Business
Positive start for TSX
Positive start for TSX
About this update from Atlas Salt Inc
[{"type":"text","content":"\nPositive start for TSX\n\nCDN Retail sales out\n Dec. 21, 2009 (Baystreet.ca) -- Canadian stocks saw moderate strength in early Monday morning trading as oil prices are higher ahead of the OPEC meeting. Stocks in Europe are moving in positive territory and U.S. futures are pointing upward. \n\nSoon after 10 a.m. ET, the S&P/TSX Composite index had rallied 64.22 points, to begin the week at 11,527.62. \n\nCrude oil prices are up as signs point toward the Organization of Petroleum Exporting Countries (OPEC) leaving output alone at its meeting this week. \n\nIn metal trading, gold had slid slightly, silver has added nine cents to $17.395 U.S. per ounce and copper is slightly higher at $3.146 U.S. per pound. \n\nAgrium announced that it has extended the expiration date of its offer to acquire CF Industries Holdings for $45.00 U.S. in cash plus one Agrium share per CF share until midnight ET on January 22.\n\nDioro Exploration NL said that its directors recommended Dioro shareholders take no action in relation to the Ramelius's revised offer until directors have considered certain developments. Ramelius increased its offer on Friday. \n\nBank of Nova Scotia will meet Canadian regulators on Monday to resolve allegations of improper sale of asset backed commercial papers in 2007.\n\nIn a latest deal in merger space, mining companies Ontex Resources and Roxmark Mines announced shareholders' approval of their merger plans.\n\nGold producer New Dawn Mining reported wider loss in fiscal 2009 at $0.13 per share, as against $0.09 recorded in the previous year.\n\nThe Ontario Teacher Pension Plan said it would sell its 15% stake in security systems provider Alarm Force Industries to a private equity firm for $6 per share.\n\nOn the economic front, Canadian retail sales rose 0.8% in October, according to data released on Monday morning. The rise, which was in-line with expectations, was the eighth in 10 months. \n\nRevised data showed a 1.1% increase in September. \n\nExcluding autos, retail sales rose 0.2%, less than the 0.4% projected by experts and the 1% hike in the prior month. \n\nLater in the week, traders will look for gross domestic product data from both sides of the border.\n\nThe Canadian dollar strengthened 0.93 cents to 94.74 cents U.S. \n\nON BAYSTREET \n\nAll but one of the 14 TSX subgroups began the week in positive territor...