Roger Biduk;
Did you read my email that I sent on Monday morning regarding what ETFs to buy on an upcoming bear market rally I saw coming?
Hopefully you did and bought (as my clients did) the ones I included.
Horizon BetaPro S&P/TSX Financials Bull Plus (HFU) soared 25.00% to $3.60, (HQU) was up 12.18% and (HXU) rose 9.07%.
The ETFs in the U.S. markets that I talked about (see below) did even better as they are leveraged 3-1 compared to the Canadian ones at 2-1.
Stock markets surged on a huge runup in bank and insurance shares Tuesday after American financial-services giant Citigroup Inc. said it was profitable in the first two months of this year.
Toronto's S&P/TSX composite index jumped 313.47 points or 4.1 per cent to 7,880.41, powered by a 12 per cent charge in the financial sector. It was the biggest gain this year for the benchmark Canadian index.
The TSX Venture Exchange edged 4.36 points higher to 818.55.
The Canadian dollar rose 0.83 cent to 77.81 cents US after losing almost half a cent Monday to its lowest close since September 2004.
Of the ten sectors I follow on the Toronto market, all were higher except for the gold sector.
The S&P/TSX Global Gold Index tanked 7.37% as the April bullion contract in New York sank $22.10 to US$895.90 an ounce.
Minefinders Corporation Ltd. (MFL.WT) -19.35% to $2.50. Kinross Gold Corporation (K.WT.B) -12.67% to $2.62. US Gold Corporation (UXG) -12.10% to $2.18. Kinross Gold Corporation (K.WT.C) -10.91% to $4.41. Aquiline Resources Inc. (AQI) -10.10% to $2.58.
Roger Biduk;
The market also got support from energy stocks even as the price of crude oil moved lower.
The April crude contract on the New York Mercantile Exchange dropped 2.89% to $45.71 and natural gas lost .65% to $3.84 as the S&P/TSX Energy Index gained 2.93%.
Breaker Energy Ltd. (WAV) +9.30% to $2.350. Flint Energy Services Ltd. (FES) +7.11% to $5.12. Gran Tierra Energy Inc. (GTE) +6.17% to $3.27. Destiny Resource Services Corp (DSC) +6.00% to $2.12. Canadian Natural Resources Lim (CNQ) +5.99% to $46.00.
Avenir Diversified Income Trus (AVF.UN) -19.49% to $3.14. Paramount Resources Ltd. (POU)
-6.73% to $5.27. Badger Income Fund (BAD.UN) -5.95% to $10.90. Cathedral Energy Services Inco (CET.UN) -5.31% to $2.14.
Oil earlier had surged as high as US$48.32 as OPEC signalled another production cut is likely within days, but then pulled back after the U.S. Energy Department predicted oil will average US$42 a barrel this year and US$53 next year. A month ago, it had predicted prices of US$43 and US$55.
The S&P/TSX Capped Diversified Metals & Mining Index jumped 5.92% as aluminum gained 1.68%, copper gained 2.74% and silver fell 3.09% to $12.54.
Inmet Mining Corporation (IMN) +14.48% to $31.07. Quadra Mining Ltd. (QUA) +10.67% to $4.15. Teck Cominco Limited (TCK.B) +9.95% to $4.09. Breaker Energy Ltd. (WAV) +9.30% to $2.35. Athabasca Potash Inc. (API) +8.70% to $2.00. Flint Energy Services Ltd. (FES) +7.11% to $5.12. Potash Corporation of Saskatch (POT) +6.92% to $96.26.
Red Back Mining Inc. (RBI) -8.75% to $6.57. Fronteer Development Group Inc (FRG) -8.21% to $2.57. Pan American Silver Corp. (PAA) -6.88% to $16.51.
HudBay Minerals Inc. (TSX: HBM.TO) rose 19 cents to $5.90 after the resignation of Allen Palmiere as CEO, effective immediately. His departure comes as a major shareholder seeks to shake up the mining company's board after the collapse of HudBay's proposed merger with Lundin Mining Corp. (TSX: LUN.TO).
Roger Biduk;
The S&P/TSX Capped Financial Index soared 12.04%.
Life & Banc Split Corp. (LBS) +35.71% to $2.85. Allbanc Split Corp. II (ALB) +34.91% to $3.71. Canadian Life Companies Split (LFE) +33.97% to $2.09. Financial 15 Split Corp. (FTN) +31.45% to $3.26. R Split III Corp. (RBS) +24.29% to $4.35.
iShares CDN S&P/TSX Global Gol (XGD) -7.09% to $17.42. Birchcliff Energy Ltd. (BIR)
-7.02% to $4.90. Franco-Nevada Corporation (FNV) -5.79% to $24.73.
The S&P/TSX Capped Industrial Index jumped 6.60%.
TimberWest Forest Corp. (TWF.UN) +14.04% to $2.68. SNC - Lavalin Group Inc. (SNC) +11.63% to $31.59. Bombardier Inc. (BBD.B) +10.68% to $2.59. Seacliff Construction Corp. (SDC) +8.00% to $6.75. ATS Automation Tooling Systems (ATA) +7.97% to $3.25.
The S&P/TSX Capped Utilities Index rose .31%.
The S&P/TSX Consumer Discretionary Index was 4.17% higher and the S&P/TSX Consumer Staples Index gained .44%.
Gildan Activewear Inc. (GIL) +7.43% to $8.10. Richards Packaging Income Fund (RPI.UN) +7.39% to $2.76. Hammond Power Solutions Inc. (HPS.A) +6.75% to $7.75. Cascades Inc. (CAS) +6.15% to $2.07.
The S&P/TSX Capped Health Care Index was higher by 3.80%.
Biovail Corporation (BVF) +6.37% to $14.20. BioMS Medical Corp. (MS) +5.29% to $2.39.
Roger Biduk;
In the service sector:
Great Canadian Gaming Corporat (GC) +12.29% to $2.65. Stantec Inc. (STN) +11.83% to $21.17. Transcontinental Inc. (TCL.A) +11.11% to $6.20. Wajax Income Fund (WJX.UN) +10.00% to $12.10. Cargojet Income Fund (CJT.UN) +8.89% to $2.45.
Second Cup Royalty Income Fund (SCU.UN) -7.96% to $4.51. Trimac Income Fund (TMA.UN)
-9.05% to $2.01.
The S&P/TSX Capped Information Technology Index gained 3.39% and the S&P/TSX Capped Telecom Services Index was 3.72% higher. 5N Plus Inc. (VNP) +13.36% to $5.09. Tundra Semiconductor Corporati (TUN) +9.62% to $2.85. Research in Motion Limited (RIM) +9.47% to $50.30. Celestica Inc. (CLS) +7.04% to $3.65.
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Tuesday, March 10, 2009
Saturday, March 7, 2009
Roger Biduk; Bay Street Slumps to 2003 Levels
Roger Biduk;
The Toronto stock market capped a losing week that saw its key index hit multi-year lows with a negative close Friday following enormous job losses in the U.S. last month.
Toronto's S&P/TSX composite index closed down 37.7 points to 7,591.47.
The TSX Venture Exchange was off 0.57 of a point to 829.12, while the CDN$ closed up 0.11 of a US cent to 77.73 cents U.S.
The S&P/TSX Capped Diversified Metals & Mining Index rose 2.38% as aluminum lost .83%, copper gained 2.15% and silver rose 1.62% to $13.33.
Teck Cominco Limited (TCK.B) +14.04% to $3.90. Aurora Energy Resources Inc. (AXU) +7.42% to $2.46.
Quadra Mining Ltd. (TSX:QUA) shares rose 10 cents to $3.69 after it reported a fourth-quarter net loss of US$126.1 million compared to a year-earlier profit of $5.5 million.
Ivanhoe Mines Ltd. (IVN) -6.39% to $5.27. Migao Corporation (MGO) -6.24% to $5.26. Pembina Pipeline Income Fund (PIF.UN) -5.35% to $12.38. Phoenix Technology Income Fund (PHX.UN) -5.35% to $5.13. Potash Corporation of Saskatch (POT) -5.10% to $84.97.
Canada's jobless rate is 7.2 per cent but could shoot higher next Friday when Statistics Canada reports the February employment numbers.
The TSX finished the week down 531.55 points or 6.5 per cent to its worst level since the fall of 2003.
Roger Biduk;
The Toronto financial sector had a particularly miserable week, down almost 10 per cent.
The S&P/TSX Capped Financial Index dropped .47%.
Home Equity Income Trust (HEQ.UN) +5.00% to $3.57. Resverlogix Corp. (RVX) +5.13% to $3.28. Crown Hill Fund (MYT.UN) +10.23% to $2.91. Homburg Invest Inc. (HII.A) +12.00% to $4.48.
Energy Split Corp. Inc. (ES) -32.00% to $2.38. US Financial 15 Split Corp. (FTU.PR.A) -13.33% to $2.34. Royal Host Real Estate Investm (RYL.UN) -12.79% to $2.25. Canadian Western Bank (CWB) -11.58% to $8.25. Chartwell Seniors Housing Rl E (CSH.UN) -10.61% to $3.96. Claymore Japan Fundamental Ind (CJP) -8.44% to $7.050.
CIBC (TSX:CM) shed 36 cents to $37.50 while Bank of Montreal (TSX:BMO) advanced 32 cents to $27.48.
The Bank of Nova Scotia (TSX:BNS) has taken a majority interest in Five Continents Financial Ltd., an asset management firm in the Cayman Islands. The terms of the transaction were not disclosed. Scotiabank shares were down 17 cents to $26.04.
The April crude contract on the New York Mercantile Exchange rose 4.38% to $43.61 and natural gas lost 3.50% to $3.95 as the S&P/TSX Energy Index gained 1.26%.
Eveready Inc. (EIS) +9.45% to $2.20. Paramount Resources Ltd. (POU) +6.82% to $5.64. Petrominerales Ltd. (PMG) +5.62% to $9.58. Suncor Inc. (TSX:SU) rose $1.15 to $27.35 and Canadian Natural Resources (TSX:CNQ) gained $1.29 to $41.80.
Pacific Rubiales Energy Corp. (PRE) -15.68% to $3.55. Cathedral Energy Services Inco (CET.UN) -14.58% to $2.05. Calfrac Well Services Ltd. (CFW) -8.67% to $7.16. Major Drilling Group Internati (MDI) -7.50% to $11.10. Paramount Energy Trust (PMT.UN) -6.80% to $2.88.
Roger Biduk;
Canadian autoparts maker Linamar Corp. (TSX:LNR) has cut its quarterly dividend in half. The Ontario-based company reported a fourth-quarter loss Thursday and said it would pay a quarterly dividend of three cents per share, down from six cents in the previous quarter. Linamar shares fell 33 cents to $2.67.
The S&P/TSX Capped Industrial Index lost .65%.
Newalta Inc. (NAL) -18.77% to $3.03. JDS Uniphase Canada Ltd. (JDU) -5.54% to $2.90.
The S&P/TSX Capped Utilities Index lost .066%.
EPCOR Power L.P. (EP.UN) -6.45% to $14.64.
The S&P/TSX Consumer Discretionary Index was .59% lower and the S&P/TSX Consumer Staples Index gained .71%.
Supremex Income Fund (SXP.UN) -11.39% to $2.10. Linamar Corporation (LNR) -11.00% to $2.67.
SNC Lavalin Group Inc. (TSX:SNC) reported fourth quarter net income of $75 million, compared with a net income of $68.7 million for the same period in 2007. For all of 2008, the engineering giant reports $312.5 million in net income, compared with $153.2 million in 2007. SNC also announced a 25 per cent increase to quarterly dividends. Its shares climbed 74 cents to $29.39.
Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 3.94%.
BioMS Medical Corp. (MS) +5.02% to $2.30.
In the service sector:
Jean Coutu Group Inc. (PJC.A) +13.18% to $8.16. TransForce Inc. (TFI) +7.01% to $3.36.
Altus Group Income Fund (AIF.UN) -16.97% to $5.48. Jazz Air Income Fund (JAZ.UN) -9.92% to $3.45. Data Group Income Fund (The) (DGI.UN) -8.51% to $3.01. Transcontinental Inc. (TCL.A) -7.22% to $6.04. Empire Company Ltd. (EMP.A) -5.87% to $49.10.
Industrial waste management services provider Newalta Inc. (TSX:NAL) said Friday it was cutting its dividend by 14 cents to five cents after reporting a drop in profits for both the most recent quarter and fiscal year. The company cited volatile markets and weak commodity prices and its shares dropped 70 cents to $3.
The S&P/TSX Capped Information Technology Index lost 2.28% and the S&P/TSX Capped Telecom Services Index was 1.08% lower.
TSX included Research In Motion Ltd. (TSX:RIM)down $2.22 to $46.60.
The S&P/TSX Global Gold Index dropped .72% as the April bullion contract in New York jumped 14.90 to US$942.70 an ounce.
Aquiline Resources Inc. (AQI) +8.47% to $3.20. Kirkland Lake Gold Inc. (KGI) +7.78% to $5.40. International Minerals Corp. (IMZ) -6.96% to $3.21. Goldcorp Inc. (TSX:G) faded 63 cents to $37.82.
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The Toronto stock market capped a losing week that saw its key index hit multi-year lows with a negative close Friday following enormous job losses in the U.S. last month.
Toronto's S&P/TSX composite index closed down 37.7 points to 7,591.47.
The TSX Venture Exchange was off 0.57 of a point to 829.12, while the CDN$ closed up 0.11 of a US cent to 77.73 cents U.S.
The S&P/TSX Capped Diversified Metals & Mining Index rose 2.38% as aluminum lost .83%, copper gained 2.15% and silver rose 1.62% to $13.33.
Teck Cominco Limited (TCK.B) +14.04% to $3.90. Aurora Energy Resources Inc. (AXU) +7.42% to $2.46.
Quadra Mining Ltd. (TSX:QUA) shares rose 10 cents to $3.69 after it reported a fourth-quarter net loss of US$126.1 million compared to a year-earlier profit of $5.5 million.
Ivanhoe Mines Ltd. (IVN) -6.39% to $5.27. Migao Corporation (MGO) -6.24% to $5.26. Pembina Pipeline Income Fund (PIF.UN) -5.35% to $12.38. Phoenix Technology Income Fund (PHX.UN) -5.35% to $5.13. Potash Corporation of Saskatch (POT) -5.10% to $84.97.
Canada's jobless rate is 7.2 per cent but could shoot higher next Friday when Statistics Canada reports the February employment numbers.
The TSX finished the week down 531.55 points or 6.5 per cent to its worst level since the fall of 2003.
Roger Biduk;
The Toronto financial sector had a particularly miserable week, down almost 10 per cent.
The S&P/TSX Capped Financial Index dropped .47%.
Home Equity Income Trust (HEQ.UN) +5.00% to $3.57. Resverlogix Corp. (RVX) +5.13% to $3.28. Crown Hill Fund (MYT.UN) +10.23% to $2.91. Homburg Invest Inc. (HII.A) +12.00% to $4.48.
Energy Split Corp. Inc. (ES) -32.00% to $2.38. US Financial 15 Split Corp. (FTU.PR.A) -13.33% to $2.34. Royal Host Real Estate Investm (RYL.UN) -12.79% to $2.25. Canadian Western Bank (CWB) -11.58% to $8.25. Chartwell Seniors Housing Rl E (CSH.UN) -10.61% to $3.96. Claymore Japan Fundamental Ind (CJP) -8.44% to $7.050.
CIBC (TSX:CM) shed 36 cents to $37.50 while Bank of Montreal (TSX:BMO) advanced 32 cents to $27.48.
The Bank of Nova Scotia (TSX:BNS) has taken a majority interest in Five Continents Financial Ltd., an asset management firm in the Cayman Islands. The terms of the transaction were not disclosed. Scotiabank shares were down 17 cents to $26.04.
The April crude contract on the New York Mercantile Exchange rose 4.38% to $43.61 and natural gas lost 3.50% to $3.95 as the S&P/TSX Energy Index gained 1.26%.
Eveready Inc. (EIS) +9.45% to $2.20. Paramount Resources Ltd. (POU) +6.82% to $5.64. Petrominerales Ltd. (PMG) +5.62% to $9.58. Suncor Inc. (TSX:SU) rose $1.15 to $27.35 and Canadian Natural Resources (TSX:CNQ) gained $1.29 to $41.80.
Pacific Rubiales Energy Corp. (PRE) -15.68% to $3.55. Cathedral Energy Services Inco (CET.UN) -14.58% to $2.05. Calfrac Well Services Ltd. (CFW) -8.67% to $7.16. Major Drilling Group Internati (MDI) -7.50% to $11.10. Paramount Energy Trust (PMT.UN) -6.80% to $2.88.
Roger Biduk;
Canadian autoparts maker Linamar Corp. (TSX:LNR) has cut its quarterly dividend in half. The Ontario-based company reported a fourth-quarter loss Thursday and said it would pay a quarterly dividend of three cents per share, down from six cents in the previous quarter. Linamar shares fell 33 cents to $2.67.
The S&P/TSX Capped Industrial Index lost .65%.
Newalta Inc. (NAL) -18.77% to $3.03. JDS Uniphase Canada Ltd. (JDU) -5.54% to $2.90.
The S&P/TSX Capped Utilities Index lost .066%.
EPCOR Power L.P. (EP.UN) -6.45% to $14.64.
The S&P/TSX Consumer Discretionary Index was .59% lower and the S&P/TSX Consumer Staples Index gained .71%.
Supremex Income Fund (SXP.UN) -11.39% to $2.10. Linamar Corporation (LNR) -11.00% to $2.67.
SNC Lavalin Group Inc. (TSX:SNC) reported fourth quarter net income of $75 million, compared with a net income of $68.7 million for the same period in 2007. For all of 2008, the engineering giant reports $312.5 million in net income, compared with $153.2 million in 2007. SNC also announced a 25 per cent increase to quarterly dividends. Its shares climbed 74 cents to $29.39.
Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 3.94%.
BioMS Medical Corp. (MS) +5.02% to $2.30.
In the service sector:
Jean Coutu Group Inc. (PJC.A) +13.18% to $8.16. TransForce Inc. (TFI) +7.01% to $3.36.
Altus Group Income Fund (AIF.UN) -16.97% to $5.48. Jazz Air Income Fund (JAZ.UN) -9.92% to $3.45. Data Group Income Fund (The) (DGI.UN) -8.51% to $3.01. Transcontinental Inc. (TCL.A) -7.22% to $6.04. Empire Company Ltd. (EMP.A) -5.87% to $49.10.
Industrial waste management services provider Newalta Inc. (TSX:NAL) said Friday it was cutting its dividend by 14 cents to five cents after reporting a drop in profits for both the most recent quarter and fiscal year. The company cited volatile markets and weak commodity prices and its shares dropped 70 cents to $3.
The S&P/TSX Capped Information Technology Index lost 2.28% and the S&P/TSX Capped Telecom Services Index was 1.08% lower.
TSX included Research In Motion Ltd. (TSX:RIM)down $2.22 to $46.60.
The S&P/TSX Global Gold Index dropped .72% as the April bullion contract in New York jumped 14.90 to US$942.70 an ounce.
Aquiline Resources Inc. (AQI) +8.47% to $3.20. Kirkland Lake Gold Inc. (KGI) +7.78% to $5.40. International Minerals Corp. (IMZ) -6.96% to $3.21. Goldcorp Inc. (TSX:G) faded 63 cents to $37.82.
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Friday, March 6, 2009
Roger Biduk, Bay Street Sinks on Energy & Financials
Roger Biduk;
I don’t usually make recommendations in this email (and I’m still not) but there are some sectors that are worth looking at after these huge drops.
I’m expecting a huge but brief relief rally that should bring the indexes, commodity and financial sectors to some sharp gains. I’d be looking at ETFs that are leveraged in these areas.
It could start tomorrow when the employment numbers come out at 8:30 AM. in the U.S. The non-farm payrolls numbers and unemployment rate are going to be ugly. But that could be a short-term catalyst washing out any remaining sellers going forward.
Ten of the eleven sectors I follow on Bay Street fell today as the S&P/TSX composite index lost Wednesday's 183-point advance, falling 185.58 points to 7,629.17.
The TSX Venture Exchange slipped 1.26 points to 829.69 while the CDN$ fell 0.79 cent to 77.62 cents US.
The S&P/TSX Capped Financial Index tanked 4.97% after being slapped around earlier in the week after insurer American International Group Inc. handed in a US$62 billion quarterly loss, a U.S. corporate record.
Royal Bank (TSX:RY) declined $1.36 to $29.22 and CIBC (TSX:CM) shares were down $1.77 to $37.86 after it announced that it will raise up to $1.6 billion in a Tier 1 debt issue. It said that completion would take the bank's pro-forma Tier 1 capital ratio to about 11.5 per cent.
Canadian Western Bank (TSX:CWB) reported Thursday a first-quarter profit of $25.6 million, down from a year-earlier $25.9 million in earnings, as the fallout from the recession continued to pressure its earnings. Its shares gave back $1.27 to $9.33.
MI Developments Inc. (MIM.A) +16.20% to $5.81. Central GoldTrust (GTU.UN) +11.96% to $58.50. iShares CDN S&P/TSX Global Gol (XGD) +6.26% to $19.34. Dynasty Metals & Mining Inc. (DMM) +5.91% to $5.20.
Homburg Invest Inc. (HII.A) -20.95% to $4.00. Crown Hill Fund (MYT.UN) -18.52% to $2.64. Financial 15 Split Corp. (FTN) -13.38% to $2.33. Brompton Lifeco Split Corp. (LCS.PR.A) -12.13% to $7.03. Canadian Western Bank (CWB) -11.98% to $9.33.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange dropped 3.90% to $43.61 and natural gas lost 5.81% to $4.09 as the S&P/TSX Energy Index lost 3.09%.
TriStar Oil & Gas Ltd. (TOG) -14.93% to $7.92. Galleon Energy Inc. (GO) -9.43% to $2.40. Trinidad Drilling Ltd. (TDG) -8.79% to $2.18. Addax Petroleum Corporation (AXC) -8.20% to $21.49. Cathedral Energy Services Inco (CET.UN) -7.34% to $2.40. EnCana Corp. (TSX:ECA) surrendered $1.71 to $48.56.
Investors also took in earnings reports from some of the oilpatch's heavyweights, while another company filed for creditor protection.
Natural gas explorer and producer Canadian Superior Energy Inc. (TSX:SNG) says it has filed an application with the Court of Queen's Bench of Alberta for protection from creditors under the federal Companies' Creditors Arrangement Act. Its shares plunged 20 cents to 29 cents and the TSX said it is "reviewing the common shares of the company with respect to meeting the continued listing requirements."
Canadian Natural Resources (CNQ) +5.11% to $40.51 after it said Thursday it was reducing its 2009 capital spending budget by $800 million in anticipation of a turbulent year marked by low commodity prices. The company recorded net earnings of $1.8 billion during the fourth quarter, up from year-earlier profits of $798 million. Canadian Natural also said it was raising its annual dividend by five per cent to 42 cents per share.
Shares in Talisman Energy Inc. (TSX:TLM) drifted 10 cents lower to $11.38 after the oil and natural gas producer said net profits for the latest quarter came in at $1.2 billion, up sharply from year-earlier profits of $656 million.
The S&P/TSX Capped Diversified Metals & Mining Index sank 3.02% as aluminum lost 2.42%, copper dropped 2.39% and silver rose 1.51% to $13.11.
Greystar Resources Ltd. (GSL) +13.74% to $2.40. Forsys Metals Corp. (FSY) +10.18% to $6.28. Aquiline Resources Inc. (AQI) +10.07% to $2.95. Red Back Mining Inc. (RBI) +9.54% to $7.69. Agnico-Eagle Mines Ltd. (AEM) +8.64% to $65.40.
Mongolia has submitted a draft agreement to allow Canadian mining company Ivanhoe Mines (TSX:IVN) and Rio Tinto to mine at one of the country's largest gold and copper deposits. Ivanhoe shares inched 12 cents lower to $5.63 .
Roger Biduk;
The gold sector was the only advancer as the S&P/TSX Global Gold Index soared 6.34% as the April bullion contract in New York jumped $21.10 to US$927.80 an ounce.
SEMAFO INC. (SMF) +16.29% to $2.07. Greystar Resources Ltd. (GSL) +13.74% to $2.40. Yamana Gold Inc. (YRI) +10.87% to $11.32. Aquiline Resources Inc. (AQI) +10.07% to $2.95. Goldcorp Inc. (TSX:G) ran ahead $3.02 to $38.45
Virginia Mines Inc. (VGQ) -6.25% to $3.75. Gabriel Resources Ltd. (GBU) -5.56% to $2.55.
The S&P/TSX Capped Information Technology Index lost 2.39% and the S&P/TSX Capped Telecom Services Index was 2.72% lower.
Celestica Inc. (CLS) -7.25% to $3.71.
The S&P/TSX Capped Industrial Index lost 4.20%.
Bombardier Inc. (BBD.B) -8.96% to $2.44.
The S&P/TSX Capped Utilities Index lost .06%.
The S&P/TSX Consumer Discretionary Index was 2.37% lower and the S&P/TSX Consumer Staples Index dropped 3.46%.
Gildan Activewear Inc. (GIL) -5.10% to $7.44.
The S&P/TSX Capped Health Care Index was lower by 2.55%.
The service sector also stunk today. Great Canadian Gaming Corporat (GC) -12.82% to $2.38. Transcontinental Inc. (TCL.A) -9.75% to $6.48. Wajax Income Fund (WJX.UN) -6.43% to $12.80. Canadian Pacific Railway Limit (CP) -5.83% to $33.27.
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I don’t usually make recommendations in this email (and I’m still not) but there are some sectors that are worth looking at after these huge drops.
I’m expecting a huge but brief relief rally that should bring the indexes, commodity and financial sectors to some sharp gains. I’d be looking at ETFs that are leveraged in these areas.
It could start tomorrow when the employment numbers come out at 8:30 AM. in the U.S. The non-farm payrolls numbers and unemployment rate are going to be ugly. But that could be a short-term catalyst washing out any remaining sellers going forward.
Ten of the eleven sectors I follow on Bay Street fell today as the S&P/TSX composite index lost Wednesday's 183-point advance, falling 185.58 points to 7,629.17.
The TSX Venture Exchange slipped 1.26 points to 829.69 while the CDN$ fell 0.79 cent to 77.62 cents US.
The S&P/TSX Capped Financial Index tanked 4.97% after being slapped around earlier in the week after insurer American International Group Inc. handed in a US$62 billion quarterly loss, a U.S. corporate record.
Royal Bank (TSX:RY) declined $1.36 to $29.22 and CIBC (TSX:CM) shares were down $1.77 to $37.86 after it announced that it will raise up to $1.6 billion in a Tier 1 debt issue. It said that completion would take the bank's pro-forma Tier 1 capital ratio to about 11.5 per cent.
Canadian Western Bank (TSX:CWB) reported Thursday a first-quarter profit of $25.6 million, down from a year-earlier $25.9 million in earnings, as the fallout from the recession continued to pressure its earnings. Its shares gave back $1.27 to $9.33.
MI Developments Inc. (MIM.A) +16.20% to $5.81. Central GoldTrust (GTU.UN) +11.96% to $58.50. iShares CDN S&P/TSX Global Gol (XGD) +6.26% to $19.34. Dynasty Metals & Mining Inc. (DMM) +5.91% to $5.20.
Homburg Invest Inc. (HII.A) -20.95% to $4.00. Crown Hill Fund (MYT.UN) -18.52% to $2.64. Financial 15 Split Corp. (FTN) -13.38% to $2.33. Brompton Lifeco Split Corp. (LCS.PR.A) -12.13% to $7.03. Canadian Western Bank (CWB) -11.98% to $9.33.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange dropped 3.90% to $43.61 and natural gas lost 5.81% to $4.09 as the S&P/TSX Energy Index lost 3.09%.
TriStar Oil & Gas Ltd. (TOG) -14.93% to $7.92. Galleon Energy Inc. (GO) -9.43% to $2.40. Trinidad Drilling Ltd. (TDG) -8.79% to $2.18. Addax Petroleum Corporation (AXC) -8.20% to $21.49. Cathedral Energy Services Inco (CET.UN) -7.34% to $2.40. EnCana Corp. (TSX:ECA) surrendered $1.71 to $48.56.
Investors also took in earnings reports from some of the oilpatch's heavyweights, while another company filed for creditor protection.
Natural gas explorer and producer Canadian Superior Energy Inc. (TSX:SNG) says it has filed an application with the Court of Queen's Bench of Alberta for protection from creditors under the federal Companies' Creditors Arrangement Act. Its shares plunged 20 cents to 29 cents and the TSX said it is "reviewing the common shares of the company with respect to meeting the continued listing requirements."
Canadian Natural Resources (CNQ) +5.11% to $40.51 after it said Thursday it was reducing its 2009 capital spending budget by $800 million in anticipation of a turbulent year marked by low commodity prices. The company recorded net earnings of $1.8 billion during the fourth quarter, up from year-earlier profits of $798 million. Canadian Natural also said it was raising its annual dividend by five per cent to 42 cents per share.
Shares in Talisman Energy Inc. (TSX:TLM) drifted 10 cents lower to $11.38 after the oil and natural gas producer said net profits for the latest quarter came in at $1.2 billion, up sharply from year-earlier profits of $656 million.
The S&P/TSX Capped Diversified Metals & Mining Index sank 3.02% as aluminum lost 2.42%, copper dropped 2.39% and silver rose 1.51% to $13.11.
Greystar Resources Ltd. (GSL) +13.74% to $2.40. Forsys Metals Corp. (FSY) +10.18% to $6.28. Aquiline Resources Inc. (AQI) +10.07% to $2.95. Red Back Mining Inc. (RBI) +9.54% to $7.69. Agnico-Eagle Mines Ltd. (AEM) +8.64% to $65.40.
Mongolia has submitted a draft agreement to allow Canadian mining company Ivanhoe Mines (TSX:IVN) and Rio Tinto to mine at one of the country's largest gold and copper deposits. Ivanhoe shares inched 12 cents lower to $5.63 .
Roger Biduk;
The gold sector was the only advancer as the S&P/TSX Global Gold Index soared 6.34% as the April bullion contract in New York jumped $21.10 to US$927.80 an ounce.
SEMAFO INC. (SMF) +16.29% to $2.07. Greystar Resources Ltd. (GSL) +13.74% to $2.40. Yamana Gold Inc. (YRI) +10.87% to $11.32. Aquiline Resources Inc. (AQI) +10.07% to $2.95. Goldcorp Inc. (TSX:G) ran ahead $3.02 to $38.45
Virginia Mines Inc. (VGQ) -6.25% to $3.75. Gabriel Resources Ltd. (GBU) -5.56% to $2.55.
The S&P/TSX Capped Information Technology Index lost 2.39% and the S&P/TSX Capped Telecom Services Index was 2.72% lower.
Celestica Inc. (CLS) -7.25% to $3.71.
The S&P/TSX Capped Industrial Index lost 4.20%.
Bombardier Inc. (BBD.B) -8.96% to $2.44.
The S&P/TSX Capped Utilities Index lost .06%.
The S&P/TSX Consumer Discretionary Index was 2.37% lower and the S&P/TSX Consumer Staples Index dropped 3.46%.
Gildan Activewear Inc. (GIL) -5.10% to $7.44.
The S&P/TSX Capped Health Care Index was lower by 2.55%.
The service sector also stunk today. Great Canadian Gaming Corporat (GC) -12.82% to $2.38. Transcontinental Inc. (TCL.A) -9.75% to $6.48. Wajax Income Fund (WJX.UN) -6.43% to $12.80. Canadian Pacific Railway Limit (CP) -5.83% to $33.27.
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Wednesday, March 4, 2009
Roger Biduk; Bay Street Higher on Commodities
Roger Biduk;
Toronto's S&P/TSX composite index ran ahead 183.13 points to 7,814.75. This followed three days of losses that had carved more than 500 points from the index, sending it down to 2003 levels.
The TSX Venture Exchange added 6.88 points to 830.95.
The Canadian dollar rose 0.96 cent to 78.41 cents US.
The Toronto market benefited from rising energy and mining stocks on hopes China will hike demand and jolt commodity shares back to life.
The S&P/TSX Capped Diversified Metals & Mining Index jumped 4.09% as aluminum gained 2.48%, copper jumped 5.48% and silver rose 1.57% to $12.92.
Consolidated Thompson Iron Min (CLM) +35.06% to $2.35. Quadra Mining Ltd. (QUA) +10.79% to $3.80. Osisko Mining Corporation (OSK) +5.49% to $4.80.
New Gold Inc. (NGD) -10.87% to $2.05. Forsys Metals Corp. (FSY) -9.38% to $5.70. Silvercorp Metals Inc. (SVM) -5.54% to $2.56. Red Back Mining Inc. (RBI) -5.26% to $7.02.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange soared 8.96% to $45.38 and natural gas gained 1.12% to $4.34 as the S&P/TSX Energy Index soared 6.59%. Prices got a lift after a report showed that oil inventories in the U.S. dipped last week and demand for gasoline continued to rise. The U.S. government's weekly supply report showed that crude stockpiles decreased by 700,000 barrels in the week ended Feb. 27, while analysts expected an increase of 2.2 million barrels.
Petrominerales Ltd. (PMG) +12.43% to $9.59. Galleon Energy Inc. (GO) +10.42% to $2.65. Husky Energy Inc. (HSE) +9.96% to $27.83. Bonavista Energy Trust (BNP.UN) +9.50% to $13.60. Paramount Resources Ltd. (POU) +8.71% to $5.49.
EnCana Corp. (TSX:ECA) gained $2.89 to $50.27 and Suncor Inc. (TSX:SU) advanced $1.98 to $26.99.
The S&P/TSX Capped Financial Index gained 2.53%.
Fairborne Energy Ltd. (FEL) +16.53% to $2.75. Baytex Energy Trust (BTE.UN) +13.50% to $12.36. H & R Real Estate Investment Trust (HR.UN) +13.38% to $7.37. Canadian Oil Sands Trust (COS.UN) +12.58% to $20.50. Birchcliff Energy Ltd. (BIR) +11.88% to $4.99.
Dividend 15 Split Corp. II (DF) -10.76% 2.57. Homburg Invest Inc. (HII.A) -7.58% 5.00. Laurentian Bank of Canada (LB) -6.92% 28.25. Franco-Nevada Corporation (FNV.WT) -5.93% to $5.39. Life & Banc Split Corp. (LBS) -5.49% 2.41.
Sun Life Financial (TSX:SLF) rose 54 cents to $17.98 following reports it is in talks to buy insurance assets from U.S.-based Hartford Financial Services Group.
Bank of Montreal (TSX:BMO) climbed 73 cents to $28.37 and Royal Bank (TSX:RY) advanced 92 cents to $30.58.
Laurentian Bank (TSX:LB) reported its first-quarter earnings rose to $25 million from $19.1 million a year ago, but its shares fell $2.10 to $28.25.
Roger Biduk;
The gold sector led the TSX lower as the S&P/TSX Global Gold Index lost 2.87% as the April bullion contract in New York lost $6.90 to US$906.70 an ounce.
First Quantum Minerals Ltd. (FM) +7.16% to $33.66. Guyana Goldfields Inc. (GUY) +5.28% to $2.79.
Barrick Gold Corp. (TSX:ABX) declined $1.46 to $35.25.
Agnico-Eagle Mines Ltd. (TSX:AEM) raised its estimate of gold reserves by eight per cent to 18.1 million ounces after spending $72 million on exploration last year. Its shares were off $2.09 to $60.20.
WestJet Airlines Ltd. (TSX:WJA) descended 71 cents to $11.24 after announcing that the weak economy and fare competition will hit its first-quarter results.
The S&P/TSX Capped Information Technology Index gained 1.10% and the S&P/TSX Capped Telecom Services Index was 2.40% higher.
SXC Health Solutions Corp. (SXC) +8.19% to $24.45. Mosaid Technologies Inc. (MSD) +6.31% to $11.12. 5N Plus Inc. (VNP) +6.02% to $5.46. Research in Motion Limited (RIM) +5.31% to $51.75. Aastra Technologies Limited (AAH) +5.19% to $15.40.
Torstar Corporation (TS.B) -5.49% to $4.30.
Roger Biduk;
The S&P/TSX Capped Industrial Index gained 2.51%.
Sino-Forest Corporation (TRE) +11.59% to $7.80. GLV Inc. (GLV.A) +10.04% to $6.25. SNC - Lavalin Group Inc. (SNC) +7.04% to $28.90. Toromont Industries Ltd. (TIH) +7.00% to $21.55.
The S&P/TSX Capped Utilities Index lost .06%.
Canadian Hydro Developers Inc. (KHD) +6.69% to $2.55.
The S&P/TSX Consumer Discretionary Index was 1.24% higher and the S&P/TSX Consumer Staples Index jumped 4.09%.
Gildan Activewear Inc. (GIL) -7.44% to $7.84.
Cascades Inc. (CAS) +6.84% to $2.03.
The S&P/TSX Capped Health Care Index was lower by 1.10%. Biovail Corporation (BVF) +6.00% to $14.32.
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Toronto's S&P/TSX composite index ran ahead 183.13 points to 7,814.75. This followed three days of losses that had carved more than 500 points from the index, sending it down to 2003 levels.
The TSX Venture Exchange added 6.88 points to 830.95.
The Canadian dollar rose 0.96 cent to 78.41 cents US.
The Toronto market benefited from rising energy and mining stocks on hopes China will hike demand and jolt commodity shares back to life.
The S&P/TSX Capped Diversified Metals & Mining Index jumped 4.09% as aluminum gained 2.48%, copper jumped 5.48% and silver rose 1.57% to $12.92.
Consolidated Thompson Iron Min (CLM) +35.06% to $2.35. Quadra Mining Ltd. (QUA) +10.79% to $3.80. Osisko Mining Corporation (OSK) +5.49% to $4.80.
New Gold Inc. (NGD) -10.87% to $2.05. Forsys Metals Corp. (FSY) -9.38% to $5.70. Silvercorp Metals Inc. (SVM) -5.54% to $2.56. Red Back Mining Inc. (RBI) -5.26% to $7.02.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange soared 8.96% to $45.38 and natural gas gained 1.12% to $4.34 as the S&P/TSX Energy Index soared 6.59%. Prices got a lift after a report showed that oil inventories in the U.S. dipped last week and demand for gasoline continued to rise. The U.S. government's weekly supply report showed that crude stockpiles decreased by 700,000 barrels in the week ended Feb. 27, while analysts expected an increase of 2.2 million barrels.
Petrominerales Ltd. (PMG) +12.43% to $9.59. Galleon Energy Inc. (GO) +10.42% to $2.65. Husky Energy Inc. (HSE) +9.96% to $27.83. Bonavista Energy Trust (BNP.UN) +9.50% to $13.60. Paramount Resources Ltd. (POU) +8.71% to $5.49.
EnCana Corp. (TSX:ECA) gained $2.89 to $50.27 and Suncor Inc. (TSX:SU) advanced $1.98 to $26.99.
The S&P/TSX Capped Financial Index gained 2.53%.
Fairborne Energy Ltd. (FEL) +16.53% to $2.75. Baytex Energy Trust (BTE.UN) +13.50% to $12.36. H & R Real Estate Investment Trust (HR.UN) +13.38% to $7.37. Canadian Oil Sands Trust (COS.UN) +12.58% to $20.50. Birchcliff Energy Ltd. (BIR) +11.88% to $4.99.
Dividend 15 Split Corp. II (DF) -10.76% 2.57. Homburg Invest Inc. (HII.A) -7.58% 5.00. Laurentian Bank of Canada (LB) -6.92% 28.25. Franco-Nevada Corporation (FNV.WT) -5.93% to $5.39. Life & Banc Split Corp. (LBS) -5.49% 2.41.
Sun Life Financial (TSX:SLF) rose 54 cents to $17.98 following reports it is in talks to buy insurance assets from U.S.-based Hartford Financial Services Group.
Bank of Montreal (TSX:BMO) climbed 73 cents to $28.37 and Royal Bank (TSX:RY) advanced 92 cents to $30.58.
Laurentian Bank (TSX:LB) reported its first-quarter earnings rose to $25 million from $19.1 million a year ago, but its shares fell $2.10 to $28.25.
Roger Biduk;
The gold sector led the TSX lower as the S&P/TSX Global Gold Index lost 2.87% as the April bullion contract in New York lost $6.90 to US$906.70 an ounce.
First Quantum Minerals Ltd. (FM) +7.16% to $33.66. Guyana Goldfields Inc. (GUY) +5.28% to $2.79.
Barrick Gold Corp. (TSX:ABX) declined $1.46 to $35.25.
Agnico-Eagle Mines Ltd. (TSX:AEM) raised its estimate of gold reserves by eight per cent to 18.1 million ounces after spending $72 million on exploration last year. Its shares were off $2.09 to $60.20.
WestJet Airlines Ltd. (TSX:WJA) descended 71 cents to $11.24 after announcing that the weak economy and fare competition will hit its first-quarter results.
The S&P/TSX Capped Information Technology Index gained 1.10% and the S&P/TSX Capped Telecom Services Index was 2.40% higher.
SXC Health Solutions Corp. (SXC) +8.19% to $24.45. Mosaid Technologies Inc. (MSD) +6.31% to $11.12. 5N Plus Inc. (VNP) +6.02% to $5.46. Research in Motion Limited (RIM) +5.31% to $51.75. Aastra Technologies Limited (AAH) +5.19% to $15.40.
Torstar Corporation (TS.B) -5.49% to $4.30.
Roger Biduk;
The S&P/TSX Capped Industrial Index gained 2.51%.
Sino-Forest Corporation (TRE) +11.59% to $7.80. GLV Inc. (GLV.A) +10.04% to $6.25. SNC - Lavalin Group Inc. (SNC) +7.04% to $28.90. Toromont Industries Ltd. (TIH) +7.00% to $21.55.
The S&P/TSX Capped Utilities Index lost .06%.
Canadian Hydro Developers Inc. (KHD) +6.69% to $2.55.
The S&P/TSX Consumer Discretionary Index was 1.24% higher and the S&P/TSX Consumer Staples Index jumped 4.09%.
Gildan Activewear Inc. (GIL) -7.44% to $7.84.
Cascades Inc. (CAS) +6.84% to $2.03.
The S&P/TSX Capped Health Care Index was lower by 1.10%. Biovail Corporation (BVF) +6.00% to $14.32.
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Tuesday, March 3, 2009
Roger Biduk; Bay Street Gets Wacked
Roger Biduk;
Interesting markets these days, to say the least.
The Toronto's S&P/TSX composite index dropped 435.51 points or 5.35 per cent to 7,687.51, its worst level since the fall of 2003.
The TSX Venture Exchange was off 33.42 points to 828.24.
The Canadian dollar lost 1.16 cents to 77.44 cents US a day before the Bank of Canada makes its next announcement on interest rates. Economists say it could cut by half a point, which would bring the central bank's key rate down to 0.5 per cent.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers and losers on Wall Street and Bay Street.
Horizons BetaPro NYMEX Crude Oil Bear (HOD) +19.66% to $37.79. Horizons BetaPro S&P/TSX Cap Energy Bear (HED) +17.13% to $23.04. Horizons BetaPro S&P/TSX Glbl Mining Bear (HMD) +13.72% to $13.18. Horizons BetaPro MSCI Emerging Markets Bear (HJD) +11.93% to $20.26. Horizons BetaPro S&P/TSX 60 Bear Plus (HXD) +11.68% to $35.20.
Making things worse on Toronto's heavily energy weighted stock index was a big plunge in the price of oil.
The April crude contract on the New York Mercantile Exchange cratered 10.30% to $40.15 and natural gas dropped 1.10% to $4.15 as the S&P/TSX Energy Index tanked 8.31%.
The drop was blamed on expectations of widening and deepening economic weakness.
Eveready Inc. (EIS) -16.34% to $2.56. Paramount Resources Ltd. (POU) -14.95% to $5.29. Crew Energy Inc. (CR) -14.86% to $2.75. Trinidad Drilling Ltd. (TDG) -13.95% to $2.22. Enerplus Resources Fund (ERF.UN) -12.80% to $18.80. EnCana Corp. (TSX:ECA) fell $3.13 to $47.07 and Suncor Inc. (TSX:SU) stepped back $2.71 to $23.75.
Roger Biduk;
Meanwhile, Statistics Canada reported the Canadian economy shrank at an annualized rate of 3.4 per cent in the fourth quarter. The contraction worsened toward the end of 2008, with gross domestic product declining one per cent in December.
The S&P/TSX Capped Financial Index dropped 4.47% as Scotiabank lost $1.68 to $27.03 and CIBC (TSX:CM) fell $2.90 to $40.25. Royal Bank of Canada (TSX:RY) shed 95 cents to $29.97, and insurer Manulife Financial (TSX:MFC) fell $1.32 to $11.58.
Energy Split Corp. Inc. (ES) -19.96% to $4.01. Premium Income Corporation (PIC.A) -16.32% to $2.00. Savanna Energy Services Corp. (SVY) -14.34% to $4.48. Artis Real Estate Investment T (AX.UN) -13.55% to $5.55. ARC Energy Trust (AET.UN) -13.12% to $12.12.
Prime Dividend Corp. (PDV.PR.A) +9.07% to $8.30. Claymore Equal Weight Banc & L (CEW) +6.99% to $4.59. Royal Host Real Estate (RYL.UN) +6.11% to $2.78.
The S&P/TSX Capped Information Technology Index lost 1.46% and the S&P/TSX Capped Telecom Services Index was down 3.10%.
Absolute Software Corporation (ABT) -9.46% to $3.54. SXC Health Solutions Corp. (SXC) -7.12% to $22.82. 5N Plus Inc. (VNP) -6.95% to $4.82. Research in Motion Limited (RIM) -5.78% to $47.90.
Roger Biduk;
The S&P/TSX Capped Industrial Index tanked 5.10%.
Bombardier Inc. (BBD.B) -13.85% to $2.55. Sino-Forest Corporation (TRE) -11.41% to $7.53. TimberWest Forest Corp. (TWF.UN) -8.93% to $2.65. ATS Automation Tooling Systems (ATA) -8.83% to $3.20. Newalta Inc. (NAL) -8.24% to $3.90.
The S&P/TSX Global Gold Index dropped 5.46% even as the April bullion contract in New York lost $2.40 to US$940.00 an ounce.
Detour Gold Corporation (DGC) -18.06% to $8.71. NovaGold Resources Inc (NG) -12.63% to $3.25. Yamana Gold Inc. (YRI) -8.45% to $10.18. Kinross Gold Corporation (K.WT.B) -7.93% to $2.670. First Quantum Minerals Ltd. (FM) -7.68% to $31.00.
The S&P/TSX Capped Utilities Index lost 2.21%.
Canadian Hydro Developers Inc (KHD) -11.03% to $2.34. Atlantic Power Corporation (ATP.UN) -5.99% to $7.37.
The S&P/TSX Consumer Discretionary Index was 2.67% lower and the S&P/TSX Consumer Staples Index was down .49%.
Cascades Inc. (CAS) -17.31% to $2.15. Rogers Sugar Income Fund (RSI.UN) -7.08 to $3.02.
The S&P/TSX Capped Diversified Metals & Mining Index dropped tanked 6.30% as aluminum dropped 1.63%, copper lost 1.46% and silver dropped .31% to $13.07.
Agrium Inc. (AGU) -12.88% to $38.48. Enerplus Resources Fund (ERF.UN) -12.80% to $18.80. PDX Resources Inc. (PLG) -12.40% to $2.26. Teck Cominco Limited (TCK.B) -11.63% to $3.95. Inmet Mining Corporation (IMN) -10.89% to $25.70.
The S&P/TSX Capped Health Care Index was lower by 1.14%.
Biovail Corporation (BVF) +5.33% to $14.24. Futuremed Healthcare Income Fund (FMD.UN) +6.49% to $8.70. Medical Facilities Corporation (DR.UN) -6.67% to $7.00. Atrium Innovations Inc. (ATB) -5.60% to $14.15.
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Interesting markets these days, to say the least.
The Toronto's S&P/TSX composite index dropped 435.51 points or 5.35 per cent to 7,687.51, its worst level since the fall of 2003.
The TSX Venture Exchange was off 33.42 points to 828.24.
The Canadian dollar lost 1.16 cents to 77.44 cents US a day before the Bank of Canada makes its next announcement on interest rates. Economists say it could cut by half a point, which would bring the central bank's key rate down to 0.5 per cent.
Exchange Traded Funds (ETFs) were again among the biggest percentage gainers and losers on Wall Street and Bay Street.
Horizons BetaPro NYMEX Crude Oil Bear (HOD) +19.66% to $37.79. Horizons BetaPro S&P/TSX Cap Energy Bear (HED) +17.13% to $23.04. Horizons BetaPro S&P/TSX Glbl Mining Bear (HMD) +13.72% to $13.18. Horizons BetaPro MSCI Emerging Markets Bear (HJD) +11.93% to $20.26. Horizons BetaPro S&P/TSX 60 Bear Plus (HXD) +11.68% to $35.20.
Making things worse on Toronto's heavily energy weighted stock index was a big plunge in the price of oil.
The April crude contract on the New York Mercantile Exchange cratered 10.30% to $40.15 and natural gas dropped 1.10% to $4.15 as the S&P/TSX Energy Index tanked 8.31%.
The drop was blamed on expectations of widening and deepening economic weakness.
Eveready Inc. (EIS) -16.34% to $2.56. Paramount Resources Ltd. (POU) -14.95% to $5.29. Crew Energy Inc. (CR) -14.86% to $2.75. Trinidad Drilling Ltd. (TDG) -13.95% to $2.22. Enerplus Resources Fund (ERF.UN) -12.80% to $18.80. EnCana Corp. (TSX:ECA) fell $3.13 to $47.07 and Suncor Inc. (TSX:SU) stepped back $2.71 to $23.75.
Roger Biduk;
Meanwhile, Statistics Canada reported the Canadian economy shrank at an annualized rate of 3.4 per cent in the fourth quarter. The contraction worsened toward the end of 2008, with gross domestic product declining one per cent in December.
The S&P/TSX Capped Financial Index dropped 4.47% as Scotiabank lost $1.68 to $27.03 and CIBC (TSX:CM) fell $2.90 to $40.25. Royal Bank of Canada (TSX:RY) shed 95 cents to $29.97, and insurer Manulife Financial (TSX:MFC) fell $1.32 to $11.58.
Energy Split Corp. Inc. (ES) -19.96% to $4.01. Premium Income Corporation (PIC.A) -16.32% to $2.00. Savanna Energy Services Corp. (SVY) -14.34% to $4.48. Artis Real Estate Investment T (AX.UN) -13.55% to $5.55. ARC Energy Trust (AET.UN) -13.12% to $12.12.
Prime Dividend Corp. (PDV.PR.A) +9.07% to $8.30. Claymore Equal Weight Banc & L (CEW) +6.99% to $4.59. Royal Host Real Estate (RYL.UN) +6.11% to $2.78.
The S&P/TSX Capped Information Technology Index lost 1.46% and the S&P/TSX Capped Telecom Services Index was down 3.10%.
Absolute Software Corporation (ABT) -9.46% to $3.54. SXC Health Solutions Corp. (SXC) -7.12% to $22.82. 5N Plus Inc. (VNP) -6.95% to $4.82. Research in Motion Limited (RIM) -5.78% to $47.90.
Roger Biduk;
The S&P/TSX Capped Industrial Index tanked 5.10%.
Bombardier Inc. (BBD.B) -13.85% to $2.55. Sino-Forest Corporation (TRE) -11.41% to $7.53. TimberWest Forest Corp. (TWF.UN) -8.93% to $2.65. ATS Automation Tooling Systems (ATA) -8.83% to $3.20. Newalta Inc. (NAL) -8.24% to $3.90.
The S&P/TSX Global Gold Index dropped 5.46% even as the April bullion contract in New York lost $2.40 to US$940.00 an ounce.
Detour Gold Corporation (DGC) -18.06% to $8.71. NovaGold Resources Inc (NG) -12.63% to $3.25. Yamana Gold Inc. (YRI) -8.45% to $10.18. Kinross Gold Corporation (K.WT.B) -7.93% to $2.670. First Quantum Minerals Ltd. (FM) -7.68% to $31.00.
The S&P/TSX Capped Utilities Index lost 2.21%.
Canadian Hydro Developers Inc (KHD) -11.03% to $2.34. Atlantic Power Corporation (ATP.UN) -5.99% to $7.37.
The S&P/TSX Consumer Discretionary Index was 2.67% lower and the S&P/TSX Consumer Staples Index was down .49%.
Cascades Inc. (CAS) -17.31% to $2.15. Rogers Sugar Income Fund (RSI.UN) -7.08 to $3.02.
The S&P/TSX Capped Diversified Metals & Mining Index dropped tanked 6.30% as aluminum dropped 1.63%, copper lost 1.46% and silver dropped .31% to $13.07.
Agrium Inc. (AGU) -12.88% to $38.48. Enerplus Resources Fund (ERF.UN) -12.80% to $18.80. PDX Resources Inc. (PLG) -12.40% to $2.26. Teck Cominco Limited (TCK.B) -11.63% to $3.95. Inmet Mining Corporation (IMN) -10.89% to $25.70.
The S&P/TSX Capped Health Care Index was lower by 1.14%.
Biovail Corporation (BVF) +5.33% to $14.24. Futuremed Healthcare Income Fund (FMD.UN) +6.49% to $8.70. Medical Facilities Corporation (DR.UN) -6.67% to $7.00. Atrium Innovations Inc. (ATB) -5.60% to $14.15.
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Sunday, March 1, 2009
Roger Biduk; Bay Street Higher for the Week
Roger Biduk;
Toronto's S&P/TSX composite index closed down 63.8 points to 8,123.02.
At the end of a week where the TSX brushed late 2003 lows, the main index gained 173 points or two per cent, thanks in large part to better-than-expected earnings reports from four of the big Canadian banks.
The TSX Venture Exchange gave back 1.15 points to 861.66.
The CDN$ was down one and a fifth US cents to 78.6 cents US as Canada's current account balance with the rest of the world fell to its first deficit in nine years - reaching $7.5 billion - in the final quarter of 2008 as export volumes and prices decreased.
The S&P/TSX Capped Financial Index dropped 3.13%.
World Financial Split Corp. (WFS) soared 20.90% to $2.43. Energy Split Corp. (ES) +17.92% to $5.00. Franco-Nevada Corporation (FNV.WT) +9.35% to $5.85 Canaccord Capital (CCI) higher by 7.73% to $4.32. Acuity Small Cap Corporation (ASF) up 7.51% to $2.72.
GMP Capital Trust (GMP.UN) -18.47% to $5.65. Fairborne Energy Ltd. (FEL) -9.35% to $2.81. Manulife Financial Corporation (MFC) -9.03% to $12.90. Kingsway Financial Services (KFS) -8.91% to $2.25. Labrador Iron Ore Royalty Inco (LIF.UN) -8.27% to $25.50.
Royal Bank (TSX:RY) down 98 cents to $30.92 and CIBC (TSX:CM) lost $2.76 to $43.15. Manulife Inc. (TSX:MFC) fell $1.28 to $12.90.
TD Bank (TSX:TD) shares lost 58 cents to $37.39. Ed Clark has agreed to a contract extension and will stay on as president and CEO until the annual meeting in 2013. He also will take a pension freeze and waived the right to severance pay.
Roger Biduk;
The S&P/TSX Capped Information Technology Index was flat and the S&P/TSX Capped Telecom Services Index was up .28%.
Absolute Software Corporation (ABT) +6.25% to $3.91.
Torstar Corporation (TS.B) -15.54% to $5.11. Miranda Technologies Inc. (MT) -11.34% to $5.24.
The April crude contract on the New York Mercantile Exchange dropped 1.02% to $44.76, natural gas gained 2.97% to $4.20 as the S&P/TSX Energy Index was .35% higher.
Progress Energy Resources Corp. (PRQ) +8.97% to $8.99. ShawCor Ltd. (SCL.A) +6.58% to $18.30.
Eveready Inc. (EIS) -8.66% to $3.06. NuVista Energy Ltd. (NVA) -6.83% to $5.59. Breaker Energy Ltd. (WAV) -6.37% to $2.35. Paramount Resources Ltd. (POU) -5.04% to $6.22.
EnCana Corp. (TSX:ECA) gained $1.32 to $50.20 and Canadian Natural Resources (TSX:CNQ) declined 76 cents to $40.90.
The S&P/TSX Capped Industrial Index lost .92%.
TimberWest Forest Corp. (TWF.UN) +10.23% to $2.91.
Bird Construction Income Fund (BDT.UN) -11.19% to $15.55. SNC - Lavalin Group Inc. (SNC) -8.25% to $29.04.
Roger Biduk;
The S&P/TSX Global Gold Index gained .98% even as the April bullion contract in New York lost $.10 to US$942.10 an ounce.
Kinross Gold Corporation (K.WT.B) -9.18% to $2.77. Kinross Gold Corporation (K.WT.C) -6.37% to $5.00.
Guyana Goldfields Inc. (GUY) +7.43% to $2.89. Goldcorp (TSX:G) rose 55 cents to $36.96.
The S&P/TSX Capped Utilities Index gained .89%.
Superior Plus Corp. (SPB) +6.45% to $10.57.
The S&P/TSX Consumer Discretionary Index was .28% lower and the S&P/TSX Consumer Staples Index was down .39%.
Cascades Inc. (CAS) -5.11% to $2.60. CCL Industries Inc. (CCL.B) -5.98% to $21.39.
The S&P/TSX Capped Diversified Metals & Mining Index dropped 2.32% as aluminum dropped 1.60%, copper lost 2.56% and silver gained .96% to $13.11.
Athabasca Potash Inc. (API) +9.04% to $2.05. Progress Energy Resources Corp. (PRQ) +8.97% to $8.99. Fronteer Development Group Inc. (FRG) +7.61% to $3.11. Aurora Energy Resources Inc. (AXU) +5.00% to $2.52.
Paramount Resources Ltd. (POU) -5.04% to $6.22. Gerdau AmeriSteel Corporation (GNA) -5.16% to $5.15. Migao Corporation (MGO) -7.14% to $6.11.
The S&P/TSX Capped Health Care Index was higher by 3.73%.
QLT Inc. (QLT) +9.80% to $2.24.
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Toronto's S&P/TSX composite index closed down 63.8 points to 8,123.02.
At the end of a week where the TSX brushed late 2003 lows, the main index gained 173 points or two per cent, thanks in large part to better-than-expected earnings reports from four of the big Canadian banks.
The TSX Venture Exchange gave back 1.15 points to 861.66.
The CDN$ was down one and a fifth US cents to 78.6 cents US as Canada's current account balance with the rest of the world fell to its first deficit in nine years - reaching $7.5 billion - in the final quarter of 2008 as export volumes and prices decreased.
The S&P/TSX Capped Financial Index dropped 3.13%.
World Financial Split Corp. (WFS) soared 20.90% to $2.43. Energy Split Corp. (ES) +17.92% to $5.00. Franco-Nevada Corporation (FNV.WT) +9.35% to $5.85 Canaccord Capital (CCI) higher by 7.73% to $4.32. Acuity Small Cap Corporation (ASF) up 7.51% to $2.72.
GMP Capital Trust (GMP.UN) -18.47% to $5.65. Fairborne Energy Ltd. (FEL) -9.35% to $2.81. Manulife Financial Corporation (MFC) -9.03% to $12.90. Kingsway Financial Services (KFS) -8.91% to $2.25. Labrador Iron Ore Royalty Inco (LIF.UN) -8.27% to $25.50.
Royal Bank (TSX:RY) down 98 cents to $30.92 and CIBC (TSX:CM) lost $2.76 to $43.15. Manulife Inc. (TSX:MFC) fell $1.28 to $12.90.
TD Bank (TSX:TD) shares lost 58 cents to $37.39. Ed Clark has agreed to a contract extension and will stay on as president and CEO until the annual meeting in 2013. He also will take a pension freeze and waived the right to severance pay.
Roger Biduk;
The S&P/TSX Capped Information Technology Index was flat and the S&P/TSX Capped Telecom Services Index was up .28%.
Absolute Software Corporation (ABT) +6.25% to $3.91.
Torstar Corporation (TS.B) -15.54% to $5.11. Miranda Technologies Inc. (MT) -11.34% to $5.24.
The April crude contract on the New York Mercantile Exchange dropped 1.02% to $44.76, natural gas gained 2.97% to $4.20 as the S&P/TSX Energy Index was .35% higher.
Progress Energy Resources Corp. (PRQ) +8.97% to $8.99. ShawCor Ltd. (SCL.A) +6.58% to $18.30.
Eveready Inc. (EIS) -8.66% to $3.06. NuVista Energy Ltd. (NVA) -6.83% to $5.59. Breaker Energy Ltd. (WAV) -6.37% to $2.35. Paramount Resources Ltd. (POU) -5.04% to $6.22.
EnCana Corp. (TSX:ECA) gained $1.32 to $50.20 and Canadian Natural Resources (TSX:CNQ) declined 76 cents to $40.90.
The S&P/TSX Capped Industrial Index lost .92%.
TimberWest Forest Corp. (TWF.UN) +10.23% to $2.91.
Bird Construction Income Fund (BDT.UN) -11.19% to $15.55. SNC - Lavalin Group Inc. (SNC) -8.25% to $29.04.
Roger Biduk;
The S&P/TSX Global Gold Index gained .98% even as the April bullion contract in New York lost $.10 to US$942.10 an ounce.
Kinross Gold Corporation (K.WT.B) -9.18% to $2.77. Kinross Gold Corporation (K.WT.C) -6.37% to $5.00.
Guyana Goldfields Inc. (GUY) +7.43% to $2.89. Goldcorp (TSX:G) rose 55 cents to $36.96.
The S&P/TSX Capped Utilities Index gained .89%.
Superior Plus Corp. (SPB) +6.45% to $10.57.
The S&P/TSX Consumer Discretionary Index was .28% lower and the S&P/TSX Consumer Staples Index was down .39%.
Cascades Inc. (CAS) -5.11% to $2.60. CCL Industries Inc. (CCL.B) -5.98% to $21.39.
The S&P/TSX Capped Diversified Metals & Mining Index dropped 2.32% as aluminum dropped 1.60%, copper lost 2.56% and silver gained .96% to $13.11.
Athabasca Potash Inc. (API) +9.04% to $2.05. Progress Energy Resources Corp. (PRQ) +8.97% to $8.99. Fronteer Development Group Inc. (FRG) +7.61% to $3.11. Aurora Energy Resources Inc. (AXU) +5.00% to $2.52.
Paramount Resources Ltd. (POU) -5.04% to $6.22. Gerdau AmeriSteel Corporation (GNA) -5.16% to $5.15. Migao Corporation (MGO) -7.14% to $6.11.
The S&P/TSX Capped Health Care Index was higher by 3.73%.
QLT Inc. (QLT) +9.80% to $2.24.
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Thursday, February 26, 2009
Roger Biduk; Banks Lift Bay Street
Roger Biduk;
Stocks in Canada gained Wednesday, with the financial sector leading the market higher, as investors were cheered by a relatively small decline in Toronto-Dominion Bank's first-quarter net income.
In Toronto, the S&P/TSX Composite (ISPTX) closed up 73 points, or 0.9%, at 7,932.3 points. On Tuesday, the index rose 2.8%, tracking a rally on Wall Street.
Advancers led decliners 744 to 742.
The S&P/TSX Capped Financial Index jumped 3.08% today.
NB Split (NBF) soared 34.00% to $3.35. 5Banc Split (FBS.B) jumped 30.00%. Premium Income (PIC.A) higher by 29.44%. Dividend 15 Split (DF) gained 17.57% to $2.61.
Savanna Enegy Serv. (SVY) tanked 9.63% to $4.88. Gluskin Sheff & Ass. (GS) sank 6.76% to $8.00. Livingston Int’l. inc. (LIV.UN) down 6.70% to $3.90. Euitable Gr. (ETC) lower by 6.11% to $10.29.
Kicking off the Canadian bank earnings season, Toronto-Dominion Bank (TD) reported that its net income fell to C$712 million in the first quarter ended Jan. 31, down from C$970 million a year earlier. Adjusted net income fell to C$1.14 billion compared with C$1.06 billion a year earlier.
The bank reported earnings of 82 cents a share, compared with C$1.33 cents a share a year ago. It said that it expects "a worsening economic environment." Shares of the bank closed up 1.7%
Elsewhere in the sector, Royal Bank of Canada (RY) gained 5.3% and the Bank of Nova Scotia (BNS) added 4.2%. Bank of Montreal (BMO) slid 0.9%.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange
soared 6.36% to US$42.50 a barrel and the S&P/TSX Energy Index was 1.87% higher. Natural gas lost 3.93% to $4.03.
Phoenis Tech. Income Fund (PHX.UN) soared 14.65 to $5.79. Zargon Energy Tr. (ZAR.UN) jumped 11.11% to $15.40. Verenex Energy Tr. (VNX) rose 10.64% to $7.80. Trinidad Drilling (TDG) gained 7.59% to $2.55. Petrobank Energy & Res. (PBG) up 6.90% to $19.22.
NuVista Energy (NVA) sank 8.45% to $5.20. Eveready (EIS) down 6.94% to $3.35.
The S&P/TSX Capped Industrial Index dropped 1.34%.
West Fraser Timer (WFT) jumped 8.59% to $26.17.
The S&P/TSX Capped Information Technology Index rose 1.42% and the S&P/TSX Capped Telecom Services Index was down .44%.
Aastra Tech. (AAH) soared 46.70% to $13.76. Evertz Tech. (ET) jumped 13.78% to $11.15. Gennum (GND) gained 10.53% to $4.20. Torstar (TS.B) up 5.10% to $6.39.
In the mining sector, several producers' shares pared earlier gains or registered losses as gold prices slid.
The S&P/TSX Global Gold Index lost .21% as the April bullion contract in New York lost $3.30 to US$966.20 an ounce.
Jaguar Mining (JAG) lost 5.24% to $6.87.
Moto Goldmines (MGL) soared 29.17% to $3.10. US Gold Corp. (UXG) jumped 5.93% to $2.50. Gabriel Res. (GBU) rose 5.51% to $2.68.
Shares in Yamana Gold Inc. (YRI) ended 1.9% higher. Shares of Equinox Minerals Limited (EQN) fell 2.3%. Barrick Gold Corp. (ABX) closed 0.4% lower.
Roger Biduk;
Shares of Agrium Inc. (AGU), a producer of fertilizers and other agricultural products, tumbled 8.5% after it launched an unsolicited bid Wednesday for CF Industries Holdings (US:CF), which itself is making a hostile bid for another firm, Terra Industries (US:TRA).
Calgary-based Agrium said it's bidding $3.6 billion of cash and stock for CF Industries Holdings in a deal that would add CF's North American nitrogen, phosphate and crop nutrient distribution assets to Agrium's global wholesale and retail capabilities.
The S&P/TSX Capped Utilities Index gained .90%.
The S&P/TSX Consumer Discretionary Index was .54% lower and the S&P/TSX Consumer Staples Index was down .52%.
Richelieu Hardware (RCH) jumped 6.20% to $16.97.
Maple Leaf Foods (MFI) sank 7.21% to $8.75.
The S&P/TSX Capped Diversified Metals & Mining Index gained .47% as aluminum gained 1.65%, copper gained 2.47% and silver dropped .86% to $13.91.
Sherritt Int’l. (S) tanked 18.92% to $2.10. Osisko Mining (OSK) sank 5.38% to $4.40. Jaguar Mining (JAG) lower by 5.24% to $6.87.
Ivanhoe Mines (IVN) jumping 10.33% to $5.66. Timminco (TIM) higher by 9.86% to $3.12. Hanfeng Evergreen (HF) up 8.24% to $6.96. Altus Min. (ALS) rising 6.04% to $6.50.
Shares of Bombardier Inc. (BBD.B) fell 1.4%. The company said Wednesday that Bombardier Transportation has been awarded a contract in Australia by the Victorian government to build 32 rail cars valued at about $95 million.
Some energy companies reversed higher as oil prices rallied more than 6% to $42.50 a barrel.
Shares of Talisman Energy Inc. (TLM) ended 3.6% higher and shares of Suncor Energy Inc. (SU) gained 1.5%.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 1.34%.
QLT (QLT) jumped 7.32% to $2.20. Atrium Innovastions (ATB) higher by 6.50% to $14.75.
In the service sector, Hartco Inc. Fund (HCI.UN) tanked to 23.08% to $2.30. Guardian Capital GR. (GCG.A) sank 6.25% to $3.00. Ritchie Bros. Auctioneers (RBA) down 6.16% to $19.20. Weston Gr. (WN) down 5.26% to $59.85.
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Stocks in Canada gained Wednesday, with the financial sector leading the market higher, as investors were cheered by a relatively small decline in Toronto-Dominion Bank's first-quarter net income.
In Toronto, the S&P/TSX Composite (ISPTX) closed up 73 points, or 0.9%, at 7,932.3 points. On Tuesday, the index rose 2.8%, tracking a rally on Wall Street.
Advancers led decliners 744 to 742.
The S&P/TSX Capped Financial Index jumped 3.08% today.
NB Split (NBF) soared 34.00% to $3.35. 5Banc Split (FBS.B) jumped 30.00%. Premium Income (PIC.A) higher by 29.44%. Dividend 15 Split (DF) gained 17.57% to $2.61.
Savanna Enegy Serv. (SVY) tanked 9.63% to $4.88. Gluskin Sheff & Ass. (GS) sank 6.76% to $8.00. Livingston Int’l. inc. (LIV.UN) down 6.70% to $3.90. Euitable Gr. (ETC) lower by 6.11% to $10.29.
Kicking off the Canadian bank earnings season, Toronto-Dominion Bank (TD) reported that its net income fell to C$712 million in the first quarter ended Jan. 31, down from C$970 million a year earlier. Adjusted net income fell to C$1.14 billion compared with C$1.06 billion a year earlier.
The bank reported earnings of 82 cents a share, compared with C$1.33 cents a share a year ago. It said that it expects "a worsening economic environment." Shares of the bank closed up 1.7%
Elsewhere in the sector, Royal Bank of Canada (RY) gained 5.3% and the Bank of Nova Scotia (BNS) added 4.2%. Bank of Montreal (BMO) slid 0.9%.
Roger Biduk;
The March crude contract on the New York Mercantile Exchange
soared 6.36% to US$42.50 a barrel and the S&P/TSX Energy Index was 1.87% higher. Natural gas lost 3.93% to $4.03.
Phoenis Tech. Income Fund (PHX.UN) soared 14.65 to $5.79. Zargon Energy Tr. (ZAR.UN) jumped 11.11% to $15.40. Verenex Energy Tr. (VNX) rose 10.64% to $7.80. Trinidad Drilling (TDG) gained 7.59% to $2.55. Petrobank Energy & Res. (PBG) up 6.90% to $19.22.
NuVista Energy (NVA) sank 8.45% to $5.20. Eveready (EIS) down 6.94% to $3.35.
The S&P/TSX Capped Industrial Index dropped 1.34%.
West Fraser Timer (WFT) jumped 8.59% to $26.17.
The S&P/TSX Capped Information Technology Index rose 1.42% and the S&P/TSX Capped Telecom Services Index was down .44%.
Aastra Tech. (AAH) soared 46.70% to $13.76. Evertz Tech. (ET) jumped 13.78% to $11.15. Gennum (GND) gained 10.53% to $4.20. Torstar (TS.B) up 5.10% to $6.39.
In the mining sector, several producers' shares pared earlier gains or registered losses as gold prices slid.
The S&P/TSX Global Gold Index lost .21% as the April bullion contract in New York lost $3.30 to US$966.20 an ounce.
Jaguar Mining (JAG) lost 5.24% to $6.87.
Moto Goldmines (MGL) soared 29.17% to $3.10. US Gold Corp. (UXG) jumped 5.93% to $2.50. Gabriel Res. (GBU) rose 5.51% to $2.68.
Shares in Yamana Gold Inc. (YRI) ended 1.9% higher. Shares of Equinox Minerals Limited (EQN) fell 2.3%. Barrick Gold Corp. (ABX) closed 0.4% lower.
Roger Biduk;
Shares of Agrium Inc. (AGU), a producer of fertilizers and other agricultural products, tumbled 8.5% after it launched an unsolicited bid Wednesday for CF Industries Holdings (US:CF), which itself is making a hostile bid for another firm, Terra Industries (US:TRA).
Calgary-based Agrium said it's bidding $3.6 billion of cash and stock for CF Industries Holdings in a deal that would add CF's North American nitrogen, phosphate and crop nutrient distribution assets to Agrium's global wholesale and retail capabilities.
The S&P/TSX Capped Utilities Index gained .90%.
The S&P/TSX Consumer Discretionary Index was .54% lower and the S&P/TSX Consumer Staples Index was down .52%.
Richelieu Hardware (RCH) jumped 6.20% to $16.97.
Maple Leaf Foods (MFI) sank 7.21% to $8.75.
The S&P/TSX Capped Diversified Metals & Mining Index gained .47% as aluminum gained 1.65%, copper gained 2.47% and silver dropped .86% to $13.91.
Sherritt Int’l. (S) tanked 18.92% to $2.10. Osisko Mining (OSK) sank 5.38% to $4.40. Jaguar Mining (JAG) lower by 5.24% to $6.87.
Ivanhoe Mines (IVN) jumping 10.33% to $5.66. Timminco (TIM) higher by 9.86% to $3.12. Hanfeng Evergreen (HF) up 8.24% to $6.96. Altus Min. (ALS) rising 6.04% to $6.50.
Shares of Bombardier Inc. (BBD.B) fell 1.4%. The company said Wednesday that Bombardier Transportation has been awarded a contract in Australia by the Victorian government to build 32 rail cars valued at about $95 million.
Some energy companies reversed higher as oil prices rallied more than 6% to $42.50 a barrel.
Shares of Talisman Energy Inc. (TLM) ended 3.6% higher and shares of Suncor Energy Inc. (SU) gained 1.5%.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 1.34%.
QLT (QLT) jumped 7.32% to $2.20. Atrium Innovastions (ATB) higher by 6.50% to $14.75.
In the service sector, Hartco Inc. Fund (HCI.UN) tanked to 23.08% to $2.30. Guardian Capital GR. (GCG.A) sank 6.25% to $3.00. Ritchie Bros. Auctioneers (RBA) down 6.16% to $19.20. Weston Gr. (WN) down 5.26% to $59.85.
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www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
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