Roger Biduk; Bay Steet Comes Back 400 Points

Roger Biduk writes:

Stock markets closed higher Thursday after investors U.S. Democrats called for US$825 billion in federal spending and tax cuts to help revive the recession-plagued economy in the United States.
Toronto's S&P/TSX composite index closed 191.25 points higher to 8,879.61 after tumbling more than 200 points.
The TSX Venture Exchange slipped 5.23 points to 844.3.
The CDN$ moved down 0.21 cents to 79.9 cents US following four days of steep declines that cut the loonie's value by about four cents US. The declines have been prompted by a stronger American currency and falling commodity prices, especially oil.

The TSX materials index was up 4.28% even as gold dropped $1.50.
Gainers include Tanzanian Royalty Exploration (TNX) soaring 15.34% to $4.21. Queenston Mining (QMI) rising 11.79% to $2.75. Allied Nevada Gold (ANV) jumping 10.49% to $5.16. Iamgold (IMG) higher by 12.59% to $7.60. Yamana Gold (YRI) up 7.93% to $8.03. Agnico-Eagle (AEM) gaining 7.11% to $60.22. Barrick Gold (ABX) jumping 6.89% to $42.06.
Losers include Centerra Gold (CG) losing 10.00% to $3.33.

The TSX metals & mining index rose 1.96%.
Gainers include First Majestic Silver (FR) soaring 18.87% to $2.52.
First Uranium (FIU) jumping 9.83% to $3.24. Virginia Mines (VGQ) gaining 9.03% to $3.50. Pan American Silver (PAA) rising 8.13% to $18.89. Red Back Mining (RBI) up 7.31% to $7.93. Hudbay Minerals (HBM) higher by 12.23% to $3.58. Silver Standard Res. (SSO) jumping 10.42% to $21.09. Minefinders Corp. (MFL) rising 7.76% to 5.83%.

Roger Biduk
The TSX information technology sector was up 3.20% as tech heavyweight Research In Motion (TSX:RIM) provided strong support, rising $5.63 or 10 per cent to $62.
Shaw Communications Inc. (TSX:SJR.B) said Wednesday its first-quarter earnings increased 10 per cent to $123.1 million compared with a year ago. Revenue in the quarter totalled $817.5 million, up from $743.8 million. Its shares rose 90 cents to $20.85.

The TSX financial sector moved 0.7 per cent higher with Power Corp. (TSX:POW) gaining 82 cents to $22.32 and Manulife Financial (MFC) headed up 70 cents to $22.93.

The TSX energy sector improved 1.94% even as oil prices continued to retreat on concerns about falling demand. The February crude contract on the New York Mercantile Exchange declined $1.88 to US$35.40 a barrel as diving as low as US$33.20. EnCana Corp. (TSX:ECA) rose $2.07 to $56.70 while Suncor Inc. (TSX:SU) climbed 88 cents to $47.58.
Gainers include Petrobank Energy (PBG) jumping 5.22% to $22.77. Paramount Res. (POU) gained 3.71%$8.10.
Loser include Calfrac Well Services (CFW) losing 8.50% to $8.18 and Heritage Oil (HOC) down 7.77% to $3.80.

The TSX industrials sector was 3.28% higher thanks largely to Bombardier Inc. (TSX:BBD.B). Its shares rose 5.56% to $4.75 after it said that Virginia-based regional airline Colgan Air has confirmed previously conditional orders for 10 Q400 turboprop airliners and is exercising options on five Q400s placed in 2007 by its parent company, Pinnacle Airlines Corp. The list value of the 15 planes is US$432 million.
Railway stocks improved after an RBC Capital analyst said that North America's railroad industry is positioned for long-term growth despite enduring financial pressures from the economic slowdown. Walter Spracklin says Canadian railways Canadian National Railways (TSX:CNR) and Canadian Pacific (TSX:CP) will continue to gain market share from trucking. CN shares rose $1 to $43.41 while CP shares moved up $1.12 to $39.78.
Gainers include West Fraser Timber (WFT) gaining 9.26% to $25.72. ATS Automation (ATA) rising 7.57% to $4.55 and SNC Lavalin (SNC) up by 5.78% to $37.49. Domtar (UFS) higher by 10.87% to $2.00. Westjet (WJA.A) moving 7.12% higher to $14.15.
Other gainers included CryptoLogic (CRY) soaring 18.87% to $4.68. Lululemon Athletica (LLL) jumping 11.88% to $8.76. Plutonic Power (PCC) higher by 11.21% to $2.48. Corus Ent. (CJR.B) up 9.58% to $13.15.

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