Roger Biduk; Bay Street Higher

Roger Biduk

Stock markets ended in positive territory Tuesday despite weak U.S. corporate earnings reports and a warning by the Bank of Canada that the recession will be deeper than it previously predicted.

The S&P/TSX Capped Financial Index rose 2.80%.
GMP Capital Trust (GMP.UN) +8.61% to $8.96. Brookfield Properties Corporat (BPO) +8.52% to $9.17. Birchcliff Energy Ltd. (BIR) +8.24% to $6.44. IGM Financial Inc. (IGM) +7.37% to $35.99. Fairborne Energy Ltd. (FEL) +6.75% to $4.27.

Toronto's S&P/TSX composite index ended higher by 121.02 points at 9,247.17, reversing an early slide that followed the central bank's decision to cut its key policy rate by a quarter-point to 0.25 per cent in an effort to jolt the economy into life.
The TSX Venture Exchange lost 1.05 points to 974.38.
The Canadian dollar closed up 0.15 of a cent at 80.89 cents US, after briefly dipping below 80 cents in early action.

Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index soared 11.39% as aluminum rose 1.15%, copper was 1.19% lower at $2.08 and silver lost 0.37% to $12.06.
Gerdau AmeriSteel Corporation (GNA) +8.76% to $5.71. Forsys Metals Corp. (FSY) +6.25% to $4.59. Inmet Mining Corporation (IMN) +6.02% to $36.65.

On the TSX, Teck Cominco (TCK.B) surged 36.88% to $12.47 after it stabilized its debt situation while reporting a first-quarter profit of $241 million, off from $345 million a year ago although revenue was up 11 per cent to $1.71 billion.

The April crude contract on the New York Mercantile Exchange rose 1.37% to $46.51 and natural gas was down 0.87% to $3.64 as the S&P/TSX Energy Index rose 1.86%.
Eveready Inc. (EIS) +20.07% to $3.35. OPTI Canada Inc. (OPC) +13.74% to $2.07. Cathedral Energy Services Inco (CET.UN) +12.79% to $4.41. Pason Systems Inc. (PSI) +8.77% to $10.91. Trican Well Service Ltd. (TCW) +7.03% to $9.140.
Heritage Oil Corporation (HOC) -8.65% to $6.76.

Timminco Ltd. (TSX:TIM) continued its fall from grace, losing 23% to $1.82 following Monday's 38 per cent drop on news that customers for its solar-panel-grade silicon are claiming their contracts have been terminated due to non-compliance. Timminco shares were worth over $35 last June after a dramatic run-up.

Roger Biduk
The S&P/TSX Capped Telecom Services Index was 1.37% higher and the S&P/TSX Capped Information Technology Index rose 2.81%.
DragonWave Inc. (DWI) +17.03% to $2.13. Celestica Inc. (CLS) +7.79% to $5.950. Aastra Technologies Limited (AAH) +7.36% to $22.75.

Canadian National Railway Co. (TSX:CNR) moved ahead $1.33 to $50.11 after announcing that retiring CEO Hunter Harrison will be succeeded at year-end by chief financial officer Claude Mongeau. That followed CN's report that quarterly earnings increased to $424 million from $311 million, thanks to a one-time gain.

The S&P/TSX Capped Health Care Index was higher by 1.71%.
Oncolytics Biotech Inc. (ONC) +15.51% to $2.16.


The S&P/TSX Capped Industrials Index was up 0.97%.
ADF Group Inc. (DRX) +5.91% to $2.15.
Ballard Power Systems Inc. (BLD) +5.11% to $2.47.
Canfor Corporation (CFP) -7.45% to $5.09.

Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.37% higher and the S&P/TSX Consumer Staples Index rose 0.56%.
Linamar Corporation (LNR) +10.39% to $4.25. Canfor Pulp Income Fund (CFX.UN) +6.88% to $2.02. Gildan Activewear Inc. (GIL) +5.40% to $15.41.
Arctic Glacier Income Fund (AG.UN) -20.00% to $2.00.

The S&P/TSX Capped Utilities Index fell 0.44%.

The S&P/TSX Global Gold Index fell 2.62% as the April bullion contract in New York fell $4.80 to US$882.70 an ounce.
Centerra Gold Inc. (CG) +7.84% to $5.78.
Kinross Gold Corporation (K.WT.C) -10.35% to $3.55. Aquiline Resources Inc. (AQI) -9.05% to $2.21.Alamos Gold Inc. (AGI) -5.15% to $7.37.

In the Service sector:
TransForce Inc. (TFI) +10.75% to $4.43. Coast Wholesale Appliances Inc (CWA.UN) +8.17% to $2.25. Intermap Technologies Corporat (IMP) +7.94% to $2.04. MacDonald, Dettwiler and Assoc (MDA) +7.08% to $26.92. Westshore Terminals Income Fun (WTE.UN) +6.12% to $10.75. Cargojet Income Fund (CJT.UN) to -5.10% to $2.79.

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