Roger Biduk:
That doesn’t make sense, does it?
North American stock markets surged Friday to a sharply higher close as investors looked past dismal employment news from Canada and the U.S. and ahead to the U.S. economic stimulus program and an announcement of aid for the financial sector.
Toronto's S&P/TSX composite index closed up 147.04 points to 9,008.02 - its first close above 9,000 since Jan. 9 and left the main index in positive territory for the year to date. The TSX gained 3.6 per cent on the week.
The TSX Venture Exchange added 11.12 points to 909.34.
The CDN$ closed up 0.37 of a cent to 81.6 cents U.S.
Statistics Canada said Canada lost a record 129,000 jobs last month, far more than the consensus expectation of 40,000, and the unemployment rate surged more than half a point to 7.2 per cent, the highest level since November 2004.
The drop in jobs was bigger than in any single month during the recessions of the early 1980s and 1990s.
The S&P/TSX Capped Divesified Metals & Mining Index racked up solid gains for a second day, jumping 5.93% as aluminum gained 2.26%, copper soared 8.57% and silver rose 3.22%
Quandra Mining (GSL) soared 13.51% to $3.95. Inmet Mining (IMN) jumped 11.11% to $26.11. PDX Resources (PLG) higher by 9.01% to $2.42. Hanfeng Evergreen (HF) rose 8.68% to $7.39. Gerdau AmeriSteel (GNA) up 7.05 to $8.50.
Roger Biduk:
The S&P/TSX Capped Financial index gained 1.83% ahead of an announcement from American Treasury Secretary Timothy Geithner on how the government will deploy the second half of a US$700-billion bank bailout as well as other help for financial players.
CIBC (TSX:CM) advanced $1.56 to $48.45 and National Bank (TSX:NA) improved $1.31 to $36.44.
TD Bank Financial Group (TSX:TD) confirmed it is raising its ownership of U.S. brokerage TD Ameritrade to 45 per cent from 39.9 per cent, at a cost of $515 million. TD shares were up 63 cents to $39.80.
Faircourt Split Trust (FCS.UN) soared 19.32% to $2.10. Brompton Lifeco Split Corp. (LCS) jumped $2.15. MI Developments (MIM.A) rose 14.29%. Plutonic Power Corp. (PCC) gained 12.27% to $2.47. GMP Capital Trust (GMP.UN) up 11.70% to $7.35. 5Banc Split Inc. (FBS.B) higher by 10.71%. Energy Savings Income Fund (SIF.UN) rose 9.37% to 10.62%. Dundee Corp. (DC.A) up by 8.85% to $5.48. Sentry Select Primary Metals C (PME) higher by 8.81% to $4.20. Canadian Western bank (CWB) up 6.82% to $11.75.
Seamark Asset Management Ltd. (SM) sank 6.36% to $2.06.
The S&P/TSX Energy Index was up 1.61% even as the huge job losses in the U.S. sent the March crude contract on the New York Mercantile Exchange down 2.43% to US$40.17 a barrel. Natural gas jumped 2.84% to $4.77.
Suncor Inc. (TSX:SU) was 83 cents higher to $25.49 and EnCana Corp. (TSX:ECA) gained 61 cents to $56.31.
The Ontario Teachers' Pension Plan has confirmed talks with Petro-Canada (TSX:PCA) about creating more value for shareholders. Petro-Canada shares were 21 cents better to $29.54.
North America Energy Partners (NOA) soared 15.36% to $3.53. Trinidad Drilling (TDG) jumped 14.50% to $3.00. Flint Energy Services Ltd. (FES) higher by 12.02% to $4.66. Niko Resources (NKO) up by 7.28% to $56.58. Gran Tierra Energy Inc. (GTE) rose 7.07% to $4.24.
The S&P/TSX Global Gold Index gained 1.98% as the April bullion contract on the Nymex gained $.10 to US$914.30 an ounce.
Greystar Resources ltd. (GSL) soared 14.29% to $2.80. Detour Gold Corp. (DGC) jumped 11.74% to $9.90. First Quantum Minerals ltd. (FM) rose 8.10% to $30.70.
Gabriel Resources Ltd. (GBU) sank 5.08% to $2.80 and Banro Corp.(BAA) dropped 6.73% to $2.08.
The TSX was supported by two of its largest companies. Research In Motion Ltd. (TSX:RIM) added $2.16 to $72.10 while Potash Corp. (TSX:POT) rose $4.70 to $110.80.
Roger Biduk:
Shares in Canwest Global Communications Corp. (TSX:CGS) were up seven cents to 49 cents on news it is seeking to sell five TV stations. Analysts say it's unlikely the company will find a buyer in the current recession, and a money-saving closure is more likely.
The S&P/TSX Capped Information Technology Index was up 2.75% and the S&P/TSX Capped Telecom Services Index was up .27%.
CryptoLogic Ltd. (CRY) soared 11.61% to $7.40. Aastra Technologies Ltd. (AAH) jumped $9.25% to $12.05. AXIA NetMedia Corp. (AXX) rose 6.53% to $2.12. Gennum Corp. (GND) sank 5.12% to $4.08
The S&P/TSX Consumer Discretionary Index was up 1.15% and the S&P/TSX Consumer Staples Index was down 1.37%.
Viterra Inc. (VT) rose 5.20% to $10.52.
The S&P/TSX Capped Health Care Index was lower by .79%.
The S&P/TSX Capped Utilities Index rose 1.42%.
The S&P/TSX Capped Industrial Index was up 2.27%.
Sino-Forest Corp. (TRE) jumped 13.44% to $11.14. ADF Group Inc. (DRX) jumped 9.04% to $2.05.
JDS Uniphase Canada Ltd. (JDU) sank 6.05% to $4.66. Heroux-Devtek (HRX) down by 6.25% to $4.50.
H
In the service sector, MacDonald, Dettwiler and Assoc. (MDA) soared 11.29% to $25.93. Transat A.T. (TRZ.B) jumped 8.03% to $10.49. Reitmans Canada (RET) rose 5.39% to $9.19. Stantec (STN) gained 5.32% to $29.10. Intermap Technologies (IMP) up 5.00% to $2.10.
Softchoice Corp. (SO) down 7.78% to $2.49. Brick Group Income Fund (BRK.UN) tanked 10.28% to $2.53.
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Sunday, February 8, 2009
Wednesday, February 4, 2009
Roger Biduk; Bay Street Flat
Roger Biduk;
The Toronto stock market erased early losses to eke out a slightly higher close Tuesday thanks largely to a late-day revival in the financial and base metals sectors.
Toronto's S&P/TSX composite index inched up 3.8 points to 8,628.63. The Venture index was down 3.57 points to 859.25.
The CDN$ rose 0.88 of a cent to 81.29 cents US.
The S&P/TSX Capped Financial index gained .68% as Kingsway Financial Services (KFS) soared 10.12%. Resverlogix Corp. (RVX) jumped 8.88% to $2.82. Dundee Corp. (DC.A) ran up 8.07% to $5.49. Chartwell Seniors Housing (CSH.UN) gained 6.43% to $5.79. Dundee Real Estate Investment (D.UN) up 6.32% to $13.45.
Royal Host Real Estate Investment Trust (RYL.UN) dropped 5.07% to $3.18. Parkbridge Lifestyle Communities Inc. (PRK) dropped 7.28% to $2.80. Chemtrade Logistics Income fund (CHE.UN) tanked 8.70% to $8.81.
The S&P/TSX Energy Index was off .33% as the March crude contract on the New York Mercantile Exchange added 1.75% to US$40.78 a barrel. Natural gas sank .97% to $4.50.
Major Drilling Group (MDI) soared 13.87% to $14.53. Gran Tierra Energy (GTE) jumped 9.71% to $3.84. Pacific Rubiales Energy Corp. (PRE) was up 9.35% to $2.69. Petro Andina Resources Inc. (PAR) was up 9.08% to $6.49. Petrominerales Ltd. (PMG) higher by 5.55% to $7.80.
Total Energy Services Trust (TOT.UN) sank 6.94% to $3.35.
The S&P/TSX Global Gold Index lost .48% as the February bullion contract on the Nymex tanked $14.70 to US$892.50 an ounce.
Novagold Resources Inc. (NG) soared 7.75% to $4.31. First Quantum Minerals Ltd. (FM) jumped 7.55% to $23.80. Kirkland Lake Gold (KGI) gained 7.21% to $5.50.
Detour Gold Corp. (DGC) dropped 5.00% to $8.17. Markland AGF Precious Metals (MPM) sank 5.80% to $5.20. Virginia Mines (VGQ) dropped 5.83% to $4.04.
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.40% and the S&P/TSX Capped Telecom Index was up .68%.
EXFO Electro-Optical Engineering (EXF) jumped 13.44% to $4.81. AXIA NetMedia Corp. (AXX) up 6.95% to $2.00. Mosaid Technologies Inc. (MSD) higher by 6.91% to $10.21.
The S&P/TSX Consumer Discretionary Index was up .36% and the S&P/TSX Consumer Staples Index was down .16%.
Winpak (WPK) tanked 6.01% to $6.57.
The S&P/TSX Capped Health Care Index was lower by .29%.
The S&P/TSX Capped Utilities Index dropped 1.20%.
The S&P/TSX Capped Industrial Index was up .96%.
ATS Automation Tooling Systems (ATA) gained 5.62% to $4.51. Sino-Forest Corp. (TRE) was up 5.06% to $9.13.
Martinrea International inc. (MRE) dropped 5.24% to $2.35. Canam Group Inc. (CAM) sank 7.39% to $6.39.
The S&P/TSX Capped Divesified Metals & Mining Index jumped 2.31% as aluminum gained 1.56%, copper soared 6.36% and silver dropped .93%.
Gerdau AmerSteel Corp. (GNA) rose 8.51% to $7.65.
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The Toronto stock market erased early losses to eke out a slightly higher close Tuesday thanks largely to a late-day revival in the financial and base metals sectors.
Toronto's S&P/TSX composite index inched up 3.8 points to 8,628.63. The Venture index was down 3.57 points to 859.25.
The CDN$ rose 0.88 of a cent to 81.29 cents US.
The S&P/TSX Capped Financial index gained .68% as Kingsway Financial Services (KFS) soared 10.12%. Resverlogix Corp. (RVX) jumped 8.88% to $2.82. Dundee Corp. (DC.A) ran up 8.07% to $5.49. Chartwell Seniors Housing (CSH.UN) gained 6.43% to $5.79. Dundee Real Estate Investment (D.UN) up 6.32% to $13.45.
Royal Host Real Estate Investment Trust (RYL.UN) dropped 5.07% to $3.18. Parkbridge Lifestyle Communities Inc. (PRK) dropped 7.28% to $2.80. Chemtrade Logistics Income fund (CHE.UN) tanked 8.70% to $8.81.
The S&P/TSX Energy Index was off .33% as the March crude contract on the New York Mercantile Exchange added 1.75% to US$40.78 a barrel. Natural gas sank .97% to $4.50.
Major Drilling Group (MDI) soared 13.87% to $14.53. Gran Tierra Energy (GTE) jumped 9.71% to $3.84. Pacific Rubiales Energy Corp. (PRE) was up 9.35% to $2.69. Petro Andina Resources Inc. (PAR) was up 9.08% to $6.49. Petrominerales Ltd. (PMG) higher by 5.55% to $7.80.
Total Energy Services Trust (TOT.UN) sank 6.94% to $3.35.
The S&P/TSX Global Gold Index lost .48% as the February bullion contract on the Nymex tanked $14.70 to US$892.50 an ounce.
Novagold Resources Inc. (NG) soared 7.75% to $4.31. First Quantum Minerals Ltd. (FM) jumped 7.55% to $23.80. Kirkland Lake Gold (KGI) gained 7.21% to $5.50.
Detour Gold Corp. (DGC) dropped 5.00% to $8.17. Markland AGF Precious Metals (MPM) sank 5.80% to $5.20. Virginia Mines (VGQ) dropped 5.83% to $4.04.
Roger Biduk:
The S&P/TSX Capped Information Technology Index was down 1.40% and the S&P/TSX Capped Telecom Index was up .68%.
EXFO Electro-Optical Engineering (EXF) jumped 13.44% to $4.81. AXIA NetMedia Corp. (AXX) up 6.95% to $2.00. Mosaid Technologies Inc. (MSD) higher by 6.91% to $10.21.
The S&P/TSX Consumer Discretionary Index was up .36% and the S&P/TSX Consumer Staples Index was down .16%.
Winpak (WPK) tanked 6.01% to $6.57.
The S&P/TSX Capped Health Care Index was lower by .29%.
The S&P/TSX Capped Utilities Index dropped 1.20%.
The S&P/TSX Capped Industrial Index was up .96%.
ATS Automation Tooling Systems (ATA) gained 5.62% to $4.51. Sino-Forest Corp. (TRE) was up 5.06% to $9.13.
Martinrea International inc. (MRE) dropped 5.24% to $2.35. Canam Group Inc. (CAM) sank 7.39% to $6.39.
The S&P/TSX Capped Divesified Metals & Mining Index jumped 2.31% as aluminum gained 1.56%, copper soared 6.36% and silver dropped .93%.
Gerdau AmerSteel Corp. (GNA) rose 8.51% to $7.65.
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Monday, February 2, 2009
Roger Biduk; Bay Street Lower on Bad Economic News - More to come
Roger Biduk:
Stock markets closed lower Friday in the face of figures showing deepening economic contraction, the possible impact of "buy America" restrictions in the U.S. economic stimulus package and rapidly worsening conditions in Japan.
Toronto's S&P/TSX composite index closed down 67.86 points to 8,694.90 to end the week up a slight 67 points. It ended the month down 293 points or 3.25 per cent, weighed down by a 7.5 per cent slide in financials.
The TSX Venture Exchange edged up 2.09 points to 882.63.
The CDN$ moved down 0.22 cent to 81.53 cents US as Statistics Canada said gross domestic product fell 0.7 per cent in November, with declines across almost all sectors.
Roger Biduk:
Meanwhile the Statistics Canada report showed manufacturing, wholesale trade, construction and real estate led the November GDP decline.
The S&P/TSX Capped Financial index dropped .21% as National Bank (TSX:NA) gave back 98 cents to $34.22. However, the sector is up for the week on hopes that the U.S. will create a bank to buy up toxic or illiquid assets from American banks. The Wall Street Journal reported that top officials are mulling a plan that would use a two-pronged approach of buying a portion of banks' "bad" assets while also guaranteeing against future losses on some of the remainder.
Allied Properties Real Estate (AP.UN) was higher by 5.57% to $12.50. Canadian western Bank (CWB) up 5.02% to $11.93. Sentry Select Primary Metals (PME) soared 9.97% to $3.75.
Brookfield Properties Corp. (BPO) sank 6.86% to $6.52. Canadian Helicopters Income fund (CHL.UN) dropped 6.67% to $7.70. Coventree Inc. (COF) down 5.47% to $3.63. Livingston International Income Trust (LIV.UN) tanking 13.53% to $5.75. Northern Property Real Estate Income Trust (NPR.UN) dropped 6.03% to $16.35. Morguard Real Estate income Trust (MRT.UN) down 5.29% to $8.95.
The S&P/TSX Energy Index was off 1.33% as the March crude contract on the New York Mercantile Exchange added 24 cents to US$41.68 a barrel. Natural gas sank 3.47% to $4.42.
Petro-Canada (TSX:PCA) shed 97 cents to $26.59 and EnCana Corp. (TSX:ECA) declined 62 cents to $54.571. Enerplus Resources Fund (TSX:ERF.UN) said low oil prices are prompting it to reduce distributions for the second time in as many months, to 18 cents per unit from 25 cents. Its units were $1.31 lower to $25.44. Exxon Mobil reported a profit of US$45.2 billion for 2008, breaking its own record for full-year earnings by a U.S. company. But fourth-quarter profits tumbled 33 per cent as oil prices plunged 60 per cent during the period. Its shares fell 52 cents to $76.48.
Niko Resources (NKO) soared 10.86% to $50.44. Petro Andina Resources (PAR) up 10.49% to $5.69. Phoenix Technology Income fund (PHX.UN) soaring 19.07% to $8.93. Petrominerales (PMG) up 9.59% to $6.74. Pacific Rubiales Energy (PRE) up 5.10% to $2.68.
Roger Biduk:
The S&P/TSX Global Gold Index gained .20% as the February bullion contract on the Nymex moved up $22.20 to US$927.30 an ounce.
Markland AGF Precious Metals (PMP) soared 29.22% to $6.50. Guyana Goldfields (GUY) jumped 18.88% to $2.96. Centerra Gold (CG) gained 12.26% to $6.15. Queenston Mining (QMI) up 10.38% to $3.51. US Gold Corp. (UXG) higher by 8.14% to $2.39. Allied Nevada Gold Corp. (ANV) up 8.08% to $6.15. Comaplex Minerals Corp. (CMF) up 6.43% to $3.13. European Goldfields (EGU) up 5.35% to $3.15.
The S&P/TSX Capped Information Technology Index was up .24% and the S&P/TSX Capped Telecom Index was up .17%.
EXFO Electro-Optical Engineering (EXF) jumped 9.64% to $4.43. Torstar Corp. (TS.B) gained 5.63% to $8.25.
The S&P/TSX Consumer Discretionary Index was down 1.08% and the S&P/TSX Consumer Staples Index was up .95%.
The S&P/TSX Capped Health Care Index jumped 2.44%.
QLT Inc. (QLT) gained 4.15% to $2.76. BioMS Medical Corp. (MS) tanking 30.32% to $2.39.
The S&P/TSX Capped Utilities Index dropped .25%.
The S&P/TSX Capped Industrial Index was down 1.70%.
Martinrea International (MRE) jumped 10.00% to $2.75. Canfor Corp. (CFP) jumped 6.62% to $7.25.
The S&P/TSX Capped Divesified Metals & Mining Index sank 2.81% as Aluminum dropped 1.56%, Copper gained .75% and silver jumped 3.46%. CIC Energy (ELC) soared 12.55% to $2.60. First Uranium Corp. (FIU) jumped 12.50% to $4.50. Quadra Mining (QUA) higher by 9.03% to $3.38. New Gold (NGD) up 8.79% to $2.60. Osisko Mining (OSK) up 8.77% to $5.21. Comaplex Minerals (CMF) higher by 6.43% to $3.31. Teck Cominco Ltd. (TSX:TCK.B) moved down 9.37% to $4.74.
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Stock markets closed lower Friday in the face of figures showing deepening economic contraction, the possible impact of "buy America" restrictions in the U.S. economic stimulus package and rapidly worsening conditions in Japan.
Toronto's S&P/TSX composite index closed down 67.86 points to 8,694.90 to end the week up a slight 67 points. It ended the month down 293 points or 3.25 per cent, weighed down by a 7.5 per cent slide in financials.
The TSX Venture Exchange edged up 2.09 points to 882.63.
The CDN$ moved down 0.22 cent to 81.53 cents US as Statistics Canada said gross domestic product fell 0.7 per cent in November, with declines across almost all sectors.
Roger Biduk:
Meanwhile the Statistics Canada report showed manufacturing, wholesale trade, construction and real estate led the November GDP decline.
The S&P/TSX Capped Financial index dropped .21% as National Bank (TSX:NA) gave back 98 cents to $34.22. However, the sector is up for the week on hopes that the U.S. will create a bank to buy up toxic or illiquid assets from American banks. The Wall Street Journal reported that top officials are mulling a plan that would use a two-pronged approach of buying a portion of banks' "bad" assets while also guaranteeing against future losses on some of the remainder.
Allied Properties Real Estate (AP.UN) was higher by 5.57% to $12.50. Canadian western Bank (CWB) up 5.02% to $11.93. Sentry Select Primary Metals (PME) soared 9.97% to $3.75.
Brookfield Properties Corp. (BPO) sank 6.86% to $6.52. Canadian Helicopters Income fund (CHL.UN) dropped 6.67% to $7.70. Coventree Inc. (COF) down 5.47% to $3.63. Livingston International Income Trust (LIV.UN) tanking 13.53% to $5.75. Northern Property Real Estate Income Trust (NPR.UN) dropped 6.03% to $16.35. Morguard Real Estate income Trust (MRT.UN) down 5.29% to $8.95.
The S&P/TSX Energy Index was off 1.33% as the March crude contract on the New York Mercantile Exchange added 24 cents to US$41.68 a barrel. Natural gas sank 3.47% to $4.42.
Petro-Canada (TSX:PCA) shed 97 cents to $26.59 and EnCana Corp. (TSX:ECA) declined 62 cents to $54.571. Enerplus Resources Fund (TSX:ERF.UN) said low oil prices are prompting it to reduce distributions for the second time in as many months, to 18 cents per unit from 25 cents. Its units were $1.31 lower to $25.44. Exxon Mobil reported a profit of US$45.2 billion for 2008, breaking its own record for full-year earnings by a U.S. company. But fourth-quarter profits tumbled 33 per cent as oil prices plunged 60 per cent during the period. Its shares fell 52 cents to $76.48.
Niko Resources (NKO) soared 10.86% to $50.44. Petro Andina Resources (PAR) up 10.49% to $5.69. Phoenix Technology Income fund (PHX.UN) soaring 19.07% to $8.93. Petrominerales (PMG) up 9.59% to $6.74. Pacific Rubiales Energy (PRE) up 5.10% to $2.68.
Roger Biduk:
The S&P/TSX Global Gold Index gained .20% as the February bullion contract on the Nymex moved up $22.20 to US$927.30 an ounce.
Markland AGF Precious Metals (PMP) soared 29.22% to $6.50. Guyana Goldfields (GUY) jumped 18.88% to $2.96. Centerra Gold (CG) gained 12.26% to $6.15. Queenston Mining (QMI) up 10.38% to $3.51. US Gold Corp. (UXG) higher by 8.14% to $2.39. Allied Nevada Gold Corp. (ANV) up 8.08% to $6.15. Comaplex Minerals Corp. (CMF) up 6.43% to $3.13. European Goldfields (EGU) up 5.35% to $3.15.
The S&P/TSX Capped Information Technology Index was up .24% and the S&P/TSX Capped Telecom Index was up .17%.
EXFO Electro-Optical Engineering (EXF) jumped 9.64% to $4.43. Torstar Corp. (TS.B) gained 5.63% to $8.25.
The S&P/TSX Consumer Discretionary Index was down 1.08% and the S&P/TSX Consumer Staples Index was up .95%.
The S&P/TSX Capped Health Care Index jumped 2.44%.
QLT Inc. (QLT) gained 4.15% to $2.76. BioMS Medical Corp. (MS) tanking 30.32% to $2.39.
The S&P/TSX Capped Utilities Index dropped .25%.
The S&P/TSX Capped Industrial Index was down 1.70%.
Martinrea International (MRE) jumped 10.00% to $2.75. Canfor Corp. (CFP) jumped 6.62% to $7.25.
The S&P/TSX Capped Divesified Metals & Mining Index sank 2.81% as Aluminum dropped 1.56%, Copper gained .75% and silver jumped 3.46%. CIC Energy (ELC) soared 12.55% to $2.60. First Uranium Corp. (FIU) jumped 12.50% to $4.50. Quadra Mining (QUA) higher by 9.03% to $3.38. New Gold (NGD) up 8.79% to $2.60. Osisko Mining (OSK) up 8.77% to $5.21. Comaplex Minerals (CMF) higher by 6.43% to $3.31. Teck Cominco Ltd. (TSX:TCK.B) moved down 9.37% to $4.74.
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Wednesday, January 28, 2009
Roger Biduk; Four in a Row for Bay Street
Roger Biduk
The Toronto stock market's winning streak extended to a fourth session on Wednesday as financials continued to rise after reports that a "bad bank" could be created in the United States to buy toxic or illiquid assets to help free up the credit market.
Toronto's S&P/TSX composite index closed up 146.60 points to 8,906.23 as investors also took in plans by Ottawa for billions of dollars in stimulus spending.
The TSX Venture Exchange inched up 2.05 points to 869.92.
The Canadian dollar advanced despite the fact that the deficit is estimated at $34 billion in fiscal 2009 and $30 billion in 2010. The loonie was up 0.74 cent to 82.29 cents US after running as high as 83.16 cents US.
The Toronto financial sector ran ahead four per cent with Royal Bank (TSX:RY) up $1.01 to $31.67 and Scotiabank (TSX:BNS) advanced $1.57 to $31.17.
Shares in AGF Management Ltd. (TSX:AGF.B) were off 12 cents to $8.40 after the investment management firm slid to a fourth-quarter loss of $19.3 million as it took $46.3 million in impairment charges related to weakness in financial markets.
Roger Biduk
The TSX energy sector moved up more than two per cent as the March crude contract on the New York Mercantile Exchange finished the session 58 cents higher at US$42.16 a barrel.
EnCana Corp. (TSX:ECA) rose $2.68 to $57.22 while Suncor Inc. (TSX:SU) headed up $1.20 to $25.10.
UTS Energy Corp. (TSX:UTS) jumped 90 cents or 108 per cent to $1.73 after French energy giant Total made a $617-million all-cash bid to buy the Calgary company. The unsolicited bid is $1.30 per share, and the market price indicates a higher offer is expected for UTS, which owns 20 per cent of the Fort Hills oilsands project. Petro-Canada (TSX:PCA) has a 60 per cent stake in the project. Its shares rose 74 cents to $28.70 while Teck Cominco (TSX:TCK.B), which owns 20 per cent of Fort Hills, climbed 35 cents to $5.95.
The gold sector fell 3.5 per cent as the March bullion contract in New York moved down $to US$an ounce. Goldcorp Inc. (TSX:G) declined $1.62 to $33.77 .
Elsewhere on the TSX, Liquidation World Inc. (TSX:LQW) rose 15 cents to 90 cents after a deal to acquire the U.S. wholesale business of Talon Merchant Capital LLC, issuing $7.6 million worth of shares to the U.S. private equity firm.
Shares in Air Canada (TSX:AC.A) rose five cents to $2.35 even as a majority of 5,000 customer service and sales agents represented by the Canadian Auto Workers union members rejected a tentative agreement. The current collective agreement remains in effect until May 31, so no immediate impact on service is expected. And shares in TMX Group Inc. (TSX:X) declined 74 cents to $31.36 after Canada's dominant financial market operator reported a fourth-quarter profit of $49 million, up 61 per cent from a year earlier, as revenue grew 36 per cent, largely because of the merger with the Montreal Exchange.
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The Toronto stock market's winning streak extended to a fourth session on Wednesday as financials continued to rise after reports that a "bad bank" could be created in the United States to buy toxic or illiquid assets to help free up the credit market.
Toronto's S&P/TSX composite index closed up 146.60 points to 8,906.23 as investors also took in plans by Ottawa for billions of dollars in stimulus spending.
The TSX Venture Exchange inched up 2.05 points to 869.92.
The Canadian dollar advanced despite the fact that the deficit is estimated at $34 billion in fiscal 2009 and $30 billion in 2010. The loonie was up 0.74 cent to 82.29 cents US after running as high as 83.16 cents US.
The Toronto financial sector ran ahead four per cent with Royal Bank (TSX:RY) up $1.01 to $31.67 and Scotiabank (TSX:BNS) advanced $1.57 to $31.17.
Shares in AGF Management Ltd. (TSX:AGF.B) were off 12 cents to $8.40 after the investment management firm slid to a fourth-quarter loss of $19.3 million as it took $46.3 million in impairment charges related to weakness in financial markets.
Roger Biduk
The TSX energy sector moved up more than two per cent as the March crude contract on the New York Mercantile Exchange finished the session 58 cents higher at US$42.16 a barrel.
EnCana Corp. (TSX:ECA) rose $2.68 to $57.22 while Suncor Inc. (TSX:SU) headed up $1.20 to $25.10.
UTS Energy Corp. (TSX:UTS) jumped 90 cents or 108 per cent to $1.73 after French energy giant Total made a $617-million all-cash bid to buy the Calgary company. The unsolicited bid is $1.30 per share, and the market price indicates a higher offer is expected for UTS, which owns 20 per cent of the Fort Hills oilsands project. Petro-Canada (TSX:PCA) has a 60 per cent stake in the project. Its shares rose 74 cents to $28.70 while Teck Cominco (TSX:TCK.B), which owns 20 per cent of Fort Hills, climbed 35 cents to $5.95.
The gold sector fell 3.5 per cent as the March bullion contract in New York moved down $to US$an ounce. Goldcorp Inc. (TSX:G) declined $1.62 to $33.77 .
Elsewhere on the TSX, Liquidation World Inc. (TSX:LQW) rose 15 cents to 90 cents after a deal to acquire the U.S. wholesale business of Talon Merchant Capital LLC, issuing $7.6 million worth of shares to the U.S. private equity firm.
Shares in Air Canada (TSX:AC.A) rose five cents to $2.35 even as a majority of 5,000 customer service and sales agents represented by the Canadian Auto Workers union members rejected a tentative agreement. The current collective agreement remains in effect until May 31, so no immediate impact on service is expected. And shares in TMX Group Inc. (TSX:X) declined 74 cents to $31.36 after Canada's dominant financial market operator reported a fourth-quarter profit of $49 million, up 61 per cent from a year earlier, as revenue grew 36 per cent, largely because of the merger with the Montreal Exchange.
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Saturday, January 24, 2009
Roger Biduk; Metals and Energy Take Bay Street Higher
Roger Biduk writes:
The financial sector held limited the gains on Bay Street but mining and energy stocks were strong.
Toronto's S&P/TSX composite index rose 141.41 points to 8,627.97 for a loss of 292 points or 3.25 per cent this week, led by sliding financials.
The TSX Venture Exchange was 9.48 points ahead to 859.69.
The CDN$ rose 1.46 cents to 81.22 cents US as new data showed inflation slowed to the lowest pace in two years last month, thanks largely to falling energy prices. Statistics Canada says annual inflation dipped to 1.2 per cent in December, down from November's two per cent rate.
The S&P/TSX Capped Industrial Index was higher by .36%.
Canadian National Railway (TSX:CNR) rose $1.79 to $41.74 after it raised its dividend by 10 per cent. CN's fourth-quarter profit of $573 million was down from a year ago, but this was mainly because of big gains in the year-earlier period, and the results beat market expectations.
Heroux-Deytek (HRX) jumped 13.33% to $5.44.
The S&P/TSX Capped Financial Index dropped .75% after already losing 9% for the week. The Royal Bank (TSX:RY) fell $1.99 to $28.08 after an analyst questioned the financial health of the bank. CIBC (TSX:CM) gained 75 cents to $44. Franco-Nevada (FNV) gained 13.86% to $4.60. Sentry Select Primary Metals (PME) soared 9.75% to $3.49. Baytex Energy Trust (BTE.UN) gained 9.37% to $16.34. Canadian Oil Sands Trust (COS.UN) gained 8.55% to $18.40. Manulife Financial (MFC) gained 5.45% to $20.14. Dynasty Metals & Minerals (DMM) up 5.10% to $4.33.
Urbava Corp. (URB) tanked 10.13% to $2.13. Parksbridge Lifestyle (PRK) sank 8.33% to $2.75. Acuity Small Cap corp. (ASF) lost 7.52% to $2.46. Macquarie Power & Infrastructure (MPT.UN) down 5.39% to $5.79.
Roger Biduk:
The S&P/TSX Energy Index rose 3.54% as the March crude contract on the New York Mercantile Exchange gained $2.80 to US$46.47. Natural gas declining 3.63% to $4.49. Suncor Inc. (TSX:SU) jumped 5.15% to $24.10 and EnCana Corp. (TSX:ECA) improved $1.75 to $54.50. Petrominerales (PMG) gained 5.17% to $5.70. Pason Systems (PSI) soared 9.55% to $12.16.
The S&P/TSX Global Gold Index soared 7.84% as the February bullion contract in New York jumped $37 to US$895/80 an ounce. Goldcorp Inc. (TSX:G) gained $2.98 to $36.25 and Barrick Gold Corp. (TSX:ABX) moved up $4.09 to $48.79. NovaGold Res. (NG) soared 16.88% to $2.77. Kirkland Lake (KGI) jumped 15.03% to $5.28. Richmont Mines (RIC) moved 11.72% higher to $3.05. Detour Gold (DGC) up 9.55% to $8.26. Agnico-Eagle Mines (AEM) up 7.79% to $69.49. Kindross Gold (K.WT.B) up 7.27% to $3.45. Royal Gold (RGL) higher by 7.15% to $59.79. Centerra Gold (CG) up 7.06% to $4.55. Newmount Mining (NMC) rose 6.91% to $54.79. Queenston Mining (QMI) higher by 6.64% to $3.05. Virginia Mines (VGQ) moved up 6.23% to $3.58. Jaguar Mining (JAG) up 5.46% to $6.95.
The S&P Capped Diversified Metals and Minerals Index rose 2.96% as copper jumped 5.44% to $1.47. Silver gained 5.06% to $11.94 and aluminum was .81% higher to $.62. with Teck Cominco Ltd. (TSX:TCK.B) ahead 32 cents to $5.61.
HudBay Minerals Inc. (TSX:HBM) surged 85 cents or 24 per cent to $4.37 after the Ontario Securities Commission ruled its shareholders must be allowed to vote on its proposed highly dilutive all-stock takeover of Lundin Mining Corp. (TSX:LUN). Lundin shares dropped 27 cents or 23 per cent to 92 cents. Ivanhoe Mines (IVN) sank 5.68% to $3.49. Osisko Mines (OSK) soaring $16.46% to $4.60. Fronteer Dev. Gr. (FRG) up 13.33% to $2.72. Aurora Energy Res. (AXU) jumped 9.05% to $2.17.
Sprott Res. (SCP) gained 8.89% to $2.45. Pan American Silver (PAA) moved 7.95% higher to $22.14. Altius Minerals (ALS) up 7.88% to $4.93%. Silver Wheaton (SLW) up 6.94% to $8.47.
Roger Biduk:
The S&P/TSX Consumer Discretionary Index was down .22% and the S&P/TSX Consumer Staples Index was down .12%.
AlarmForce Ind. (AF) sank 5.17% to $3.85. Cascades Inc. (CAS) down 5.53% and Sub-Rype Products (SRF) tanked 8.76% to $6.56. Hammond Power Solutions (HPS.A) jumped 11.56% to $8.49. High Liner Foods (HLF) higher by 5.72% to $7.95.
The S&P/TSX Capped Information Technology Index was down .53% and the S&P/TSX Capped Telecom Index was up .03%.
Encryption technology company Certicom Corp. (TSX:CIC) has reached a $92-million deal to be purchased by California-based VeriSign Inc. The deal trumps the hostile bid that BlackBerry-maker Research In Motion (TSX:RIM) was forced to withdraw by an Ontario court order. However analysts say it doesn't keep RIM from returning with a friendly counteroffer. Certicom stocks jumped 67 cents or 40 per cent to $2.34.
Bridgewater Systems Corp. (BWC) tanked 16.30% to $2.31. Mosaid Technologies (MSD) sank 11.37% to $8.65.
The S&P/TSX Capped Health Care Index sank 1.96%.
Amica Mature Lifestyles (ACC) gained 5.53% to $4.01. Cangene Corp. (CNJ) up 5.73% to $5.63.
In the service sector, Softchoice Corp. (SO) tanked 15.44% to $2.41. Vitran Corp. (VTN) sank 10.88% to $5.16. Transcontental Inc. (TCL.A) dropped 5.75% to $8.85. Coast Wholesale Appliance (CWA.UN) soared14.53% to $3.31. Sterling Shoes Income Fund (SSI.UN) rose 7.00% to $2.14.
The S&P/TSX Capped Utilities Index dropped 1.29%.
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The financial sector held limited the gains on Bay Street but mining and energy stocks were strong.
Toronto's S&P/TSX composite index rose 141.41 points to 8,627.97 for a loss of 292 points or 3.25 per cent this week, led by sliding financials.
The TSX Venture Exchange was 9.48 points ahead to 859.69.
The CDN$ rose 1.46 cents to 81.22 cents US as new data showed inflation slowed to the lowest pace in two years last month, thanks largely to falling energy prices. Statistics Canada says annual inflation dipped to 1.2 per cent in December, down from November's two per cent rate.
The S&P/TSX Capped Industrial Index was higher by .36%.
Canadian National Railway (TSX:CNR) rose $1.79 to $41.74 after it raised its dividend by 10 per cent. CN's fourth-quarter profit of $573 million was down from a year ago, but this was mainly because of big gains in the year-earlier period, and the results beat market expectations.
Heroux-Deytek (HRX) jumped 13.33% to $5.44.
The S&P/TSX Capped Financial Index dropped .75% after already losing 9% for the week. The Royal Bank (TSX:RY) fell $1.99 to $28.08 after an analyst questioned the financial health of the bank. CIBC (TSX:CM) gained 75 cents to $44. Franco-Nevada (FNV) gained 13.86% to $4.60. Sentry Select Primary Metals (PME) soared 9.75% to $3.49. Baytex Energy Trust (BTE.UN) gained 9.37% to $16.34. Canadian Oil Sands Trust (COS.UN) gained 8.55% to $18.40. Manulife Financial (MFC) gained 5.45% to $20.14. Dynasty Metals & Minerals (DMM) up 5.10% to $4.33.
Urbava Corp. (URB) tanked 10.13% to $2.13. Parksbridge Lifestyle (PRK) sank 8.33% to $2.75. Acuity Small Cap corp. (ASF) lost 7.52% to $2.46. Macquarie Power & Infrastructure (MPT.UN) down 5.39% to $5.79.
Roger Biduk:
The S&P/TSX Energy Index rose 3.54% as the March crude contract on the New York Mercantile Exchange gained $2.80 to US$46.47. Natural gas declining 3.63% to $4.49. Suncor Inc. (TSX:SU) jumped 5.15% to $24.10 and EnCana Corp. (TSX:ECA) improved $1.75 to $54.50. Petrominerales (PMG) gained 5.17% to $5.70. Pason Systems (PSI) soared 9.55% to $12.16.
The S&P/TSX Global Gold Index soared 7.84% as the February bullion contract in New York jumped $37 to US$895/80 an ounce. Goldcorp Inc. (TSX:G) gained $2.98 to $36.25 and Barrick Gold Corp. (TSX:ABX) moved up $4.09 to $48.79. NovaGold Res. (NG) soared 16.88% to $2.77. Kirkland Lake (KGI) jumped 15.03% to $5.28. Richmont Mines (RIC) moved 11.72% higher to $3.05. Detour Gold (DGC) up 9.55% to $8.26. Agnico-Eagle Mines (AEM) up 7.79% to $69.49. Kindross Gold (K.WT.B) up 7.27% to $3.45. Royal Gold (RGL) higher by 7.15% to $59.79. Centerra Gold (CG) up 7.06% to $4.55. Newmount Mining (NMC) rose 6.91% to $54.79. Queenston Mining (QMI) higher by 6.64% to $3.05. Virginia Mines (VGQ) moved up 6.23% to $3.58. Jaguar Mining (JAG) up 5.46% to $6.95.
The S&P Capped Diversified Metals and Minerals Index rose 2.96% as copper jumped 5.44% to $1.47. Silver gained 5.06% to $11.94 and aluminum was .81% higher to $.62. with Teck Cominco Ltd. (TSX:TCK.B) ahead 32 cents to $5.61.
HudBay Minerals Inc. (TSX:HBM) surged 85 cents or 24 per cent to $4.37 after the Ontario Securities Commission ruled its shareholders must be allowed to vote on its proposed highly dilutive all-stock takeover of Lundin Mining Corp. (TSX:LUN). Lundin shares dropped 27 cents or 23 per cent to 92 cents. Ivanhoe Mines (IVN) sank 5.68% to $3.49. Osisko Mines (OSK) soaring $16.46% to $4.60. Fronteer Dev. Gr. (FRG) up 13.33% to $2.72. Aurora Energy Res. (AXU) jumped 9.05% to $2.17.
Sprott Res. (SCP) gained 8.89% to $2.45. Pan American Silver (PAA) moved 7.95% higher to $22.14. Altius Minerals (ALS) up 7.88% to $4.93%. Silver Wheaton (SLW) up 6.94% to $8.47.
Roger Biduk:
The S&P/TSX Consumer Discretionary Index was down .22% and the S&P/TSX Consumer Staples Index was down .12%.
AlarmForce Ind. (AF) sank 5.17% to $3.85. Cascades Inc. (CAS) down 5.53% and Sub-Rype Products (SRF) tanked 8.76% to $6.56. Hammond Power Solutions (HPS.A) jumped 11.56% to $8.49. High Liner Foods (HLF) higher by 5.72% to $7.95.
The S&P/TSX Capped Information Technology Index was down .53% and the S&P/TSX Capped Telecom Index was up .03%.
Encryption technology company Certicom Corp. (TSX:CIC) has reached a $92-million deal to be purchased by California-based VeriSign Inc. The deal trumps the hostile bid that BlackBerry-maker Research In Motion (TSX:RIM) was forced to withdraw by an Ontario court order. However analysts say it doesn't keep RIM from returning with a friendly counteroffer. Certicom stocks jumped 67 cents or 40 per cent to $2.34.
Bridgewater Systems Corp. (BWC) tanked 16.30% to $2.31. Mosaid Technologies (MSD) sank 11.37% to $8.65.
The S&P/TSX Capped Health Care Index sank 1.96%.
Amica Mature Lifestyles (ACC) gained 5.53% to $4.01. Cangene Corp. (CNJ) up 5.73% to $5.63.
In the service sector, Softchoice Corp. (SO) tanked 15.44% to $2.41. Vitran Corp. (VTN) sank 10.88% to $5.16. Transcontental Inc. (TCL.A) dropped 5.75% to $8.85. Coast Wholesale Appliance (CWA.UN) soared14.53% to $3.31. Sterling Shoes Income Fund (SSI.UN) rose 7.00% to $2.14.
The S&P/TSX Capped Utilities Index dropped 1.29%.
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Thursday, January 22, 2009
Roger Biduk; Financials Slam Bay Street
Roger Biduk writes:
You’ll see red right across the numbers as all the major North American indexes closed lower today.
Banks got sold off again (as they should be…watch FAZ (+15.73% today) when the financials tank & FAS when they rise.)
Even Microsoft surprised everyone by missing earnings estimates and canning 5000 jobs. To view Steve Balmer’s memo to the troops click here. http://kara.allthingsd.com/20080723/microsoft-ceo-steve-ballmers-full-memo-to-the-troops-about-new-reorg/
Yesterday’s gain was wiped out as the TSX tanked 271.33 points today.
The TSX Venture Exchange was lower by 1.34.
Looks like people locked up their wallets as retail sales stunk in November, dropping 2.4% from the previous month. According to Stats Canada, this was the biggest loss in almost a decade. For some reason, the CDN$ rose 0.13 cent to 79.76
It also looks like people aren’t driving as much as they use to because of the crap economy. Oil inventories jumped more than analysts thought they would (actually 3X more or 4.1 billion bl. more than expected!) in the U.S. and that added to a selloff in the energy sector.
In fact, they’re running out of storage room for crude. I think oil should go down to $8/bl. like the good old days…..there’s just no demand right now (Saudi’s aren’t too happy right now!).
The S&P/TSX Energy Index sank 4.37% as the March crude contract on the New York Mercantile Exchange lost $.12 to US$43.67. Natural gas declining 1.86% to $4.64.
Decliners include Pason Systems (PSI) tanking 10.84% to $11.10. Flint Energy Services (FES) sinking 9.85% to $5.31. Cathedral Energy Services (CET.UN) down 9.20% to $4.64. Verenex Energy (VNX) lower by 7.66% to $7.10. North American Energy Partners (NOA) down 6.99% to $3.06. Crew Energy (CR) sinking 6.80% to $3.84. Suncor Energy (SU) losing 6.75% to $22.92. Petrominerales (PMG) down 5.74% to $5.42. Enerplus Res. (ERF.UN) lower by 5.58% to $26.07. Canadian Natural Res. (CNQ) down 5.48% to $42.81. Canada Oil Sand Trust (COS.UN) sank 7.02% to $16.95. Enbridge Income Fund (ENF.UN) dropped 6.98% to $10.00. Arc Energy trust (AET.UN) down 6.73% to $16.35.
Heritage Oil Corp. (HOC) soared 16.28% to $4.00.
Roger Biduk
Here’s a good one. The Bank of Canada said the country's bounce-back from recession will be as sharp as the drop has been. The bank estimates the economy will shrink at an annual rate of 4.8 per cent during the current quarter but will rebound in the second half of this year and will grow by 3.8 per cent in 2010.
Let me tell you something. If unemployment gets into double digits in the U.S. (and I think it will) and the commercial real estate market starts to go down the tank (just makes sense if there’s no employees to fill up the buildings) I think 2010 is a dream. Funny no one is talking about this.
The financial sector got hammered again today. The S&P/TSX Capped Financial index tanked 5.92%. Even though Canada has the best banking system in the world, financial stocks are going to continue to follow the crappy financial sector in the U.S.
Losers include SL Split Corp. (SLS) tanking 25.17% to $2.20. Manulife Financial (MFC) sinking 11.70% to $19.10. Big bank Big Oil Split (BBO) dropped 9.77% to $6.00. Melcor Developments (MRD) sank 9.23% to 4.72. Sun Life Financial (SLF) dropped 8.63% to $23.30. Brookfield Properties (BPO) lost 8.50% to $6.57. Royal Bank (RY) sank 6.38% to $30.07. Kingsway Financial Serv. (KFS) dropped 6.36% to $6.18. Bank of Nova Scotia (BS) lower by 5.45% to $28.08. CIBC (CM) sank 5.15% to $43.25.
Gainers include Chemtrade Logistics Income Fund (CHE.UN) gained 5.96% to $9.25. Urbana Corp. (URB) soared 19.10% to $2.37.
The S&P Capped Diversified Metals and Minerals Index dropped 3.17% as copper lost 2.62% to $1.40. Silver gained $.04 to $11.37. Aluminum slumped 4.28% to $.62.
Tech Comonco (TCK.B) lost 6.87% to $5.29. Lundin Mining Corp. (TSX:LUN) declined five cents to $1.19 after it accelerated the shutdown of a zinc mine in Ireland, leaving 200 people out of work.
The S&P/TSX Global Gold Index dropped 1.79% as the February bullion contract in New York rose $9.20 to US$859.30 an ounce.
Gainers include Greystar Res. (GSL) soaring 13.86% to $2.30. Richmont Mines (RIC) jumping 11.43% to $2.73. Jaguar Mining (JAG) gained 8.20% to $6.60.
Losers include Aquiline Res. (AQI) down 5.32% to $2.67
Roger Biduk
The S&P/TSX Capped Information Technology Index was down .91% and the S&P/TSX Capped Telecom Index was down .49%.
CryptoLogic Exchange (CXY) soared 24.14% to $5.40. CryptoLogic Ltd. (CRY) jumped 10.22% to $5.50. Gennum Corp. (GND) up by 8.20% to $6.99. JDS Uniphase (JDU) lost 7.68% to $4.33.
Shares in Research In Motion Ltd. (TSX:RIM) were off $1.08 at $65.67 following a report in The Globe and Mail that Ontario's stock watchdog and RIM co-chief executive officers Jim Balsillie and Mike Lazaridis are negotiating a settlement related to their role in a stock option accounting controversy dating back to 1996.
The S&P/TSX Consumer Discretionary Index was down 1.51% and the S&P/TSX Consumer Staples Index was down .94%.
Linamar corp. (LNR) sank 6.81% to $3.83.
Sun-Rype Products (SRF) soared 19.63% to $7.19.
The S&P/TSX Capped Health Care Index sank 1.96%.
Imris (IM) gained 8.11% to $2.00.
The S&P/TSX Capped Utilities Index dropped 1.29%.
The S&P/TSX Capped Industrial Index was down 1.65%.
In the chemicals sector, NOVA Chemicals corp (NCX) jumped 6.74% to $4.75.
Potash Corp. (POT) jumped 5.30% to $91.19. Its full-year earnings tripled to $3.5 billion. Fourth-quarter profit more than doubled to $788 million, but PotashCorp cut its 2009 earnings guidance to $10.75 per share, from $12 to $13 per share.
In the service sector, Canadian Tire (CTC.A) sank 5.14% to $40.44. Softchoice (SO) lost 5.32% to $2.85 and Ritchie Bros. (RBA) dropped 5.50% to $22.66. After markets closed, CN Rail (TSX:CNR), Canada's largest railway, raised its dividend 10 per cent despite a drop in fourth-quarter profits to $573 million, including a tax recovery. Revenues grew 13 per cent to $2.2 billion.
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You’ll see red right across the numbers as all the major North American indexes closed lower today.
Banks got sold off again (as they should be…watch FAZ (+15.73% today) when the financials tank & FAS when they rise.)
Even Microsoft surprised everyone by missing earnings estimates and canning 5000 jobs. To view Steve Balmer’s memo to the troops click here. http://kara.allthingsd.com/20080723/microsoft-ceo-steve-ballmers-full-memo-to-the-troops-about-new-reorg/
Yesterday’s gain was wiped out as the TSX tanked 271.33 points today.
The TSX Venture Exchange was lower by 1.34.
Looks like people locked up their wallets as retail sales stunk in November, dropping 2.4% from the previous month. According to Stats Canada, this was the biggest loss in almost a decade. For some reason, the CDN$ rose 0.13 cent to 79.76
It also looks like people aren’t driving as much as they use to because of the crap economy. Oil inventories jumped more than analysts thought they would (actually 3X more or 4.1 billion bl. more than expected!) in the U.S. and that added to a selloff in the energy sector.
In fact, they’re running out of storage room for crude. I think oil should go down to $8/bl. like the good old days…..there’s just no demand right now (Saudi’s aren’t too happy right now!).
The S&P/TSX Energy Index sank 4.37% as the March crude contract on the New York Mercantile Exchange lost $.12 to US$43.67. Natural gas declining 1.86% to $4.64.
Decliners include Pason Systems (PSI) tanking 10.84% to $11.10. Flint Energy Services (FES) sinking 9.85% to $5.31. Cathedral Energy Services (CET.UN) down 9.20% to $4.64. Verenex Energy (VNX) lower by 7.66% to $7.10. North American Energy Partners (NOA) down 6.99% to $3.06. Crew Energy (CR) sinking 6.80% to $3.84. Suncor Energy (SU) losing 6.75% to $22.92. Petrominerales (PMG) down 5.74% to $5.42. Enerplus Res. (ERF.UN) lower by 5.58% to $26.07. Canadian Natural Res. (CNQ) down 5.48% to $42.81. Canada Oil Sand Trust (COS.UN) sank 7.02% to $16.95. Enbridge Income Fund (ENF.UN) dropped 6.98% to $10.00. Arc Energy trust (AET.UN) down 6.73% to $16.35.
Heritage Oil Corp. (HOC) soared 16.28% to $4.00.
Roger Biduk
Here’s a good one. The Bank of Canada said the country's bounce-back from recession will be as sharp as the drop has been. The bank estimates the economy will shrink at an annual rate of 4.8 per cent during the current quarter but will rebound in the second half of this year and will grow by 3.8 per cent in 2010.
Let me tell you something. If unemployment gets into double digits in the U.S. (and I think it will) and the commercial real estate market starts to go down the tank (just makes sense if there’s no employees to fill up the buildings) I think 2010 is a dream. Funny no one is talking about this.
The financial sector got hammered again today. The S&P/TSX Capped Financial index tanked 5.92%. Even though Canada has the best banking system in the world, financial stocks are going to continue to follow the crappy financial sector in the U.S.
Losers include SL Split Corp. (SLS) tanking 25.17% to $2.20. Manulife Financial (MFC) sinking 11.70% to $19.10. Big bank Big Oil Split (BBO) dropped 9.77% to $6.00. Melcor Developments (MRD) sank 9.23% to 4.72. Sun Life Financial (SLF) dropped 8.63% to $23.30. Brookfield Properties (BPO) lost 8.50% to $6.57. Royal Bank (RY) sank 6.38% to $30.07. Kingsway Financial Serv. (KFS) dropped 6.36% to $6.18. Bank of Nova Scotia (BS) lower by 5.45% to $28.08. CIBC (CM) sank 5.15% to $43.25.
Gainers include Chemtrade Logistics Income Fund (CHE.UN) gained 5.96% to $9.25. Urbana Corp. (URB) soared 19.10% to $2.37.
The S&P Capped Diversified Metals and Minerals Index dropped 3.17% as copper lost 2.62% to $1.40. Silver gained $.04 to $11.37. Aluminum slumped 4.28% to $.62.
Tech Comonco (TCK.B) lost 6.87% to $5.29. Lundin Mining Corp. (TSX:LUN) declined five cents to $1.19 after it accelerated the shutdown of a zinc mine in Ireland, leaving 200 people out of work.
The S&P/TSX Global Gold Index dropped 1.79% as the February bullion contract in New York rose $9.20 to US$859.30 an ounce.
Gainers include Greystar Res. (GSL) soaring 13.86% to $2.30. Richmont Mines (RIC) jumping 11.43% to $2.73. Jaguar Mining (JAG) gained 8.20% to $6.60.
Losers include Aquiline Res. (AQI) down 5.32% to $2.67
Roger Biduk
The S&P/TSX Capped Information Technology Index was down .91% and the S&P/TSX Capped Telecom Index was down .49%.
CryptoLogic Exchange (CXY) soared 24.14% to $5.40. CryptoLogic Ltd. (CRY) jumped 10.22% to $5.50. Gennum Corp. (GND) up by 8.20% to $6.99. JDS Uniphase (JDU) lost 7.68% to $4.33.
Shares in Research In Motion Ltd. (TSX:RIM) were off $1.08 at $65.67 following a report in The Globe and Mail that Ontario's stock watchdog and RIM co-chief executive officers Jim Balsillie and Mike Lazaridis are negotiating a settlement related to their role in a stock option accounting controversy dating back to 1996.
The S&P/TSX Consumer Discretionary Index was down 1.51% and the S&P/TSX Consumer Staples Index was down .94%.
Linamar corp. (LNR) sank 6.81% to $3.83.
Sun-Rype Products (SRF) soared 19.63% to $7.19.
The S&P/TSX Capped Health Care Index sank 1.96%.
Imris (IM) gained 8.11% to $2.00.
The S&P/TSX Capped Utilities Index dropped 1.29%.
The S&P/TSX Capped Industrial Index was down 1.65%.
In the chemicals sector, NOVA Chemicals corp (NCX) jumped 6.74% to $4.75.
Potash Corp. (POT) jumped 5.30% to $91.19. Its full-year earnings tripled to $3.5 billion. Fourth-quarter profit more than doubled to $788 million, but PotashCorp cut its 2009 earnings guidance to $10.75 per share, from $12 to $13 per share.
In the service sector, Canadian Tire (CTC.A) sank 5.14% to $40.44. Softchoice (SO) lost 5.32% to $2.85 and Ritchie Bros. (RBA) dropped 5.50% to $22.66. After markets closed, CN Rail (TSX:CNR), Canada's largest railway, raised its dividend 10 per cent despite a drop in fourth-quarter profits to $573 million, including a tax recovery. Revenues grew 13 per cent to $2.2 billion.
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Wednesday, January 21, 2009
Roger Biduk; Bay Street Soars on Oil & Financials
Roger Biduk writes:
Today’s headline is exactly the opposite of yesterday’s.
Here we go again. Down 300 points one day, up 250 the next. Looks like volatility is back in the market and that’s what makes money for active investors.
The Toronto stock market ended a volatile session sharply higher thanks to late day bounces in financial and energy stocks, which helped to claw back a good-sized chunk of the previous day's losses.
Toronto's S&P/TSX composite index, down well over 100 points at one point in the session, charged ahead 252.96 points to 8,757.89 following a 337-point tumble on Tuesday.
The TSX Venture Exchange dipped 5.13 points to 851.55, while the Canadian dollar rose 0.74 cent to 79.63 cents US.
The market got off to a solid start for the year but a series of losses and rising pessimism about global economies threaten to send the TSX to the 7,727-point low established in November.
Further signs of economic weakness surfaced as Statistics Canada reported that wholesale sales fell 1.6 per cent in November to $44.4 billion as decreases in four of seven sectors contributed to the third decline in four months.
The TSX energy sector shook off early losses to climb 4.3 per cent as the March crude contract on the New York Mercantile Exchange added $2.71 to US$43.55 a barrel. Natural gas closed 2.55% higher at $4.78.
Gainers included Suncor (SU) soaring 11.22% to $24.58. Addax Petroleum (ACX) jumped 8.96% to $19.45. TriStar Oil & Gas (TOG) gained 8.28% to $10.85. Highpine Oil & Gas (HPX) higher by 8.05% to $4.70. Major Drilling Group Int’l (MDI) rose 6.92% to $12.83. Niko Res. (NKO) rose 6.45% to $47.02. Talisman Energy (TLM) gained 6.12% to $11.80. Paramount Res. (POU) up 5.11% to $7.61. Baytex Energy Trust (BTE.UN) up 5.16% to $15.49.
Precision Drilling Trust (TSX:PD.UN) units inched up three cents to $7.55 after the company said it is cutting its cash distribution for January to four cents a unit from the 13 cents paid out in December. The company said the reduction reflects "a sharp reduction in United States rig demand resulting from the steep decline in energy commodity prices over the past three months."
Decliners include Total Energy Services Trust (TOT.UN) sinking 5.16% to $3.86. Pacific Rubiales Energy (PRE) down 5.56% to $2.55. Stoneham Drilling Trust (SDG.UN) lower by 5.63% to $3.02. Pembina Pipeline Income (PIF.UN) down 5.93% to $14.27. Cathedral Energy Services (CET.UN) dropping 6.58% to $5.11. Trinidad Drilling (TDG) sinking 6.59% to $3.40. Pantera Drilling Income Trust (RIG.UN) tanking 7.43% to $2.49.
Roger Biduk
The metals and mining sector jumped 3.14% as copper lost 4.72% to $1.53. Silver rose 1.34% to $11.33. Aluminum slumped 4.28% to $.64. Platinum lost $21.70 to $921.60.
BHP Billiton announced plans to slash 6,000 jobs, or about six per cent of its global work force, as it rushes to cope with plummeting demand because of the global financial crisis.
Osisko Mining (OSK) rose 6.58%. Inmet Mining (IMN) gained 5.91%. Sherritt Int’l. (S) up by 5.15% to $3.88 and Ivanhoe Mines (IVN) rising 5.13% to $3.69.
Decliners include Altius Minerals (ALS) lower by 5.53% to $4.44. Silver Wheaton (SLW.WT.B) down by 5.63% to $2.85. Comaplex Minerals (CMF) down by 7.67%.
The gold sector rose 2.54% as the February bullion contract in New York dropped $5.10 to US$855.20 an ounce.
Gainers include Moto Goldmines (MGL) soared 13.04% to 2.34%. Aquine Res. (AQI) rose 6.82% to $2.82%. NovaGold Res. (NG) jumped 6.57% to $2.27.
Kinross Gold Corp. (TSX:K) shares were down $1.11 to $22 after the company said it plans to raise up to US$360.5 million through an issue of 20.9 million common shares at a price of $17.25 a share.
Decliners include Complex Minerals (CMF) lower by 7.67% to $3.13.
The information technology sector jumped 4.56% and the telecom sector gained 1.32%.
CryptoLogic (CRY) soared 14.71%. Aastra Tech. (AAH) jumped 8.40% to $11.48. BCE (BCE.PR.S) higher by 6.17% to $14.97. Absolute Software (ABT) gained 6.07% to $3.32. CGI Group (GIB.A) higher by 5.96% to $9.43. Research in motion (RIM) up 5.95% to $66.75. Mosaid Tech. (MSD) up 5.88% to $9.91.
Descartes Systems (DSG) lost 5.29% to $3.22.
Financials rebounded 4.33%. Royal Bank (TSX:RY) rose $1.28 to $32.12 and Scotiabank (TSX:BNS) gained $1.12 to $29.70. Both banks announced Wednesday they plan to raise $200 million by issuing preferred shares.
Franco-Nevada (FNV) rising 7.61% to $21.50. Coverntree (COF) jumped 18.84% to $4.10. Brookfield Properties (BPO) gained 10.46% to $7.18. Canadian Western Bank (CWB) up 8.42% to $12.10. Manulife (MFC) higher by 7.56% to $21.63. Boralex Power Income (BPT.UN) up 7.42% to $3.91. Sun Life Financial (SLF) up 6.65% to $25.50. Brompton Split Banc (SBC) up 6.58% to $3.89. DundeeWealth (DW) higher by 5.09% to $5.78.
Decliners include Wall Financial (WFC) tanking 21.70% to $7.00. Dividend Growth Split (DGS) sinkunf 10.18% to $3.00. Morguard Real Estate Development (MRT.UN) losing 7.63% to $10.05. Livingston Int’l (LIV.UN) lower by 7.48% to $6.31. Fort Chicago Energy Partners (FCE.UN) down 6.42% to $7.72.
Roger Biduk
Consumer discretionary was up 1.00% and consumer staples were up 2.09%.
Viterra (VT) soared 13.90% to $9.34. Domtar (UFS) jumped 12.23% to $2.11. AlarmForce Industries (AF) gained 5.97% to $4.08. Maple Leaf foods (MFI) up 5.84% to $10.88. Linamar (LNR) up 5.66% to $4.11.
The healthcare sector was up 1.96%.
Biovail (BVF) gained 6.82% to $14.09.
Transition Therapeutics (TTH) lost 5.42% to $5.41. Novadaq Tech. (NDQ) down 7.37% to $2.01.
The industrial sector was up 3.18%.
IPL (IPL.A) jumped 19.47% to $2.70. West Fraser timber (WFT) gained 6.11% to $29.18.
Vector Aerospace (RNO) lost 5.88% to $4.00. Marsules (MLX) down 7.91% to $8.50. Nova Chemical Corp. (TSX:NCX) shares got hammered, down $1.60 or 26.5 per cent to $4.45 over investor concerns the company will not be able to meet a debt payment due this spring.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
Today’s headline is exactly the opposite of yesterday’s.
Here we go again. Down 300 points one day, up 250 the next. Looks like volatility is back in the market and that’s what makes money for active investors.
The Toronto stock market ended a volatile session sharply higher thanks to late day bounces in financial and energy stocks, which helped to claw back a good-sized chunk of the previous day's losses.
Toronto's S&P/TSX composite index, down well over 100 points at one point in the session, charged ahead 252.96 points to 8,757.89 following a 337-point tumble on Tuesday.
The TSX Venture Exchange dipped 5.13 points to 851.55, while the Canadian dollar rose 0.74 cent to 79.63 cents US.
The market got off to a solid start for the year but a series of losses and rising pessimism about global economies threaten to send the TSX to the 7,727-point low established in November.
Further signs of economic weakness surfaced as Statistics Canada reported that wholesale sales fell 1.6 per cent in November to $44.4 billion as decreases in four of seven sectors contributed to the third decline in four months.
The TSX energy sector shook off early losses to climb 4.3 per cent as the March crude contract on the New York Mercantile Exchange added $2.71 to US$43.55 a barrel. Natural gas closed 2.55% higher at $4.78.
Gainers included Suncor (SU) soaring 11.22% to $24.58. Addax Petroleum (ACX) jumped 8.96% to $19.45. TriStar Oil & Gas (TOG) gained 8.28% to $10.85. Highpine Oil & Gas (HPX) higher by 8.05% to $4.70. Major Drilling Group Int’l (MDI) rose 6.92% to $12.83. Niko Res. (NKO) rose 6.45% to $47.02. Talisman Energy (TLM) gained 6.12% to $11.80. Paramount Res. (POU) up 5.11% to $7.61. Baytex Energy Trust (BTE.UN) up 5.16% to $15.49.
Precision Drilling Trust (TSX:PD.UN) units inched up three cents to $7.55 after the company said it is cutting its cash distribution for January to four cents a unit from the 13 cents paid out in December. The company said the reduction reflects "a sharp reduction in United States rig demand resulting from the steep decline in energy commodity prices over the past three months."
Decliners include Total Energy Services Trust (TOT.UN) sinking 5.16% to $3.86. Pacific Rubiales Energy (PRE) down 5.56% to $2.55. Stoneham Drilling Trust (SDG.UN) lower by 5.63% to $3.02. Pembina Pipeline Income (PIF.UN) down 5.93% to $14.27. Cathedral Energy Services (CET.UN) dropping 6.58% to $5.11. Trinidad Drilling (TDG) sinking 6.59% to $3.40. Pantera Drilling Income Trust (RIG.UN) tanking 7.43% to $2.49.
Roger Biduk
The metals and mining sector jumped 3.14% as copper lost 4.72% to $1.53. Silver rose 1.34% to $11.33. Aluminum slumped 4.28% to $.64. Platinum lost $21.70 to $921.60.
BHP Billiton announced plans to slash 6,000 jobs, or about six per cent of its global work force, as it rushes to cope with plummeting demand because of the global financial crisis.
Osisko Mining (OSK) rose 6.58%. Inmet Mining (IMN) gained 5.91%. Sherritt Int’l. (S) up by 5.15% to $3.88 and Ivanhoe Mines (IVN) rising 5.13% to $3.69.
Decliners include Altius Minerals (ALS) lower by 5.53% to $4.44. Silver Wheaton (SLW.WT.B) down by 5.63% to $2.85. Comaplex Minerals (CMF) down by 7.67%.
The gold sector rose 2.54% as the February bullion contract in New York dropped $5.10 to US$855.20 an ounce.
Gainers include Moto Goldmines (MGL) soared 13.04% to 2.34%. Aquine Res. (AQI) rose 6.82% to $2.82%. NovaGold Res. (NG) jumped 6.57% to $2.27.
Kinross Gold Corp. (TSX:K) shares were down $1.11 to $22 after the company said it plans to raise up to US$360.5 million through an issue of 20.9 million common shares at a price of $17.25 a share.
Decliners include Complex Minerals (CMF) lower by 7.67% to $3.13.
The information technology sector jumped 4.56% and the telecom sector gained 1.32%.
CryptoLogic (CRY) soared 14.71%. Aastra Tech. (AAH) jumped 8.40% to $11.48. BCE (BCE.PR.S) higher by 6.17% to $14.97. Absolute Software (ABT) gained 6.07% to $3.32. CGI Group (GIB.A) higher by 5.96% to $9.43. Research in motion (RIM) up 5.95% to $66.75. Mosaid Tech. (MSD) up 5.88% to $9.91.
Descartes Systems (DSG) lost 5.29% to $3.22.
Financials rebounded 4.33%. Royal Bank (TSX:RY) rose $1.28 to $32.12 and Scotiabank (TSX:BNS) gained $1.12 to $29.70. Both banks announced Wednesday they plan to raise $200 million by issuing preferred shares.
Franco-Nevada (FNV) rising 7.61% to $21.50. Coverntree (COF) jumped 18.84% to $4.10. Brookfield Properties (BPO) gained 10.46% to $7.18. Canadian Western Bank (CWB) up 8.42% to $12.10. Manulife (MFC) higher by 7.56% to $21.63. Boralex Power Income (BPT.UN) up 7.42% to $3.91. Sun Life Financial (SLF) up 6.65% to $25.50. Brompton Split Banc (SBC) up 6.58% to $3.89. DundeeWealth (DW) higher by 5.09% to $5.78.
Decliners include Wall Financial (WFC) tanking 21.70% to $7.00. Dividend Growth Split (DGS) sinkunf 10.18% to $3.00. Morguard Real Estate Development (MRT.UN) losing 7.63% to $10.05. Livingston Int’l (LIV.UN) lower by 7.48% to $6.31. Fort Chicago Energy Partners (FCE.UN) down 6.42% to $7.72.
Roger Biduk
Consumer discretionary was up 1.00% and consumer staples were up 2.09%.
Viterra (VT) soared 13.90% to $9.34. Domtar (UFS) jumped 12.23% to $2.11. AlarmForce Industries (AF) gained 5.97% to $4.08. Maple Leaf foods (MFI) up 5.84% to $10.88. Linamar (LNR) up 5.66% to $4.11.
The healthcare sector was up 1.96%.
Biovail (BVF) gained 6.82% to $14.09.
Transition Therapeutics (TTH) lost 5.42% to $5.41. Novadaq Tech. (NDQ) down 7.37% to $2.01.
The industrial sector was up 3.18%.
IPL (IPL.A) jumped 19.47% to $2.70. West Fraser timber (WFT) gained 6.11% to $29.18.
Vector Aerospace (RNO) lost 5.88% to $4.00. Marsules (MLX) down 7.91% to $8.50. Nova Chemical Corp. (TSX:NCX) shares got hammered, down $1.60 or 26.5 per cent to $4.45 over investor concerns the company will not be able to meet a debt payment due this spring.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.com/
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