Roger Biduk; Bay Street Trims Losses

Roger Biduk;

Toronto's S&P/TSX composite index revived from a 147-point loss to close off 49.59 points at 9,016.17. Early declines in the energy sector mended even as the June crude contract in New York receded $1.46 to US$51.05 a barrel.
The TSX Venture Exchange was 12.42 points lower to 963.17.

S&P/TSX Capped Diversified Metals & Mining Index fell 2.64% as aluminum lost 1.11%, copper was 2.07% lower at $1.96 and silver was 4.91% lower to $12.11.
Red Back Mining Inc. (RBI) -6.23% to $7.080. Ivanhoe Mines Ltd. (IVN) -5.95% to $7.590. Silver Wheaton Corp. (SLW) -5.57% to $9.32.
Shares in Teck Cominco Ltd. (TSX:TCK.B) declined five cents to $8.40 after it sold an interest in production at its Andacollo mine in Chile to Royal Gold. The Vancouver-based mining giant valued the deal at US$300 million, as it struggles under a huge debt burden arising from its $14-billion acquisition of Fording Canadian Coal Trust last year.
Shares in Potash Corp. (TSX:POT) moved down $1.44 to $103.65 after unionized workers at its Lanigan mine ratified a new contract. The union says wages in general will rise 18 per cent over three years and certain jobs will have a bigger increase.

Roger Biduk;
The Canadian dollar declined 0.53 of a cent to 80.74 cents US after Statistics Canada reported that the value of building permits fell 15.9 per cent to $3.7 billion in February, largely due to a 30.5 per cent plunge in non-residential activity centred in Ontario.
The S&P/TSX Capped Information Technology Index gained 2.46% and the S&P/TSX Capped Telecom Services Index rose 0.84%.
Research in Motion Limited (RIM) +7.20% to $78.04. Aastra Technologies Limited (AAH) +5.82% to $20.90.
March Networks Corporation (MN) -10.72% to $3.08.

Indexes in Toronto and New York sustained early triple-digit declines amid new concerns about the American financial sector and nervousness ahead of first-quarter corporate reports.
Financials, particularly in the U.S., were jolted as analyst Mike Mayo at Calyon Securities warned of "the ongoing consequences of increased risk-taking by banks." Mayo predicted loan losses relative to total loans will become worse than during the Great Depression.

The S&P/TSX Capped Financial Index lost 0.75%.
Resverlogix Corp. (RVX) -12.97% to $3.22. Prime Rate Plus Corp. (PPL) -7.13% to $5.86. Noranda Income Fund (NIF.UN) -6.38% to $2.79. Dundee Corporation (DC.A) -6.38% to $5.14. Morguard Real Estate Investmen (MRT.UN) -5.66% to $9.34.

Roger Biduk;
The S&P/TSX Capped Industrial Index rose 0.81%.
Mega Brands Inc. (TSX:MB) tumbled 8.5 cents or 16 per cent to 44.5 cents after the toymaker reported deeper losses - US$323.3 million in its latest quarter.

The April crude contract on the New York Mercantile Exchange declined 2.78% to $51.05 and natural gas was down 1.83% to $3.69 as the S&P/TSX Energy Index dropped 0.73%.
Eveready Inc. (EIS) -10.92% to $2.120.

The S&P/TSX Capped Utilities Index lost 0.24%.

The S&P/TSX Global Gold Index dropped 3.21% as the April bullion contract in New York sank $24.50 to US$872.80 an ounce.
Comaplex Minerals Corp. (CMF) -10.03% to $3.05. Alamos Gold Inc. (AGI) -9.46% to $7.850. Keegan Resources Inc. (KGN) -8.16% to $2.25. Greystar Resources Ltd. (GSL) -7.89% to $3.50. Guyana Goldfields Inc. (GUY) -7.84% to $2.94.

Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 0.46% lower and the S&P/TSX Consumer Staples Index gained 0.82%.
Vicwest Income Fund (VIC.UN) +9.09% to $9.00.
Gildan Activewear Inc. (GIL) -6.19% to $10.91.

The S&P/TSX Capped Health Care Index was higher by 0.19%.

In the service sector:
Softchoice Corporation (SO) +34.88% to $2.90. Data Group Income Fund (The) (DGI.UN) +8.33% to $3.25.
Jazz Air Income Fund (JAZ.UN) -7.39% to $2.130. Intermap Technologies Corporat (IMP)
-7.56% to $2.20.
WestJet Airlines Ltd. (TSX:WJA) descended 40 cents to $11.85 after it filled 81.9 per cent of its seats last month, down from a load factor of 86.6 per cent in March 2008.

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