Roger Biduk; Bay Street Higher on Financials and Energy

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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