Roger Biduk; Bay Street Lower for Second day

Roger Biduk

The Toronto stock market closed lower for a second day, as investors continued to take profits Tuesday from a seven-week-old spring rally.

The S&P/TSX Capped Financial Index rose 0.22%.
Canaccord Capital Inc. (CCI) +8.25% to $7.22.
Canadian Oil Sands Trust (COS.UN) -6.00% to $25.05.

Toronto's S&P/TSX composite index lost 46.77 points to 9,348.03 dragged down by oil stocks as crude prices remained under pressure on concerns that the spread of swine flu could cut demand for fuel.
The TSX Venture Exchange was 9.88 points lower to 993.1 while the CDN$ was down 0.07 of a cent to 81.93 cents U.S.

Roger Biduk
S&P/TSX Capped Diversified Metals & Mining Index fell 2.21% as aluminum was flat, copper was 3.48% lower at $1.92 and silver fell 4.30% to $12.43.
Thompson Creek Metals Company (TCM.WT) +6.97% to $2.15.
Far West Mining Ltd. (FWM) -9.38% to $2.03. Fronteer Development Group Inc (FRG) -5.50% to $2.75.

The World Health Organization raised its alert on swine flu to Phase 4, meaning there is sustained human-to-human transmission of the virus causing outbreaks in at least one country.

The April crude contract on the New York Mercantile Exchange fell 0.44% to $49.92 and natural gas rose 2.32% to $3.44 as the S&P/TSX Energy Index fell 1.22%.
Peyto Energy Trust (PEY.UN) -6.28% to $9.40. Petrominerales Ltd. (PMG) -5.23% to $10.52.
Parkland Income Fund (PKI.UN) +9.74% to $8.56. Xtreme Coil Drilling Corp. (XDC) +6.78% to $3.15. Heritage Oil Corporation (HOC) +6.59% to $7.60.
Oil prices had earlier fell sharply amid the swine flu concerns as investors worried about lower demand. But losses were pared sharply mid-afternoon.

Roger Biduk
There has been concern that the spread of the disease could escalate to a full-blown pandemic and derail the economic rally, which has been based on hopes the worst of the economic damage from the recession is already factored in.

The S&P/TSX Capped Telecom Services Index was 1.18% higher and the S&P/TSX Capped Information Technology Index rose 1.05%.
CryptoLogic Limited (CRY) +16.26% to $8.15. Matrikon Inc. (MTK) +5.85% to $2.17. Bridgewater Systems Corporatio (BWC) +5.00% to $4.20.

However, analysts point out that the market was already vulnerable after a string of gains that have taken the TSX up about 24% since March 10.

In the Service sector:
Calian Technologies Ltd. (CTY) +10.69% to $16.05. Trimac Income Fund (TMA.UN) +6.48% to $2.63. MacDonald, Dettwiler and Assoc (MDA) +5.42% to $28.81. Data Group Income Fund (The) (DGI.UN) +5.28% to $4.19.

Roger Biduk
Petro-Canada (TSX:PCA) reported a quarterly loss of $47 million, which marked a sharp reversal from a profit of $1.08 billion during the same quarter the year before and its shares were up $.07 to $37.65.

The S&P/TSX Consumer Discretionary Index was 0.69% lower and the S&P/TSX Consumer Staples Index rose 0.25%.
Saputo Inc. (SAP) +5.57% to $23.12.
Viterra Inc. (VT) -10.18% to $8.47. Linamar Corporation (LNR) -6.55% to $4.28.

Nexen Inc. (TSX:NXY) shares slipped $.19 to $22.84 as it reported net income of $135 million for the quarter, down sharply from year-earlier profit of $630 million. Quarterly revenue fell to $1.31 billion from year-earlier levels of $2.09 billion.

The S&P/TSX Global Gold Index fell 2.37% as the April bullion contract in New York tanked $14.60 to US$893.60 an ounce.
Greystar Resources Ltd. (GSL) +8.97% to $4.25.
Laramide Resources Ltd. (LAM) -8.09% to $2.16.

Roger Biduk
Shares in UTS Energy Corp. (TSX:UTS) fell $.06 to $1.52 after French oil giant Total SA dropped its bid to take over the Canadian oilsands player. UTS, a partner in the Fort Hills oilsands project in Alberta had earlier rejected Total's $830 million offer as inadequate.

The S&P/TSX Capped Health Care Index was higher by 1.34%.

Shoppers Drug Mart Corp. (TSX:SC) shares rose $.69 to $44.84 as the company overcame both an ailing economy and a later Easter shopping season to post a six per cent increase in its first quarter profits.

The S&P/TSX Capped Industrials Index was down 0.64%.
ATS Automation Tooling Systems (ATA) -10.07% to $4.11. International Forest Products (IFP.A) -6.91% to $2.29.
ADF Group Inc. (DRX) +6.44% to $2.15.

And shares in sporting goods retailer Forzani Group Ltd. (TSX:FGL) gained $.18 to $12.24 after it said it plans to increase its sales by 10 per cent a year over five years by reducing its banner count and expanding its Sport Chek outlets.

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