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

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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