Business
Stock traders in buying mood
Stock traders in buying mood
About this update from Barrick Mining Corporation
[{"type":"text","content":"\nStock traders in buying mood\n\nAll TSX groups up\n Mar. 5, 2010 (Baystreet.ca) -- Canadian stocks moved higher in mid-morning deals Friday amid all around buying.\n\nThe S&P/TSX composite index continued its pursuit of the psychologically-important 12,000 mark, greeting noon ahead 131.23 points, or 1.1% to 11,956.20\n\nEncouraging jobs data from the U.S. and firm metal prices helped lift sentiment.\n\nBase metal stocks were in limelight, with Inmet Mining was up 3.09% and First Quantum Minerals rose 3.53%. \n\nThe Gold Index moved up, as Eldorado Gold rose 2.47% and Iamgold gained 2.05%. \n\nBarrick Gold gathered 1.56% on reports the company will raise as much as $978 million by offering shares of its African unit through an initial public offering in London.\n\nPrecious metals explorer NovaGold Resources edged up 1.75% after announcing plans to issue 18.18 million common shares at $5.50 per share for gross proceeds of $100 million.\n\nSilver explorer Silver Standard Resources was higher by 4.23% after reporting a narrower fourth-quarter net loss of $0.13 per share, compared to a loss of $0.23 per share in the previous-year quarter.\n\nAmong energy stocks, Canadian Natural Resources rose 2.74%. Yesterday, the company said its fourth-quarter net earnings dipped to $0.85 per share from $3.27 per share in the previous year but upped its dividend payout by over 40% to $0.15 a share. \n\nAlso, it said it will subdivide its common shares on a two-for-one basis after necessary approvals.\n\nWest Energy rallied 19% to $5.030 on news that that it will be acquired by Daylight Resources Trust for $570 million. Shareholders of West Energy will receive $5.50 per share or 0.465 of a Daylight trust unit. On the other hand, Daylight slipped 1.65%.\n\nNatural gas explorer Celtic Exploration moved up 4.20%. The company today said its fourth-quarter net earnings plunged to $0.02 per share, from $0.72 per share in the year-ago quarter.\n\nRenewable energy generator Algonquin Power & Utilities edged up 1.19% on reporting a fourth-quarter net loss of $0.03 per share, compared to a loss of $0.28 per share in the same period last year.\n\nConstruction contractor Seacliff Construction gathered 7.48% after announcing improved net earnings in its fourth quarter to $0.49 per share from $0.18 per share in the previous-year quarter.\n\nFood products maker...