Business
TSX off on right foot
TSX off on right foot
About this update from Argenta Silver Corp
[{"type":"text","content":"\nTSX off on right foot\n\nMetals, materials power Toronto surge\n Jan. 4, 2010 (Baystreet.ca) -- Canadian stocks remained comfortably in the green on Monday with higher commodity prices leading the resource sectors higher.\n\nIn its first trading session of 2010, the S&P/TSX Composite Index surged 120.79 points, or 1%, to 11,886.90. \n\nMining stocks rallied as the price of copper rose above $3.40 U.S. on the Comex. Teck Cominco added 6.1% to $39.08, Inmet was up 3.6% at $66.06 and First Quantum gained 3.5%. \n\nMaterials and gold stocks gained as the precious metal surged more than $20. New Gold rose 4.5% to $3.97, Agnico-Eagle Mines was up 2.7% to $58.44 and Eldorado gained 2.6% to $15.30. \n\nIamgold rose 1.5% to $16.76. The company said President & Chief Executive Officer Joseph Conway was to leave the company effective January 15 and be replaced on an interim basis by director Peter Jones.\n\nThe Energy Index has gained ground as crude oil jumped above $81 per barrel. Suncor was up 3% to $38.31, Canadian Oil Sands added 1.1% to $30.24 and Canadian Natural Resources was up 1.1% to $76.86. \n\nBerens Energy soared 31.5% to $2.67 after it agreed to be bought by PetroBakken Energy for $336 million. PetroBakken was up 2.3% to $33.06.\n\nBellatrix Exploration surged 18.5% to $3.14 after reporting fourth-quarter drilling results and 2010 guidance as well as the completion of two new horizontal wells in the month of December in West Central Alberta.\n\nSouthGobi Energy Resources was up 3.7% to $17.74 after announcing plans to raise as much as $400 million in a Hong Kong share sale.\n\nOn the downside, the Technology Index skidded, as Research in Motion lost 3.7% to $68.43 after being downgraded to "hold" from "buy" at GMP Capital. \n\nIn other corporate news, Sun Life Financial rose 3.4% to $31.27 after the company announced recent enhancements to its employee benefits designed for the public sector groups. \n\nThomson Reuters recovered 0.2% to $34 after the company announced that it had acquired Discovery Logic. Terms were not disclosed.\n\nThe Canadian dollar surged 0.92 cents to 96.01 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, nine were positive to end the day. Metals and mining stocks were up 4.4%, followed by global base metals, ahead 3.7%, while materials gained 2.4%. \n\nThe losing groups w...