Roger Biduk;
Brutal week on Bay Street.
Another great week to short the markets with Exchange Traded Funds (ETFs).
Stock markets closed lower Friday with bank and insurance stocks under the gun ahead of a weekend meeting of G7 finance ministers and central bankers, who will address the ongoing global financial crisis.
Toronto's S&P/TSX composite index declined 100.68 points to 8,678.1 for a loss of 330 points or 3.66 per cent this week, led by sliding financial and commodity stocks. Gold companies advanced during the week.
The TSX Venture Exchange was up 9.77 points to 925.64.
The CDN$ was 0.7 cent higher to 81.03 cents US on Friday.
In other news, a Q400 Bombardier aircraft operated by Manassas, Va.-based Colgan Air crashed into a house just outside Buffalo, N.Y. Thursday night, killing all 49 people aboard and a person in the home. It was first fatal crash of a commercial airliner in the U.S. in 2 1/2 years. Bombardier Inc. (TSX:BBD.B) shares were down 24 cents to $3.29 Friday.
The S&P/TSX Capped Financial Index was down 2.37 per cent with Royal Bank (TSX:RY) 94 cents lower to $29.80 while Scotiabank (TSX:BNS) moved down 63 cents to $29.32.
Manulife Financial Corp. (TSX:MFC) shares were down 67 cents to $17.53 after losing $1.16 Thursday following a report by the company that it lost $1.87 billion in the fourth quarter. That was even worse than the $1.5-billion loss estimated in early December.
Sprott Inc. (SII) soared 11.03% to $4.63. Cymbria Corp. (CYB) gained 8.40% to $12.00 Savanna Energy Serv. (SVY) jumped 8.00% to $6.21. Uranium Part. Corp. (U) gained 7.53% to $7.00.Resverlogix Corp. (RVX) up by 6.42% to $3.38.
BAM Inv. (BNB) tanked 7.50% to $9.25. Connor, Clark & Lunn Global Fin. (GFT.UN) sank 6.47% to $4.05. US Financial 15 Split (FTU.PR.A) lost 6.04% to $3.11. Noranda Income Fund (NIF.UN) lower by 5.44% to $3.65. IGM Financial (IGM) down 5.41% to $31.80.
The March crude contract on the New York Mercantile Exchange soared 10.39% to US$37.51 a barrel and the S&P/TSX Energy Index was up .31%.
Pacific Rubiales Energy Corp. (PRE) soared 25.94% to $4.03. Angle energy (NGL) jumped 10.06% to $3.50. Trinidad Drilling (TDG) gained 9.12% to $2.99. Addax Petroleum Corp. (AXC) higher by 6.93% to $24.83.
EnCana Corp. (TSX:ECA) gained 70 cents to $54.11.
Roger Biduk;
The S&P/TSX Capped Diversified Metals & Mining Index was up 1.86% as aluminum dropped 2.70%, copper gained .26% and silver gained .85%.
Quadra Mining (QUA) jumped 6.59% to $3.88. Moto Goldmines Ltd. (MGL) gained 5.75% to $2.76.
New Gold (NGD) sank 6.87% to $2.71.
NovaGold Resources Inc. (TSX:NG) and Teck Cominco Ltd. (TSX:TCK.B) have a new agreement for funding their stalled Galore Creek copper-silver project in northwestern British Columbia. NovaGold shares were up 16 cents to $4.49 while Teck shares dipped eight cents to $4.92.
The S&P/TSX Global Gold Index dropped 2.96% as the April bullion contract in New York dropped $7.00 to US$942.20 an ounce.
US Gold corp. (UXG) soared 18.14% to $2.80. Premier Gold Mines (PG) jumped 16,29% to $2.57. US Gold Canadian Acquisition (UXE) gaining 13.04% to $2.60. First Quantum minerals (FM) up by 11.61% to $32.20. Imperial Metals (III) up by 6.58% to $2.59.
Keegan Res. (KGN) lost 6.61% to $2.12. Barrick Gold Corp. (TSX:ABX) faded $1.83 to $46.70.
The S&P/TSX Capped Information Technology Index dropped 2.74% and the S&P/TSX Capped Telecom Services Index was down .21%.
Ruggedcom (RCM) jumped 9.89% to $20.88. Computer Modeling Gr. (CMG) gained 9.26% to $8.85.
Vecima Networks (VCM) sank 11.27% to $5.75.
Research In Motion Ltd. (TSX:RIM) was also a weight on the TSX. Its shares fell $3 to $60.05, wiping out most of Thursday's gain. The stock took a 15 per cent hit on Wednesday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance. The fall came as Credit Suisse analyst Kulbinder Garcha cut his rating on the BlackBerry maker to under perform from neutral. He also slashed his earnings expectations for the February 2010 fiscal year and reduced his price target to US$37 from US$45.
Roger Biduk;
On the earnings front, Air Canada (TSX:AC.B) shares tumbled 48 cents or 25 per cent to $1.45 after the airline said Friday volatility in both fuel prices and foreign exchange rates drove 2008 financial results into the red for both the fourth-quarter and full year. Air Canada reported a fourth-quarter loss of $727 million, reversing year-earlier profits of $35 million.
Soaring fuel prices took a toll on Air Canada's full-year financial results as well, prompting the company to report a loss of $1.03 billion, reversing year-earlier profits of $429 million.
Telus Corp. (TSX:T) fourth-quarter profits were down 29 per cent to $285 million and its shares declined $1.04 to $34.
Oil and gas pipeline firm Enbridge Inc. (TSX:ENB) reported Friday a fourth-quarter profit of $263.4 million, up six per cent from the year-earlier quarter, with a boost from a stronger U.S. dollar. That was up from $248.6 million a year ago and its shares slipped 15 cents to $41.45.
Shares in CAE Inc. (TSX:CAE) rose 12 cents to $7.57 after the federal government said it is awarding the Montreal company a contract worth more than $300 million to build flight simulators for the Canadian Forces.
The S&P/TSX Consumer Discretionary Index was down .27% and the S&P/TSX Consumer Staples Index was up .41% as Glidan Activeware (GIL) sank 5.24% to $9.05.
The S&P/TSX Capped Health Care Index was higher by .13% as Cangene corp. (CNJ) gained 5.56% to $5.70.
The S&P/TSX Capped Utilities Index dropped .81%.
The S&P/TSX Capped Industrial Index was down 1.18% as ATS Automation (ATA) lost 5.74% to $3.94.
Vector Aerospace (RNO) jumped 8.53% to $4.07.
North American markets are closed Monday. The TSX is shuttered as Ontario observes Family Day while New York is closed for Presidents' Day.
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Sunday, February 15, 2009
Thursday, February 12, 2009
Roger Biduk; Bay Street Rallies at Day's End
Roger Biduk:
The Toronto stock market staged a late session turnaround to close higher as losses in financials and energy stocks moderated.
Toronto's S&P/TSX composite index came back from a 147-point slide to gain 40.89 points to 8,778.78 as the market found relief from telecom and base metals stocks. Investors were also pleased with reports from a couple of big retailers.
The TSX Venture Exchange gained 4.61 points to 915.87.
The Canadian dollar dipped 0.13 of a cent to 80.33 cents US.
The S&P/TSX Capped Financial Index was down .77%.
Yellow Pages Income Fund (YLO.UN) jumped 6.70% to $5.57. Resverlogix Corp. (RVX) higher by 7.57% to $3.27.
Financial 15 Split Corp. (FFN) tanked 19.20% to $2.02. Prime Rate Plus Corp. (PPL) sank 14.08% to $2.93. Kingsway Financial Services Inc. (KFS) lower by 13.71% to $3.40. Canada life Corporate Split (LFE) down by 9.20% to $2.96. Crombie Real Estate Inv. (CRR.UN) lower by 6.96% to $7.09.
Manulife Financial Corp. (TSX:MFC) shares fell $1.16 to $18.20 after the big life insurer reported it lost $1.87 billion in the fourth quarter - even worse than the $1.5-billion loss estimated in early December. The company said Thursday its full-year earnings dropped to $517 million, down 88 per cent from $4.3 billion in 2007 and its shares moved $1.16 lower to $18.20 as investors also worried if the company would maintain the current level of dividend payments.
Great-West Lifeco Inc. (TSX:GWO) shares were down 35 cents to $18.20 after the company posted a $907-million quarterly loss as it booked a $1.35-billion charge on its Putnam subsidiary in the U.S. Adjusted net income came in at $525 million, up six per cent from a year ago.
Shares in Sunlife Financial Inc. (TSX:SLF) shook off early losses and closed up 15 cents to $23.15 after it said quarterly earnings slid to $129 million, down from year-earlier profits of $555 million. Quarterly revenue came in at $4.7 billion, down from $5.4 billion reported during the same period in 2007. Full-year earnings shrank to $785 million from 2007 profits of $2.2 billion.
The March crude contract on the New York Mercantile Exchange sank 5.45% to US$33.98 a barrel, the lowest close of 2009.
The S&P/TSX Energy Index was down .24%.
There were concerns about how much the stimulus package will spur demand and sharply rising American oil inventories. So far, crude has fallen 20 per cent this week.
Shares in Nexen Inc. (TSX:NXY) were down 47 cents to $16.97 after the company recorded a quarterly loss of $181 million, reversing year-earlier profits of $194 million. Nexen said quarterly results were hurt by approximately $318 million in impairment charges related to its properties in the North Sea and the Gulf of Mexico.
EnCana Corp. (TSX:ECA) reported that fourth-quarter earnings slipped to US$1.07 billion from US$1.08 billion recorded a year ago. Earnings per share remained flat at US$1.43. Quarterly cash flow fell to US$1.3 billion from year-earlier levels of US$1.9 billion and its shares improved 29 cents to C$53.41.
Canadian Superior Energy Inc. (TSX:SNG) shares fell 47 cents or 43.35 per cent to 64 cents and hit a multi-year low of 51 cents after a subsidiary of BG Group PLC got a court to put the Canadian company's interest in an off-shore exploration block near Trinidad under the control of a receiver. Canadian Superior says it disputes an allegation that it owes US$47 million to pay for its share of the costs under an agreement with BG.
Roger Biduk:
The S&P/TSX Capped Information Technology Index gained 1.49% and the S&P/TSX Capped Telecom Services Index was up 2.64%.
Bridgewater Systems Corp. (BWC) jumped 8.00% to $3.78. RuggedCom Inc. (RCM) rose 6.20% to $19.00.
Research in Motion (RIM) gained 5.08% to $63.05. The BlackBerry maker's stock plunged 15 per cent yesterday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance.
Vecima Networks Inc. (VCM) sank 5.40% to $6.48.
Rogers Communications (TSX:RCI.B) ahead $1.15 to $35 and Telus Corp. (TSX:T) advanced $1.54 to $35.04 .
The S&P/TSX Capped Diversified Metals & Mining Index jumped 2.08 after soaring 4.63% yesterday as aluminum dropped 2.70%, copper dipped .36% and silver was flat.
Ivanhoe Mines (IVN) jumping 9.07% to $5.05 after surging 19 per cent on Wednesday. First Majestic Silver Corp.(FR) sank 5.70% to $2.81. New Gold (NGD) down 5.52% to $2.91.
The S&P/TSX Consumer Discretionary Index was up .49% and the S&P/TSX Consumer Staples Index was up .86%.
Gildan Activewear Inc. (GIL) tanked 23.90% to $9.55 after it reported it earned US$4.3 million in its most recent quarter as sales sagged 26.5 per cent from a year earlier to US$184 million.
Canadian Tire (TSX:CTC.A) said its profit in the fourth quarter fell nearly 23 per cent to C$101.2 million compared with the a year before. Gross operating revenue rose to $2.59 billion from $2.5 billion and its shares gained $2.15 to $40.85.
Drug store operator Shoppers Drug Mart (TSX:SC) is reporting a fourth-quarter profit of $173 million, up 14.4 per cent from a year-earlier. Revenue showed a strong increase, up 15.1 per cent to $2.5 billion, a trend it expects to continue through 2009. Its shares advanced $1.45 to $43.
Roger Biduk:
The S&P/TSX Capped Health Care Index was lower by .06%.
The S&P/TSX Capped Utilities Index gained 1.18%.
The S&P/TSX Capped Industrial Index was up .41%.
BFI Canada ltd. (BFC) lower by 6.73% to $9.57. ATS Automation Tooling Systems (ATA) sank 7.32% to $4.18.
The S&P/TSX Global Gold Index gained .48% as the April bullion contract in New York moved up $4.70 to US$949.20 an ounce.
Kirkland Lake Gold (KGI) soaring 7.10% to $6.64. US Gold Corp. (UXG) down 5.20% to $2.37.
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The Toronto stock market staged a late session turnaround to close higher as losses in financials and energy stocks moderated.
Toronto's S&P/TSX composite index came back from a 147-point slide to gain 40.89 points to 8,778.78 as the market found relief from telecom and base metals stocks. Investors were also pleased with reports from a couple of big retailers.
The TSX Venture Exchange gained 4.61 points to 915.87.
The Canadian dollar dipped 0.13 of a cent to 80.33 cents US.
The S&P/TSX Capped Financial Index was down .77%.
Yellow Pages Income Fund (YLO.UN) jumped 6.70% to $5.57. Resverlogix Corp. (RVX) higher by 7.57% to $3.27.
Financial 15 Split Corp. (FFN) tanked 19.20% to $2.02. Prime Rate Plus Corp. (PPL) sank 14.08% to $2.93. Kingsway Financial Services Inc. (KFS) lower by 13.71% to $3.40. Canada life Corporate Split (LFE) down by 9.20% to $2.96. Crombie Real Estate Inv. (CRR.UN) lower by 6.96% to $7.09.
Manulife Financial Corp. (TSX:MFC) shares fell $1.16 to $18.20 after the big life insurer reported it lost $1.87 billion in the fourth quarter - even worse than the $1.5-billion loss estimated in early December. The company said Thursday its full-year earnings dropped to $517 million, down 88 per cent from $4.3 billion in 2007 and its shares moved $1.16 lower to $18.20 as investors also worried if the company would maintain the current level of dividend payments.
Great-West Lifeco Inc. (TSX:GWO) shares were down 35 cents to $18.20 after the company posted a $907-million quarterly loss as it booked a $1.35-billion charge on its Putnam subsidiary in the U.S. Adjusted net income came in at $525 million, up six per cent from a year ago.
Shares in Sunlife Financial Inc. (TSX:SLF) shook off early losses and closed up 15 cents to $23.15 after it said quarterly earnings slid to $129 million, down from year-earlier profits of $555 million. Quarterly revenue came in at $4.7 billion, down from $5.4 billion reported during the same period in 2007. Full-year earnings shrank to $785 million from 2007 profits of $2.2 billion.
The March crude contract on the New York Mercantile Exchange sank 5.45% to US$33.98 a barrel, the lowest close of 2009.
The S&P/TSX Energy Index was down .24%.
There were concerns about how much the stimulus package will spur demand and sharply rising American oil inventories. So far, crude has fallen 20 per cent this week.
Shares in Nexen Inc. (TSX:NXY) were down 47 cents to $16.97 after the company recorded a quarterly loss of $181 million, reversing year-earlier profits of $194 million. Nexen said quarterly results were hurt by approximately $318 million in impairment charges related to its properties in the North Sea and the Gulf of Mexico.
EnCana Corp. (TSX:ECA) reported that fourth-quarter earnings slipped to US$1.07 billion from US$1.08 billion recorded a year ago. Earnings per share remained flat at US$1.43. Quarterly cash flow fell to US$1.3 billion from year-earlier levels of US$1.9 billion and its shares improved 29 cents to C$53.41.
Canadian Superior Energy Inc. (TSX:SNG) shares fell 47 cents or 43.35 per cent to 64 cents and hit a multi-year low of 51 cents after a subsidiary of BG Group PLC got a court to put the Canadian company's interest in an off-shore exploration block near Trinidad under the control of a receiver. Canadian Superior says it disputes an allegation that it owes US$47 million to pay for its share of the costs under an agreement with BG.
Roger Biduk:
The S&P/TSX Capped Information Technology Index gained 1.49% and the S&P/TSX Capped Telecom Services Index was up 2.64%.
Bridgewater Systems Corp. (BWC) jumped 8.00% to $3.78. RuggedCom Inc. (RCM) rose 6.20% to $19.00.
Research in Motion (RIM) gained 5.08% to $63.05. The BlackBerry maker's stock plunged 15 per cent yesterday after it said its fourth-quarter profits will come in at the lower end of the company's previous guidance.
Vecima Networks Inc. (VCM) sank 5.40% to $6.48.
Rogers Communications (TSX:RCI.B) ahead $1.15 to $35 and Telus Corp. (TSX:T) advanced $1.54 to $35.04 .
The S&P/TSX Capped Diversified Metals & Mining Index jumped 2.08 after soaring 4.63% yesterday as aluminum dropped 2.70%, copper dipped .36% and silver was flat.
Ivanhoe Mines (IVN) jumping 9.07% to $5.05 after surging 19 per cent on Wednesday. First Majestic Silver Corp.(FR) sank 5.70% to $2.81. New Gold (NGD) down 5.52% to $2.91.
The S&P/TSX Consumer Discretionary Index was up .49% and the S&P/TSX Consumer Staples Index was up .86%.
Gildan Activewear Inc. (GIL) tanked 23.90% to $9.55 after it reported it earned US$4.3 million in its most recent quarter as sales sagged 26.5 per cent from a year earlier to US$184 million.
Canadian Tire (TSX:CTC.A) said its profit in the fourth quarter fell nearly 23 per cent to C$101.2 million compared with the a year before. Gross operating revenue rose to $2.59 billion from $2.5 billion and its shares gained $2.15 to $40.85.
Drug store operator Shoppers Drug Mart (TSX:SC) is reporting a fourth-quarter profit of $173 million, up 14.4 per cent from a year-earlier. Revenue showed a strong increase, up 15.1 per cent to $2.5 billion, a trend it expects to continue through 2009. Its shares advanced $1.45 to $43.
Roger Biduk:
The S&P/TSX Capped Health Care Index was lower by .06%.
The S&P/TSX Capped Utilities Index gained 1.18%.
The S&P/TSX Capped Industrial Index was up .41%.
BFI Canada ltd. (BFC) lower by 6.73% to $9.57. ATS Automation Tooling Systems (ATA) sank 7.32% to $4.18.
The S&P/TSX Global Gold Index gained .48% as the April bullion contract in New York moved up $4.70 to US$949.20 an ounce.
Kirkland Lake Gold (KGI) soaring 7.10% to $6.64. US Gold Corp. (UXG) down 5.20% to $2.37.
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Wednesday, February 11, 2009
Roger Biduk; Bay Street lower on RIM & Energy.
Roger Biduk;
An attempt to recover from big losses on the Toronto stock market was partly foiled Wednesday by a sharp pullback in Research In Motion Ltd. (TSX:RIM) shares after the BlackBerry maker issued a profit warning.
Toronto's S&P/TSX composite index declined 80 points to 8,737.89 after tumbling 229 points in the previous session on disappointment over the U.S. government's plans for reshaping its financial rescue fund.
The TSX Venture Exchange edged up 9.17 points to 911.26.
The Canadian dollar closed up 0.22 cent to 80.46 cents US, after losing almost two cents Tuesday.
Leading ETFs (Exchange Traded Funds) higher were Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) soaring 13.82% to $14.82. PowerShares DB Crude Oil Double Short ETN (DOE-T) jumping 11.61% to $254.25. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) up 9.18% to $35.10.
Statistics Canada reported Canada recorded a trade deficit of $458 million in December - the first such deficit since March 1976 as exports dropped 9.7 per cent while imports fell 5.7 per cent.
Energy stocks were also a major source of weakness in Toronto and New York as a report showed U.S. crude inventories rose for a seventh straight week, up 4.7 million barrels to an 18-month high. The data sent the March crude contract on the New York Mercantile Exchange down 4.29% to US$35.94 a barrel and the S&P/TSX Energy Index was down 1.71%.
EnCana Corp. (TSX:ECA) fell $2.19 to $53.12 and Canadian Natural Resources (TSX:CNQ) dropped $1.74 to $43.14. Pacific Rubiales Energy (PRE) soared 11.47% to $3.11. Orleans Energy (OEX) jumped 7.50% to $2.15. Heritage Oil (HOC) gained 5.48% to $3.85.
Nexen (NXY) dropped 5.47% to $17.44. Eveready (EIS) tanked 10.26% to $5.25.
Roger Biduk:
The S&P/TSX Capped Financial Index was down 1.39 per cent on top of Tuesday's four per cent loss with Scotiabank (TSX:BNS) down 66 cents to $29.52 and Royal Bank (TSX:RY) gave back 35 cents to $30.35.
Crown hill fund (MYT.UN) soared 13.69% to $4.90. Dynasty Metals & Mining (DMM) jumped 10.92% to $4.47. Resverlogix Corp. (RVX) rose 9.75% to $3.04. Franco Nevada Corp. (FNV) up 6.04% to $6.04.
Amalgamated Income ltd. Part. (AL.UN) tanked 12.00% to $2.42. Global banks Premium Income Tr. (GBP.UN) sank 11.38% to $2.18. Copernican World Banks Split (CBW.PR.A) dropped 8.75% to $2.92. Noranda Income Fund (NIF.UN) dropped 8.02% to $3.90. Kingsway Financial Services (KFS) sank 7.94% to $3.94.
The S&P/TSX Global Gold Index soared 7.68% as the April bullion contract in New York moved up $30.30 to US$944.50 an ounce.
Goldcorp Inc. (TSX:G) advanced $2.22 to $39.05 while Barrick Gold Corp. (TSX:ABX) climbed $1.73 to $47.92. Vista Gold (VGZ) soared 16.18% to $3.16. Kinross Gold (K.WT.C) jumped 15.60% to $15.60. Great Basin Gold (GBG) rose 13.64% to $2.00. Greystar Res. (GSL) rose 13.21% to $3.00. Int’l. Minerals Corp. (IMZ) up 12.68% to $3.20.
The S&P/TSX Capped Divesified Metals & Mining Index soared 4.63% as aluminum dropped 2.64%, copper dipped 2.28% and silver gained 2.97%.
Ivanhoe Mines (TSX:IVN) ran ahead 74 cents or 19 per cent to $4.63 and Inmet Mining Corp. (TSX:IMN) gained $2.30 to $27.95. Silver Wheaton (SLW) soared 13.35% to $9.00. Keegan Resources (KNG) rose 10.00% to $2.20. Gabriel Res. (GBU) gained 9.09% to $2.76. Red Back Mining (RBI) gained 8.74% to $7.84.
But Grande Cache Coal Corp. (TSX:GCE) shares fell eight cents to 77 cents after announcing it is cutting 100 jobs and scaling back output by 25 per cent to deal with slumping steel demand that has led its customers to defer coal purchases into 2010.
Roger Biduk:
The S&P/TSX Capped Information Technology Index tanked 5.44% and the S&P/TSX Capped Telecom Services Index was down .21%.
AXIA NetMedia Corp. (AXX) jumped 10.80% to $2.36.
Reasearch in Motion (RIM) tanked 15.35% to $60.00.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was down 1.81%.
The S&P/TSX Capped Health Care Index was higher by .99%.
The S&P/TSX Capped Utilities Index dropped 1.84%.
The S&P/TSX Capped Industrial Index was down 1.22%.
In other earnings news, BCE Inc. (TSX:BCE) posted a fourth-quarter loss of $48 million or six cents per share on investment losses and writedowns. The telecom company also boosted its dividend five per cent and its shares were ahead 36 cents to $25.49.
WestJet shares (TSX:WJA) dropped 80 cents to $12.95 as fourth-quarter profit fell to $40.8 million from $75.4 million.
Fourth-quarter profits at fertilizer producer Agrium Inc. (TSX:AGU) fell to $124 million from $172 million, but its annual profit of $1.3 billion more than tripled its previous record earnings in 2007. Agrium shares rose $1.20 to $47.21. CAE Inc. (TSX:CAE) rose nine cents to $7.39 after the Montreal-based global leader in flight simulators reported a 35 per cent climb in quarterly net profit to $53.3 million as revenue rose 23 per cent to $424.6 million.
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An attempt to recover from big losses on the Toronto stock market was partly foiled Wednesday by a sharp pullback in Research In Motion Ltd. (TSX:RIM) shares after the BlackBerry maker issued a profit warning.
Toronto's S&P/TSX composite index declined 80 points to 8,737.89 after tumbling 229 points in the previous session on disappointment over the U.S. government's plans for reshaping its financial rescue fund.
The TSX Venture Exchange edged up 9.17 points to 911.26.
The Canadian dollar closed up 0.22 cent to 80.46 cents US, after losing almost two cents Tuesday.
Leading ETFs (Exchange Traded Funds) higher were Horizons BetaPro S&P/TSX Global Gold Bull+ETF (HGU-T) soaring 13.82% to $14.82. PowerShares DB Crude Oil Double Short ETN (DOE-T) jumping 11.61% to $254.25. Horizons BetaPro NYMEX Crude Oil Bear+ ETF (HOD-T) up 9.18% to $35.10.
Statistics Canada reported Canada recorded a trade deficit of $458 million in December - the first such deficit since March 1976 as exports dropped 9.7 per cent while imports fell 5.7 per cent.
Energy stocks were also a major source of weakness in Toronto and New York as a report showed U.S. crude inventories rose for a seventh straight week, up 4.7 million barrels to an 18-month high. The data sent the March crude contract on the New York Mercantile Exchange down 4.29% to US$35.94 a barrel and the S&P/TSX Energy Index was down 1.71%.
EnCana Corp. (TSX:ECA) fell $2.19 to $53.12 and Canadian Natural Resources (TSX:CNQ) dropped $1.74 to $43.14. Pacific Rubiales Energy (PRE) soared 11.47% to $3.11. Orleans Energy (OEX) jumped 7.50% to $2.15. Heritage Oil (HOC) gained 5.48% to $3.85.
Nexen (NXY) dropped 5.47% to $17.44. Eveready (EIS) tanked 10.26% to $5.25.
Roger Biduk:
The S&P/TSX Capped Financial Index was down 1.39 per cent on top of Tuesday's four per cent loss with Scotiabank (TSX:BNS) down 66 cents to $29.52 and Royal Bank (TSX:RY) gave back 35 cents to $30.35.
Crown hill fund (MYT.UN) soared 13.69% to $4.90. Dynasty Metals & Mining (DMM) jumped 10.92% to $4.47. Resverlogix Corp. (RVX) rose 9.75% to $3.04. Franco Nevada Corp. (FNV) up 6.04% to $6.04.
Amalgamated Income ltd. Part. (AL.UN) tanked 12.00% to $2.42. Global banks Premium Income Tr. (GBP.UN) sank 11.38% to $2.18. Copernican World Banks Split (CBW.PR.A) dropped 8.75% to $2.92. Noranda Income Fund (NIF.UN) dropped 8.02% to $3.90. Kingsway Financial Services (KFS) sank 7.94% to $3.94.
The S&P/TSX Global Gold Index soared 7.68% as the April bullion contract in New York moved up $30.30 to US$944.50 an ounce.
Goldcorp Inc. (TSX:G) advanced $2.22 to $39.05 while Barrick Gold Corp. (TSX:ABX) climbed $1.73 to $47.92. Vista Gold (VGZ) soared 16.18% to $3.16. Kinross Gold (K.WT.C) jumped 15.60% to $15.60. Great Basin Gold (GBG) rose 13.64% to $2.00. Greystar Res. (GSL) rose 13.21% to $3.00. Int’l. Minerals Corp. (IMZ) up 12.68% to $3.20.
The S&P/TSX Capped Divesified Metals & Mining Index soared 4.63% as aluminum dropped 2.64%, copper dipped 2.28% and silver gained 2.97%.
Ivanhoe Mines (TSX:IVN) ran ahead 74 cents or 19 per cent to $4.63 and Inmet Mining Corp. (TSX:IMN) gained $2.30 to $27.95. Silver Wheaton (SLW) soared 13.35% to $9.00. Keegan Resources (KNG) rose 10.00% to $2.20. Gabriel Res. (GBU) gained 9.09% to $2.76. Red Back Mining (RBI) gained 8.74% to $7.84.
But Grande Cache Coal Corp. (TSX:GCE) shares fell eight cents to 77 cents after announcing it is cutting 100 jobs and scaling back output by 25 per cent to deal with slumping steel demand that has led its customers to defer coal purchases into 2010.
Roger Biduk:
The S&P/TSX Capped Information Technology Index tanked 5.44% and the S&P/TSX Capped Telecom Services Index was down .21%.
AXIA NetMedia Corp. (AXX) jumped 10.80% to $2.36.
Reasearch in Motion (RIM) tanked 15.35% to $60.00.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was down 1.81%.
The S&P/TSX Capped Health Care Index was higher by .99%.
The S&P/TSX Capped Utilities Index dropped 1.84%.
The S&P/TSX Capped Industrial Index was down 1.22%.
In other earnings news, BCE Inc. (TSX:BCE) posted a fourth-quarter loss of $48 million or six cents per share on investment losses and writedowns. The telecom company also boosted its dividend five per cent and its shares were ahead 36 cents to $25.49.
WestJet shares (TSX:WJA) dropped 80 cents to $12.95 as fourth-quarter profit fell to $40.8 million from $75.4 million.
Fourth-quarter profits at fertilizer producer Agrium Inc. (TSX:AGU) fell to $124 million from $172 million, but its annual profit of $1.3 billion more than tripled its previous record earnings in 2007. Agrium shares rose $1.20 to $47.21. CAE Inc. (TSX:CAE) rose nine cents to $7.39 after the Montreal-based global leader in flight simulators reported a 35 per cent climb in quarterly net profit to $53.3 million as revenue rose 23 per cent to $424.6 million.
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Tuesday, February 10, 2009
Roger Biduk; CDN$ & Bay Street Tank
Roger Biduk:
The Toronto stock market and the Canadian dollar both tanked Tuesday on disappointment with U.S. Treasury Secretary Timothy Geithner's plan to help the financial sector.
Toronto's S&P/TSX composite index snapped a five-session winning streak to close down 229.39 points or 2.5 per cent to 8,817.89 led by a four per cent drop in the financial sector.
The TSX Venture Exchange was 0.99 of a point higher to 902.09.
The Canadian dollar tanked 1.97 cents to 80.24 cents US - after going as low as 80.04 cents as disappointment with the Geithner announcement sparked a selloff of a string of currencies in favour of the U.S. dollar.
Investors were also focused on Bank of Canada governor Mark Carney, who reiterated to a parliamentary committee that he expects the economy to rebound in 2010, growing by 3.8 per cent.
Many economists regard this as overly optimistic, but Carney said "such a recovery is actually more muted than usual," after what will be a difficult 2009.
ETFs (Exchange Traded Funds) that short the market, that is, they go up when everything goes down (my favorite since last January) were the best gainers in Toronto.
Horizons BetaPro NYMEX Natural Gas Bear ETF (HND) soared 11.54% to $45.54. Horizons BetaPro MSCI Emerging Markets Bear ETF (HJD-T) jumped 11.01% to %15.32. Horizons BetaPro S&P 500 Bear Plus ETF (HSD-T) was up 10.07% to $33.88. Horizons BetaPro NYMEX Crude Oil Bear ETF (HOD-T). Horizons BetaPro NASDAQ-100 Bear Plus ETF (HQD-T) gained 8.28% to $34.40.
Roger Biduk
The S&P/TSX Capped Financial Index sank 3.97% as TD Bank (TSX:TD) was down $1.57 to $39.12 and Bank of Montreal (TSX:BMO) fell $1.42 to $30.36. Savanna Energy Services (SVY) sank 12.13% to $5.94. Dundee Corp. (DC.A) dropped 11.01% to $5.09. Noranda Income fund (NIF.UN) dropped 9.98% to $4.24.
The S&P/TSX Energy Index tanked 4.44% per cent as the March crude contract in New York lost $2.01 to US$37.55 a barrel. Petro-Canada (TSX:PCA) declined $1.55 to $28.26 and EnCana Corp. (TSX:ECA) gave back $2.55 to $55.31.
Tusk Energy Corp. (TSX:TSK) announced a deal to be taken over by a unit of Teachers Insurance and Annuity Association of America in a deal valued at $257 million. Its shares soared $1.22 or 142 per cent to $2.08.
Pacific Rubiales Energy (PRE) tanked 9.71% to $2.79. Trinidad Drilling (TDG) sank 9.49% to $2.67. Highpine Oil & Gas (HPX) dropped 7.77% to $4.63.
The S&P/TSX Global Gold Index was up .30% as the April bullion contract in New York rose $21.40 to US$914.20 an ounce.
Goldcorp Inc. (TSX:G) climbed 74 cents to $36.83. First Quantum Minerals (FM) sank 13.03% to $26.96. Centerra Gold (CG) dropped 11.31% to $4.47. Aquiline Res. (AQI) sank 10.91% to $2.45. European Goldfields (EGU) dropped 7.86% to $2.93.
The S&P/TSX Capped Divesified Metals & Mining Index tanked 8.70% as aluminum dropped 2.64%, copper dipped 2.29% and silver gained 2.34%8.7 per cent with Teck Cominco Ltd. (TSX:TCK.B) down 54 cents to $4.96 and Quadra Mining (QUA) tanked 13.25% to $3.47. Ivanhoe Mines (IVN) sank 11.19%.
Shares in Inmet Mining (TSX:IMN) were off 96 cents to $25.65 after a fourth-quarter loss of $32.5 million on asset writedowns and low metal prices.
A Japanese consortium is paying $270 million for a 19.95 per cent interest in Uranium One Inc. (TSX:UUU). The Toronto-headquartered miner is active in Kazakhstan, the United States and South Africa and its shares climbed eight cents to $2.09 .
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.43% and the S&P/TSX Capped Telecom Services Index was down .75%.
Data encryption specialist Certicom Corp. (TSX:CIC) says it has been told by VeriSign Inc. that the California company will not match a $3-a-share takeover offer from Research In Motion Ltd. (TSX:RIM). RIM's proposal topped a $2.10-per-share price previously agreed to between VeriSign and Certicom. Certicom shares declined 29 cents to $2.97 while RIM ticked 92 cents lower to $70.88.
The S&P/TSX Consumer Discretionary Index dropped 2.00% and the S&P/TSX Consumer Staples Index was down .98%.
The S&P/TSX Capped Health Care Index sank 3.87%.
The S&P/TSX Capped Utilities Index was lower by 1.18%.
The S&P/TSX Capped Industrial Index dropped 2.67%.
Molson Coors Brewing Co. (TSX:TAP) reported a steep drop in fourth-quarter earnings to US$96.8 million "due to unfavourable foreign currency and slowing industry trends." In New York, its shares were down $3.20 at US$37.30.
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The Toronto stock market and the Canadian dollar both tanked Tuesday on disappointment with U.S. Treasury Secretary Timothy Geithner's plan to help the financial sector.
Toronto's S&P/TSX composite index snapped a five-session winning streak to close down 229.39 points or 2.5 per cent to 8,817.89 led by a four per cent drop in the financial sector.
The TSX Venture Exchange was 0.99 of a point higher to 902.09.
The Canadian dollar tanked 1.97 cents to 80.24 cents US - after going as low as 80.04 cents as disappointment with the Geithner announcement sparked a selloff of a string of currencies in favour of the U.S. dollar.
Investors were also focused on Bank of Canada governor Mark Carney, who reiterated to a parliamentary committee that he expects the economy to rebound in 2010, growing by 3.8 per cent.
Many economists regard this as overly optimistic, but Carney said "such a recovery is actually more muted than usual," after what will be a difficult 2009.
ETFs (Exchange Traded Funds) that short the market, that is, they go up when everything goes down (my favorite since last January) were the best gainers in Toronto.
Horizons BetaPro NYMEX Natural Gas Bear ETF (HND) soared 11.54% to $45.54. Horizons BetaPro MSCI Emerging Markets Bear ETF (HJD-T) jumped 11.01% to %15.32. Horizons BetaPro S&P 500 Bear Plus ETF (HSD-T) was up 10.07% to $33.88. Horizons BetaPro NYMEX Crude Oil Bear ETF (HOD-T). Horizons BetaPro NASDAQ-100 Bear Plus ETF (HQD-T) gained 8.28% to $34.40.
Roger Biduk
The S&P/TSX Capped Financial Index sank 3.97% as TD Bank (TSX:TD) was down $1.57 to $39.12 and Bank of Montreal (TSX:BMO) fell $1.42 to $30.36. Savanna Energy Services (SVY) sank 12.13% to $5.94. Dundee Corp. (DC.A) dropped 11.01% to $5.09. Noranda Income fund (NIF.UN) dropped 9.98% to $4.24.
The S&P/TSX Energy Index tanked 4.44% per cent as the March crude contract in New York lost $2.01 to US$37.55 a barrel. Petro-Canada (TSX:PCA) declined $1.55 to $28.26 and EnCana Corp. (TSX:ECA) gave back $2.55 to $55.31.
Tusk Energy Corp. (TSX:TSK) announced a deal to be taken over by a unit of Teachers Insurance and Annuity Association of America in a deal valued at $257 million. Its shares soared $1.22 or 142 per cent to $2.08.
Pacific Rubiales Energy (PRE) tanked 9.71% to $2.79. Trinidad Drilling (TDG) sank 9.49% to $2.67. Highpine Oil & Gas (HPX) dropped 7.77% to $4.63.
The S&P/TSX Global Gold Index was up .30% as the April bullion contract in New York rose $21.40 to US$914.20 an ounce.
Goldcorp Inc. (TSX:G) climbed 74 cents to $36.83. First Quantum Minerals (FM) sank 13.03% to $26.96. Centerra Gold (CG) dropped 11.31% to $4.47. Aquiline Res. (AQI) sank 10.91% to $2.45. European Goldfields (EGU) dropped 7.86% to $2.93.
The S&P/TSX Capped Divesified Metals & Mining Index tanked 8.70% as aluminum dropped 2.64%, copper dipped 2.29% and silver gained 2.34%8.7 per cent with Teck Cominco Ltd. (TSX:TCK.B) down 54 cents to $4.96 and Quadra Mining (QUA) tanked 13.25% to $3.47. Ivanhoe Mines (IVN) sank 11.19%.
Shares in Inmet Mining (TSX:IMN) were off 96 cents to $25.65 after a fourth-quarter loss of $32.5 million on asset writedowns and low metal prices.
A Japanese consortium is paying $270 million for a 19.95 per cent interest in Uranium One Inc. (TSX:UUU). The Toronto-headquartered miner is active in Kazakhstan, the United States and South Africa and its shares climbed eight cents to $2.09 .
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.43% and the S&P/TSX Capped Telecom Services Index was down .75%.
Data encryption specialist Certicom Corp. (TSX:CIC) says it has been told by VeriSign Inc. that the California company will not match a $3-a-share takeover offer from Research In Motion Ltd. (TSX:RIM). RIM's proposal topped a $2.10-per-share price previously agreed to between VeriSign and Certicom. Certicom shares declined 29 cents to $2.97 while RIM ticked 92 cents lower to $70.88.
The S&P/TSX Consumer Discretionary Index dropped 2.00% and the S&P/TSX Consumer Staples Index was down .98%.
The S&P/TSX Capped Health Care Index sank 3.87%.
The S&P/TSX Capped Utilities Index was lower by 1.18%.
The S&P/TSX Capped Industrial Index dropped 2.67%.
Molson Coors Brewing Co. (TSX:TAP) reported a steep drop in fourth-quarter earnings to US$96.8 million "due to unfavourable foreign currency and slowing industry trends." In New York, its shares were down $3.20 at US$37.30.
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Roger Biduk; Financials Lift Bay Street
Roger Biduk:
The Toronto stock market closed higher Monday, supported by financials a day before U.S. Treasury Secretary Timothy Geithner is to unveil an overhaul of the US$700-billion aid plan for the financial sector and by energy stocks even as oil prices slipped.
Toronto's S&P/TSX composite index was positive for a fifth session, adding 39.26 points to 9,047.28. The Dow Jones industrial eased 9.72 points to 8,270.87.
The TSX Venture Exchange inched 8.24 points lower to 901.1.
The Toronto market's advance followed a gain last week that saw the main index above 9,000 for the first time since early January, but analysts cautioned against exuberance.
The Canadian dollar was ahead 0.61 of a cent to 82.21 cents U.S. as Canada Mortgage and Housing Corp. reported a bigger than expected drop in housing starts last month. CMHC said the seasonally adjusted annual rate of housing starts declined 10.9 per cent in January to 153,500 units. It was the fifth straight monthly decline and left home construction at its slowest rate since 2001.
The S&P/TSX Capped Financial Index was up 1.15 per cent with Scotiabank (TSX:BNS) higher by 59 cents to $31.17 while TD Bank (TSX:TD) climbed 89 cents to $40.69.
Kingsway Financial Services Inc. (TSX:KFS) crumpled $1.36 or 21.75 per cent to $4.89 after the company said it is quitting some businesses, cutting 750 jobs and selling assets, while warning of a big fourth-quarter loss.
Allied Properties Real Estate (AP.UN) jumped 10.34%. H&R Real Estate Inv. (HR.UN) higher by 6.62% to $8.54. Birchcliff Energy Ltd. (BIR) rose 6.49% to $5.09. MI Developments Inc. (MIM.A) up by 5.60% to $9.05.
Roger Biduk:
The S&P/TSX Energy Index was ahead 2.49% as the March crude contract on the New York Mercantile Exchange fell 61 cents to US$39.56 a barrel despite an announcement from OPEC that dozens of production projects were being postponed. Natural gas was flat at $4.81.
EnCana Corp. (TSX:ECA) rose $1.55 to $57.86 and Suncor Inc. (TSX:SU) advanced 56 cents to $26.05.
Precision Drilling Trust (TSX:PD.UN) units fell 30 cents to $4.65 after Canada's largest oil and gas driller indefinitely suspended distributions as the recession undermines demand for its services.
Elsewhere in the oilpatch, the board of UTS Energy Corp. (TSX:UTS) urged shareholders to reject Total E&P Canada's "inadequate" $617-million offer to acquire the Calgary oilsands operator. UTS shares gained 10 cents to $1.80.
Crew Energy (CR) soared 13.24% to $4.02. Highpine Oil & Gas Ltd. (HPS) jumped 11.06% to $5.02. Pacific Rubiales Energy Corp. (PRE) rose 10.36% to $3.09. NuVista Energy Ltd. (NVA) gained 9.90% to $7.66. Petrobank Energy And Res. (PBG) up by 7.88% to $21.90.
The S&P/TSX Capped Divesified Metals & Mining Index as aluminum dropped 2.21%, copper dipped .95% and silver sank 2.51%
Teck Cominco Ltd. (TCK.B) was up 21 cents to $5.50 even as Moody's Investors Service on Friday lowered the miner's debt ratings.
Athabasca Potash (API) soared 22.56% to $2.39. Agnico-Eagle Mines (AEM) sank 5.29% to $3.60.
The S&P/TSX Global Gold Index sank 4.28% as the April bullion contract on the Nymex tanked $21.50 to US$892.80 an ounce.
Barrick Gold Corp. (TSX:ABX) faded $2.18 to $45.82 and Goldcorp Inc. (TSX:G) dropped $1.29 to $36.09. Centerra Gold (CG) tanked 11.58% to $5.04. Gabriel Res. (GBU) sank 8.93% to $2.55. Alamos Gold (AGI) lower by 6.07% to $7.35.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was up .42%.
The S&P/TSX Capped Health Care Index was higher by 1.06%.
The S&P/TSX Capped Utilities Index rose .74%.
The S&P/TSX Capped Industrial Index was up .49%.
The S&P/TSX Capped Information Technology Index was down .13% and the S&P/TSX Capped Telecom Services Index was up .12%.
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The Toronto stock market closed higher Monday, supported by financials a day before U.S. Treasury Secretary Timothy Geithner is to unveil an overhaul of the US$700-billion aid plan for the financial sector and by energy stocks even as oil prices slipped.
Toronto's S&P/TSX composite index was positive for a fifth session, adding 39.26 points to 9,047.28. The Dow Jones industrial eased 9.72 points to 8,270.87.
The TSX Venture Exchange inched 8.24 points lower to 901.1.
The Toronto market's advance followed a gain last week that saw the main index above 9,000 for the first time since early January, but analysts cautioned against exuberance.
The Canadian dollar was ahead 0.61 of a cent to 82.21 cents U.S. as Canada Mortgage and Housing Corp. reported a bigger than expected drop in housing starts last month. CMHC said the seasonally adjusted annual rate of housing starts declined 10.9 per cent in January to 153,500 units. It was the fifth straight monthly decline and left home construction at its slowest rate since 2001.
The S&P/TSX Capped Financial Index was up 1.15 per cent with Scotiabank (TSX:BNS) higher by 59 cents to $31.17 while TD Bank (TSX:TD) climbed 89 cents to $40.69.
Kingsway Financial Services Inc. (TSX:KFS) crumpled $1.36 or 21.75 per cent to $4.89 after the company said it is quitting some businesses, cutting 750 jobs and selling assets, while warning of a big fourth-quarter loss.
Allied Properties Real Estate (AP.UN) jumped 10.34%. H&R Real Estate Inv. (HR.UN) higher by 6.62% to $8.54. Birchcliff Energy Ltd. (BIR) rose 6.49% to $5.09. MI Developments Inc. (MIM.A) up by 5.60% to $9.05.
Roger Biduk:
The S&P/TSX Energy Index was ahead 2.49% as the March crude contract on the New York Mercantile Exchange fell 61 cents to US$39.56 a barrel despite an announcement from OPEC that dozens of production projects were being postponed. Natural gas was flat at $4.81.
EnCana Corp. (TSX:ECA) rose $1.55 to $57.86 and Suncor Inc. (TSX:SU) advanced 56 cents to $26.05.
Precision Drilling Trust (TSX:PD.UN) units fell 30 cents to $4.65 after Canada's largest oil and gas driller indefinitely suspended distributions as the recession undermines demand for its services.
Elsewhere in the oilpatch, the board of UTS Energy Corp. (TSX:UTS) urged shareholders to reject Total E&P Canada's "inadequate" $617-million offer to acquire the Calgary oilsands operator. UTS shares gained 10 cents to $1.80.
Crew Energy (CR) soared 13.24% to $4.02. Highpine Oil & Gas Ltd. (HPS) jumped 11.06% to $5.02. Pacific Rubiales Energy Corp. (PRE) rose 10.36% to $3.09. NuVista Energy Ltd. (NVA) gained 9.90% to $7.66. Petrobank Energy And Res. (PBG) up by 7.88% to $21.90.
The S&P/TSX Capped Divesified Metals & Mining Index as aluminum dropped 2.21%, copper dipped .95% and silver sank 2.51%
Teck Cominco Ltd. (TCK.B) was up 21 cents to $5.50 even as Moody's Investors Service on Friday lowered the miner's debt ratings.
Athabasca Potash (API) soared 22.56% to $2.39. Agnico-Eagle Mines (AEM) sank 5.29% to $3.60.
The S&P/TSX Global Gold Index sank 4.28% as the April bullion contract on the Nymex tanked $21.50 to US$892.80 an ounce.
Barrick Gold Corp. (TSX:ABX) faded $2.18 to $45.82 and Goldcorp Inc. (TSX:G) dropped $1.29 to $36.09. Centerra Gold (CG) tanked 11.58% to $5.04. Gabriel Res. (GBU) sank 8.93% to $2.55. Alamos Gold (AGI) lower by 6.07% to $7.35.
The S&P/TSX Consumer Discretionary Index was up .94% and the S&P/TSX Consumer Staples Index was up .42%.
The S&P/TSX Capped Health Care Index was higher by 1.06%.
The S&P/TSX Capped Utilities Index rose .74%.
The S&P/TSX Capped Industrial Index was up .49%.
The S&P/TSX Capped Information Technology Index was down .13% and the S&P/TSX Capped Telecom Services Index was up .12%.
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Sunday, February 8, 2009
Roger Biduk; Job Losses Soar & Bay Street Rises
Roger Biduk:
That doesn’t make sense, does it?
North American stock markets surged Friday to a sharply higher close as investors looked past dismal employment news from Canada and the U.S. and ahead to the U.S. economic stimulus program and an announcement of aid for the financial sector.
Toronto's S&P/TSX composite index closed up 147.04 points to 9,008.02 - its first close above 9,000 since Jan. 9 and left the main index in positive territory for the year to date. The TSX gained 3.6 per cent on the week.
The TSX Venture Exchange added 11.12 points to 909.34.
The CDN$ closed up 0.37 of a cent to 81.6 cents U.S.
Statistics Canada said Canada lost a record 129,000 jobs last month, far more than the consensus expectation of 40,000, and the unemployment rate surged more than half a point to 7.2 per cent, the highest level since November 2004.
The drop in jobs was bigger than in any single month during the recessions of the early 1980s and 1990s.
The S&P/TSX Capped Divesified Metals & Mining Index racked up solid gains for a second day, jumping 5.93% as aluminum gained 2.26%, copper soared 8.57% and silver rose 3.22%
Quandra Mining (GSL) soared 13.51% to $3.95. Inmet Mining (IMN) jumped 11.11% to $26.11. PDX Resources (PLG) higher by 9.01% to $2.42. Hanfeng Evergreen (HF) rose 8.68% to $7.39. Gerdau AmeriSteel (GNA) up 7.05 to $8.50.
Roger Biduk:
The S&P/TSX Capped Financial index gained 1.83% ahead of an announcement from American Treasury Secretary Timothy Geithner on how the government will deploy the second half of a US$700-billion bank bailout as well as other help for financial players.
CIBC (TSX:CM) advanced $1.56 to $48.45 and National Bank (TSX:NA) improved $1.31 to $36.44.
TD Bank Financial Group (TSX:TD) confirmed it is raising its ownership of U.S. brokerage TD Ameritrade to 45 per cent from 39.9 per cent, at a cost of $515 million. TD shares were up 63 cents to $39.80.
Faircourt Split Trust (FCS.UN) soared 19.32% to $2.10. Brompton Lifeco Split Corp. (LCS) jumped $2.15. MI Developments (MIM.A) rose 14.29%. Plutonic Power Corp. (PCC) gained 12.27% to $2.47. GMP Capital Trust (GMP.UN) up 11.70% to $7.35. 5Banc Split Inc. (FBS.B) higher by 10.71%. Energy Savings Income Fund (SIF.UN) rose 9.37% to 10.62%. Dundee Corp. (DC.A) up by 8.85% to $5.48. Sentry Select Primary Metals C (PME) higher by 8.81% to $4.20. Canadian Western bank (CWB) up 6.82% to $11.75.
Seamark Asset Management Ltd. (SM) sank 6.36% to $2.06.
The S&P/TSX Energy Index was up 1.61% even as the huge job losses in the U.S. sent the March crude contract on the New York Mercantile Exchange down 2.43% to US$40.17 a barrel. Natural gas jumped 2.84% to $4.77.
Suncor Inc. (TSX:SU) was 83 cents higher to $25.49 and EnCana Corp. (TSX:ECA) gained 61 cents to $56.31.
The Ontario Teachers' Pension Plan has confirmed talks with Petro-Canada (TSX:PCA) about creating more value for shareholders. Petro-Canada shares were 21 cents better to $29.54.
North America Energy Partners (NOA) soared 15.36% to $3.53. Trinidad Drilling (TDG) jumped 14.50% to $3.00. Flint Energy Services Ltd. (FES) higher by 12.02% to $4.66. Niko Resources (NKO) up by 7.28% to $56.58. Gran Tierra Energy Inc. (GTE) rose 7.07% to $4.24.
The S&P/TSX Global Gold Index gained 1.98% as the April bullion contract on the Nymex gained $.10 to US$914.30 an ounce.
Greystar Resources ltd. (GSL) soared 14.29% to $2.80. Detour Gold Corp. (DGC) jumped 11.74% to $9.90. First Quantum Minerals ltd. (FM) rose 8.10% to $30.70.
Gabriel Resources Ltd. (GBU) sank 5.08% to $2.80 and Banro Corp.(BAA) dropped 6.73% to $2.08.
The TSX was supported by two of its largest companies. Research In Motion Ltd. (TSX:RIM) added $2.16 to $72.10 while Potash Corp. (TSX:POT) rose $4.70 to $110.80.
Roger Biduk:
Shares in Canwest Global Communications Corp. (TSX:CGS) were up seven cents to 49 cents on news it is seeking to sell five TV stations. Analysts say it's unlikely the company will find a buyer in the current recession, and a money-saving closure is more likely.
The S&P/TSX Capped Information Technology Index was up 2.75% and the S&P/TSX Capped Telecom Services Index was up .27%.
CryptoLogic Ltd. (CRY) soared 11.61% to $7.40. Aastra Technologies Ltd. (AAH) jumped $9.25% to $12.05. AXIA NetMedia Corp. (AXX) rose 6.53% to $2.12. Gennum Corp. (GND) sank 5.12% to $4.08
The S&P/TSX Consumer Discretionary Index was up 1.15% and the S&P/TSX Consumer Staples Index was down 1.37%.
Viterra Inc. (VT) rose 5.20% to $10.52.
The S&P/TSX Capped Health Care Index was lower by .79%.
The S&P/TSX Capped Utilities Index rose 1.42%.
The S&P/TSX Capped Industrial Index was up 2.27%.
Sino-Forest Corp. (TRE) jumped 13.44% to $11.14. ADF Group Inc. (DRX) jumped 9.04% to $2.05.
JDS Uniphase Canada Ltd. (JDU) sank 6.05% to $4.66. Heroux-Devtek (HRX) down by 6.25% to $4.50.
H
In the service sector, MacDonald, Dettwiler and Assoc. (MDA) soared 11.29% to $25.93. Transat A.T. (TRZ.B) jumped 8.03% to $10.49. Reitmans Canada (RET) rose 5.39% to $9.19. Stantec (STN) gained 5.32% to $29.10. Intermap Technologies (IMP) up 5.00% to $2.10.
Softchoice Corp. (SO) down 7.78% to $2.49. Brick Group Income Fund (BRK.UN) tanked 10.28% to $2.53.
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That doesn’t make sense, does it?
North American stock markets surged Friday to a sharply higher close as investors looked past dismal employment news from Canada and the U.S. and ahead to the U.S. economic stimulus program and an announcement of aid for the financial sector.
Toronto's S&P/TSX composite index closed up 147.04 points to 9,008.02 - its first close above 9,000 since Jan. 9 and left the main index in positive territory for the year to date. The TSX gained 3.6 per cent on the week.
The TSX Venture Exchange added 11.12 points to 909.34.
The CDN$ closed up 0.37 of a cent to 81.6 cents U.S.
Statistics Canada said Canada lost a record 129,000 jobs last month, far more than the consensus expectation of 40,000, and the unemployment rate surged more than half a point to 7.2 per cent, the highest level since November 2004.
The drop in jobs was bigger than in any single month during the recessions of the early 1980s and 1990s.
The S&P/TSX Capped Divesified Metals & Mining Index racked up solid gains for a second day, jumping 5.93% as aluminum gained 2.26%, copper soared 8.57% and silver rose 3.22%
Quandra Mining (GSL) soared 13.51% to $3.95. Inmet Mining (IMN) jumped 11.11% to $26.11. PDX Resources (PLG) higher by 9.01% to $2.42. Hanfeng Evergreen (HF) rose 8.68% to $7.39. Gerdau AmeriSteel (GNA) up 7.05 to $8.50.
Roger Biduk:
The S&P/TSX Capped Financial index gained 1.83% ahead of an announcement from American Treasury Secretary Timothy Geithner on how the government will deploy the second half of a US$700-billion bank bailout as well as other help for financial players.
CIBC (TSX:CM) advanced $1.56 to $48.45 and National Bank (TSX:NA) improved $1.31 to $36.44.
TD Bank Financial Group (TSX:TD) confirmed it is raising its ownership of U.S. brokerage TD Ameritrade to 45 per cent from 39.9 per cent, at a cost of $515 million. TD shares were up 63 cents to $39.80.
Faircourt Split Trust (FCS.UN) soared 19.32% to $2.10. Brompton Lifeco Split Corp. (LCS) jumped $2.15. MI Developments (MIM.A) rose 14.29%. Plutonic Power Corp. (PCC) gained 12.27% to $2.47. GMP Capital Trust (GMP.UN) up 11.70% to $7.35. 5Banc Split Inc. (FBS.B) higher by 10.71%. Energy Savings Income Fund (SIF.UN) rose 9.37% to 10.62%. Dundee Corp. (DC.A) up by 8.85% to $5.48. Sentry Select Primary Metals C (PME) higher by 8.81% to $4.20. Canadian Western bank (CWB) up 6.82% to $11.75.
Seamark Asset Management Ltd. (SM) sank 6.36% to $2.06.
The S&P/TSX Energy Index was up 1.61% even as the huge job losses in the U.S. sent the March crude contract on the New York Mercantile Exchange down 2.43% to US$40.17 a barrel. Natural gas jumped 2.84% to $4.77.
Suncor Inc. (TSX:SU) was 83 cents higher to $25.49 and EnCana Corp. (TSX:ECA) gained 61 cents to $56.31.
The Ontario Teachers' Pension Plan has confirmed talks with Petro-Canada (TSX:PCA) about creating more value for shareholders. Petro-Canada shares were 21 cents better to $29.54.
North America Energy Partners (NOA) soared 15.36% to $3.53. Trinidad Drilling (TDG) jumped 14.50% to $3.00. Flint Energy Services Ltd. (FES) higher by 12.02% to $4.66. Niko Resources (NKO) up by 7.28% to $56.58. Gran Tierra Energy Inc. (GTE) rose 7.07% to $4.24.
The S&P/TSX Global Gold Index gained 1.98% as the April bullion contract on the Nymex gained $.10 to US$914.30 an ounce.
Greystar Resources ltd. (GSL) soared 14.29% to $2.80. Detour Gold Corp. (DGC) jumped 11.74% to $9.90. First Quantum Minerals ltd. (FM) rose 8.10% to $30.70.
Gabriel Resources Ltd. (GBU) sank 5.08% to $2.80 and Banro Corp.(BAA) dropped 6.73% to $2.08.
The TSX was supported by two of its largest companies. Research In Motion Ltd. (TSX:RIM) added $2.16 to $72.10 while Potash Corp. (TSX:POT) rose $4.70 to $110.80.
Roger Biduk:
Shares in Canwest Global Communications Corp. (TSX:CGS) were up seven cents to 49 cents on news it is seeking to sell five TV stations. Analysts say it's unlikely the company will find a buyer in the current recession, and a money-saving closure is more likely.
The S&P/TSX Capped Information Technology Index was up 2.75% and the S&P/TSX Capped Telecom Services Index was up .27%.
CryptoLogic Ltd. (CRY) soared 11.61% to $7.40. Aastra Technologies Ltd. (AAH) jumped $9.25% to $12.05. AXIA NetMedia Corp. (AXX) rose 6.53% to $2.12. Gennum Corp. (GND) sank 5.12% to $4.08
The S&P/TSX Consumer Discretionary Index was up 1.15% and the S&P/TSX Consumer Staples Index was down 1.37%.
Viterra Inc. (VT) rose 5.20% to $10.52.
The S&P/TSX Capped Health Care Index was lower by .79%.
The S&P/TSX Capped Utilities Index rose 1.42%.
The S&P/TSX Capped Industrial Index was up 2.27%.
Sino-Forest Corp. (TRE) jumped 13.44% to $11.14. ADF Group Inc. (DRX) jumped 9.04% to $2.05.
JDS Uniphase Canada Ltd. (JDU) sank 6.05% to $4.66. Heroux-Devtek (HRX) down by 6.25% to $4.50.
H
In the service sector, MacDonald, Dettwiler and Assoc. (MDA) soared 11.29% to $25.93. Transat A.T. (TRZ.B) jumped 8.03% to $10.49. Reitmans Canada (RET) rose 5.39% to $9.19. Stantec (STN) gained 5.32% to $29.10. Intermap Technologies (IMP) up 5.00% to $2.10.
Softchoice Corp. (SO) down 7.78% to $2.49. Brick Group Income Fund (BRK.UN) tanked 10.28% to $2.53.
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Wednesday, February 4, 2009
Roger Biduk; Bay Street Flat
Roger Biduk;
The Toronto stock market erased early losses to eke out a slightly higher close Tuesday thanks largely to a late-day revival in the financial and base metals sectors.
Toronto's S&P/TSX composite index inched up 3.8 points to 8,628.63. The Venture index was down 3.57 points to 859.25.
The CDN$ rose 0.88 of a cent to 81.29 cents US.
The S&P/TSX Capped Financial index gained .68% as Kingsway Financial Services (KFS) soared 10.12%. Resverlogix Corp. (RVX) jumped 8.88% to $2.82. Dundee Corp. (DC.A) ran up 8.07% to $5.49. Chartwell Seniors Housing (CSH.UN) gained 6.43% to $5.79. Dundee Real Estate Investment (D.UN) up 6.32% to $13.45.
Royal Host Real Estate Investment Trust (RYL.UN) dropped 5.07% to $3.18. Parkbridge Lifestyle Communities Inc. (PRK) dropped 7.28% to $2.80. Chemtrade Logistics Income fund (CHE.UN) tanked 8.70% to $8.81.
The S&P/TSX Energy Index was off .33% as the March crude contract on the New York Mercantile Exchange added 1.75% to US$40.78 a barrel. Natural gas sank .97% to $4.50.
Major Drilling Group (MDI) soared 13.87% to $14.53. Gran Tierra Energy (GTE) jumped 9.71% to $3.84. Pacific Rubiales Energy Corp. (PRE) was up 9.35% to $2.69. Petro Andina Resources Inc. (PAR) was up 9.08% to $6.49. Petrominerales Ltd. (PMG) higher by 5.55% to $7.80.
Total Energy Services Trust (TOT.UN) sank 6.94% to $3.35.
The S&P/TSX Global Gold Index lost .48% as the February bullion contract on the Nymex tanked $14.70 to US$892.50 an ounce.
Novagold Resources Inc. (NG) soared 7.75% to $4.31. First Quantum Minerals Ltd. (FM) jumped 7.55% to $23.80. Kirkland Lake Gold (KGI) gained 7.21% to $5.50.
Detour Gold Corp. (DGC) dropped 5.00% to $8.17. Markland AGF Precious Metals (MPM) sank 5.80% to $5.20. Virginia Mines (VGQ) dropped 5.83% to $4.04.
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.40% and the S&P/TSX Capped Telecom Index was up .68%.
EXFO Electro-Optical Engineering (EXF) jumped 13.44% to $4.81. AXIA NetMedia Corp. (AXX) up 6.95% to $2.00. Mosaid Technologies Inc. (MSD) higher by 6.91% to $10.21.
The S&P/TSX Consumer Discretionary Index was up .36% and the S&P/TSX Consumer Staples Index was down .16%.
Winpak (WPK) tanked 6.01% to $6.57.
The S&P/TSX Capped Health Care Index was lower by .29%.
The S&P/TSX Capped Utilities Index dropped 1.20%.
The S&P/TSX Capped Industrial Index was up .96%.
ATS Automation Tooling Systems (ATA) gained 5.62% to $4.51. Sino-Forest Corp. (TRE) was up 5.06% to $9.13.
Martinrea International inc. (MRE) dropped 5.24% to $2.35. Canam Group Inc. (CAM) sank 7.39% to $6.39.
The S&P/TSX Capped Divesified Metals & Mining Index jumped 2.31% as aluminum gained 1.56%, copper soared 6.36% and silver dropped .93%.
Gerdau AmerSteel Corp. (GNA) rose 8.51% to $7.65.
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The Toronto stock market erased early losses to eke out a slightly higher close Tuesday thanks largely to a late-day revival in the financial and base metals sectors.
Toronto's S&P/TSX composite index inched up 3.8 points to 8,628.63. The Venture index was down 3.57 points to 859.25.
The CDN$ rose 0.88 of a cent to 81.29 cents US.
The S&P/TSX Capped Financial index gained .68% as Kingsway Financial Services (KFS) soared 10.12%. Resverlogix Corp. (RVX) jumped 8.88% to $2.82. Dundee Corp. (DC.A) ran up 8.07% to $5.49. Chartwell Seniors Housing (CSH.UN) gained 6.43% to $5.79. Dundee Real Estate Investment (D.UN) up 6.32% to $13.45.
Royal Host Real Estate Investment Trust (RYL.UN) dropped 5.07% to $3.18. Parkbridge Lifestyle Communities Inc. (PRK) dropped 7.28% to $2.80. Chemtrade Logistics Income fund (CHE.UN) tanked 8.70% to $8.81.
The S&P/TSX Energy Index was off .33% as the March crude contract on the New York Mercantile Exchange added 1.75% to US$40.78 a barrel. Natural gas sank .97% to $4.50.
Major Drilling Group (MDI) soared 13.87% to $14.53. Gran Tierra Energy (GTE) jumped 9.71% to $3.84. Pacific Rubiales Energy Corp. (PRE) was up 9.35% to $2.69. Petro Andina Resources Inc. (PAR) was up 9.08% to $6.49. Petrominerales Ltd. (PMG) higher by 5.55% to $7.80.
Total Energy Services Trust (TOT.UN) sank 6.94% to $3.35.
The S&P/TSX Global Gold Index lost .48% as the February bullion contract on the Nymex tanked $14.70 to US$892.50 an ounce.
Novagold Resources Inc. (NG) soared 7.75% to $4.31. First Quantum Minerals Ltd. (FM) jumped 7.55% to $23.80. Kirkland Lake Gold (KGI) gained 7.21% to $5.50.
Detour Gold Corp. (DGC) dropped 5.00% to $8.17. Markland AGF Precious Metals (MPM) sank 5.80% to $5.20. Virginia Mines (VGQ) dropped 5.83% to $4.04.
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.40% and the S&P/TSX Capped Telecom Index was up .68%.
EXFO Electro-Optical Engineering (EXF) jumped 13.44% to $4.81. AXIA NetMedia Corp. (AXX) up 6.95% to $2.00. Mosaid Technologies Inc. (MSD) higher by 6.91% to $10.21.
The S&P/TSX Consumer Discretionary Index was up .36% and the S&P/TSX Consumer Staples Index was down .16%.
Winpak (WPK) tanked 6.01% to $6.57.
The S&P/TSX Capped Health Care Index was lower by .29%.
The S&P/TSX Capped Utilities Index dropped 1.20%.
The S&P/TSX Capped Industrial Index was up .96%.
ATS Automation Tooling Systems (ATA) gained 5.62% to $4.51. Sino-Forest Corp. (TRE) was up 5.06% to $9.13.
Martinrea International inc. (MRE) dropped 5.24% to $2.35. Canam Group Inc. (CAM) sank 7.39% to $6.39.
The S&P/TSX Capped Divesified Metals & Mining Index jumped 2.31% as aluminum gained 1.56%, copper soared 6.36% and silver dropped .93%.
Gerdau AmerSteel Corp. (GNA) rose 8.51% to $7.65.
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