Roger Biduk; Bay Street Slumps to 2003 Levels

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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