Business
Recent new highs for markets
Recent new highs for markets
About this update from Barrick Mining Corporation
[{"type":"text","content":"\nRecent new highs for markets\n\nEnergy, gold power TSX\n Apr. 1, 2010 (Baystreet.ca) -- Toronto's main index rose to a new 18-month high in mid morning deals Thursday, with gains among resource stocks drive by rising commodities prices.\n\nThe S&P/TSX Composite Index approached noon up 86.86 points to 12,124.59\n\nA relatively encouraging prelude to Friday's U.S. non-farm payrolls report and a better-than-expected ISM reading from across the border helped lift hopes for a global economic recovery. \n\nCommodities stocks were in the limelight, with the gauges of energy, gold and base metals stocks gaining over 2% each.\n\nAmong base metals stocks, FNX Mining gained 4.64% and Quadra Mining rose 3.67%. Inmet Mining surged 3.12%. \n\nIn the gold space, Lihir Gold rallied 27.63% after it announced Thursday that it has rejected a A$9.20-billion takeover bid by rival gold producer Newcrest Mining. \n\nIamgold moved up 4.37%.\n\nGold miner Barrick Gold acquired an additional 25% interest in the Cerro Casale Project in Chile from Kinross Gold Corporation for $474 million and now owns a 75% interest in and gains control of the project. The stock added 1.36%.\n\nMineral explorer Lake Shore Gold was up 1.59% after it said it will sell its 50% ownership interest in the Ti-pa-haa-kaa-ning Joint Venture to Northern Superior. \n\nDiamond miner and retailer Harry Winston Diamond edged up 1.40% after reporting a narrower fourth quarter net loss of $0.04 per share, compared to a loss of $1.19 per share in the same period last year.\n\nAmong energy plays, oil and gas company Canadian Natural Resources rose 3.30% after announcing that it will buy-back up to 2.5% of its outstanding shares in the next 12 months. \n\nPetrobakken Energy gained 6.22%.\n\nWireless communications company BCE Inc. edged up 0.40% The company said Wednesday that it will purchase for cancellation four million of its common shares pursuant to a private agreement with an arm's-length third-party seller. \n\nMeanwhile, oil fields services provider Forbes Energy Services plummeted 10.34% after reporting a wider fourth quarter net loss of $0.10 per share, compared to a net loss of $0.04 per share in the prior year quarter.\n\nRenewable energy company Ram Power, eased 0.34% after slipping into the red, posting fourth-quarter net loss of $0.15 per share, compared with a net income ...