Roger Biduk; Financials Lift Bay Street

Roger Biduk.

A late day burst of strength from the financial sector sent the Toronto stock market slightly higher Wednesday.

The S&P/TSX Capped Financial Index, was higher today by 1.06%.
AGF Management Limited (AGF.B) +15.03% to $9.95. Sun Gro Horticulture Income Fu (GRO.UN) +13.64% to $2.50. STRATA Income Fund (STW.UN) +7.83% to $2.34. Fairfax Financial Holdings Lim (FFH) +5.80% to $327.99. Uranium Participation Corporat (U) +5.03% to $7.10.

Toronto's S&P/TSX composite index closed 14.49 points higher at 9,246.11.
The TSX Venture Exchange gained 11.02 points to 987.94 while the CDN$ was up 0.74 of a cent to 83.11 cents US.

The showing still leaves the TSX up about 20 per cent from a spring rally that got under way March 10, after indexes reached multi-year lows.

Roger Biduk
The S&P/TSX Consumer Discretionary Index was 0.18% lower and the S&P/TSX Consumer Staples Index rose 0.42%.

The U.S. Energy Department said that crude inventories grew by 5.6 million barrels, or 1.6 per cent, to 366.7 million barrels, which is 16.5 per cent above year-ago levels. That's the highest level since 1990 and more than twice the increase that had been expected.
The April crude contract on the New York Mercantile Exchange lost 0.32% to $49.25 and natural gas was up 0.11% to $3.69 as the S&P/TSX Energy Index fell 0.59%. There’s indications that falling demand is lifting U.S. crude stocks far more than expected.
OPTI Canada Inc. (OPC) +7.04% to $2.28. Vero Energy Inc. (VRO) +6.93% to 4.01. Phoenix Technology Income Fund (PHX.UN) +5.44% to $8.14.
Addax Petroleum Corporation (AXC) -5.21% to $31.27. Petrominerales Ltd. (PMG) -6.85% to $10.20.

The S&P/TSX Capped Industrials Index was up 0.01%.
Ballard Power Systems Inc. (BLD) +8.15% to $2.92. TimberWest Forest Corp. (TWF.UN) +5.02% to $3.35.

Roger Biduk
The S&P/TSX Capped Telecom Services Index was 1.36% higher.
Canwest Global Communications Corp. (TSX:CGS) said Tuesday that its Canwest Media Inc. subsidiary has been given another extension on a US$30.4-million interest payment that was due on its debt. The deal gives the company until April 21, the same deadline set by the company's senior lenders, to come up with a solution. Its shares rose two cents to 25 cents Cdn.

The S&P/TSX Capped Information Technology Index fell 1.01%.
Gennum Corporation (GND) +11.41% to $5.37.

S&P/TSX Capped Diversified Metals & Mining Index gained 0.86% as aluminum fell 1.79%, copper was 3.78% higher at $2.21 and silver gained 0.27% at $12.80.
Athabasca Potash Inc. (API) +9.86% to $3.23. Uranium One Inc. (UUU) +5.40% to $2.93.

Roger Biduk
The S&P/TSX Capped Utilities Index gained 0.01%.
Canadian Hydro Developers Inc (KHD) -7.86% to $2.58.

The S&P/TSX Global Gold Index rose 0.14% as the April bullion contract in New York fell $1.50 to US$893.50 an ounce.
Centerra Gold Inc. (CG) +7.68% $5.19. Jaguar Mining Inc. (JAG) +7.35% to $6.57.
NovaGold Resources Inc (NG) -5.76% to $3.11. Banro Corporation (BAA) -7.34% to $2.40.
Shares in developing gold miner NovaGold Resources Inc. (TSX:NG) declined 19 cents to C$3.11 after the company posted a first-quarter loss of $28.5 million versus year-ago profit of $24.2 million.
The S&P/TSX Capped Health Care Index was lower by 1.32%.

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