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TSX finds more upward room
TSX finds more upward room
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"\nTSX finds more upward room\n\nMetals, money stocks ahead\n Dec. 22, 2009 (Baystreet.ca) -- Bay Street stocks remained modestly higher in Tuesday afternoon trading, erasing morning losses. Mild gains in the mining and financial sectors have led the way.\n\nThe S&P/TSX Composite index tacked on 73.26 points to 11,627.98.\n\nMining stocks improved, as Inmet added 3.5% to $64.02, HudBay up 1.9% to $12.80 and Teck Resources gained 0.7% to $39.77. \n\nThe key Financial Index surged, although National Bank dropped 2.8% at $60.07 after the company said that its securities dealer subsidiary, National Bank Financial, has agreed to pay $75 million for the settlement with the Autorite des marches financiers.\n\nScotiabank added 1.2% at $48.73 as the company said it received a license to open a precious metals unit in Dubai. \n\nIn other corporate news, NovaGold Resources added 6.6% to $5.99 after the company announced that it has agreed to purchase a 100% interest in the Ambler property in northern Alaska.\n\nSNC-Lavalin Group gained 2.5% to $52.82 after it announced the acquisition of Marte Engenharia, a Brazilian engineering firm with about 1,000 employees. \n\nIn corporate news, Yamana Gold picked up 2.1% at $12.17 after the company said that it increased its revolving credit facility capacity to $680 million U.S. from $500 million U.S.\n\nIamgold added a penny at $16.07 after the stock was upgraded to "buy" from "neutral" at UBS.\n\nOrleans Energy slid 3% to $2.29 after the stock was downgraded to "outperform" from "top pick" at Royal Bank of Canada. \n\nBankers Petroleum said it will increase its 2010 production by 15% to 15,000 barrels per day. The stock was down 4.8% to $6.18. \n\nMeanwhile, Imax was off 0.4% to $13.54 after being downgraded to "hold" from "buy" at Morgan Joseph.\n\nOn the economic front, the number of people on Employment Insurance benefits fell 0.5% to 809,600 in October, according to Statistics Canada. \n\nCanadian GDP data is due tomorrow.\n\nThe Canadian dollar gained 0.40 cents to 94.53 cents U.S. \n\nON BAYSTREET \n\nAll but one of the 14 TSX subgroups ended the day upward, led by global base metals, up 1%, while real-estate and financials were ahead 0.9% each. \n\nThe lone losing group was information technology, down 0.5%. \n\nThe TSX Venture Exch...