Roger Biduk writes:
North American markets ended a volatile session higher Friday, but the gain was modest due to dismal earnings reports from two major U.S. banks and a downgrade of the major Canadian banks.
Toronto's S&P/TSX composite index closed up 40.79 points to 8,920.4 on Friday. That follows triple-digit swings through positive and negative territory for a loss of 165 points or 1.8 per cent this past week, as concerns piled up about banks and oil prices retreated.
The TSX Venture Exchange advanced 21.35 points to 865.65, while the CDN$ snapped a five-day losing streak, rising 0.23 cent to 80.13 cents US. The loonie had fallen more than four cents on a stronger greenback and tumbling oil prices.
Among the most active on the TSX include Nortel (NT) down 13.04% to $.10. Oilexco (OIL) losing 30.00% to $.11. Teck Comminco (TCK.B) gaining 2.48% to $5.79. Goldcorp (G) jumping 4.44% to $32.90. Barrick Gold (ABX) rising 1.52% to $42.70. Bombardier (BBD.B) down $.02 to $4.73. TD bank (TD) losing $.35 to $43.70. Talisman Energy up $.01 to $11.99. BCE (BCE) jumping 2.01% to $24.84. Cdn. Nat. Res. (CNQ) rising 2.02% to $48.54.
Toronto's financial sector slipped 1.45% as all the major Canadian banks were rated "sell" by Dundee Securities. The financial sector gave back over five per cent this week.
Royal Bank (TSX:RY) gave back 40 cents to $33.64 and Scotiabank (TSX:BNS) declined 91 cents to $30.45. Premium Income (PIC.A) down 6.80% to $2.33.
The energy sector was up .8%. The February crude contract on the New York Mercantile Exchange jumped 3.14% to US$36.51 a barrel.
Gainers include Suncor Inc. (TSX:SU) gained 63 cents to $27.48 while Canadian Natural Resources climbed 96 cents to $48.54. Addax Petroleum (AXC) rising 5.97% to $20.23.
Roger Biduk:
The materials sector was up 3.52% with gold soaring $32.60 to US$839.90.
Gainers include Gabriel Resources (GBU) soaring 25.29% to $2.18. NovaGold Res. (NG) jumping $23.78% to $2.29. Centerra Gold (CG) moving 15.02% higher to $15.02%. Timminco (TIM) rose 12.98% to $4.70. Detour Gold (DGC) gained 12.29% to $7.86. Jaguar Mining (JAG) higher by 12.04% to $6.05. Silver Wheaton (SLW) up by 11.13% to $7.69. Eldorado Gold (ELD) moving up by 8.47% to $9.22. Kindross Gold (K) rising 7.42% to $22.45. Tanzanian Royalty Exploration (TNX) up 7.29% to $4.56. Yamana Gold (YRI) rising 6.60% to $8.56. Kirkland Lake Gold (KGI) up 5.84% to $4.17.
Osisko Mining (OSK) lost 5.25% to $3.25.
The metals and mining index was up 3.20% with March copper gaining 5.09% to US$1.5275/lb. Silver soared 7.42% to $US11.22/oz.
Gainers include Sherritt International (TSX:S) moving ahead 15 cents to $3.72 and FNX Mining Co. (TSX:FM) advancing 25 cents to $3.70. Aquiline Res. (AQI) soaring 21.65% to $2.36. Hanfeng Evergreen (HF) gaining 9.82% to $6.04. Dynasty Metals & Mining (DMM) rising 7.45% to $3.75. Int’l Minerals (IMZ) up 7.23% to $2.67. Uranium One (UUU) moving 6.67% higher to $2.08. Silvercorp Metals (SVM) up 6.48% to $2.30. Mag Silver (MAG) rising 6.11% to $6.60. Silver Standard Res. (SSO) gaining 5.93% to $22.34. Ivanhoe Mines (IVN) up 5.68% to $3.72. Sprott Res. (SCP) rising 5.11% to $2.47.
Canam Gr. (CAM) lost 6.49% to $7.21.
Agrium Inc. (TSX:AGU) shares were $2.16 higher to $42.06 after it said it expects to take a US$115-million writedown on its retail operations due to "unprecedented volatility" in global markets in yet another blow to the fertilizer industry.
Roger Biduk:
The tech sector was up .39%. Absolute Software (ABT) was down 5.79% to $3.09.
The healthcare index was up 1.57%.
Gainers include Resverlogix Corp. (RVX) gaining 10.05% to $2.41. Bio MS Medical (MS) rising 10.32% to %3.74. Cardiome Pharma (COM) up 6.09% to $6.79.
Movers in income trusts include Chartwell Seniors Trust (CSH.UN) gaining 7.62% to $5.65. Oil Sands Sector Fund (OSF.UN) jumping 8.94% to $5.24. Livingston Int’l Income Fund (LIV.UN) rising 6.92% to $6.18. Vermilion Energy Tr. (VET.UN) higher by 6.80% to $26.23. Freehold Royalty Trust (FRU.UN) up by 6.36% to $10.70. Brick Group Income Fund (BRK.UN) gaining 6.04% to $2.81. Phoenix Tech. Income Fund (PHX.UN) higher by 5.76% to $11.75. NAL Oil & Gas Trust (NAE.UN) up 5.45% to $8.12.
Noranda Income Fund (NIF.UN) lost 8.33% to $4.40. Total Energy Services Tr. (TOT.UN) sinking 7.38% to $4.14.
Roger Biduk:
Other movers in Toronto include GLG Life Tech. (GLG) jumping 10.47% to $4.75. Int’l Forest Products (IFP.A) gaining 7.69% to $2.10. BPO Properties (BPP) up 7.00% to $26.74. Domtar (UFX) up 6.25% to $2.04. Imax (IMX) rising 6.18% to $5.84. Harry Winston Diamond (HW) up 5.38% to $5.29. Fronteer Dev. Gr. (FRG) gaining 5.22% to $2.42.
Plutonic Power (PCC) lost 5.24% to $2.35. Nova Chemical (NCX) down 5.26% to $6.85. ZCL Composites (ZCL) tanked 7.96% to $4.51. ATS Automation (ATA) lower by 6.37% to $4.26.
In company news, shares in Onex Corp. (TSX:OCX) were off six cents at $18.69 after it said it has raised US$3 billion of capital for its private equity fund, Onex Partners III LP. The company also warned it has temporarily halved its commitment to the fund due to the uncertain investing environment. The conglomerate will now commit $500 million to the fund, down from $1 billion on "a temporary basis," it said in a release. New Flyer Industries Inc. (TSX:NFI.UN) units were 42 cents higher to $9.30 after the Winnipeg-based manufacturer of heavy-duty transit buses said it ended 2008 with an order backlog of US$4.1 billion, up from $2.8 billion at the start of the year.
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Saturday, January 17, 2009
Friday, January 16, 2009
Roger Biduk; Financials a Drag on Bay Street at Midday
Roger Biduk writes:
Bay Street was lower at midday with the financial sector weighing on the index.
Toronto's S&P/TSX composite index, up over 100 points in early trading, declined 49 points to 8,830.6 as the market was also pressured by energy stocks as oil prices reversed direction to head lower.
The TSX Venture Exchange advanced 8.89 points to 853.19 while the Canadian dollar snapped a five-day losing streak rising 0.35 cent to 80.26 cents US. The loonie had fallen more than four cents on a stronger greenback and tumbling oil prices.
Toronto's financial sector slipped 2.23 per cent with TD Bank (TSX: TD.TO) down $1.55 to $42.50 and Scotiabank (TSX: BNS.TO) declined $1.42 to $29.94.
The energy sector was flat as oil prices headed higher after almost touching the US$33 level Thursday. The February crude contract on the New York Mercantile Exchange dropped 91 cents to US$34.49 a barrel and EnCana Corp. (TSX: ECA.TO) fell 59 cents to $56.11 while Petro-Canada (TSX: PCA.TO) improved 51 cents to $29.64.
Roger Biduk:
The base metals sector was one of the few positive sectors, up 1.5 per cent with March copper ahead 6.15 cents to US$1.515 a pound as Sherritt International (TSX: S.TO) moved ahead eight cents to $3.65 and FNX Mining Co. (TSX: FM.TO) advanced 21 cents to $3.66.
Agrium Inc. (TSX: AGU.TO) shares were $1.42 higher to $41.32 after it said it expects to take a US$115-million writedown on its retail operations due to "unprecedented volatility" in global markets in yet another blow to the fertilizer industry.
Shares in Onex Corp. (TSX: OCX.TO) were down 40 cents to $18.35 after it said it has raised US$3 billion of capital for its private equity fund, Onex Partners III LP, but also warned it has temporarily halved its commitment to the fund due to the uncertain investing environment. The conglomerate will now commit $500 million to the fund, down from $1 billion on "a temporary basis," it said in a release.
New Flyer Industries Inc. (TSX: NFI-UN.TO) units were 14 cents higher to $9.02 after the Winnipeg-based manufacturer of heavy-duty transit buses said it ended 2008 with an order backlog of US$4.1 billion, up from $2.8 billion at the start of the year.
Overseas, Japan's Nikkei stock average rose 2.6 per cent while Hong Kong's Hang Seng edged 0.1 per cent higher.
Britain's FTSE 100 gained 1.55 per cent, Germany's DAX rose 1.4 per cent and the Paris CAC 40 index rose 0.55 per cent.
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Bay Street was lower at midday with the financial sector weighing on the index.
Toronto's S&P/TSX composite index, up over 100 points in early trading, declined 49 points to 8,830.6 as the market was also pressured by energy stocks as oil prices reversed direction to head lower.
The TSX Venture Exchange advanced 8.89 points to 853.19 while the Canadian dollar snapped a five-day losing streak rising 0.35 cent to 80.26 cents US. The loonie had fallen more than four cents on a stronger greenback and tumbling oil prices.
Toronto's financial sector slipped 2.23 per cent with TD Bank (TSX: TD.TO) down $1.55 to $42.50 and Scotiabank (TSX: BNS.TO) declined $1.42 to $29.94.
The energy sector was flat as oil prices headed higher after almost touching the US$33 level Thursday. The February crude contract on the New York Mercantile Exchange dropped 91 cents to US$34.49 a barrel and EnCana Corp. (TSX: ECA.TO) fell 59 cents to $56.11 while Petro-Canada (TSX: PCA.TO) improved 51 cents to $29.64.
Roger Biduk:
The base metals sector was one of the few positive sectors, up 1.5 per cent with March copper ahead 6.15 cents to US$1.515 a pound as Sherritt International (TSX: S.TO) moved ahead eight cents to $3.65 and FNX Mining Co. (TSX: FM.TO) advanced 21 cents to $3.66.
Agrium Inc. (TSX: AGU.TO) shares were $1.42 higher to $41.32 after it said it expects to take a US$115-million writedown on its retail operations due to "unprecedented volatility" in global markets in yet another blow to the fertilizer industry.
Shares in Onex Corp. (TSX: OCX.TO) were down 40 cents to $18.35 after it said it has raised US$3 billion of capital for its private equity fund, Onex Partners III LP, but also warned it has temporarily halved its commitment to the fund due to the uncertain investing environment. The conglomerate will now commit $500 million to the fund, down from $1 billion on "a temporary basis," it said in a release.
New Flyer Industries Inc. (TSX: NFI-UN.TO) units were 14 cents higher to $9.02 after the Winnipeg-based manufacturer of heavy-duty transit buses said it ended 2008 with an order backlog of US$4.1 billion, up from $2.8 billion at the start of the year.
Overseas, Japan's Nikkei stock average rose 2.6 per cent while Hong Kong's Hang Seng edged 0.1 per cent higher.
Britain's FTSE 100 gained 1.55 per cent, Germany's DAX rose 1.4 per cent and the Paris CAC 40 index rose 0.55 per cent.
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Roger Biduk; Bay Steet Comes Back 400 Points
Roger Biduk writes:
Stock markets closed higher Thursday after investors U.S. Democrats called for US$825 billion in federal spending and tax cuts to help revive the recession-plagued economy in the United States.
Toronto's S&P/TSX composite index closed 191.25 points higher to 8,879.61 after tumbling more than 200 points.
The TSX Venture Exchange slipped 5.23 points to 844.3.
The CDN$ moved down 0.21 cents to 79.9 cents US following four days of steep declines that cut the loonie's value by about four cents US. The declines have been prompted by a stronger American currency and falling commodity prices, especially oil.
The TSX materials index was up 4.28% even as gold dropped $1.50.
Gainers include Tanzanian Royalty Exploration (TNX) soaring 15.34% to $4.21. Queenston Mining (QMI) rising 11.79% to $2.75. Allied Nevada Gold (ANV) jumping 10.49% to $5.16. Iamgold (IMG) higher by 12.59% to $7.60. Yamana Gold (YRI) up 7.93% to $8.03. Agnico-Eagle (AEM) gaining 7.11% to $60.22. Barrick Gold (ABX) jumping 6.89% to $42.06.
Losers include Centerra Gold (CG) losing 10.00% to $3.33.
The TSX metals & mining index rose 1.96%.
Gainers include First Majestic Silver (FR) soaring 18.87% to $2.52.
First Uranium (FIU) jumping 9.83% to $3.24. Virginia Mines (VGQ) gaining 9.03% to $3.50. Pan American Silver (PAA) rising 8.13% to $18.89. Red Back Mining (RBI) up 7.31% to $7.93. Hudbay Minerals (HBM) higher by 12.23% to $3.58. Silver Standard Res. (SSO) jumping 10.42% to $21.09. Minefinders Corp. (MFL) rising 7.76% to 5.83%.
Roger Biduk
The TSX information technology sector was up 3.20% as tech heavyweight Research In Motion (TSX:RIM) provided strong support, rising $5.63 or 10 per cent to $62.
Shaw Communications Inc. (TSX:SJR.B) said Wednesday its first-quarter earnings increased 10 per cent to $123.1 million compared with a year ago. Revenue in the quarter totalled $817.5 million, up from $743.8 million. Its shares rose 90 cents to $20.85.
The TSX financial sector moved 0.7 per cent higher with Power Corp. (TSX:POW) gaining 82 cents to $22.32 and Manulife Financial (MFC) headed up 70 cents to $22.93.
The TSX energy sector improved 1.94% even as oil prices continued to retreat on concerns about falling demand. The February crude contract on the New York Mercantile Exchange declined $1.88 to US$35.40 a barrel as diving as low as US$33.20. EnCana Corp. (TSX:ECA) rose $2.07 to $56.70 while Suncor Inc. (TSX:SU) climbed 88 cents to $47.58.
Gainers include Petrobank Energy (PBG) jumping 5.22% to $22.77. Paramount Res. (POU) gained 3.71%$8.10.
Loser include Calfrac Well Services (CFW) losing 8.50% to $8.18 and Heritage Oil (HOC) down 7.77% to $3.80.
The TSX industrials sector was 3.28% higher thanks largely to Bombardier Inc. (TSX:BBD.B). Its shares rose 5.56% to $4.75 after it said that Virginia-based regional airline Colgan Air has confirmed previously conditional orders for 10 Q400 turboprop airliners and is exercising options on five Q400s placed in 2007 by its parent company, Pinnacle Airlines Corp. The list value of the 15 planes is US$432 million.
Railway stocks improved after an RBC Capital analyst said that North America's railroad industry is positioned for long-term growth despite enduring financial pressures from the economic slowdown. Walter Spracklin says Canadian railways Canadian National Railways (TSX:CNR) and Canadian Pacific (TSX:CP) will continue to gain market share from trucking. CN shares rose $1 to $43.41 while CP shares moved up $1.12 to $39.78.
Gainers include West Fraser Timber (WFT) gaining 9.26% to $25.72. ATS Automation (ATA) rising 7.57% to $4.55 and SNC Lavalin (SNC) up by 5.78% to $37.49. Domtar (UFS) higher by 10.87% to $2.00. Westjet (WJA.A) moving 7.12% higher to $14.15.
Other gainers included CryptoLogic (CRY) soaring 18.87% to $4.68. Lululemon Athletica (LLL) jumping 11.88% to $8.76. Plutonic Power (PCC) higher by 11.21% to $2.48. Corus Ent. (CJR.B) up 9.58% to $13.15.
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Stock markets closed higher Thursday after investors U.S. Democrats called for US$825 billion in federal spending and tax cuts to help revive the recession-plagued economy in the United States.
Toronto's S&P/TSX composite index closed 191.25 points higher to 8,879.61 after tumbling more than 200 points.
The TSX Venture Exchange slipped 5.23 points to 844.3.
The CDN$ moved down 0.21 cents to 79.9 cents US following four days of steep declines that cut the loonie's value by about four cents US. The declines have been prompted by a stronger American currency and falling commodity prices, especially oil.
The TSX materials index was up 4.28% even as gold dropped $1.50.
Gainers include Tanzanian Royalty Exploration (TNX) soaring 15.34% to $4.21. Queenston Mining (QMI) rising 11.79% to $2.75. Allied Nevada Gold (ANV) jumping 10.49% to $5.16. Iamgold (IMG) higher by 12.59% to $7.60. Yamana Gold (YRI) up 7.93% to $8.03. Agnico-Eagle (AEM) gaining 7.11% to $60.22. Barrick Gold (ABX) jumping 6.89% to $42.06.
Losers include Centerra Gold (CG) losing 10.00% to $3.33.
The TSX metals & mining index rose 1.96%.
Gainers include First Majestic Silver (FR) soaring 18.87% to $2.52.
First Uranium (FIU) jumping 9.83% to $3.24. Virginia Mines (VGQ) gaining 9.03% to $3.50. Pan American Silver (PAA) rising 8.13% to $18.89. Red Back Mining (RBI) up 7.31% to $7.93. Hudbay Minerals (HBM) higher by 12.23% to $3.58. Silver Standard Res. (SSO) jumping 10.42% to $21.09. Minefinders Corp. (MFL) rising 7.76% to 5.83%.
Roger Biduk
The TSX information technology sector was up 3.20% as tech heavyweight Research In Motion (TSX:RIM) provided strong support, rising $5.63 or 10 per cent to $62.
Shaw Communications Inc. (TSX:SJR.B) said Wednesday its first-quarter earnings increased 10 per cent to $123.1 million compared with a year ago. Revenue in the quarter totalled $817.5 million, up from $743.8 million. Its shares rose 90 cents to $20.85.
The TSX financial sector moved 0.7 per cent higher with Power Corp. (TSX:POW) gaining 82 cents to $22.32 and Manulife Financial (MFC) headed up 70 cents to $22.93.
The TSX energy sector improved 1.94% even as oil prices continued to retreat on concerns about falling demand. The February crude contract on the New York Mercantile Exchange declined $1.88 to US$35.40 a barrel as diving as low as US$33.20. EnCana Corp. (TSX:ECA) rose $2.07 to $56.70 while Suncor Inc. (TSX:SU) climbed 88 cents to $47.58.
Gainers include Petrobank Energy (PBG) jumping 5.22% to $22.77. Paramount Res. (POU) gained 3.71%$8.10.
Loser include Calfrac Well Services (CFW) losing 8.50% to $8.18 and Heritage Oil (HOC) down 7.77% to $3.80.
The TSX industrials sector was 3.28% higher thanks largely to Bombardier Inc. (TSX:BBD.B). Its shares rose 5.56% to $4.75 after it said that Virginia-based regional airline Colgan Air has confirmed previously conditional orders for 10 Q400 turboprop airliners and is exercising options on five Q400s placed in 2007 by its parent company, Pinnacle Airlines Corp. The list value of the 15 planes is US$432 million.
Railway stocks improved after an RBC Capital analyst said that North America's railroad industry is positioned for long-term growth despite enduring financial pressures from the economic slowdown. Walter Spracklin says Canadian railways Canadian National Railways (TSX:CNR) and Canadian Pacific (TSX:CP) will continue to gain market share from trucking. CN shares rose $1 to $43.41 while CP shares moved up $1.12 to $39.78.
Gainers include West Fraser Timber (WFT) gaining 9.26% to $25.72. ATS Automation (ATA) rising 7.57% to $4.55 and SNC Lavalin (SNC) up by 5.78% to $37.49. Domtar (UFS) higher by 10.87% to $2.00. Westjet (WJA.A) moving 7.12% higher to $14.15.
Other gainers included CryptoLogic (CRY) soaring 18.87% to $4.68. Lululemon Athletica (LLL) jumping 11.88% to $8.76. Plutonic Power (PCC) higher by 11.21% to $2.48. Corus Ent. (CJR.B) up 9.58% to $13.15.
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Thursday, January 15, 2009
Roger Biduk; TSX Lower at Midday on Lower Autos, Oil
Roger Biduk writes:
Stocks on Bay Street continued their malaise Thursday afternoon -- as investors struggled with more bad tidings from the auto sector and oil prices continued to recede.
The S&P/TSX composite index was down 148.61 points to 8,539.75.
The CDN$ was trading down 0.01 cents to 79.21 cents US.
Meanwhile, the TSX Venture Exchange was 10.10 points lower at 839.43 and the NASDAQ Canada was up 6.37 points to 466.05.
On the data front, new motor vehicle sales fell 7% in November to 129,044, the largest monthly decline since August 2005. Statistics Canada attributes most of the decrease to lower sales of passenger cars.
Four of the TSX sub-groups were trading higher -- techs were ahead 0.66%, health care increased 0.27%, and industrials improved 0.21%.
On the downside, mining stocks were off 3.33%, energy issues were down 2.92% and financials stocks shed 2.81%.
COMEX gold for February delivery rose $2.20 to $811 an ounce.
U.S. light crude oil for February delivery fell $1.97 to $34.31 a barrel on the New York Mercantile Exchange.
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Stocks on Bay Street continued their malaise Thursday afternoon -- as investors struggled with more bad tidings from the auto sector and oil prices continued to recede.
The S&P/TSX composite index was down 148.61 points to 8,539.75.
The CDN$ was trading down 0.01 cents to 79.21 cents US.
Meanwhile, the TSX Venture Exchange was 10.10 points lower at 839.43 and the NASDAQ Canada was up 6.37 points to 466.05.
On the data front, new motor vehicle sales fell 7% in November to 129,044, the largest monthly decline since August 2005. Statistics Canada attributes most of the decrease to lower sales of passenger cars.
Four of the TSX sub-groups were trading higher -- techs were ahead 0.66%, health care increased 0.27%, and industrials improved 0.21%.
On the downside, mining stocks were off 3.33%, energy issues were down 2.92% and financials stocks shed 2.81%.
COMEX gold for February delivery rose $2.20 to $811 an ounce.
U.S. light crude oil for February delivery fell $1.97 to $34.31 a barrel on the New York Mercantile Exchange.
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Roger Biduk; Nortel & Retail Take Down Bay Street
Roger Biduk writes;
Canadian and U.S. stock markets tanked as economic reports on retail sales were brutal. It looks like the recession is going to be worse than most analysts thought.
Looks like former tech icon Nortel Networks (TSX:NT) is finally filing for bankruptcy protection from creditors.
Toronto's S&P/TSX composite index fell 273.19 points or three per cent to 8,688.36. The TSX Venture Exchange was down 19.37 points to 849.53 while the CDN$ slipped 1.54 cents to 80.11 cents US.
Nortel stock plunged 26.5 cents or 68.8 per cent to 12 cents on a huge volume of 73.2 million shares, far away from its 52-week high of $14. North America's biggest maker of telecommunications equipment has been dealing with a sharp drop in orders from phone company customers, squeezed by the global credit crunch and the slumping U.S. economy. Nortel said the recession was the last straw.
Celestica (CLS) dropped 6.19% to $5.61.
Roger Biduk
The TSX financial sector fell three per cent.
Losers included Royal Bank (TSX:RY) down 96 cents to $34.84 and CIBC (TSX:CM) fell $1.77 to $48.86. Horizons BetaPro S&P TSX Financials Bull Plus ETF (HFU) tanking 6.82% to $5.60.
Gainers included Horizons BetaPro S&P TSX Financials Bear Plus ETF (HFD) soaring 6.76% to $33.60.
The TSX energy sector retreated 3.5 per cent after the U.S. Energy Information Administration said that distillate inventories - including heating oil - rose 6.4 million barrels last week, much higher than the 1.7 million gain that had been expected. The February crude contract on the New York Mercantile Exchange fell 50 cents to US$37.28 a barrel.
Gainers include Horizons BetaPro S&P TSX Capped Energy Bear Plus ETF (HED) soaring 6.37% to $18.36. Horizons BetaPro Nymex Crude Oil Bear Plus ETF (HOD) rising 4.68% to $25.28.
Losers include EnCana Corp. (TSX: ECA) declined $1.45 to $54.63 and Suncor Inc. (TSX:SU) gave back $1.70 to $25.78. Galleon Energy (GO) tanked 9.80% to $4.14. Horizons BetaPro Nymex Natural Gas Bull Plus ETF (HNU) sinking 8.43% to $3.80. Fairborne Energy Trust (FEL) losing 8.28% to $5.32. Crew Energy (CR) dropped 7.96% to $4.28. Addax Petroleum (AXC) down 7.37% to $19.36. Petro Canada (PCA) losing 6.58% to $28.68. Horizons BetaPro S&P TSX Capped Energy Bull Plus ETF (HED) dropping 6.19% to $4.55.
The base metals sector was a major drag, losing almost 10 per cent as copper prices gave back three per cent to US$1.4875 a pound. Teck Cominco Ltd. (TSX:TCK.B) declined 12.92%to $5.73 and Sherritt International (TSX:S) sinking 9.23% to $3.54. Inmet Mining (IMN) tanked 11.60% to $20.95. First Quantum Minerals (FM) sank 9.92% to $20.98. Hudbay Minerals (HBM) dropped 9.89% to $3.19. Timminco (TIM) losing 8.05% to $4.11. Thompson Creek Metals (TCM) declined 7.91% to $5.24. Dynasty Metals & Mining (DMM) sank 7.69% to $3.60. FNX Mining (FNX) declining 7.47% to $3.59. Ivanhoe Mines (IVN) down 7.31% to $3.55. Quadra Mining (QUA) sinking 6.45% to $2.90. Yamana Gold (YRI) losing 6.42% to $7.44. Silver Wheaton (SLW) down 6.28% to $6.57.
Roger Biduk
Other gainers include Bio MS Medical soaring 7.91% to $3.41. Labopharm (DDS) jumping 7.69% to $2.10. Horizons BetaPro S&P 500 Bear Plus ETF (HSD) soaring 6.34% to $33.72. Aeroplan Income Fund (AER) spiking up 6.28% to $8.80. Horizons BetaPro S&P TSX 60 Bear Plus ETF (HXD) rising 5.31% to $28.76.
Other losers included Mullen Transportation (MTL.UN) tanking 9.28% to $11.05. Chartwell Senior Housing Real Estate Trust (CSH.UN) sank 8.38% to $5.03. Air Canada (AC.B) losing 8.20% to $2.24. Newalta Income Fund (NAL) dropping 7.70% to $5.87. Brookfield Properties (BPO) sinking 7.66% to $7.71. West Fraser Timber (WFT) down 6.74% to $23.54. Bombardier (BBD.B) losing 6.53% to $6.53%. Canadian Hydro Developer (KHD) down 6.46% to $3.04. Horizons BetaPro S&P Bull Plus ETF (HFD) dropping 6.34% to $6.35. Potash (POT) sinking 6.19% to $87.67.
Canwest Global Communications Corp. (TSX:CGS) shares plunged 28 cents or 35 per cent to 52 cents after it reported a loss of $33 million for its fiscal first quarter on Wednesday, as its advertising revenue was eroded by the deteriorating economy. It also warned it may not be able to meet some of the repayment condition of its loans.
Corus Entertainment Inc. (TSX:CJR.B) said Wednesday it was reducing its 2009 earnings guidance despite recording a quarterly profit of $40.6 million, as advertisers scale back their spending in a slowing economy. Its shares declined 39 cents to $12.
Astral Media Inc. (TSX:ACM.A), Canada's largest radio and pay-TV operator, said Wednesday its first-quarter profit rose to $42.4 million from a year-earlier $37.5 million and its shares declined 45 cents to $22.50.
Canadian and U.S. stock markets tanked as economic reports on retail sales were brutal. It looks like the recession is going to be worse than most analysts thought.
Looks like former tech icon Nortel Networks (TSX:NT) is finally filing for bankruptcy protection from creditors.
Toronto's S&P/TSX composite index fell 273.19 points or three per cent to 8,688.36. The TSX Venture Exchange was down 19.37 points to 849.53 while the CDN$ slipped 1.54 cents to 80.11 cents US.
Nortel stock plunged 26.5 cents or 68.8 per cent to 12 cents on a huge volume of 73.2 million shares, far away from its 52-week high of $14. North America's biggest maker of telecommunications equipment has been dealing with a sharp drop in orders from phone company customers, squeezed by the global credit crunch and the slumping U.S. economy. Nortel said the recession was the last straw.
Celestica (CLS) dropped 6.19% to $5.61.
Roger Biduk
The TSX financial sector fell three per cent.
Losers included Royal Bank (TSX:RY) down 96 cents to $34.84 and CIBC (TSX:CM) fell $1.77 to $48.86. Horizons BetaPro S&P TSX Financials Bull Plus ETF (HFU) tanking 6.82% to $5.60.
Gainers included Horizons BetaPro S&P TSX Financials Bear Plus ETF (HFD) soaring 6.76% to $33.60.
The TSX energy sector retreated 3.5 per cent after the U.S. Energy Information Administration said that distillate inventories - including heating oil - rose 6.4 million barrels last week, much higher than the 1.7 million gain that had been expected. The February crude contract on the New York Mercantile Exchange fell 50 cents to US$37.28 a barrel.
Gainers include Horizons BetaPro S&P TSX Capped Energy Bear Plus ETF (HED) soaring 6.37% to $18.36. Horizons BetaPro Nymex Crude Oil Bear Plus ETF (HOD) rising 4.68% to $25.28.
Losers include EnCana Corp. (TSX: ECA) declined $1.45 to $54.63 and Suncor Inc. (TSX:SU) gave back $1.70 to $25.78. Galleon Energy (GO) tanked 9.80% to $4.14. Horizons BetaPro Nymex Natural Gas Bull Plus ETF (HNU) sinking 8.43% to $3.80. Fairborne Energy Trust (FEL) losing 8.28% to $5.32. Crew Energy (CR) dropped 7.96% to $4.28. Addax Petroleum (AXC) down 7.37% to $19.36. Petro Canada (PCA) losing 6.58% to $28.68. Horizons BetaPro S&P TSX Capped Energy Bull Plus ETF (HED) dropping 6.19% to $4.55.
The base metals sector was a major drag, losing almost 10 per cent as copper prices gave back three per cent to US$1.4875 a pound. Teck Cominco Ltd. (TSX:TCK.B) declined 12.92%to $5.73 and Sherritt International (TSX:S) sinking 9.23% to $3.54. Inmet Mining (IMN) tanked 11.60% to $20.95. First Quantum Minerals (FM) sank 9.92% to $20.98. Hudbay Minerals (HBM) dropped 9.89% to $3.19. Timminco (TIM) losing 8.05% to $4.11. Thompson Creek Metals (TCM) declined 7.91% to $5.24. Dynasty Metals & Mining (DMM) sank 7.69% to $3.60. FNX Mining (FNX) declining 7.47% to $3.59. Ivanhoe Mines (IVN) down 7.31% to $3.55. Quadra Mining (QUA) sinking 6.45% to $2.90. Yamana Gold (YRI) losing 6.42% to $7.44. Silver Wheaton (SLW) down 6.28% to $6.57.
Roger Biduk
Other gainers include Bio MS Medical soaring 7.91% to $3.41. Labopharm (DDS) jumping 7.69% to $2.10. Horizons BetaPro S&P 500 Bear Plus ETF (HSD) soaring 6.34% to $33.72. Aeroplan Income Fund (AER) spiking up 6.28% to $8.80. Horizons BetaPro S&P TSX 60 Bear Plus ETF (HXD) rising 5.31% to $28.76.
Other losers included Mullen Transportation (MTL.UN) tanking 9.28% to $11.05. Chartwell Senior Housing Real Estate Trust (CSH.UN) sank 8.38% to $5.03. Air Canada (AC.B) losing 8.20% to $2.24. Newalta Income Fund (NAL) dropping 7.70% to $5.87. Brookfield Properties (BPO) sinking 7.66% to $7.71. West Fraser Timber (WFT) down 6.74% to $23.54. Bombardier (BBD.B) losing 6.53% to $6.53%. Canadian Hydro Developer (KHD) down 6.46% to $3.04. Horizons BetaPro S&P Bull Plus ETF (HFD) dropping 6.34% to $6.35. Potash (POT) sinking 6.19% to $87.67.
Canwest Global Communications Corp. (TSX:CGS) shares plunged 28 cents or 35 per cent to 52 cents after it reported a loss of $33 million for its fiscal first quarter on Wednesday, as its advertising revenue was eroded by the deteriorating economy. It also warned it may not be able to meet some of the repayment condition of its loans.
Corus Entertainment Inc. (TSX:CJR.B) said Wednesday it was reducing its 2009 earnings guidance despite recording a quarterly profit of $40.6 million, as advertisers scale back their spending in a slowing economy. Its shares declined 39 cents to $12.
Astral Media Inc. (TSX:ACM.A), Canada's largest radio and pay-TV operator, said Wednesday its first-quarter profit rose to $42.4 million from a year-earlier $37.5 million and its shares declined 45 cents to $22.50.
Wednesday, January 14, 2009
Roger Biduk; Nortel Sinks Bay Street
Roger Biduk writes:
Stocks on Bay Street traded deep in the red Wednesday afternoon in a broad-based selloff as a surprisingly weak US retail sales report and news that Nortel Networks filed for bankruptcy protection weighed on sentiment.
The S&P/TSX composite index was down 258.91 points to 8,702.64. Meanwhile, the TSX Venture Exchange was 18.07 points lower at 850.83 and the NASDAQ Canada was off 10.45 points at 463.50.
The CDN$ was trading down 0.98 cent to 80.64 cents US.
In earnings news, Canwest Global Communications Corp. (CGS) reported a loss of $33 million for its fiscal first quarter on Wednesday, citing a deteriorating economy, low advertising revenue and accounting issues related to some of its specialty television channels. The loss amounts to 18 cents per share and reverses year-earlier earnings of $41 million or 23 cents per share.
Corus Entertainment Inc. (CJR.B) said Wednesday it was reducing its 2009 earnings guidance despite recording profits in its first fiscal quarter. The Toronto-based media company reported earnings of $40.6 million, or 50 cents a share, up slightly from year-earlier earnings of $39.4 million or 46 cents a share.
Cogeco Inc. (CGO) reported a profit of $11.1 million or 66 cents a share, reversing year-earlier losses of $10 million or 60 cents a share. The company says revenue rose 18.5 percent to $308.4 million from $260.3 million.
On the corporate front, Nortel Networks Corp. (NT) filed for bankruptcy protection. Toronto-based Nortel said today that the company and its various subsidiaries would seek protection from creditors with filings in Canada, the United States and Europe. The move comes in advance of an interest payment Nortel was scheduled to make this week of about US$107 million.
Roger Biduk writes:
In economic news, the Census Bureau said Wednesday that retail sales for December declined 2.7 percent, vs. an expected decline of 1.2 percent. Factoring out autos, retail sales declined 3.1 percent, vs. a 2.5 percent decline in the prior month and the expectation for a 1.4 percent decline. The Mortgage Bankers Association said early Wednesday that the market composite index, a measure of mortgage loan application volume increased 15.8 percent on a seasonally adjusted basis to 1324.8 for the week ended Jan. 9. On an unadjusted basis, the index increased 95.7 percent compared with the previous week and 52.4 percent from a month prior.
All of the TSX sub-groups traded lower this afternoon.
Mining stocks were off 8.31 percent, industrial issues were down 3.77 percent and energy stocks shed 3.54 percent.
Gold was rising $1.10 to $821.80 US an ounce.
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Stocks on Bay Street traded deep in the red Wednesday afternoon in a broad-based selloff as a surprisingly weak US retail sales report and news that Nortel Networks filed for bankruptcy protection weighed on sentiment.
The S&P/TSX composite index was down 258.91 points to 8,702.64. Meanwhile, the TSX Venture Exchange was 18.07 points lower at 850.83 and the NASDAQ Canada was off 10.45 points at 463.50.
The CDN$ was trading down 0.98 cent to 80.64 cents US.
In earnings news, Canwest Global Communications Corp. (CGS) reported a loss of $33 million for its fiscal first quarter on Wednesday, citing a deteriorating economy, low advertising revenue and accounting issues related to some of its specialty television channels. The loss amounts to 18 cents per share and reverses year-earlier earnings of $41 million or 23 cents per share.
Corus Entertainment Inc. (CJR.B) said Wednesday it was reducing its 2009 earnings guidance despite recording profits in its first fiscal quarter. The Toronto-based media company reported earnings of $40.6 million, or 50 cents a share, up slightly from year-earlier earnings of $39.4 million or 46 cents a share.
Cogeco Inc. (CGO) reported a profit of $11.1 million or 66 cents a share, reversing year-earlier losses of $10 million or 60 cents a share. The company says revenue rose 18.5 percent to $308.4 million from $260.3 million.
On the corporate front, Nortel Networks Corp. (NT) filed for bankruptcy protection. Toronto-based Nortel said today that the company and its various subsidiaries would seek protection from creditors with filings in Canada, the United States and Europe. The move comes in advance of an interest payment Nortel was scheduled to make this week of about US$107 million.
Roger Biduk writes:
In economic news, the Census Bureau said Wednesday that retail sales for December declined 2.7 percent, vs. an expected decline of 1.2 percent. Factoring out autos, retail sales declined 3.1 percent, vs. a 2.5 percent decline in the prior month and the expectation for a 1.4 percent decline. The Mortgage Bankers Association said early Wednesday that the market composite index, a measure of mortgage loan application volume increased 15.8 percent on a seasonally adjusted basis to 1324.8 for the week ended Jan. 9. On an unadjusted basis, the index increased 95.7 percent compared with the previous week and 52.4 percent from a month prior.
All of the TSX sub-groups traded lower this afternoon.
Mining stocks were off 8.31 percent, industrial issues were down 3.77 percent and energy stocks shed 3.54 percent.
Gold was rising $1.10 to $821.80 US an ounce.
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Tuesday, January 13, 2009
Roger Biduk; Commodities Sink Bay Street
Roger Biduk writes;
The Toronto stock market tumbled almost 300 points as worries about the economy sent commodity stocks tumbling.
But weak jobs data at the end of last week helped further depress bank stocks.
Toronto's S&P/TSX composite index tumbled 291.85 points or 3.2 per cent to 8,793.33, leaving the key index down 2.1 per cent for the trading year so far.
The TSX Venture Exchange was 30.55 points lower to 878.35 while a stronger American currency and sharply lower oil prices helped send the CDN$ down 1.7 cents to 82.28 cents US.
The market also lost ground as the Bank of Canada's quarterly survey of companies found that business leaders expect sales growth to slow and job cuts this year. As well, the firms reported tightening credit conditions over the past three months.
The TSX energy sector lost four per cent as the February crude contract in New York fell US$3.24 to $37.59 on the New York Mercantile Exchange. EnCana Corp. (TSX: ECA.TO) declined $1.61 to $54.86 and Suncor Inc (TSX: SU.TO) gave back $1.33 to $26.56.
Gainers were few in the sector with Horizons BetaPro Nymex Crude Oil Bear Plus ETF (HOD) gaining 15.83% to $25.32. This EFT is leveraged twice to the daily percentage decline in the price of oil and is the opposite of (HOU).
Losers in the sector include Horizons BetaPro Nymex Crude Oil Bull Plus ETF (HOU) tanking 15.49% to $9.00. This EFT is leveraged twice to the daily percentage gain in the price of oil and is the opposite of (HOD). Highpine Oil & Gas (HPX) dropping 9.90% to $4.73. Petrobank Energy & Res. (PBG) down 8.86% to $21.60. Tristar Oil & Gas (TOG) lost 8.00% to $11.15. Fairborne Energy Trust (FEL) dropped 7.50% to $5.80. Pacific Rubialis Energy (PRE) down 7.02% to $2.78. Paladin Energy (PDN) slumped 6.50% to $2.30. Crescent Point Energy Trust (CPG.UN) declined 5.93% to $22.21. Birchcliff Energy (BIR) down 5.58% to $5.25. Canadian natural resources (CNQ) fell 5.26% to $48.07. Ensign Energy (ESI) lost 5.14% to $12.00.
The base metals sector fell eight per cent while copper dropped 4.6 per cent to $1.4885 a pound after posting double digit increases last week. Teck Cominco Ltd. (TSX: TCK-B.TO) dropped 45 cents to $6.60 and HudBay Minerals (TSX: HBM.TO) retreated 11.14% to $3.43.
Decliners include Timminco (TIM) tanking 14.65% to $4.31. Quadra Mining (QUA) dropping 12.79% to $3.07. First Majestic Silver (FR) losing 12.02% to $2.05. FNX Mining (FNX) down 10.45% to $3.60. Silver Wheaton (SLW) declining $8.89% to $6.76. Sherritt Intl. (S) slumping 8.74% to $3.55. Inmet Mining (IMN) down 8.61% to $23.26. Red Back Mining losing 8.16% to $6.87. First Quantum Minerals (FM) sank 6.78% to $22.00. Teck Cominco (TCK.B) dropped 6.38% to $6.60. Thomas Creek Metals (TCM) slumped 5.79% to $5.70. Ivanhoe Mines fell 5.21% to $3.64.
Roger Biduk writes:
The gold sector gave back 4.35 per cent as the February bullion contract moved down $34 to US$821 an ounce in New York. Goldcorp Inc. (TSX: G.TO) faded $1.98 to $30.40 and Barrick Gold Corp. (TSX: ABX.TO) surrendered $1.21 to $37.99.
Gainers were few in the sector with Horizons BetaPro S&P TSX Global Gold Bear Plus ETF (HGD) soared 7.57% to $13.93. This EFT is leveraged twice to the daily percentage decline of the price of gold and is the opposite of (HGU). Alamos Gold (AGI) rose 2.79% to $7.73.
Decliners include European Goldfields (EGU) tanking 10.65% to $2.60. Horizons BetaPro S&P TSX Global Gold Bull Plus ETF (HGU) dropped 8.06% to $9.47. This EFT is leveraged twice to the daily percentage gain of the price of gold and is the opposite of (HGD). Eldorado Gold (ELD) lost 7.14% to $8.59. Yamana Gold (YRI) losing 6.84% to $7.76. Iamgold (IMG) fell 5.47% to $6.57.
The financials sector was down three per cent as Royal Bank (TSX: RY.TO) fell $1.07 to $35.74 and CIBC (TSX: CM.TO) dropped $1.95 to $50.71. Bank of Nova Scotia (BNS) slumped 5.24% to $31.27.
All sectors were weak except for slight rises in the tech sector, thanks to Nortel Networks (TSX: NT.TO) rising 4.5 cents or 9.7 per cent to 51 cents on top of a 39 per cent surge on Friday.
Units in Bell Aliant (TSX: BA-UN.TO) rose 17 cents to $24 after it said it is cutting 500 management jobs in a move to streamline operations and improve its bottom line. Enghouse Systems (ESL) up 2.67% to $5.00.
Magna International (TSX: MG-A.TO) shares were 44 cents lower to $38.70 after the auto parts maker said it is teaming up with Ford Motor Co. to produce a fully electric car that will get up to 160 kilometres on a single charge. Magna said the car, based on the Ford Focus platform, will be on the market in 2011.
Other industrials like CAE (CAE) dropped 5.81% to $7.62. Bombardier (BBD.B) fell 5.51% to $4.46.
Other movers include Horizons Betapro S&P TSX 60 Bear Plus ETF (HXD) up 6.46% to $28.33. This ETF is leveraged twice the daily percentage downside of the index and is the opposite of (HXU). Brookfield Properties (BPO) lost 7.83% to $8.47. Finning Intl. down 6.69% to $13.94. Horizons Betapro S&P TSX 60 Bull Plus ETF (HXU) losing 6.52% to $10.75. This ETF is leveraged twice the daily percentage gain of the index and is the opposite of (HXD). Thompson Reuters (TRI) fell 5.04% to $29.20.
Fertilizer stocks tanked with the rest of the commodity market. Potash Corp., (TSX: POT.TO) tanked $11.20 or 11.1 per cent to $89.50. Agrium (AGU) slumped 8.07% to $38.84.
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The Toronto stock market tumbled almost 300 points as worries about the economy sent commodity stocks tumbling.
But weak jobs data at the end of last week helped further depress bank stocks.
Toronto's S&P/TSX composite index tumbled 291.85 points or 3.2 per cent to 8,793.33, leaving the key index down 2.1 per cent for the trading year so far.
The TSX Venture Exchange was 30.55 points lower to 878.35 while a stronger American currency and sharply lower oil prices helped send the CDN$ down 1.7 cents to 82.28 cents US.
The market also lost ground as the Bank of Canada's quarterly survey of companies found that business leaders expect sales growth to slow and job cuts this year. As well, the firms reported tightening credit conditions over the past three months.
The TSX energy sector lost four per cent as the February crude contract in New York fell US$3.24 to $37.59 on the New York Mercantile Exchange. EnCana Corp. (TSX: ECA.TO) declined $1.61 to $54.86 and Suncor Inc (TSX: SU.TO) gave back $1.33 to $26.56.
Gainers were few in the sector with Horizons BetaPro Nymex Crude Oil Bear Plus ETF (HOD) gaining 15.83% to $25.32. This EFT is leveraged twice to the daily percentage decline in the price of oil and is the opposite of (HOU).
Losers in the sector include Horizons BetaPro Nymex Crude Oil Bull Plus ETF (HOU) tanking 15.49% to $9.00. This EFT is leveraged twice to the daily percentage gain in the price of oil and is the opposite of (HOD). Highpine Oil & Gas (HPX) dropping 9.90% to $4.73. Petrobank Energy & Res. (PBG) down 8.86% to $21.60. Tristar Oil & Gas (TOG) lost 8.00% to $11.15. Fairborne Energy Trust (FEL) dropped 7.50% to $5.80. Pacific Rubialis Energy (PRE) down 7.02% to $2.78. Paladin Energy (PDN) slumped 6.50% to $2.30. Crescent Point Energy Trust (CPG.UN) declined 5.93% to $22.21. Birchcliff Energy (BIR) down 5.58% to $5.25. Canadian natural resources (CNQ) fell 5.26% to $48.07. Ensign Energy (ESI) lost 5.14% to $12.00.
The base metals sector fell eight per cent while copper dropped 4.6 per cent to $1.4885 a pound after posting double digit increases last week. Teck Cominco Ltd. (TSX: TCK-B.TO) dropped 45 cents to $6.60 and HudBay Minerals (TSX: HBM.TO) retreated 11.14% to $3.43.
Decliners include Timminco (TIM) tanking 14.65% to $4.31. Quadra Mining (QUA) dropping 12.79% to $3.07. First Majestic Silver (FR) losing 12.02% to $2.05. FNX Mining (FNX) down 10.45% to $3.60. Silver Wheaton (SLW) declining $8.89% to $6.76. Sherritt Intl. (S) slumping 8.74% to $3.55. Inmet Mining (IMN) down 8.61% to $23.26. Red Back Mining losing 8.16% to $6.87. First Quantum Minerals (FM) sank 6.78% to $22.00. Teck Cominco (TCK.B) dropped 6.38% to $6.60. Thomas Creek Metals (TCM) slumped 5.79% to $5.70. Ivanhoe Mines fell 5.21% to $3.64.
Roger Biduk writes:
The gold sector gave back 4.35 per cent as the February bullion contract moved down $34 to US$821 an ounce in New York. Goldcorp Inc. (TSX: G.TO) faded $1.98 to $30.40 and Barrick Gold Corp. (TSX: ABX.TO) surrendered $1.21 to $37.99.
Gainers were few in the sector with Horizons BetaPro S&P TSX Global Gold Bear Plus ETF (HGD) soared 7.57% to $13.93. This EFT is leveraged twice to the daily percentage decline of the price of gold and is the opposite of (HGU). Alamos Gold (AGI) rose 2.79% to $7.73.
Decliners include European Goldfields (EGU) tanking 10.65% to $2.60. Horizons BetaPro S&P TSX Global Gold Bull Plus ETF (HGU) dropped 8.06% to $9.47. This EFT is leveraged twice to the daily percentage gain of the price of gold and is the opposite of (HGD). Eldorado Gold (ELD) lost 7.14% to $8.59. Yamana Gold (YRI) losing 6.84% to $7.76. Iamgold (IMG) fell 5.47% to $6.57.
The financials sector was down three per cent as Royal Bank (TSX: RY.TO) fell $1.07 to $35.74 and CIBC (TSX: CM.TO) dropped $1.95 to $50.71. Bank of Nova Scotia (BNS) slumped 5.24% to $31.27.
All sectors were weak except for slight rises in the tech sector, thanks to Nortel Networks (TSX: NT.TO) rising 4.5 cents or 9.7 per cent to 51 cents on top of a 39 per cent surge on Friday.
Units in Bell Aliant (TSX: BA-UN.TO) rose 17 cents to $24 after it said it is cutting 500 management jobs in a move to streamline operations and improve its bottom line. Enghouse Systems (ESL) up 2.67% to $5.00.
Magna International (TSX: MG-A.TO) shares were 44 cents lower to $38.70 after the auto parts maker said it is teaming up with Ford Motor Co. to produce a fully electric car that will get up to 160 kilometres on a single charge. Magna said the car, based on the Ford Focus platform, will be on the market in 2011.
Other industrials like CAE (CAE) dropped 5.81% to $7.62. Bombardier (BBD.B) fell 5.51% to $4.46.
Other movers include Horizons Betapro S&P TSX 60 Bear Plus ETF (HXD) up 6.46% to $28.33. This ETF is leveraged twice the daily percentage downside of the index and is the opposite of (HXU). Brookfield Properties (BPO) lost 7.83% to $8.47. Finning Intl. down 6.69% to $13.94. Horizons Betapro S&P TSX 60 Bull Plus ETF (HXU) losing 6.52% to $10.75. This ETF is leveraged twice the daily percentage gain of the index and is the opposite of (HXD). Thompson Reuters (TRI) fell 5.04% to $29.20.
Fertilizer stocks tanked with the rest of the commodity market. Potash Corp., (TSX: POT.TO) tanked $11.20 or 11.1 per cent to $89.50. Agrium (AGU) slumped 8.07% to $38.84.
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