Roger Biduk; Bay Street Lower Again on Energy & Financials

Roger Biduk;

As was seen yesterday, another selloff in energy and financial stocks today pushed the Toronto stock market down a steep, triple-digit slide for a second day in a row.

Exchange Traded Funds (ETFs) were among the biggest percentage gainers on Bay Street for a second day.
Horizons BetaPro S&P/TSX Capped Fin Bear+ ETF (HFD-T) rose 6.37% after soaring 13.31% yesterday to $48.08.
Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) higher by 5.22% after soaring 17.69% yesterday to $47.13.

Toronto's S&P/TSX composite index tumbled 202.75 points to 8,175.95 after the financial sector led the way to a 299-point loss on Tuesday.
The TSX Venture Exchange moved down 3.34 points to 915.82 while the CDN$ rose 0.35 of a cent to 79.48 cents US.

The S&P/TSX Capped Financial Index tanked 3.61% after sinking 6.42% yesterday as investors worry about the global financial system. In recent days, investor fears have been focused on the ability of banks in Eastern Europe to repay or roll over US$400 billion this year. The banks have borrowed US$1.7 trillion, much on short-term maturities.
CIBC (TSX:CM) fell $1.91 to $41.69, Royal Bank (TSX:RY) lost $1.17 to $26.98 while insurer Manulife Financial (TSX:MFC) eased 59 cents to $15.08.
DDJ High Yield Fund (HYB.UN) soared 8.44% to $6.55. Faircourt Income & Growth Split (FIG.UN) jumped 5.48% to $7.89.
Noranda Income Fund (NIF.UN) sank 19.68% to $2.53. Financial 15 Split Corp. (FFN) tanked 14.74% to $2.66. Allbanc Split Corp. II (ALB) dropped 11.47% to $3.32. InnVest Real Estate Inv. (INN.UN) dropped 10.45% to $3.00.

Roger Biduk;
The March crude contract on the New York Mercantile Exchange dropped .89% to US$34.62 a barrel and the S&P/TSX Energy Index dropped 3.55% after sinking 4.98% yesterday. Natural gas gained .50% to $4.24.
Worsening economic conditions persuaded traders that demand won't be rising anytime soon.
Addax Petroleum (AXC) jumped 6.17% to $25.47.
Major Drilling Group (MDI) tanked 9.54% to $14.31. Peyto Energy Trust (PEY.UN) sank 8.41% to $7.51. Crew Energy (CR) dropped 8.35% to $3.62. Trinidad Drilling (TDG) lower by 8.28% to $2.88. Phoenix Tech. Income Fund (PHX.UN) sinking 7.06% to $6.71. as EnCana Corp. (TSX:ECA) declined $1.90 to $49.40 and Petro-Canada (TSX:PCA) gave back $1.19 to $26.11.

Mining stocks also dragged with the base metals sector down as the S&P/TSX Capped Diversified Metals & Mining Index was down 3.10% after dropping 3.50% yesterday. Aluminum was flat, copper gained .83% and silver gained 2.00% to $14.29.
Altus Minerals (ALS) soared 13.93% to $6.38. PDX Res. (PLG) jumped 5.22% to $2.82.
Sherritt Int’l. (S) tanked 9.66% to $2.62. First Uranium Corp. (FIU) sank 7.14% to $4.55. First Majestic Silver (FR) lower by 6.98% to $2.80. progress Energy Res. (PRQ) dropped 6.97% to $9.21. Timminco (TIM) lower by 6.69% to $2.65.
Teck Cominco Ltd. (TSX:TCK.B) lost 29 cents to $4.15 after it said Tuesday it is looking at all options, including a sale of some of its coal business, to reduce a suffocating debt load largely acquired when it paid US$14 billion for Fording Canadian Coal Trust last fall.

The S&P/TSX Global Gold Index higher by .88% as the April bullion contract in New York jumped $10.70 to US$978.20 an ounce after rising $25.30 yesterday.
Barrick Gold Corp. (TSX:ABX) advanced $1.21 to $48.40. Int’l. Minerals (IMZ) soared 14.41% to $3.89. Keegan Res. (KGN) gained 9.87% to $2.45. Greystar Res. (GSL) rose 8.15% to $2.92. US Gold Cdn. Acq. (UXE) higher by 7.43% to$3.18. US Gold corp. (UXG) gaining 5.92% to $3.42.
Gabriel Res.(GBU) sank 6.14% to $2.60. Moto Goldmines (MGL) dropped 5.03% to $3.40.

Grocery chain operator Loblaw Companies Ltd. (TSX:L) posted fourth-quarter profit of $188 million, up from a year-earlier $40 million, as sales jumped 11 per cent, helped by one-time gains and an extra week in the accounting period. Sales rose to $7.75 billion from $6.97 billion and its shares moved 40 cents lower to $33.

Roger Biduk;
The S&P/TSX Capped Health Care Index tanked 4.50%.
QLT Inc. (QLT) soared 10.04% to $2.52.
Biovail (BVF) dropped 5.06% to $13.50. BioMS Medical (MS) lower by 5.37% to $2.29. Atrium innovations (ATB) sank 7.88% to $14.73.

The S&P/TSX Capped Utilities Index dropped 3.83%.
Maxim Power (MXG) tanked 9.82% to $2.57. Atco (ACO.X) sank 6.67% to $35.10. Cdn. Hydro Dev. (KHD) sank 5.61% to $3.03.

The S&P/TSX Consumer Discretionary Index was down 2.35% and the S&P/TSX Consumer Staples Index was down 1.80%.
Canfor Pulp Income Fund (CFX.UN) tanked 23.08% to $2.00. Linamar (LNR) sank 10.03% to $3.32. Rogers Sugar Income fund (RSI.UN) lower by 9.37% to $3.00. Maple Leaf Foods (MFI) down 6.25% to $9.15. Supremex Income Fund (SXP.UN) lower by 5.48% to $2.76.

The S&P/TSX Capped Industrial Index was down 2.88%. Martinrea Int’l. (MRE) soared 11.36% to $2.45.
Bombardier (BBD.B) tanked 12.69% to $2.82. TimberWest Forest (TWF.UN) sank 13.14% to $2.38. Sino-Forest (TRE) dropped 7.73% to $10.15. Canfor (CFP) lower by 7.07% to $6.05. ATS Automation Tooling Systems (ATA) sank 5.82% to $3.40.

The S&P/TSX Capped Information Technology Index dropped 2.46% and the S&P/TSX Capped Telecom Services Index was down 3.62%.
Research in Motion (RIM) dropped 6.58% to $52.82. The stock has been falling since last week after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance and a Credit Sussex analyst cut his rating on the Blackberry maker to under perform from neutral and slashed his earnings expectations for the February 2010 fiscal year.
Cryptologic (CRY) sank 7.12% to $6.00. EXFO Electro-Optical Engineering (EXF) tanked 9.57% to $4.25.
Rogers Communications Inc. (TSX:RCI.B) shares fell $2.65 or 7.7 per cent to $31.70 after it said a decrease in the value of its television division generated impairment charges that propelled the company to a fourth quarter loss of $138 million. The result marks a sharp drop from a profit of $254 million recorded in the same quarter a year earlier.

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