Business
Markets endure Friday slide
Markets endure Friday slide
About this update from Barrick Mining Corporation
[{"type":"text","content":"\nMarkets endure Friday slide\n\nMetals weigh TSX down\n\n Apr. 16, 2010 (Baystreet.ca) -- The Toronto stock market was sharply lower Friday with financial shares a weight after U.S. federal regulators filed civil fraud charges against Goldman Sachs over its dealings in the subprime mortgage market.\n\nThe S&P/TSX Composite Index had tumbled 140.86 points, or 1.2%, to 12,070.66, a drop of 106.18 points or 0.9% on the week. \n\nThe TSX financials sector fell as Royal Bank backed away 55 cents to $60.82 and Manulife Financial declined 21 cents at $19.50.\n\nCommodity stocks also depressed the TSX fell as investors flocked to the perceived safe-haven status of the U.S. dollar following the Goldman announcement and new developments in the Greece debt crisis.\n\nOn the TSX, the energy sector moved down and Suncor Energy gave back 73 cents to $34.08 and Canadian Natural Resources lost $1.95 to $76.86.\n\nThe gold sector was down as Goldcorp Inc. faded 64 cents to $39.50 and Barrick Gold Corp. was down 60 cents to $39.54.\n\nThe base metals sector slipped as May copper dropped eight cents at $3.52 U.S. a pound. Teck Resources lost $1.79 to $42.90.\n\nThe industrials sector also made a dent in the market with Canadian Pacific Railway down 57 cents to $58.45.\n\nIn other corporate news, shares in drug developer Aeterna Zentaris Inc. tumbled 35 cents or 21% to $1.31 after it said Thursday that it has deal to raise $15 million U.S. in a registered direct offering. The drug developer said it will sell 11.1 million shares to a group of institutional investors at $1.35 per share and issue warrants to acquire 4.4 million shares at an exercise price of $1.50 per share.\n\nAir Canada gained seven cents to $2.45 after an analyst at Raymond James Financial Inc. raised his rating on the carrier to "strong buy" from "outperform." He also promoted WestJet to "outperform" from "market perform" but its shares dipped 19 cents to $13.61 after U.S. carrier Southwest Airlines announced that it was dropping plans to sell travel to Canada in a partnership with the Calgary based firm. Southwest said Friday it pulled out after WestJet asked for changes in the agreement that the two reached back in 2008.\n\nShares in green power firm Finavera Renewables Inc. jumped three cents or 26% to 14.5 cents after it adopted a share...