Roger Biduk;
Toronto's S&P/TSX composite index jumped 452.16 points Monday to 8,958.51. The Canadian benchmark index is up 18.4 per cent since its March 9 trough, led by a 34 per cent rise in the financial sector. Ten of the eleven sectors I follow on the TSX were higher.
The TSX Venture Exchange rose 22.23 points to 924.03.
The Canadian dollar gained 1.12 cents to 81.8 cents US as the American dollar weakened on worries about inflation resulting from the taxpayer-supported plan to remove up to US$1 trillion in bad loans from the banks' balance sheets.
ETFs led the way.
Horizons BetaPro S&P/TSX Capped Financial Bull (HFU) +16.78%. Horizons BetaPro MSCI Emerging Markets Bull (HJU) +16.68%. Horizons BetaPro S&P 500 Bull (HSU) +14.09%.
The S&P/TSX Capped Health Care Index was higher by 1.21%.
In the service sector:
Contrans Income Fund (CSS.UN) +9.86% to $3.90. Transcontinental Inc. (TCL.A) +9.24% to $6.15. Canadian Pacific Railway Limit (CP) +7.18% to $39.55. Great Canadian Gaming Corporat (GC) +6.27% to $2.71. WestJet Airlines Ltd. (WJA) +5.96% to $11.55.
ACE Aviation Holdings Inc. (ACE.A) -7.38% to $6.02.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange gained 3.32% to $53.80 and natural gas rose 1.16% to $4.43 as the S&P/TSX Energy Index jumped 7.41%.
Energy stocks took off after Suncor Energy Inc. (TSX:SU) and Petro-Canada (TSX:PCA) announced an all-stock combination into a company valued at $43.3 billion. The new enterprise is to operate under the Suncor name with existing Petro-Canada shareholders owning 40 per cent. Suncor shares slipped 16 cents to $30.74 while Petro-Canada soared $6.05 or 20 per cent to $35.70.
Galleon Energy Inc. (GO) +20.41% to $4.13. Cathedral Energy Services Inco (CET.UN) +18.64% to $3.50. Trinidad Drilling Ltd. (TDG) +13.88% to $3.20. Progress Energy Resources Corp (PRQ) +11.76% to $10.64. Talisman Energy Inc. (TLM) +11.31% to $14.47.
The gold sector was the only decliner. The S&P/TSX Global Gold Index lost 0.82% as the April bullion contract in New York sank $3.70 to US$952.50 an ounce.
Banro Corporation (BAA) +18.05% to $2.42. European Goldfields Limited (EGU) +10.33% to $3.63. First Quantum Minerals Ltd. (FM) +9.38% to $42.22. Imperial Metals Corporation (III) +7.21% to $3.27.
Alamos Gold Inc. (AGI) -5.06% to $8.26. Vista Gold Corp. (VGZ) -5.06% to $2.44.
Statistics Canada, meanwhile, reported that its gauge of future economic activity fell 1.1 per cent in February after a 0.9 per cent decrease in January.
The S&P/TSX Consumer Discretionary Index was 4.00% higher and the S&P/TSX Consumer Staples Index gained 1.43%.
Richards Packaging Income Fund (RPI.UN) +12.36% $3.00. Linamar Corporation (LNR) +11.74% to $2.57. Cascades Inc. (CAS) +10.10% to $2.18. Gildan Activewear Inc. (GIL) +8.57% to $10.26. Supremex Income Fund (SXP.UN) +7.14% to $2.25.
Roger Biduk;
S&P/TSX Capped Diversified Metals & Mining Index soared 9.13% as aluminum fell 0.75%, copper gained 2.51% and silver was 0.25% higher to $13.88.
Athabasca Potash Inc. (API) +16.44% to $2.55. Sherritt International Corpora (S) +16.03% to $2.75. Teck Cominco Limited (TCK.B) +12.93% to $6.64. Timminco Limited (TIM) +10.77% to $2.16. Quadra Mining Ltd. (QUA) +9.82% to $5.48.
The S&P/TSX Capped Information Technology Index rose 3.72% and the S&P/TSX Capped Telecom Services Index gained 1.96%.
5N Plus Inc. (VNP) +8.39% to $5.17. Research in Motion Limited (RIM) +7.21% to $55.00. Torstar Corporation (TS.B) +6.40% to $5.15. CGI Group Inc. (GIB.A) +5.68% to $9.68. Matrikon Inc. (MTK) +5.26% to $2.00.
The S&P/TSX Capped Financial Index soared 8.93%.
Financial 15 Split Corp. II (FFN) +30.42% to $3.73. CIX Split Corp. (CXC) +28.66% to $2.11. Fairborne Energy Ltd. (FEL) +20.67% to $3.62. NB Split Corp. (NBF) +20.00% to $6.00. Homburg Invest Inc. (HII.A) +18.10% to $10.83.
Melcor Developments Ltd. (MRD) -6.19% to $4.55. DPF India Opportunities Fund (DPF.UN)
-5.19% to $2.56.
The S&P/TSX Capped Utilities Index gained 1.36%.
Canadian Hydro Developers Inc (KHD) +7.75% to $2.78.
S&P/TSX Capped Industrial Index jumped 5.34%. Bombardier Inc. (BBD.B) +7.14% to $3.00. Sino-Forest Corporation (TRE) +6.83% to $7.98. Toromont Industries Ltd. (TIH) +6.29% to $24.15. Churchill Corporation (The) (CUQ) +6.22% to $8.20. Martinrea International Inc. (MRE) +5.78% to $2.38.
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Tuesday, March 24, 2009
Friday, March 20, 2009
Roger Biduk; Bay Street Lower After Eight Day Rally
Roger Biduk;
The Toronto stock market closed lower Friday as investors took profits from a solid, eight-day rally.
Toronto's S&P/TSX composite index fell 184.14 points to 8,506.35. But the main index is still up 935 points, or 12.4 per cent over the eight day runup that started Mar. 10, led by gains in financial stocks.
The TSX Venture Exchange headed down 1.77 points to 901.8.
The S&P/TSX Consumer Discretionary Index was 1.43% lower and the S&P/TSX Consumer Staples Index lost .44%.
ZCL Composites Inc. (ZCL) +6.99% to $4.90.
Fortress Paper Ltd. (FTP) -10.37% to $5.10. Gildan Activewear Inc. (GIL) -6.25% to $9.45.
However, some analysts questioned why the rally happened in the first place and held out minimal hope of the gains sticking.
S&P/TSX Capped Diversified Metals & Mining Index lost 4.11% as aluminum jumped 5.56%, copper dropped .64% and silver was 2.22% higher to $13.82.
Forsys Metals Corp. (FSY) +16.87% to $4.71. First Uranium Corporation (FIU) +16.18% to $6.39. Fronteer Development Group Inc (FRG) +8.47% to $3.20.
Inmet Mining Corporation (IMN) -8.14% to $33.65. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Quadra Mining Ltd. (QUA) -6.90% to $4.99. Gerdau AmeriSteel Corporation (GNA)
-5.19% to $3.84.
Roger Biduk;
The Canadian dollar was down 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion after declining 5.2% in December - their largest monthly decline in more than 15 years. Sales rose in five of eight retail sectors, led by a 3.8 per cent increase in the automotive sector.
The April crude contract on the New York Mercantile Exchange dropped .55% to $51.06 and natural gas rose 1.53% to $4.31 as the S&P/TSX Energy Index tanked 4.11%.
Cathedral Energy Services Inco (CET.UN) -8.39% to $2.95. Gran Tierra Energy Inc. (GTE)
-8.06% to $3.31. Addax Petroleum Corporation (AXC) -7.67% to $26.59. Suncor Energy Inc. (SU) -7.49% to $30.90. Pacific Rubiales Energy Corp. (PRE) -7.16% to $5.19.
It was the first time crude has ended the week above $50 since last year as oil and other commodities have surged on hopes the Fed scheme will blunt the effects of the recession. Suncor Inc. (TSX:SU) moved down $2.50 to C$30.90 and Encana Corp. (TSX:ECA) fell $1.67 to $51.35.
The S&P/TSX Global Gold Index rose .15% as the April bullion contract in New York sank $2.60 to US$956.20 an ounce.
Keegan Resources Inc. (KGN) +5.12% to $2.67. International Minerals Corpora (IMZ) +5.23% to $3.42. European Goldfields Limited (EGU) +5.79% to $3.29.
NovaGold Resources Inc (NG) -7.79% to $2.96. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Greystar Resources Ltd. (GSL) -5.42% to $4.01.
Kinross Gold Corp. (TSX:K) is staking a claim in the diamond business by paying US$150 million for an indirect interest in the Diavik diamond mine in the Northwest Territories and a 20 per cent stake in Harry Winston Diamond Corp. (TSX:HW). Kinross shares edged 86 cents lower to C$22.28 while Harrry Winston shares soared 80 cents or 35 per cent to $3.08.
Roger Biduk;
The S&P/TSX Capped Information Technology Index lost .48% and the S&P/TSX Capped Telecom Services Index lost 1.56%.
Tundra Semiconductor Corporati (TUN) +46.58% to $4.50. DALSA Corporation (DSA) +10.59% to $4.70. Celestica Inc. (CLS) +7.08% to $3.78. AXIA NetMedia Corporation (AXX) +7.33% to $2.05.
The S&P/TSX Capped Health Care Index was lower by .86%.
Biovail Corporation (BVF) -5.01% to $13.84.
In the service sector:
Forzani Group Ltd. (The) (FGL) +6.41% to $9.63. CanWel Building Materials Inco (CWX.UN) +5.53% to $2.10.
Transcontinental Inc. (TCL.A) -9.19% to $5.63. WestJet Airlines Ltd. (WJA) -6.44% to $10.90.
Roger Biduk;
The S&P/TSX Capped Financial Index lost 1.87%.
Priszm Income Fund (QSR.UN) +17.65% to $2.00. Fairborne Energy Ltd. (FEL) +8.30% to $3.00. Uranium Participation Corporat (U) +6.00% to $6.89.
Brookfield Properties Corporat (BPO) -9.92% to $6.45. Sun Life Financial Inc. (SLF) -7.45% to $20.75. Primaris Retail Real Estate In (PMZ.UN) -7.12% to $8.35. Sentry Select Primary Metals C (PME) -6.82% to $4.10. Kingsway Financial Services In (KFS) -6.67% to $2.10.
The S&P/TSX Capped Utilities Index gained .63%.
Fortis Inc. (FTS) +6.58% to $23.48.
S&P/TSX Capped Industrial Index dropped 2.60%. Bombardier Inc. (BBD.A) -6.62% to $2.82. Newalta Inc. (NAL) -6.42% to $2.48. ATS Automation Tooling Systems (ATA) -5.36% to $3.71. Sino-Forest Corporation (TRE) -5.08% to $7.47.
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The Toronto stock market closed lower Friday as investors took profits from a solid, eight-day rally.
Toronto's S&P/TSX composite index fell 184.14 points to 8,506.35. But the main index is still up 935 points, or 12.4 per cent over the eight day runup that started Mar. 10, led by gains in financial stocks.
The TSX Venture Exchange headed down 1.77 points to 901.8.
The S&P/TSX Consumer Discretionary Index was 1.43% lower and the S&P/TSX Consumer Staples Index lost .44%.
ZCL Composites Inc. (ZCL) +6.99% to $4.90.
Fortress Paper Ltd. (FTP) -10.37% to $5.10. Gildan Activewear Inc. (GIL) -6.25% to $9.45.
However, some analysts questioned why the rally happened in the first place and held out minimal hope of the gains sticking.
S&P/TSX Capped Diversified Metals & Mining Index lost 4.11% as aluminum jumped 5.56%, copper dropped .64% and silver was 2.22% higher to $13.82.
Forsys Metals Corp. (FSY) +16.87% to $4.71. First Uranium Corporation (FIU) +16.18% to $6.39. Fronteer Development Group Inc (FRG) +8.47% to $3.20.
Inmet Mining Corporation (IMN) -8.14% to $33.65. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Quadra Mining Ltd. (QUA) -6.90% to $4.99. Gerdau AmeriSteel Corporation (GNA)
-5.19% to $3.84.
Roger Biduk;
The Canadian dollar was down 0.12 of a cent to 80.68 cents US after Statistics Canada said that retail sales rose 1.9 per cent in January to $33.7 billion after declining 5.2% in December - their largest monthly decline in more than 15 years. Sales rose in five of eight retail sectors, led by a 3.8 per cent increase in the automotive sector.
The April crude contract on the New York Mercantile Exchange dropped .55% to $51.06 and natural gas rose 1.53% to $4.31 as the S&P/TSX Energy Index tanked 4.11%.
Cathedral Energy Services Inco (CET.UN) -8.39% to $2.95. Gran Tierra Energy Inc. (GTE)
-8.06% to $3.31. Addax Petroleum Corporation (AXC) -7.67% to $26.59. Suncor Energy Inc. (SU) -7.49% to $30.90. Pacific Rubiales Energy Corp. (PRE) -7.16% to $5.19.
It was the first time crude has ended the week above $50 since last year as oil and other commodities have surged on hopes the Fed scheme will blunt the effects of the recession. Suncor Inc. (TSX:SU) moved down $2.50 to C$30.90 and Encana Corp. (TSX:ECA) fell $1.67 to $51.35.
The S&P/TSX Global Gold Index rose .15% as the April bullion contract in New York sank $2.60 to US$956.20 an ounce.
Keegan Resources Inc. (KGN) +5.12% to $2.67. International Minerals Corpora (IMZ) +5.23% to $3.42. European Goldfields Limited (EGU) +5.79% to $3.29.
NovaGold Resources Inc (NG) -7.79% to $2.96. First Quantum Minerals Ltd. (FM) -7.70% to $38.60. Greystar Resources Ltd. (GSL) -5.42% to $4.01.
Kinross Gold Corp. (TSX:K) is staking a claim in the diamond business by paying US$150 million for an indirect interest in the Diavik diamond mine in the Northwest Territories and a 20 per cent stake in Harry Winston Diamond Corp. (TSX:HW). Kinross shares edged 86 cents lower to C$22.28 while Harrry Winston shares soared 80 cents or 35 per cent to $3.08.
Roger Biduk;
The S&P/TSX Capped Information Technology Index lost .48% and the S&P/TSX Capped Telecom Services Index lost 1.56%.
Tundra Semiconductor Corporati (TUN) +46.58% to $4.50. DALSA Corporation (DSA) +10.59% to $4.70. Celestica Inc. (CLS) +7.08% to $3.78. AXIA NetMedia Corporation (AXX) +7.33% to $2.05.
The S&P/TSX Capped Health Care Index was lower by .86%.
Biovail Corporation (BVF) -5.01% to $13.84.
In the service sector:
Forzani Group Ltd. (The) (FGL) +6.41% to $9.63. CanWel Building Materials Inco (CWX.UN) +5.53% to $2.10.
Transcontinental Inc. (TCL.A) -9.19% to $5.63. WestJet Airlines Ltd. (WJA) -6.44% to $10.90.
Roger Biduk;
The S&P/TSX Capped Financial Index lost 1.87%.
Priszm Income Fund (QSR.UN) +17.65% to $2.00. Fairborne Energy Ltd. (FEL) +8.30% to $3.00. Uranium Participation Corporat (U) +6.00% to $6.89.
Brookfield Properties Corporat (BPO) -9.92% to $6.45. Sun Life Financial Inc. (SLF) -7.45% to $20.75. Primaris Retail Real Estate In (PMZ.UN) -7.12% to $8.35. Sentry Select Primary Metals C (PME) -6.82% to $4.10. Kingsway Financial Services In (KFS) -6.67% to $2.10.
The S&P/TSX Capped Utilities Index gained .63%.
Fortis Inc. (FTS) +6.58% to $23.48.
S&P/TSX Capped Industrial Index dropped 2.60%. Bombardier Inc. (BBD.A) -6.62% to $2.82. Newalta Inc. (NAL) -6.42% to $2.48. ATS Automation Tooling Systems (ATA) -5.36% to $3.71. Sino-Forest Corporation (TRE) -5.08% to $7.47.
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Thursday, March 19, 2009
Roger Biduk; Bay Street Rises on Commodities for Eighth Session
Roger Biduk;
The Toronto stock market's March rally continued for an eighth session Thursday as commodity stocks took off following the latest moves by the U.S. Federal Reserve to break a logjam in lending and reduce borrowing rates.
Toronto's S&P/TSX composite index rose 61.39 points to 8,690.49, adding up to a surge of more than 1,100 points or 15 per cent since the rally was sparked last week by positive earnings news from the U.S. financial sector.
The TSX Venture Exchange was up 37.86 points to 903.57.
The Canadian dollar was well off early highs but still closed up 0.56 cent to 80.8 cents US on top of Wednesday's advance of almost one and a half cents US because of weakness in the American currency. The greenback fell after the Fed announced its plan, which includes buying up to US$300 billion in long-term government bonds during the next six months.
The S&P/TSX Consumer Discretionary Index was .68% lower and the S&P/TSX Consumer Staples Index lost 2.48%.
S&P/TSX Capped Diversified Metals & Mining Index soared 8.24% as aluminum jumped 5.56, copper rose 5.30% and silver was 13.28% higher to $13.52.
Forsys Metals Corp. (FSY) +23.62% to $4.03. First Uranium Corporation (FIU) +20.88% to $5.50.Teck Cominco Limited (TCK.B) +18.40% to $5.92. Quadra Mining Ltd. (QUA) +14.04% to $5.36. First Majestic Silver Corp. (FR) +12.78% to $2.03
Timminco Limited (TIM) -7.52% to $2.09. Consolidated Thompson Iron Min (CLM)
-5.35% to $2.30.
Roger Biduk;
Statistics Canada says Canada's annual inflation rate rose to 1.4 per cent in February from 1.1 per cent the previous month. This was the first increase in the cost of living in five months.
The S&P/TSX Capped Information Technology Index gained .05% and the S&P/TSX Capped Telecom Services Index lost 1.04%.
Bridgewater Systems Corporatio (BWC) -10.26% to $3.50. Gennum Corporation (GND) -6.63% to $3.52. Celestica Inc. (CLS) -5.11% to $3.53.
As the rally in Toronto continued, leadership switched from the financial sector, which surged 28% over seven sessions, to commodity stocks.
The S&P/TSX Capped Health Care Index was higher by .98%.
In the service sector:
Westshore Terminals Income Fund (WTE.UN) +9.30% to $9.40. Transat A.T. Inc (TRZ.B) +5.07% to $7.04.
Roger Biduk;
Hopes the Fed action will also blunt the effects of a global recession sent oil prices higher.
The April crude contract on the New York Mercantile Exchange soared 7.21% to $51.61 and natural gas jumped 12.82% to $4.24 as the S&P/TSX Energy Index gained 4.28%.
Trinidad Drilling Ltd. (TDG) +15.16% to $2.81. Cathedral Energy Services Inco (CET.UN) +14.18% to $3.22. Crew Energy Inc. (CR) +14.02% to $4.23. Trican Well Service Ltd. (TCW) +10.58% to $6.90. Vero Energy Inc. (VRO) +9.68% to $3.40.
The dramatic move by the U.S. central bank stoked worries about higher inflation and that helped send gold higher.
The S&P/TSX Global Gold Index rose 3.59% as the April bullion contract in New York soared $69.70 to US$958.80 an ounce.
US Gold Corporation (UXG) +18.62% to $2.93. Detour Gold Corporation (DGC) +17.23% to $10.82. Banro Corporation (BAA) +15.43% to $2.02. Keegan Resources Inc. (KGN) +13.39% to $2.54. Vista Gold Corp. (VGZ) +11.86% to $2.64.
The S&P/TSX Capped Financial Index lost 2.87%.
Birchcliff Energy Ltd. (BIR) +18.32% to $6.33. Claymore Natural Gas Commodity (GAS) +12.63% to $9.63. Sentry Select Primary Metals C (PME) +10.05% to $4.38. Precious Metals and Mining Tru (MMP.UN) +9.43% to $5.80. Canadian Helicopters Income Fu (CHL.UN) +9.02% to $7.25.
Premium Income Corporation (PIC.A) -16.67% to $2.50. Kingsway Financial Services In (KFS)
-10.00% to $2.25. Brookfield Properties Corporat (BPO) -8.79% to $7.16. Brookfield Asset Management In (BAM.A) -7.38% to $16.81. Power Financial Corporation (PWF) -6.62% to $18.33.
AbitibiBowater Inc. (TSX:ABH) shares plummeted 15 cents or 17.8 per cent to 69 cents Thursday after a report said U.S. banks were balking at a subsidiary's debt restructuring plan to avoid seeking bankruptcy protection.
The S&P/TSX Capped Utilities Index lost .92%.
S&P/TSX Capped Industrial Index dropped .86%.
Canfor Corporation (CFP) -6.64% to $4.50.
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The Toronto stock market's March rally continued for an eighth session Thursday as commodity stocks took off following the latest moves by the U.S. Federal Reserve to break a logjam in lending and reduce borrowing rates.
Toronto's S&P/TSX composite index rose 61.39 points to 8,690.49, adding up to a surge of more than 1,100 points or 15 per cent since the rally was sparked last week by positive earnings news from the U.S. financial sector.
The TSX Venture Exchange was up 37.86 points to 903.57.
The Canadian dollar was well off early highs but still closed up 0.56 cent to 80.8 cents US on top of Wednesday's advance of almost one and a half cents US because of weakness in the American currency. The greenback fell after the Fed announced its plan, which includes buying up to US$300 billion in long-term government bonds during the next six months.
The S&P/TSX Consumer Discretionary Index was .68% lower and the S&P/TSX Consumer Staples Index lost 2.48%.
S&P/TSX Capped Diversified Metals & Mining Index soared 8.24% as aluminum jumped 5.56, copper rose 5.30% and silver was 13.28% higher to $13.52.
Forsys Metals Corp. (FSY) +23.62% to $4.03. First Uranium Corporation (FIU) +20.88% to $5.50.Teck Cominco Limited (TCK.B) +18.40% to $5.92. Quadra Mining Ltd. (QUA) +14.04% to $5.36. First Majestic Silver Corp. (FR) +12.78% to $2.03
Timminco Limited (TIM) -7.52% to $2.09. Consolidated Thompson Iron Min (CLM)
-5.35% to $2.30.
Roger Biduk;
Statistics Canada says Canada's annual inflation rate rose to 1.4 per cent in February from 1.1 per cent the previous month. This was the first increase in the cost of living in five months.
The S&P/TSX Capped Information Technology Index gained .05% and the S&P/TSX Capped Telecom Services Index lost 1.04%.
Bridgewater Systems Corporatio (BWC) -10.26% to $3.50. Gennum Corporation (GND) -6.63% to $3.52. Celestica Inc. (CLS) -5.11% to $3.53.
As the rally in Toronto continued, leadership switched from the financial sector, which surged 28% over seven sessions, to commodity stocks.
The S&P/TSX Capped Health Care Index was higher by .98%.
In the service sector:
Westshore Terminals Income Fund (WTE.UN) +9.30% to $9.40. Transat A.T. Inc (TRZ.B) +5.07% to $7.04.
Roger Biduk;
Hopes the Fed action will also blunt the effects of a global recession sent oil prices higher.
The April crude contract on the New York Mercantile Exchange soared 7.21% to $51.61 and natural gas jumped 12.82% to $4.24 as the S&P/TSX Energy Index gained 4.28%.
Trinidad Drilling Ltd. (TDG) +15.16% to $2.81. Cathedral Energy Services Inco (CET.UN) +14.18% to $3.22. Crew Energy Inc. (CR) +14.02% to $4.23. Trican Well Service Ltd. (TCW) +10.58% to $6.90. Vero Energy Inc. (VRO) +9.68% to $3.40.
The dramatic move by the U.S. central bank stoked worries about higher inflation and that helped send gold higher.
The S&P/TSX Global Gold Index rose 3.59% as the April bullion contract in New York soared $69.70 to US$958.80 an ounce.
US Gold Corporation (UXG) +18.62% to $2.93. Detour Gold Corporation (DGC) +17.23% to $10.82. Banro Corporation (BAA) +15.43% to $2.02. Keegan Resources Inc. (KGN) +13.39% to $2.54. Vista Gold Corp. (VGZ) +11.86% to $2.64.
The S&P/TSX Capped Financial Index lost 2.87%.
Birchcliff Energy Ltd. (BIR) +18.32% to $6.33. Claymore Natural Gas Commodity (GAS) +12.63% to $9.63. Sentry Select Primary Metals C (PME) +10.05% to $4.38. Precious Metals and Mining Tru (MMP.UN) +9.43% to $5.80. Canadian Helicopters Income Fu (CHL.UN) +9.02% to $7.25.
Premium Income Corporation (PIC.A) -16.67% to $2.50. Kingsway Financial Services In (KFS)
-10.00% to $2.25. Brookfield Properties Corporat (BPO) -8.79% to $7.16. Brookfield Asset Management In (BAM.A) -7.38% to $16.81. Power Financial Corporation (PWF) -6.62% to $18.33.
AbitibiBowater Inc. (TSX:ABH) shares plummeted 15 cents or 17.8 per cent to 69 cents Thursday after a report said U.S. banks were balking at a subsidiary's debt restructuring plan to avoid seeking bankruptcy protection.
The S&P/TSX Capped Utilities Index lost .92%.
S&P/TSX Capped Industrial Index dropped .86%.
Canfor Corporation (CFP) -6.64% to $4.50.
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Wednesday, March 18, 2009
Roger Biduk; Seven in a Row for Bay Street
Roger Biduk;
Toronto's S&P/TSX composite index closed 69.5 points higher to 8,629.1, up for a seventh session in a row and rising 15 per cent during that time.
The TSX Venture Exchange was ahead 12.59 points to 865.71.
The CDN$ also turned positive, up 1.43 cents to 80.24 cents US as the American currency weakened following the Fed announcement. It surged as high as 80.45 cents US.
As I’ve been saying for the last two weeks, the bear market rally’s here and is being led by the financials.
ETF’s in the financial sector in Canada & the U.S. have gone through the roof.
If you’re unfortunately just sitting in mutual funds or are with an advisor that doesn’t (or can’t) trade your account up to several times a day you probably haven’t noticed much, especially if you’re not in the right industry sector.
It’s been an incredible, volatile market and a great trading market to make money. In many cases I’ve been trading the same stock or ETF several times a day in the same client accounts and the profits have been incredible.
It should be the same as the market soon becomes overbought and profit-taking comes in to drive the market lower. That’s the time to buy leveraged ETFs that soar as the markets tank.
The Toronto rally has been especially beneficial for the financial sector (as you know the only sector I’ve been recommending but others are starting to also look good), which has soared 29.4 per cent over the last seven sessions.
The S&P/TSX Capped Financial Index gained 1.23%.
Global Uranium Fund Inc. (GUR) +22.29% to $2.14. Homburg Invest Inc. (HII.B) +21.50% to $7.29. Global 45 Split Corp. (GFV) +15.20% to $2.88. Copernican World Banks Split I (CBW.PR.A) +14.34% to $2.95. US Financial 15 Split Corp. (FTU.PR.A) +13.67% to $3.41.
EnerVest Energy&Oil Sands Tota (EOS.UN) -9.77% to $3.51. Kingsway Financial Services In (KFS) -9.42% to $2.50. Alaris Royalty Corp. (AD) -9.09% to $4.50. Dividend Growth Split Corp. (DGS.PR.A) -8.98% to $8.01. Connor, Clark & Lunn Global Fi (GFT.UN) -7.09% to $3.93.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange lost 2.07% to $48.14 and natural gas sank 3.17% to $3.81 as the S&P/TSX Energy Index dropped 2.05%.
West Energy Ltd. (WTL) +10.70% to $2.38. North American Energy Partners (NOA) +10.53% to $3.15. Pacific Rubiales Energy Corp. (PRE) +7.65% to $5.49. Crew Energy Inc. (CR) +6.92% to $3.71. Addax Petroleum Corporation (AXC) +6.43% to $27.64.
Verenex Energy Inc. (VNX) -9.87% to $8.40. Calfrac Well Services Ltd. (CFW) -6.41% to $6.57. Suncor Energy Inc. (SU) -6.17% to $31.20.
Libya's National Oil Company says it will buy Canada's Verenex Energy Inc., (TSX:VNX), matching a US$394-million dollar bid by a subsidiary of the China National Petroleum Corp, although the Calgary company says it hasn't been able to confirm the report. Verenex has operations in Libya's Area-47, a region estimated to hold roughly 2.15 billion barrels in crude oil reserves. Its shares dropped 92 cents to C$8.40.
The S&P/TSX Global Gold Index soared 8.91% even though the April bullion contract in New York tanked $27.70 to US$889.10 an ounce.
Allied Nevada Gold Corp. (ANV) +16.00% to $6.09. US Gold Corporation (UXG) +15.96% to $2.47. Vista Gold Corp. (VGZ) +14.85% to $2.32. Kinross Gold Corporation (K.WT.B) +12.32% to $3.10. Minefinders Corporation Ltd. (MFL.WT) +11.76% to $4.750.
Silver Wheaton Corp. (SLW) +11.29% to $8.97. Red Back Mining Inc. (RBI) +9.95% to $7.18. Pan American Silver Corp. (PAA) +8.21% to $19.63. Forsys Metals Corp. (FSY) +6.89% to $3.26.
Quadra Mining Ltd. (QUA) -5.43% to $4.70.
Allied Nevada Gold Corp. (TSX:ANV), which is working to get the Hycroft project into commercial production, says its annual net loss increased last year to US$79.6 million, up from $11.3 million in 2007. The company reported no revenues for last year or the prior year and its shares rose 84 cents at $6.09.
Roger Biduk;
The S&P/TSX Capped Utilities Index gained .58%.
The S&P/TSX Consumer Discretionary Index was 1.75% higher and the S&P/TSX Consumer Staples Index gained 1.07%.
ZCL Composites Inc. (ZCL) +11.99% to $4.95. Gildan Activewear Inc. (GIL) +5.85% to $9.95.
Linamar Corporation (LNR) -8.70% to $2.10.
In Canadian economic news, wholesale sales declined 4.2 per cent to $41.1 billion in January. Statistics Canada said the drop was due largely to lower activity in the automotive products sector.
S&P/TSX Capped Diversified Metals & Mining Index was lower by .13% as aluminum gained .80%, copper dropped .44% and silver was 5.80% lower to $11.94.
Shares in Timminco Ltd. (TSX:TIM) slipped nine cents to $2.26 after it said Tuesday it will temporarily cut jobs and reduced production of silicon due to difficult market conditions and reduced demand.
S&P/TSX Capped Industrial Index rose .63%.
The S&P/TSX Capped Health Care Index was lower by 2.79%.
In the service sector:
Altus Group Income Fund (AIF.UN) +14.16% to $6.45. Mullen Group Income Fund (MTL.UN) +8.31% to $10.82. Transcontinental Inc. (TCL.A) +6.38% to $6.50. Empire Company Ltd. (EMP.A) +5.34% to $53.09. MacDonald, Dettwiler and Assoc (MDA) +5.05% to $23.32.
The S&P/TSX Capped Information Technology Index gained 1.29% and the S&P/TSX Capped Telecom Services Index lost .29%.
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Toronto's S&P/TSX composite index closed 69.5 points higher to 8,629.1, up for a seventh session in a row and rising 15 per cent during that time.
The TSX Venture Exchange was ahead 12.59 points to 865.71.
The CDN$ also turned positive, up 1.43 cents to 80.24 cents US as the American currency weakened following the Fed announcement. It surged as high as 80.45 cents US.
As I’ve been saying for the last two weeks, the bear market rally’s here and is being led by the financials.
ETF’s in the financial sector in Canada & the U.S. have gone through the roof.
If you’re unfortunately just sitting in mutual funds or are with an advisor that doesn’t (or can’t) trade your account up to several times a day you probably haven’t noticed much, especially if you’re not in the right industry sector.
It’s been an incredible, volatile market and a great trading market to make money. In many cases I’ve been trading the same stock or ETF several times a day in the same client accounts and the profits have been incredible.
It should be the same as the market soon becomes overbought and profit-taking comes in to drive the market lower. That’s the time to buy leveraged ETFs that soar as the markets tank.
The Toronto rally has been especially beneficial for the financial sector (as you know the only sector I’ve been recommending but others are starting to also look good), which has soared 29.4 per cent over the last seven sessions.
The S&P/TSX Capped Financial Index gained 1.23%.
Global Uranium Fund Inc. (GUR) +22.29% to $2.14. Homburg Invest Inc. (HII.B) +21.50% to $7.29. Global 45 Split Corp. (GFV) +15.20% to $2.88. Copernican World Banks Split I (CBW.PR.A) +14.34% to $2.95. US Financial 15 Split Corp. (FTU.PR.A) +13.67% to $3.41.
EnerVest Energy&Oil Sands Tota (EOS.UN) -9.77% to $3.51. Kingsway Financial Services In (KFS) -9.42% to $2.50. Alaris Royalty Corp. (AD) -9.09% to $4.50. Dividend Growth Split Corp. (DGS.PR.A) -8.98% to $8.01. Connor, Clark & Lunn Global Fi (GFT.UN) -7.09% to $3.93.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange lost 2.07% to $48.14 and natural gas sank 3.17% to $3.81 as the S&P/TSX Energy Index dropped 2.05%.
West Energy Ltd. (WTL) +10.70% to $2.38. North American Energy Partners (NOA) +10.53% to $3.15. Pacific Rubiales Energy Corp. (PRE) +7.65% to $5.49. Crew Energy Inc. (CR) +6.92% to $3.71. Addax Petroleum Corporation (AXC) +6.43% to $27.64.
Verenex Energy Inc. (VNX) -9.87% to $8.40. Calfrac Well Services Ltd. (CFW) -6.41% to $6.57. Suncor Energy Inc. (SU) -6.17% to $31.20.
Libya's National Oil Company says it will buy Canada's Verenex Energy Inc., (TSX:VNX), matching a US$394-million dollar bid by a subsidiary of the China National Petroleum Corp, although the Calgary company says it hasn't been able to confirm the report. Verenex has operations in Libya's Area-47, a region estimated to hold roughly 2.15 billion barrels in crude oil reserves. Its shares dropped 92 cents to C$8.40.
The S&P/TSX Global Gold Index soared 8.91% even though the April bullion contract in New York tanked $27.70 to US$889.10 an ounce.
Allied Nevada Gold Corp. (ANV) +16.00% to $6.09. US Gold Corporation (UXG) +15.96% to $2.47. Vista Gold Corp. (VGZ) +14.85% to $2.32. Kinross Gold Corporation (K.WT.B) +12.32% to $3.10. Minefinders Corporation Ltd. (MFL.WT) +11.76% to $4.750.
Silver Wheaton Corp. (SLW) +11.29% to $8.97. Red Back Mining Inc. (RBI) +9.95% to $7.18. Pan American Silver Corp. (PAA) +8.21% to $19.63. Forsys Metals Corp. (FSY) +6.89% to $3.26.
Quadra Mining Ltd. (QUA) -5.43% to $4.70.
Allied Nevada Gold Corp. (TSX:ANV), which is working to get the Hycroft project into commercial production, says its annual net loss increased last year to US$79.6 million, up from $11.3 million in 2007. The company reported no revenues for last year or the prior year and its shares rose 84 cents at $6.09.
Roger Biduk;
The S&P/TSX Capped Utilities Index gained .58%.
The S&P/TSX Consumer Discretionary Index was 1.75% higher and the S&P/TSX Consumer Staples Index gained 1.07%.
ZCL Composites Inc. (ZCL) +11.99% to $4.95. Gildan Activewear Inc. (GIL) +5.85% to $9.95.
Linamar Corporation (LNR) -8.70% to $2.10.
In Canadian economic news, wholesale sales declined 4.2 per cent to $41.1 billion in January. Statistics Canada said the drop was due largely to lower activity in the automotive products sector.
S&P/TSX Capped Diversified Metals & Mining Index was lower by .13% as aluminum gained .80%, copper dropped .44% and silver was 5.80% lower to $11.94.
Shares in Timminco Ltd. (TSX:TIM) slipped nine cents to $2.26 after it said Tuesday it will temporarily cut jobs and reduced production of silicon due to difficult market conditions and reduced demand.
S&P/TSX Capped Industrial Index rose .63%.
The S&P/TSX Capped Health Care Index was lower by 2.79%.
In the service sector:
Altus Group Income Fund (AIF.UN) +14.16% to $6.45. Mullen Group Income Fund (MTL.UN) +8.31% to $10.82. Transcontinental Inc. (TCL.A) +6.38% to $6.50. Empire Company Ltd. (EMP.A) +5.34% to $53.09. MacDonald, Dettwiler and Assoc (MDA) +5.05% to $23.32.
The S&P/TSX Capped Information Technology Index gained 1.29% and the S&P/TSX Capped Telecom Services Index lost .29%.
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Tuesday, March 17, 2009
Roger Biduk; Financials Lead Bay Street Higher Again
Roger Biduk;
I wrote last week about the financial sector being oversold and should lead a bear-market rally much higher.
Well, congratulations to my clients for storming into the sector, buying ETFs that brought back returns over the last week that people usually only dream of.
The Toronto stock market roared ahead to a sixth consecutive session of solid gains as investors continued to snap up financial stocks while the energy sector also made a big contribution as crude approached the US$50 a barrel level.
Toronto's S&P/TSX composite index closed up 172.89 points to 8,559.6, adding up to a 13 per cent surge over six days. The financial sector is up more than 28 per cent over that time.
The TSX Venture Exchange advanced 5.8 points to 853.12.
The Canadian dollar climbed 0.29 cent to 78.81 cents U.S. amid data showing manufacturing sales fell during January to the lowest level in almost 10 years, reflecting continued deterioration in the auto industry.
Roger Biduk;
Statistics Canada said sales dropped 5.4 per cent to $41.7 billion as motor vehicle and motor vehicle parts industries, particularly in Ontario, reported record decreases during the month.
Excluding motor vehicles and parts and accessories, manufacturing sales decreased a more moderate 1.2 per cent compared with December.
The S&P/TSX Capped Financial Index gained 2.42%
DiversiTrust Energy Income Fun (DTN.UN) +15.97% to $3.05. Home Capital Group Inc. (HCG) +10.96% to $23.79. Canadian Oil Sands Trust (COS.UN) +9.36% to $25.93. ARC Energy Trust (AET.UN) +9.11% to $14.37. Baytex Energy Trust (BTE.UN) +8.81% to $14.69.
Canadian Real Estate Investmen (REF.UN) -7.74% to $20.15.
S&P/TSX Capped Diversified Metals & Mining Index higher by .81% as aluminum was flat, copper dropped 1.32% and silver was 1.71% lower to $12.67.
Sherritt International Corpora (S) +17.84% to $2.51. Quadra Mining Ltd. (QUA) +11.69% to $4.97.
Forsys Metals Corp. (FSY) -14.57% to $3.05. Timminco Limited (TIM) -8.56% to $2.35. Red Back Mining Inc. (RBI) -5.09% to $6.53.
Roger Biduk;
S&P/TSX Capped Industrial Index rose .53%.
ATS Automation Tooling Systems (ATA) +6.99% to $3.98.
Newalta Inc. (NAL) -6.93% to $2.82.
The S&P/TSX Capped Utilities Index gained 1.58%.
The April crude contract on the New York Mercantile Exchange gained 3.82% to $49.16 and natural gas lost .99% to $3.81 as the S&P/TSX Energy Index jumped 4.07%.
Oil was higher even after OPEC decided during the weekend not to cut production to support prices.
Breaker Energy Ltd. (WAV) +13.17% to $2.75. Eveready Inc. (EIS) +12.45% to $2.62. Trinidad Drilling Ltd. (TDG) +7.96% to $2.44. Crew Energy Inc. (CR) +7.10% to $3.47. Bonavista Energy Trust (BNP.UN) +6.35% to $15.40.
The S&P/TSX Global Gold Index lost 1.82% as the April bullion contract in New York dropped $5.20 to US$916.80 an ounce.
Gabriel Resources Ltd. (GBU) +7.87% to $2.88. Queenston Mining Inc. (QMI) +5.73% to $3.69.
Kirkland Lake Gold Inc. (KGI) -7.29% to $5.72. NovaGold Resources Inc (NG) -5.56% to $2.89.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 1.32% higher and the S&P/TSX Consumer Staples Index lost .39%.
The S&P/TSX Capped Health Care Index was higher by .55%.
Cangene Corporation (CNJ) +8.46% to $4.36.
In the service sector:
Tri-White Corporation (TWH) +10.53% to $5.25. Mullen Group Income Fund (MTL.UN) +9.78% to $9.99. Sears Canada Inc. (SCC) +6.86% to $19.46. Trimac Income Fund (TMA.UN) +6.67% to $2.40.
The S&P/TSX Capped Information Technology Index gained 1.69% and the S&P/TSX Capped Telecom Services Index was 1.84% higher.
Research in Motion Limited (RIM) +6.43% to $52.99.
5N Plus Inc. (VNP) -6.73% to $4.85.
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www.rogerbiduk.wordpress.com
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I wrote last week about the financial sector being oversold and should lead a bear-market rally much higher.
Well, congratulations to my clients for storming into the sector, buying ETFs that brought back returns over the last week that people usually only dream of.
The Toronto stock market roared ahead to a sixth consecutive session of solid gains as investors continued to snap up financial stocks while the energy sector also made a big contribution as crude approached the US$50 a barrel level.
Toronto's S&P/TSX composite index closed up 172.89 points to 8,559.6, adding up to a 13 per cent surge over six days. The financial sector is up more than 28 per cent over that time.
The TSX Venture Exchange advanced 5.8 points to 853.12.
The Canadian dollar climbed 0.29 cent to 78.81 cents U.S. amid data showing manufacturing sales fell during January to the lowest level in almost 10 years, reflecting continued deterioration in the auto industry.
Roger Biduk;
Statistics Canada said sales dropped 5.4 per cent to $41.7 billion as motor vehicle and motor vehicle parts industries, particularly in Ontario, reported record decreases during the month.
Excluding motor vehicles and parts and accessories, manufacturing sales decreased a more moderate 1.2 per cent compared with December.
The S&P/TSX Capped Financial Index gained 2.42%
DiversiTrust Energy Income Fun (DTN.UN) +15.97% to $3.05. Home Capital Group Inc. (HCG) +10.96% to $23.79. Canadian Oil Sands Trust (COS.UN) +9.36% to $25.93. ARC Energy Trust (AET.UN) +9.11% to $14.37. Baytex Energy Trust (BTE.UN) +8.81% to $14.69.
Canadian Real Estate Investmen (REF.UN) -7.74% to $20.15.
S&P/TSX Capped Diversified Metals & Mining Index higher by .81% as aluminum was flat, copper dropped 1.32% and silver was 1.71% lower to $12.67.
Sherritt International Corpora (S) +17.84% to $2.51. Quadra Mining Ltd. (QUA) +11.69% to $4.97.
Forsys Metals Corp. (FSY) -14.57% to $3.05. Timminco Limited (TIM) -8.56% to $2.35. Red Back Mining Inc. (RBI) -5.09% to $6.53.
Roger Biduk;
S&P/TSX Capped Industrial Index rose .53%.
ATS Automation Tooling Systems (ATA) +6.99% to $3.98.
Newalta Inc. (NAL) -6.93% to $2.82.
The S&P/TSX Capped Utilities Index gained 1.58%.
The April crude contract on the New York Mercantile Exchange gained 3.82% to $49.16 and natural gas lost .99% to $3.81 as the S&P/TSX Energy Index jumped 4.07%.
Oil was higher even after OPEC decided during the weekend not to cut production to support prices.
Breaker Energy Ltd. (WAV) +13.17% to $2.75. Eveready Inc. (EIS) +12.45% to $2.62. Trinidad Drilling Ltd. (TDG) +7.96% to $2.44. Crew Energy Inc. (CR) +7.10% to $3.47. Bonavista Energy Trust (BNP.UN) +6.35% to $15.40.
The S&P/TSX Global Gold Index lost 1.82% as the April bullion contract in New York dropped $5.20 to US$916.80 an ounce.
Gabriel Resources Ltd. (GBU) +7.87% to $2.88. Queenston Mining Inc. (QMI) +5.73% to $3.69.
Kirkland Lake Gold Inc. (KGI) -7.29% to $5.72. NovaGold Resources Inc (NG) -5.56% to $2.89.
Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 1.32% higher and the S&P/TSX Consumer Staples Index lost .39%.
The S&P/TSX Capped Health Care Index was higher by .55%.
Cangene Corporation (CNJ) +8.46% to $4.36.
In the service sector:
Tri-White Corporation (TWH) +10.53% to $5.25. Mullen Group Income Fund (MTL.UN) +9.78% to $9.99. Sears Canada Inc. (SCC) +6.86% to $19.46. Trimac Income Fund (TMA.UN) +6.67% to $2.40.
The S&P/TSX Capped Information Technology Index gained 1.69% and the S&P/TSX Capped Telecom Services Index was 1.84% higher.
Research in Motion Limited (RIM) +6.43% to $52.99.
5N Plus Inc. (VNP) -6.73% to $4.85.
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Monday, March 16, 2009
Roger Biduk; Five in a Row for Bay Street.
Roger Biduk;
The Toronto stock market again rallied Monday with gains again led by banks and insurance companies as fresh hopes the recession could end during 2009 extended sharp gains to a fifth day.
Toronto's S&P/TSX composite index gave up more than half of early gains but still closed up 83.32 points to 8,386.71 after a string of good news from the American financial sector pushed the main index almost 10 per cent higher last week.
The TSX Venture Exchange was off 1.65 points to 847.32.
The Canadian dollar dipped 0.07 cent to 78.52 cents US amid further indications of a rapidly slowing economy.
Statistics Canada reported that industries operated at 74.7 per cent of their capacity in the fourth quarter of 2008, down from 78.1 in the third quarter and the lowest capacity utilization rate since the federal agency began keeping records in 1987.
The agency said the fourth-quarter decline was driven mainly by weak domestic and foreign demand for manufactured goods.
Roger Biduk;
The S&P/TSX Capped Financial Index gained 2.32%.
Homburg Invest Inc. (HII.A) +21.74% to $7.00. Dundee Corporation (DC.A) +18.18% to $5.33. Life & Banc Split Corp. (LBS) +17.79% to $4.70. Canadian Life Companies Split (LFE) +17.43% to $2.83. Copernican World Banks Split I (CBW.PR.A) +17.27% to $2.58.
Hopes that an early end to the recession would boost commodity prices sent the S&P/TSX Capped Diversified Metals & Mining Index higher by 4.69% as aluminum gained .81%, copper jumped 4.96% higher and silver dropped 2.46% to $13.22.
Ivanhoe Mines Ltd. (IVN) +12.08% to $5.94. Athabasca Potash Inc. (API) +7.88% to $2.19.
Uranium One Inc. (TSX:UUU) had a net loss of US$258.8 million in its fourth quarter, capping off a year of major losses as the company wrote down mineral interests, plants and equipment. Its shares were down one cent to $2.24.
Industrials were also strong as the S&P/TSX Capped Industrial Index rose 2.25%.
Churchill Corporation (The) (CUQ) +10.13% to $7.50. Bombardier Inc. (BBD.B) +5.76% to $2.94. ATS Automation Tooling Systems (ATA) +5.68% to $3.72.
Sino-Forest Corporation (TRE) -6.53% to $8.02.
Roger Biduk;
The energy sector participated in the upsurge after crude prices reversed course, rising one per cent as the April crude contract on the New York Mercantile Exchange gained $1.10 to US$47.35 a barrel. Prices went as low as US$43.62 during the morning in the wake of OPEC's weekend decision to maintain production at current levels. EnCana Corp. (TSX:ECA) rose 46 cents to $50.05 while Canadian Oil Sands Trust (TSX:COS.UN) gained 93 cents to $23.71.
Crescent Point Energy Trust (TSX:CPG.UN) units fell 10 cents to $24.48 after it reported fourth-quarter net income of $361.4 million on record quarterly production, compared to a year-earlier loss of $90.3 million.
The gold sector was the only major decliner. The S&P/TSX Global Gold Index lost 1.64% as the April bullion contract in New York slumped $8.10 to US$922.00 an ounce.
Minefinders Corporation Ltd. (MFL.WT) +23.88% to $4.15. Imperial Metals Corporation (III) +15.91% to $2.55. Greystar Resources Ltd. (GSL) +14.56% to $3.54. Gabriel Resources Ltd. (GBU) +6.80% to $2.67. Kirkland Lake Gold Inc. (KGI) +6.75% to $6.17.
Keegan Resources Inc. (KGN) -9.39% to $2.22. US Gold Corporation (UXG) -7.50% to $2.22. Alamos Gold Inc. (AGI) -5.49% to $7.75.
The S&P/TSX Capped Utilities Index gained .53%.
The S&P/TSX Consumer Discretionary Index was 1.96% higher and the S&P/TSX Consumer Staples Index gained .21%.
Linamar Corporation (LNR) -9.62% to $2.35.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 1.81%.
Cangene Corporation (CNJ) -13.55% to $4.02.
In the service sector:
Forzani Group Ltd. (The) (FGL) +10.04% to $8.66. MacDonald, Dettwiler and Assoc (MDA) +8.73% to $21.42. TransForce Inc. (TFI) +7.57% to $3.98. Transat A.T. Inc (TRZ.A) +7.51% to $6.87. ACE Aviation Holdings Inc. (ACE.A) +7.30% to $6.32.
Shares in convenience store chain Alimentation Couche-Tard (TSX:ATD.B) rose 15 cents to $13.12 after it reported that third-quarter profits surged 40.8 per cent to $71.1 million despite lower U.S. fuel sales.
Transcontinental Inc. (TCL.A) -7.67% to $6.02. Cargojet Income Fund (CJT.UN) -7.20% to $2.32.
The S&P/TSX Capped Information Technology Index lost .38% and the S&P/TSX Capped Telecom Services Index was 2.19% higher.
Aastra Technologies Limited (AAH) +5.70% to $19.66. March Networks Corporation (MN) +5.61% to $2.26. RuggedCom Inc. (RCM) +5.46% to $21.44. SXC Health Solutions Corp. (SXC) +5.23% to $27.15.
Shares in Rogers Communications Inc. (TSX:RCI.B) were up 84 cents to $29.13 following a report that Nadir Mohamed will become the next CEO, elevating the long-time telecom executive to the position left open by the death of Ted Rogers.
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The Toronto stock market again rallied Monday with gains again led by banks and insurance companies as fresh hopes the recession could end during 2009 extended sharp gains to a fifth day.
Toronto's S&P/TSX composite index gave up more than half of early gains but still closed up 83.32 points to 8,386.71 after a string of good news from the American financial sector pushed the main index almost 10 per cent higher last week.
The TSX Venture Exchange was off 1.65 points to 847.32.
The Canadian dollar dipped 0.07 cent to 78.52 cents US amid further indications of a rapidly slowing economy.
Statistics Canada reported that industries operated at 74.7 per cent of their capacity in the fourth quarter of 2008, down from 78.1 in the third quarter and the lowest capacity utilization rate since the federal agency began keeping records in 1987.
The agency said the fourth-quarter decline was driven mainly by weak domestic and foreign demand for manufactured goods.
Roger Biduk;
The S&P/TSX Capped Financial Index gained 2.32%.
Homburg Invest Inc. (HII.A) +21.74% to $7.00. Dundee Corporation (DC.A) +18.18% to $5.33. Life & Banc Split Corp. (LBS) +17.79% to $4.70. Canadian Life Companies Split (LFE) +17.43% to $2.83. Copernican World Banks Split I (CBW.PR.A) +17.27% to $2.58.
Hopes that an early end to the recession would boost commodity prices sent the S&P/TSX Capped Diversified Metals & Mining Index higher by 4.69% as aluminum gained .81%, copper jumped 4.96% higher and silver dropped 2.46% to $13.22.
Ivanhoe Mines Ltd. (IVN) +12.08% to $5.94. Athabasca Potash Inc. (API) +7.88% to $2.19.
Uranium One Inc. (TSX:UUU) had a net loss of US$258.8 million in its fourth quarter, capping off a year of major losses as the company wrote down mineral interests, plants and equipment. Its shares were down one cent to $2.24.
Industrials were also strong as the S&P/TSX Capped Industrial Index rose 2.25%.
Churchill Corporation (The) (CUQ) +10.13% to $7.50. Bombardier Inc. (BBD.B) +5.76% to $2.94. ATS Automation Tooling Systems (ATA) +5.68% to $3.72.
Sino-Forest Corporation (TRE) -6.53% to $8.02.
Roger Biduk;
The energy sector participated in the upsurge after crude prices reversed course, rising one per cent as the April crude contract on the New York Mercantile Exchange gained $1.10 to US$47.35 a barrel. Prices went as low as US$43.62 during the morning in the wake of OPEC's weekend decision to maintain production at current levels. EnCana Corp. (TSX:ECA) rose 46 cents to $50.05 while Canadian Oil Sands Trust (TSX:COS.UN) gained 93 cents to $23.71.
Crescent Point Energy Trust (TSX:CPG.UN) units fell 10 cents to $24.48 after it reported fourth-quarter net income of $361.4 million on record quarterly production, compared to a year-earlier loss of $90.3 million.
The gold sector was the only major decliner. The S&P/TSX Global Gold Index lost 1.64% as the April bullion contract in New York slumped $8.10 to US$922.00 an ounce.
Minefinders Corporation Ltd. (MFL.WT) +23.88% to $4.15. Imperial Metals Corporation (III) +15.91% to $2.55. Greystar Resources Ltd. (GSL) +14.56% to $3.54. Gabriel Resources Ltd. (GBU) +6.80% to $2.67. Kirkland Lake Gold Inc. (KGI) +6.75% to $6.17.
Keegan Resources Inc. (KGN) -9.39% to $2.22. US Gold Corporation (UXG) -7.50% to $2.22. Alamos Gold Inc. (AGI) -5.49% to $7.75.
The S&P/TSX Capped Utilities Index gained .53%.
The S&P/TSX Consumer Discretionary Index was 1.96% higher and the S&P/TSX Consumer Staples Index gained .21%.
Linamar Corporation (LNR) -9.62% to $2.35.
Roger Biduk;
The S&P/TSX Capped Health Care Index was higher by 1.81%.
Cangene Corporation (CNJ) -13.55% to $4.02.
In the service sector:
Forzani Group Ltd. (The) (FGL) +10.04% to $8.66. MacDonald, Dettwiler and Assoc (MDA) +8.73% to $21.42. TransForce Inc. (TFI) +7.57% to $3.98. Transat A.T. Inc (TRZ.A) +7.51% to $6.87. ACE Aviation Holdings Inc. (ACE.A) +7.30% to $6.32.
Shares in convenience store chain Alimentation Couche-Tard (TSX:ATD.B) rose 15 cents to $13.12 after it reported that third-quarter profits surged 40.8 per cent to $71.1 million despite lower U.S. fuel sales.
Transcontinental Inc. (TCL.A) -7.67% to $6.02. Cargojet Income Fund (CJT.UN) -7.20% to $2.32.
The S&P/TSX Capped Information Technology Index lost .38% and the S&P/TSX Capped Telecom Services Index was 2.19% higher.
Aastra Technologies Limited (AAH) +5.70% to $19.66. March Networks Corporation (MN) +5.61% to $2.26. RuggedCom Inc. (RCM) +5.46% to $21.44. SXC Health Solutions Corp. (SXC) +5.23% to $27.15.
Shares in Rogers Communications Inc. (TSX:RCI.B) were up 84 cents to $29.13 following a report that Nadir Mohamed will become the next CEO, elevating the long-time telecom executive to the position left open by the death of Ted Rogers.
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Saturday, March 14, 2009
Roger Biduk; Four in a Row For Bay Street
Roger Biduk;
Stock markets enjoyed another positive session Friday, stretching a remarkable buying spree in Toronto and New York to four days, largely fuelled by good news from the financial sector.
While it certainly doesn’t happen all the time, I nailed it this week picking the financials.
The S&P/TSX Capped Financial Index gained .92% for a gain of 18.5% this week.
Brompton Lifeco Split Corp. (LCS) +85.19% to $2.00. Kingsway Financial Services In (KFS) +27.57% to $2.73. AGF Management Limited (AGF.B) +7.82% to $8.13. Artis Real Estate Investment T (AX.UN) +6.87% to $6.38. Macquarie Power & Infrastructu (MPT.UN) +6.30% to $4.89.
Alaris Royalty Corp. (AD) -21.76% to $5.25. Killam Properties Inc. (KMP) -6.93% to $4.70. Fairborne Energy Ltd. (FEL) -5.51% to $2.40.
Toronto's S&P/TSX composite index gained 21.12 points on the day to 8303.39, advancing 9.5 per cent for the week.
The TSX Venture Exchange rose 5.55 points to 848.97.
The Canadian dollar climbed 0.41% to 78.59 cents US despite the news that the unemployment rate jumped half a point to 7.7 per cent with the loss of 82,600 jobs in February. Statistics Canada also reported the country's trade deficit deepened to almost $1 billion in January. Observers didn't think the data had much effect on stock trading.
The S&P/TSX Global Gold Index gained .99% as the April bullion contract in New York rose $6.10 to US$930.10 an ounce.
Greystar Resources Ltd. (GSL) +10.36% to $3.09. Detour Gold Corporation (DGC) +7.57% to $9.24. Gabriel Resources Ltd. (GBU) +6.38% to $2.50.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange dropped 1.68% to $46.25 and natural gas lost 1.58% to $3.93 as the S&P/TSX Energy Index sank .96%. This ahead of a meeting of OPEC Sunday. Traders wondered if the cartel will cut production to support prices, while the International Energy Agency lowered its estimate of global oil demand.
Akita Drilling Ltd. (AKT.A) +6.06% to $7.00. Petro Andina Resources Inc. (PAR) +5.12% to $5.95.
Calfrac Well Services Ltd. (CFW) -6.25% to $6.75. Pacific Rubiales Energy Corp. (PRE) -7.79% to $4.50.
In economic news, 83,000 workers lost their jobs in February, bringing total losses since the peak of last October to 295, Statistics Canada reported on Friday. The unemployment rate rose 0.5 percentage points to 7.7% in February.
The S&P/TSX Capped Diversified Metals & Mining Index lost 1.97% as aluminum gained .82%, copper was 2.46% higher and silver rose 2.10% to $13.22.
Aurora Energy Resources Inc. (AXU) +9.78% to $2.47. Detour Gold Corporation (DGC) +7.57% to $9.24. CIC Energy Corp. (ELC) +7.46% to $2.16.
Forsys Metals Corp. (FSY) -29.52% to $3.70. Athabasca Potash Inc. (API) -5.58% to $2.03. Quadra Mining Ltd. (QUA) -5.18% to $4.21.
Ivanhoe Mines Ltd. (IVN) -14.38% to $5.30 after the Mongolian parliament put off discussions about its Oyu Tolgoi copper-gold complex until next month.
Roger Biduk;
The S&P/TSX Capped Industrial Index lost .48%.
Newalta Inc. (NAL) +17.20% to $2.93.
GLV Inc. (GLV.A) -11.31% to $5.41.
Separately, Canada’s trade deficit widened to C$993 million in January from C$652 million in December, as both exports and imports fell, led by a sharp decline in automotive products trade, the statistics office reported. Overall, exports fell 9.0% to C$31.7 billion, while imports fell 7.9% to C$32.7 billion, the data showed.
The S&P/TSX Capped Utilities Index gained .21%.
The S&P/TSX Consumer Discretionary Index was .40% lower and the S&P/TSX Consumer Staples Index lost .57%.
Linamar Corporation (LNR) +6.12% to $2.60.
Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 1.74%.
QLT Inc. (QLT) +11.00% to $2.22.
Cangene Corporation (CNJ) -15.96% to $4.79.
In the service sector:
TransForce Inc. (TFI) +9.14% to $3.70. Trimac Income Fund (TMA.UN) +7.50% to $2.15. Forzani Group Ltd. (The) (FGL) +7.07% to $7.87. New Flyer Industries Inc. (NFI.UN) +5.51% to $7.85. Ag Growth Income Fund (AFN.UN) +5.32% to 20.80.
Transcontinental Inc. (TCL.A) -6.86% to $6.52.
The S&P/TSX Capped Information Technology Index lost .38% and the S&P/TSX Capped Telecom Services Index was 2.19% higher.
EXFO Electro-Optical Engineeri (EXF) +13.39% to $3.81. Torstar Corporation (TS.B) +9.47% to $5.200. Enghouse Systems Limited (ESL) +9.17% to $5.00. Aastra Technologies Limited (AAH) +7.83% to $18.60. Tundra Semiconductor Corporati (TUN) +5.26% to $3.00.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com
Stock markets enjoyed another positive session Friday, stretching a remarkable buying spree in Toronto and New York to four days, largely fuelled by good news from the financial sector.
While it certainly doesn’t happen all the time, I nailed it this week picking the financials.
The S&P/TSX Capped Financial Index gained .92% for a gain of 18.5% this week.
Brompton Lifeco Split Corp. (LCS) +85.19% to $2.00. Kingsway Financial Services In (KFS) +27.57% to $2.73. AGF Management Limited (AGF.B) +7.82% to $8.13. Artis Real Estate Investment T (AX.UN) +6.87% to $6.38. Macquarie Power & Infrastructu (MPT.UN) +6.30% to $4.89.
Alaris Royalty Corp. (AD) -21.76% to $5.25. Killam Properties Inc. (KMP) -6.93% to $4.70. Fairborne Energy Ltd. (FEL) -5.51% to $2.40.
Toronto's S&P/TSX composite index gained 21.12 points on the day to 8303.39, advancing 9.5 per cent for the week.
The TSX Venture Exchange rose 5.55 points to 848.97.
The Canadian dollar climbed 0.41% to 78.59 cents US despite the news that the unemployment rate jumped half a point to 7.7 per cent with the loss of 82,600 jobs in February. Statistics Canada also reported the country's trade deficit deepened to almost $1 billion in January. Observers didn't think the data had much effect on stock trading.
The S&P/TSX Global Gold Index gained .99% as the April bullion contract in New York rose $6.10 to US$930.10 an ounce.
Greystar Resources Ltd. (GSL) +10.36% to $3.09. Detour Gold Corporation (DGC) +7.57% to $9.24. Gabriel Resources Ltd. (GBU) +6.38% to $2.50.
Roger Biduk;
The April crude contract on the New York Mercantile Exchange dropped 1.68% to $46.25 and natural gas lost 1.58% to $3.93 as the S&P/TSX Energy Index sank .96%. This ahead of a meeting of OPEC Sunday. Traders wondered if the cartel will cut production to support prices, while the International Energy Agency lowered its estimate of global oil demand.
Akita Drilling Ltd. (AKT.A) +6.06% to $7.00. Petro Andina Resources Inc. (PAR) +5.12% to $5.95.
Calfrac Well Services Ltd. (CFW) -6.25% to $6.75. Pacific Rubiales Energy Corp. (PRE) -7.79% to $4.50.
In economic news, 83,000 workers lost their jobs in February, bringing total losses since the peak of last October to 295, Statistics Canada reported on Friday. The unemployment rate rose 0.5 percentage points to 7.7% in February.
The S&P/TSX Capped Diversified Metals & Mining Index lost 1.97% as aluminum gained .82%, copper was 2.46% higher and silver rose 2.10% to $13.22.
Aurora Energy Resources Inc. (AXU) +9.78% to $2.47. Detour Gold Corporation (DGC) +7.57% to $9.24. CIC Energy Corp. (ELC) +7.46% to $2.16.
Forsys Metals Corp. (FSY) -29.52% to $3.70. Athabasca Potash Inc. (API) -5.58% to $2.03. Quadra Mining Ltd. (QUA) -5.18% to $4.21.
Ivanhoe Mines Ltd. (IVN) -14.38% to $5.30 after the Mongolian parliament put off discussions about its Oyu Tolgoi copper-gold complex until next month.
Roger Biduk;
The S&P/TSX Capped Industrial Index lost .48%.
Newalta Inc. (NAL) +17.20% to $2.93.
GLV Inc. (GLV.A) -11.31% to $5.41.
Separately, Canada’s trade deficit widened to C$993 million in January from C$652 million in December, as both exports and imports fell, led by a sharp decline in automotive products trade, the statistics office reported. Overall, exports fell 9.0% to C$31.7 billion, while imports fell 7.9% to C$32.7 billion, the data showed.
The S&P/TSX Capped Utilities Index gained .21%.
The S&P/TSX Consumer Discretionary Index was .40% lower and the S&P/TSX Consumer Staples Index lost .57%.
Linamar Corporation (LNR) +6.12% to $2.60.
Roger Biduk;
The S&P/TSX Capped Health Care Index was lower by 1.74%.
QLT Inc. (QLT) +11.00% to $2.22.
Cangene Corporation (CNJ) -15.96% to $4.79.
In the service sector:
TransForce Inc. (TFI) +9.14% to $3.70. Trimac Income Fund (TMA.UN) +7.50% to $2.15. Forzani Group Ltd. (The) (FGL) +7.07% to $7.87. New Flyer Industries Inc. (NFI.UN) +5.51% to $7.85. Ag Growth Income Fund (AFN.UN) +5.32% to 20.80.
Transcontinental Inc. (TCL.A) -6.86% to $6.52.
The S&P/TSX Capped Information Technology Index lost .38% and the S&P/TSX Capped Telecom Services Index was 2.19% higher.
EXFO Electro-Optical Engineeri (EXF) +13.39% to $3.81. Torstar Corporation (TS.B) +9.47% to $5.200. Enghouse Systems Limited (ESL) +9.17% to $5.00. Aastra Technologies Limited (AAH) +7.83% to $18.60. Tundra Semiconductor Corporati (TUN) +5.26% to $3.00.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com
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