2.62. Manulife Financial Corporation (MFC) +6.20% to $15.08.
Multi Select Income Trust (MST.UN) -11.47% to $3.01. Cominar Real Estate Investment (CUF.UN) -9.08% to $12.51.

The S&P/TSX Global Gold Index gained 4.36% as the April bullion contract in New York gained $2.70 to US$927.70 an ounce.
Gabriel Resources Ltd. (GBU) +11.67% to $2.68. Guyana Goldfields Inc. (GUY) +11.56% to $3.28. Moto Goldmines Limited (MGL) +9.59% to $3.20. US Gold Corporation (UXG) +8.75% to $2.86. Allied Nevada Gold Corp. (ANV) +8.50% to $7.91.

Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 0.89% higher and the S&P/TSX Consumer Staples Index gained 1.17%.
INSCAPE Corporation (INQ) +23.76% to $2.24. Maple Leaf Foods Inc. (MFI) +5.05% to $8.53.

The S&P/TSX Capped Health Care Index was higher by 0.42%.

In the service sector:
Sears Canada Inc. (SCC) +8.96% to $20.67. TransForce Inc. (TFI) +8.53% to $3.69. Altus Group Income Fund (AIF.UN) +7.69% to $7.00. Chateau Inc. (Le) (CTU.A) +7.61% to $8.34. Cossette Inc. (KOS) +7.52% to $3.43.
Jazz Air Income Fund (JAZ.UN) -16.35% to $2.66. Cargojet Income Fund (CJT.UN) -6.38% to $2.64. Groupe Aeroplan Inc. (AER) -5.23% to $7.43.

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Roger Biduk; Bay Street Sinks on Autos & Energy

2009-03-30T21:30:00.005-04:00

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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Roger Biduk; Bay Street Down on Profit Taking

2009-03-27T21:31:00.001-04:00

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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Roger Biduk; Bay Street Lower on Oils and Financials

2009-03-25T22:48:00.003-04:00

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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Roger Biduk; Financials & Energy Sink Bay Street

2009-03-24T22:15:00.002-04:00

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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Roger Biduk; Financials and Energy Rally Bay Street

2009-03-24T00:37:00.002-04:00

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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Roger Biduk; Bay Street Lower After Eight Day Rally

2009-03-20T22:23:00.002-04:00

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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Roger Biduk; Bay Street Rises on Commodities for Eighth Session

2009-03-19T23:15:00.005-04:00

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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Roger Biduk; Seven in a Row for Bay Street

2009-03-18T23:18:00.003-04:00

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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Roger Biduk; Financials Lead Bay Street Higher Again

2009-03-17T21:14:00.002-04:00

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.

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Roger Biduk; Five in a Row for Bay Street.

2009-03-16T22:10:00.002-04:00

Roger Biduk;

The Toronto stock market again rallied Monday with gains again led by banks and insurance companies as fresh hopes the recession could end during 2009 extended sharp gains to a fifth day.

Toronto's S&P/TSX composite index gave up more than half of early gains but still closed up 83.32 points to 8,386.71 after a string of good news from the American financial sector pushed the main index almost 10 per cent higher last week.
The TSX Venture Exchange was off 1.65 points to 847.32.
The Canadian dollar dipped 0.07 cent to 78.52 cents US amid further indications of a rapidly slowing economy.

Statistics Canada reported that industries operated at 74.7 per cent of their capacity in the fourth quarter of 2008, down from 78.1 in the third quarter and the lowest capacity utilization rate since the federal agency began keeping records in 1987.
The agency said the fourth-quarter decline was driven mainly by weak domestic and foreign demand for manufactured goods.

Roger Biduk;
The S&P/TSX Capped Financial Index gained 2.32%.
Homburg Invest Inc. (HII.A) +21.74% to $7.00. Dundee Corporation (DC.A) +18.18% to $5.33. Life & Banc Split Corp. (LBS) +17.79% to $4.70. Canadian Life Companies Split (LFE) +17.43% to $2.83. Copernican World Banks Split I (CBW.PR.A) +17.27% to $2.58.

Hopes that an early end to the recession would boost commodity prices sent the S&P/TSX Capped Diversified Metals & Mining Index higher by 4.69% as aluminum gained .81%, copper jumped 4.96% higher and silver dropped 2.46% to $13.22.
Ivanhoe Mines Ltd. (IVN) +12.08% to $5.94. Athabasca Potash Inc. (API) +7.88% to $2.19.
Uranium One Inc. (TSX:UUU) had a net loss of US$258.8 million in its fourth quarter, capping off a year of major losses as the company wrote down mineral interests, plants and equipment. Its shares were down one cent to $2.24.

Industrials were also strong as the S&P/TSX Capped Industrial Index rose 2.25%.
Churchill Corporation (The) (CUQ) +10.13% to $7.50. Bombardier Inc. (BBD.B) +5.76% to $2.94. ATS Automation Tooling Systems (ATA) +5.68% to $3.72.
Sino-Forest Corporation (TRE) -6.53% to $8.02.

Roger Biduk;
The energy sector participated in the upsurge after crude prices reversed course, rising one per cent as the April crude contract on the New York Mercantile Exchange gained $1.10 to US$47.35 a barrel. Prices went as low as US$43.62 during the morning in the wake of OPEC's weekend decision to maintain production at current levels. EnCana Corp. (TSX:ECA) rose 46 cents to $50.05 while Canadian Oil Sands Trust (TSX:COS.UN) gained 93 cents to $23.71.
Crescent Point Energy Trust (TSX:CPG.UN) units fell 10 cents to $24.48 after it reported fourth-quarter net income of $361.4 million on record quarterly production, compared to a year-earlier loss of $90.3 million.

The gold sector was the only major decliner. The S&P/TSX Global Gold Index lost 1.64% as the April bullion contract in New York slumped $8.10 to US$922.00 an ounce.
Minefinders Corporation Ltd. (MFL.WT) +23.88% to $4.15. Imperial Metals Corporation (III) +15.91% to $2.55. Greystar Resources Ltd. (GSL) +14.56% to $3.54. Gabriel Resources Ltd. (GBU) +6.80% to $2.67. Kirkland Lake Gold Inc. (KGI) +6.75% to $6.17.
Keegan Resources Inc. (KGN) -9.39% to $2.22. US Gold Corporation (UXG) -7.50% to $2.22. Alamos Gold Inc. (AGI) -5.49% to $7.75.

The S&P/TSX Capped Utilities Index gained .53%.

The S&P/TSX Consumer Discretionary Index was 1.96% higher and the S&P/TSX Consumer Staples Index gained .21%.
Linamar Corporation (LNR) -9.62% to $2.35.

Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 1.81%.
Cangene Corporation (CNJ) -13.55% to $4.02.

In the service sector:
Forzani Group Ltd. (The) (FGL) +10.04% to $8.66. MacDonald, Dettwiler and Assoc (MDA) +8.73% to $21.42. TransForce Inc. (TFI) +7.57% to $3.98. Transat A.T. Inc (TRZ.A) +7.51% to $6.87. ACE Aviation Holdings Inc. (ACE.A) +7.30% to $6.32.
Shares in convenience store chain Alimentation Couche-Tard (TSX:ATD.B) rose 15 cents to $13.12 after it reported that third-quarter profits surged 40.8 per cent to $71.1 million despite lower U.S. fuel sales.
Transcontinental Inc. (TCL.A) -7.67% to $6.02. Cargojet Income Fund (CJT.UN) -7.20% to $2.32.

The S&P/TSX Capped Information Technology Index lost .38% and the S&P/TSX Capped Telecom Services Index was 2.19% higher.
Aastra Technologies Limited (AAH) +5.70% to $19.66. March Networks Corporation (MN) +5.61% to $2.26. RuggedCom Inc. (RCM) +5.46% to $21.44. SXC Health Solutions Corp. (SXC) +5.23% to $27.15.
Shares in Rogers Communications Inc. (TSX:RCI.B) were up 84 cents to $29.13 following a report that Nadir Mohamed will become the next CEO, elevating the long-time telecom executive to the position left open by the death of Ted Rogers.

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Roger Biduk; Four in a Row For Bay Street

2009-03-14T19:59:00.003-04:00

Roger Biduk;
Stock markets enjoyed another positive session Friday, stretching a remarkable buying spree in Toronto and New York to four days, largely fuelled by good news from the financial sector.

While it certainly doesn’t happen all the time, I nailed it this week picking the financials.
The S&P/TSX Capped Financial Index gained .92% for a gain of 18.5% this week.
Brompton Lifeco Split Corp. (LCS) +85.19% to $2.00. Kingsway Financial Services In (KFS) +27.57% to $2.73. AGF Management Limited (AGF.B) +7.82% to $8.13. Artis Real Estate Investment T (AX.UN) +6.87% to $6.38. Macquarie Power & Infrastructu (MPT.UN) +6.30% to $4.89.
Alaris Royalty Corp. (AD) -21.76% to $5.25. Killam Properties Inc. (KMP) -6.93% to $4.70. Fairborne Energy Ltd. (FEL) -5.51% to $2.40.

Toronto's S&P/TSX composite index gained 21.12 points on the day to 8303.39, advancing 9.5 per cent for the week.
The TSX Venture Exchange rose 5.55 points to 848.97.
The Canadian dollar climbed 0.41% to 78.59 cents US despite the news that the unemployment rate jumped half a point to 7.7 per cent with the loss of 82,600 jobs in February. Statistics Canada also reported the country's trade deficit deepened to almost $1 billion in January. Observers didn't think the data had much effect on stock trading.

The S&P/TSX Global Gold Index gained .99% as the April bullion contract in New York rose $6.10 to US$930.10 an ounce.
Greystar Resources Ltd. (GSL) +10.36% to $3.09. Detour Gold Corporation (DGC) +7.57% to $9.24. Gabriel Resources Ltd. (GBU) +6.38% to $2.50.

Roger Biduk;
The April crude contract on the New York Mercantile Exchange dropped 1.68% to $46.25 and natural gas lost 1.58% to $3.93 as the S&P/TSX Energy Index sank .96%. This ahead of a meeting of OPEC Sunday. Traders wondered if the cartel will cut production to support prices, while the International Energy Agency lowered its estimate of global oil demand.
Akita Drilling Ltd. (AKT.A) +6.06% to $7.00. Petro Andina Resources Inc. (PAR) +5.12% to $5.95.
Calfrac Well Services Ltd. (CFW) -6.25% to $6.75. Pacific Rubiales Energy Corp. (PRE) -7.79% to $4.50.

In economic news, 83,000 workers lost their jobs in February, bringing total losses since the peak of last October to 295, Statistics Canada reported on Friday. The unemployment rate rose 0.5 percentage points to 7.7% in February.

The S&P/TSX Capped Diversified Metals & Mining Index lost 1.97% as aluminum gained .82%, copper was 2.46% higher and silver rose 2.10% to $13.22.
Aurora Energy Resources Inc. (AXU) +9.78% to $2.47. Detour Gold Corporation (DGC) +7.57% to $9.24. CIC Energy Corp. (ELC) +7.46% to $2.16.
Forsys Metals Corp. (FSY) -29.52% to $3.70. Athabasca Potash Inc. (API) -5.58% to $2.03. Quadra Mining Ltd. (QUA) -5.18% to $4.21.
Ivanhoe Mines Ltd. (IVN) -14.38% to $5.30 after the Mongolian parliament put off discussions about its Oyu Tolgoi copper-gold complex until next month.

Roger Biduk;
The S&P/TSX Capped Industrial Index lost .48%.
Newalta Inc. (NAL) +17.20% to $2.93.
GLV Inc. (GLV.A) -11.31% to $5.41.

Separately, Canada’s trade deficit widened to C$993 million in January from C$652 million in December, as both exports and imports fell, led by a sharp decline in automotive products trade, the statistics office reported. Overall, exports fell 9.0% to C$31.7 billion, while imports fell 7.9% to C$32.7 billion, the data showed.

The S&P/TSX Capped Utilities Index gained .21%.

The S&P/TSX Consumer Discretionary Index was .40% lower and the S&P/TSX Consumer Staples Index lost .57%.
Linamar Corporation (LNR) +6.12% to $2.60.

Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 1.74%.
QLT Inc. (QLT) +11.00% to $2.22.
Cangene Corporation (CNJ) -15.96% to $4.79.

In the service sector:
TransForce Inc. (TFI) +9.14% to $3.70. Trimac Income Fund (TMA.UN) +7.50% to $2.15. Forzani Group Ltd. (The) (FGL) +7.07% to $7.87. New Flyer Industries Inc. (NFI.UN) +5.51% to $7.85. Ag Growth Income Fund (AFN.UN) +5.32% to 20.80.
Transcontinental Inc. (TCL.A) -6.86% to $6.52.

The S&P/TSX Capped Information Technology Index lost .38% and the S&P/TSX Capped Telecom Services Index was 2.19% higher.
EXFO Electro-Optical Engineeri (EXF) +13.39% to $3.81. Torstar Corporation (TS.B) +9.47% to $5.200. Enghouse Systems Limited (ESL) +9.17% to $5.00. Aastra Technologies Limited (AAH) +7.83% to $18.60. Tundra Semiconductor Corporati (TUN) +5.26% to $3.00.

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Roger Biduk; Bay Street Higher on Financials and Energy

2009-03-12T22:20:00.003-04:00

Roger Biduk;

As in the U.S., Canadian ETFs did great today and over the last five days.
Horizons BetaPro S&P/TSX Capped Fin Bull (HFU-T) +12.63% to $4.19 (+36% in 5 days!). Horizons BetaPro S&P/TSX 60 Bull (HXU-T) +7.91% to $9.69 (+21% in 5 days!). Horizons BetaPro S&P 500 Bull Plus ETF (HSU-T) +7.87% to $4.80 (+19% in 5 days!). Horizons BetaPro NASDAQ-100 Bull Plus ETF (HQU-T) +6.56% to $5.36 (+16% in 5 days). Horizons BetaPro MSCI Emerg Markets Bull+ ETF (HJU-T) +7.55% to $14.95 (+22% in 5 days!). Horizons BetaPro Nymex Crude Oil Bull (HOU-T) + 16.12% to $5.98. Horizons BetaPro S&P/TSX Cap Energy Bull+ ETF (HEU-T) +11.41% to $4.20.

A powerful stock-market buying spree has continued for a third day, yielding triple-digit index gains in Toronto and New York driven by ongoing advances in financial and energy shares.
Toronto's S&P/TSX composite index jumped 271.25 points or 3.4 per cent to 8,282.27 on Thursday, up by 715 points or 9.4 per cent in three sessions.
The TSX Venture Exchange added 19.52 points to 843.42 while the Canadian dollar advanced 0.43 of a cent to 78.18 cents US.

The S&P/TSX Capped Financial Index soared 5.58% and is up almost 21 per cent since Monday's close.
Life & Banc Split Corp. (LBS) +25.48% to $3.94. Crown Hill Fund (MYT.UN) +20.94% to $4.10. Scott's Real Estate Investment (SRQ.UN) +20.77% to $4.07. World Financial Split Corp. (WFS) +18.23% to $2.40. Canadian Life Companies Split (LFE) +18.14% to $2.41.
Plutonic Power Corporation (PCC) -5.53% to $2.05.

Roger Biduk;
The April crude contract on the New York Mercantile Exchange soared 11.10% to $47.03 and natural gas jumped 5.19% to $4.00 as the S&P/TSX Energy Index rose 5.02%.
Rumours swirled that Russia, which vies with Saudi Arabia as the world's largest oil producer, will join OPEC in slashing crude production.
Crew Energy Inc. (CR) +14.39% to $3.18. Paramount Energy Trust (PMT.UN) +13.65 to $3.08. Pacific Rubiales Energy Corp. (PRE) +13.49% to $4.88. Galleon Energy Inc. (GO) +13.04% to $2.60. Addax Petroleum Corporation (AXC) +11.70% to $24.35.

The S&P/TSX Global Gold Index jumped 3.61% as the April bullion contract in New York rose $13.30 to US$924.00 an ounce.
Vista Gold Corp. (VGZ) +11.37% to $2.35. Aquiline Resources Inc. (AQI) +8.61% to $2.90. Kirkland Lake Gold Inc. (KGI) +8.19% to $5.68. Markland AGF Precious Metals C (MPM) +6.16% to $6.38. International Minerals Corpora (IMZ) +5.00% to $3.15.

The S&P/TSX Capped Diversified Metals & Mining Index jumped 5.32% as aluminum gained 1.24%, copper was flat and silver rose 1.12% to $12.94.
Teck Cominco Limited (TCK.B) +8.70% to $5.00. Uranium One Inc. (UUU) +8.21% to $2.24. Ivanhoe Mines Ltd. (IVN) +7.84% to $6.19.
Forsys Metals Corp. (FSY) -16.00% to $5.25.

The S&P/TSX Capped Industrial Index rose 2.92%.
Stella-Jones Inc. (SJ) +9.88% to $16.80. GLV Inc. (GLV.A) +9.32% to $6.10. JDS Uniphase Canada Ltd. (JDU) +8.11% to $3.60.

The S&P/TSX Capped Utilities Index lost .22%.
Superior Plus Corp. (SPB) +6.48% to $9.53.

Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 2.92% higher and the S&P/TSX Consumer Staples Index gained 1.43%.
Linamar Corporation (LNR) +11.36% to $2.45. Gildan Activewear Inc. (GIL) +7.59% to $9.21.

The S&P/TSX Capped Health Care Index was higher by 2.46%.
QLT Inc. (QLT) +9.89% to $2.00.

In the service sector:
TransForce Inc. (TFI) +13.76% to $3.39. Empire Company Ltd. (EMP.A) +7.48% to $49.98. Westshore Terminals Income Fun (WTE.UN) +7.01% to $8.55. Guardian Capital Group Ltd. (GCG.A) +6.36% to $3.51. TMX Group Inc. (X) +5.44% to $33.32.
Contrans Income Fund (CSS.UN) -23.81% to $3.20.

The S&P/TSX Capped Information Technology Index gained 1.76% and the S&P/TSX Capped Telecom Services Index was .36% lower.
Miranda Technologies Inc. (MT) +9.17% to $4.88. Celestica Inc. (CLS) +7.80% to $3.87. Aastra Technologies Limited (AAH) +7.01% to $17.25. Torstar Corporation (TS.B) +6.74% to $4.75.

Is your broker or financial advisor giving you or your clients this type of timely, daily information?
I can tell you the answer is most likely …..no!
Give me a call….

I am always looking to form a professional and mutually profitable relationship on a referral basis regarding our respective clients, friends & business associates.

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Roger Biduk; Bay Street Higher on Financials

2009-03-11T21:55:00.001-04:00

Roger Biduk;

The Toronto stock market surged for a second day Wednesday in another broad advance led by beaten-down Canadian banks and insurance companies.
Toronto's S&P/TSX composite index closed up 130.61 points to 8,011.02, after a 12 per cent surge in financials pushed the benchmark index up 313 points on Tuesday, the market's best day so far this year.
The TSX Venture Exchange ticked 5.35 points higher to 823.9.
The CDN$ fell 0.06 of a cent to 77.75 cents US.

The S&P/TSX Capped Financial Index gained 2.02.
NB Split Corp. (NBF) +10.81% to $4.10. Allbanc Split Corp. II (ALB) +10.24% to $4.09. Life & Banc Split Corp. (LBS) +10.18% to $3.14. GMP Capital Trust (GMP.UN) +9.67% to $5.90. Dividend 15 Split Corp. (DFN) +9.43% to $5.80.
World Financial Split Corp. (WFS) -10.96% to $2.03. Resverlogix Corp. (RVX) -9.61% to $3.01. Dundee Corporation (DC.A) -6.98% to $4.00. Savanna Energy Services Corp. (SVY) -5.54% to $4.09.
The TSX financial sector was up 2.2 per cent on the day as TD Bank (TSX:TD) rose $1.26 to $39.76 and Royal Bank (TSX:RY) gained 63 cents to $33.57.
Bank of Montreal (TSX:BMO) improved 39 cents to $30.10 as it announced a $200-million preferred share issue paying 6.5 per cent.

The April crude contract on the New York Mercantile Exchange dropped 2.65% to $45.71 and natural gas lost 1.09% to $3.80 as the S&P/TSX Energy Index lost .41%.
The U.S. Department of Energy reported that crude supplies climbed by 700,000 barrels last week against an expected drop of one million barrels.
Avenir Diversified Income Trus (AVF.UN) +6.37% to $3.34. Pacific Rubiales Energy Corp. (PRE) +6.17% to $4.30. Parkland Income Fund (PKI.UN) +5.76% to $7.35.
Paramount Energy Trust (PMT.UN) -8.14% to $2.71. Paramount Resources Ltd. (POU)
-7.59% to $4.87. Galleon Energy Inc. (GO) -5.74% to $2.30. Breaker Energy Ltd. (WAV)
-5.53% to $2.22.

Roger Biduk;
The S&P/TSX Global Gold Index jumped 6.07% as the April bullion contract in New York jumped $14.80 to US$910.70 an ounce.
Vista Gold Corp. (VGZ) +12.70% to $2.13. Greystar Resources Ltd. (GSL) +10.57% to $2.72. US Gold Corporation (UXG) +10.19% to $2.38. Alamos Gold Inc. (AGI) +8.93% to $8.05. Queenston Mining Inc. (QMI) +8.70% to $3.50.

The S&P/TSX Capped Diversified Metals & Mining Index gained 3.14% as aluminum gained 1.24%, copper lost 3.50% and silver rose 2.07% to $12.80.
Teck Cominco Limited (TCK.B) +12.47% to $4.60. Uranium One Inc. (UUU) +9.52% to $2.07. Agrium Inc. (AGU) +6.54% to $47.73. Migao Corporation (MGO) +5.54% to $5.72. Athabasca Potash Inc. (API) +5.50% to $2.11.

The S&P/TSX Capped Industrial Index rose 1.41%.
Bombardier Inc. (TSX:BBD.B) climbed 12 cents to $2.71 after it finalized a sale of 30 new CS100 jets for US$1.5 billion to Germany's Lufthansa.
Newalta Inc. (NAL) -9.00% to $2.63.

The S&P/TSX Capped Utilities Index rose .69%.

The S&P/TSX Consumer Discretionary Index was .13% higher and the S&P/TSX Consumer Staples Index lost .77%.
Gildan Activewear Inc. (GIL) +5.68% to $8.56.
Linamar Corporation (LNR) -9.47% to $2.20. Richards Packaging Income Fund (RPI.UN) -9.06% to $2.51. Winpak Ltd. (WPK) -6.45% to $6.53. ZCL Composites Inc. (ZCL) -5.38% to $4.40.

The S&P/TSX Capped Health Care Index was higher by .57.

Roger Biduk;
In the service sector:
Patheon Inc. (PTI) +18.78% to $2.53. Transcontinental Inc. (TCL.A) +7.19% to $6.71. Ag Growth Income Fund (AFN.UN) +6.54% to $19.39. RONA Inc. (RON) +5.44% to $10.86.
Transat A.T. Inc (TRZ.B) -9.87% to $6.85.

The S&P/TSX Capped Information Technology Index gained 2.49% and the S&P/TSX Capped Telecom Services Index was .78% lower. Descartes Systems Group Inc. (DSG) +10.79% to $3.08. Evertz Technologies Limited (ET) +10.09% to $11.67. Aastra Technologies Limited (AAH) +6.47% to $16.12.

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Roger Biduk; Bay Street has Largest Yearly Gain

2009-03-10T21:35:00.003-04:00

Roger Biduk;

Did you read my email that I sent on Monday morning regarding what ETFs to buy on an upcoming bear market rally I saw coming?
Hopefully you did and bought (as my clients did) the ones I included.
Horizon BetaPro S&P/TSX Financials Bull Plus (HFU) soared 25.00% to $3.60, (HQU) was up 12.18% and (HXU) rose 9.07%.
The ETFs in the U.S. markets that I talked about (see below) did even better as they are leveraged 3-1 compared to the Canadian ones at 2-1.

Stock markets surged on a huge runup in bank and insurance shares Tuesday after American financial-services giant Citigroup Inc. said it was profitable in the first two months of this year.
Toronto's S&P/TSX composite index jumped 313.47 points or 4.1 per cent to 7,880.41, powered by a 12 per cent charge in the financial sector. It was the biggest gain this year for the benchmark Canadian index.
The TSX Venture Exchange edged 4.36 points higher to 818.55.
The Canadian dollar rose 0.83 cent to 77.81 cents US after losing almost half a cent Monday to its lowest close since September 2004.

Of the ten sectors I follow on the Toronto market, all were higher except for the gold sector.
The S&P/TSX Global Gold Index tanked 7.37% as the April bullion contract in New York sank $22.10 to US$895.90 an ounce.
Minefinders Corporation Ltd. (MFL.WT) -19.35% to $2.50. Kinross Gold Corporation (K.WT.B) -12.67% to $2.62. US Gold Corporation (UXG) -12.10% to $2.18. Kinross Gold Corporation (K.WT.C) -10.91% to $4.41. Aquiline Resources Inc. (AQI) -10.10% to $2.58.

Roger Biduk;
The market also got support from energy stocks even as the price of crude oil moved lower.
The April crude contract on the New York Mercantile Exchange dropped 2.89% to $45.71 and natural gas lost .65% to $3.84 as the S&P/TSX Energy Index gained 2.93%.
Breaker Energy Ltd. (WAV) +9.30% to $2.350. Flint Energy Services Ltd. (FES) +7.11% to $5.12. Gran Tierra Energy Inc. (GTE) +6.17% to $3.27. Destiny Resource Services Corp (DSC) +6.00% to $2.12. Canadian Natural Resources Lim (CNQ) +5.99% to $46.00.
Avenir Diversified Income Trus (AVF.UN) -19.49% to $3.14. Paramount Resources Ltd. (POU)
-6.73% to $5.27. Badger Income Fund (BAD.UN) -5.95% to $10.90. Cathedral Energy Services Inco (CET.UN) -5.31% to $2.14.
Oil earlier had surged as high as US$48.32 as OPEC signalled another production cut is likely within days, but then pulled back after the U.S. Energy Department predicted oil will average US$42 a barrel this year and US$53 next year. A month ago, it had predicted prices of US$43 and US$55.

The S&P/TSX Capped Diversified Metals & Mining Index jumped 5.92% as aluminum gained 1.68%, copper gained 2.74% and silver fell 3.09% to $12.54.
Inmet Mining Corporation (IMN) +14.48% to $31.07. Quadra Mining Ltd. (QUA) +10.67% to $4.15. Teck Cominco Limited (TCK.B) +9.95% to $4.09. Breaker Energy Ltd. (WAV) +9.30% to $2.35. Athabasca Potash Inc. (API) +8.70% to $2.00. Flint Energy Services Ltd. (FES) +7.11% to $5.12. Potash Corporation of Saskatch (POT) +6.92% to $96.26.
Red Back Mining Inc. (RBI) -8.75% to $6.57. Fronteer Development Group Inc (FRG) -8.21% to $2.57. Pan American Silver Corp. (PAA) -6.88% to $16.51.
HudBay Minerals Inc. (TSX: HBM.TO) rose 19 cents to $5.90 after the resignation of Allen Palmiere as CEO, effective immediately. His departure comes as a major shareholder seeks to shake up the mining company's board after the collapse of HudBay's proposed merger with Lundin Mining Corp. (TSX: LUN.TO).

Roger Biduk;
The S&P/TSX Capped Financial Index soared 12.04%.
Life & Banc Split Corp. (LBS) +35.71% to $2.85. Allbanc Split Corp. II (ALB) +34.91% to $3.71. Canadian Life Companies Split (LFE) +33.97% to $2.09. Financial 15 Split Corp. (FTN) +31.45% to $3.26. R Split III Corp. (RBS) +24.29% to $4.35.
iShares CDN S&P/TSX Global Gol (XGD) -7.09% to $17.42. Birchcliff Energy Ltd. (BIR)
-7.02% to $4.90. Franco-Nevada Corporation (FNV) -5.79% to $24.73.

The S&P/TSX Capped Industrial Index jumped 6.60%.
TimberWest Forest Corp. (TWF.UN) +14.04% to $2.68. SNC - Lavalin Group Inc. (SNC) +11.63% to $31.59. Bombardier Inc. (BBD.B) +10.68% to $2.59. Seacliff Construction Corp. (SDC) +8.00% to $6.75. ATS Automation Tooling Systems (ATA) +7.97% to $3.25.

The S&P/TSX Capped Utilities Index rose .31%.

The S&P/TSX Consumer Discretionary Index was 4.17% higher and the S&P/TSX Consumer Staples Index gained .44%.
Gildan Activewear Inc. (GIL) +7.43% to $8.10. Richards Packaging Income Fund (RPI.UN) +7.39% to $2.76. Hammond Power Solutions Inc. (HPS.A) +6.75% to $7.75. Cascades Inc. (CAS) +6.15% to $2.07.

The S&P/TSX Capped Health Care Index was higher by 3.80%.
Biovail Corporation (BVF) +6.37% to $14.20. BioMS Medical Corp. (MS) +5.29% to $2.39.

Roger Biduk;
In the service sector:
Great Canadian Gaming Corporat (GC) +12.29% to $2.65. Stantec Inc. (STN) +11.83% to $21.17. Transcontinental Inc. (TCL.A) +11.11% to $6.20. Wajax Income Fund (WJX.UN) +10.00% to $12.10. Cargojet Income Fund (CJT.UN) +8.89% to $2.45.
Second Cup Royalty Income Fund (SCU.UN) -7.96% to $4.51. Trimac Income Fund (TMA.UN)
-9.05% to $2.01.

The S&P/TSX Capped Information Technology Index gained 3.39% and the S&P/TSX Capped Telecom Services Index was 3.72% higher. 5N Plus Inc. (VNP) +13.36% to $5.09. Tundra Semiconductor Corporati (TUN) +9.62% to $2.85. Research in Motion Limited (RIM) +9.47% to $50.30. Celestica Inc. (CLS) +7.04% to $3.65.

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Roger Biduk; Bay Street Slumps to 2003 Levels

2009-03-07T13:04:00.002-05:00

Roger Biduk;

The Toronto stock market capped a losing week that saw its key index hit multi-year lows with a negative close Friday following enormous job losses in the U.S. last month.
Toronto's S&P/TSX composite index closed down 37.7 points to 7,591.47.
The TSX Venture Exchange was off 0.57 of a point to 829.12, while the CDN$ closed up 0.11 of a US cent to 77.73 cents U.S.

The S&P/TSX Capped Diversified Metals & Mining Index rose 2.38% as aluminum lost .83%, copper gained 2.15% and silver rose 1.62% to $13.33.
Teck Cominco Limited (TCK.B) +14.04% to $3.90. Aurora Energy Resources Inc. (AXU) +7.42% to $2.46.
Quadra Mining Ltd. (TSX:QUA) shares rose 10 cents to $3.69 after it reported a fourth-quarter net loss of US$126.1 million compared to a year-earlier profit of $5.5 million.
Ivanhoe Mines Ltd. (IVN) -6.39% to $5.27. Migao Corporation (MGO) -6.24% to $5.26. Pembina Pipeline Income Fund (PIF.UN) -5.35% to $12.38. Phoenix Technology Income Fund (PHX.UN) -5.35% to $5.13. Potash Corporation of Saskatch (POT) -5.10% to $84.97.

Canada's jobless rate is 7.2 per cent but could shoot higher next Friday when Statistics Canada reports the February employment numbers.

The TSX finished the week down 531.55 points or 6.5 per cent to its worst level since the fall of 2003.

Roger Biduk;
The Toronto financial sector had a particularly miserable week, down almost 10 per cent.
The S&P/TSX Capped Financial Index dropped .47%.
Home Equity Income Trust (HEQ.UN) +5.00% to $3.57. Resverlogix Corp. (RVX) +5.13% to $3.28. Crown Hill Fund (MYT.UN) +10.23% to $2.91. Homburg Invest Inc. (HII.A) +12.00% to $4.48.
Energy Split Corp. Inc. (ES) -32.00% to $2.38. US Financial 15 Split Corp. (FTU.PR.A) -13.33% to $2.34. Royal Host Real Estate Investm (RYL.UN) -12.79% to $2.25. Canadian Western Bank (CWB) -11.58% to $8.25. Chartwell Seniors Housing Rl E (CSH.UN) -10.61% to $3.96. Claymore Japan Fundamental Ind (CJP) -8.44% to $7.050.
CIBC (TSX:CM) shed 36 cents to $37.50 while Bank of Montreal (TSX:BMO) advanced 32 cents to $27.48.
The Bank of Nova Scotia (TSX:BNS) has taken a majority interest in Five Continents Financial Ltd., an asset management firm in the Cayman Islands. The terms of the transaction were not disclosed. Scotiabank shares were down 17 cents to $26.04.

The April crude contract on the New York Mercantile Exchange rose 4.38% to $43.61 and natural gas lost 3.50% to $3.95 as the S&P/TSX Energy Index gained 1.26%.
Eveready Inc. (EIS) +9.45% to $2.20. Paramount Resources Ltd. (POU) +6.82% to $5.64. Petrominerales Ltd. (PMG) +5.62% to $9.58. Suncor Inc. (TSX:SU) rose $1.15 to $27.35 and Canadian Natural Resources (TSX:CNQ) gained $1.29 to $41.80.
Pacific Rubiales Energy Corp. (PRE) -15.68% to $3.55. Cathedral Energy Services Inco (CET.UN) -14.58% to $2.05. Calfrac Well Services Ltd. (CFW) -8.67% to $7.16. Major Drilling Group Internati (MDI) -7.50% to $11.10. Paramount Energy Trust (PMT.UN) -6.80% to $2.88.

Roger Biduk;
Canadian autoparts maker Linamar Corp. (TSX:LNR) has cut its quarterly dividend in half. The Ontario-based company reported a fourth-quarter loss Thursday and said it would pay a quarterly dividend of three cents per share, down from six cents in the previous quarter. Linamar shares fell 33 cents to $2.67.

The S&P/TSX Capped Industrial Index lost .65%.
Newalta Inc. (NAL) -18.77% to $3.03. JDS Uniphase Canada Ltd. (JDU) -5.54% to $2.90.

The S&P/TSX Capped Utilities Index lost .066%.
EPCOR Power L.P. (EP.UN) -6.45% to $14.64.

The S&P/TSX Consumer Discretionary Index was .59% lower and the S&P/TSX Consumer Staples Index gained .71%.
Supremex Income Fund (SXP.UN) -11.39% to $2.10. Linamar Corporation (LNR) -11.00% to $2.67.

SNC Lavalin Group Inc. (TSX:SNC) reported fourth quarter net income of $75 million, compared with a net income of $68.7 million for the same period in 2007. For all of 2008, the engineering giant reports $312.5 million in net income, compared with $153.2 million in 2007. SNC also announced a 25 per cent increase to quarterly dividends. Its shares climbed 74 cents to $29.39.

Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 3.94%.
BioMS Medical Corp. (MS) +5.02% to $2.30.

In the service sector:
Jean Coutu Group Inc. (PJC.A) +13.18% to $8.16. TransForce Inc. (TFI) +7.01% to $3.36.
Altus Group Income Fund (AIF.UN) -16.97% to $5.48. Jazz Air Income Fund (JAZ.UN) -9.92% to $3.45. Data Group Income Fund (The) (DGI.UN) -8.51% to $3.01. Transcontinental Inc. (TCL.A) -7.22% to $6.04. Empire Company Ltd. (EMP.A) -5.87% to $49.10.

Industrial waste management services provider Newalta Inc. (TSX:NAL) said Friday it was cutting its dividend by 14 cents to five cents after reporting a drop in profits for both the most recent quarter and fiscal year. The company cited volatile markets and weak commodity prices and its shares dropped 70 cents to $3.

The S&P/TSX Capped Information Technology Index lost 2.28% and the S&P/TSX Capped Telecom Services Index was 1.08% lower.
TSX included Research In Motion Ltd. (TSX:RIM)down $2.22 to $46.60.

The S&P/TSX Global Gold Index dropped .72% as the April bullion contract in New York jumped 14.90 to US$942.70 an ounce.
Aquiline Resources Inc. (AQI) +8.47% to $3.20. Kirkland Lake Gold Inc. (KGI) +7.78% to $5.40. International Minerals Corp. (IMZ) -6.96% to $3.21. Goldcorp Inc. (TSX:G) faded 63 cents to $37.82.

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