Business
TSX stronger on eve of '10
TSX stronger on eve of '10
About this update from Big Bear Gold Corp.
[{"type":"text","content":"\nTSX stronger on eve of '10\n\nGold, staples lead way\n Dec. 31, 2009 (Baystreet.ca) -- Canadian stocks are looking to hold onto recent gains Thursday morning on the final trading day of a tumultuous 2009, and early signals are positive with commodity prices on solid footing.\n\nThe S&P/TSX Composite index began the year's final session ahead 42.50 points to 11,759.96. \n\nActivity will be light, with most traders prepping for New Year's festivities and markets on Wall Street closing early.\n\nCanadian stocks have been moving in a narrow range for the past few months on turbulent commodity prices, after witnessing an impressive surge from March through September.\n\nIn the commodity markets, the price of crude oil was hovering in the positive terrain on the back of encouraging economic numbers and on a weakness in the U.S dollar.\n\nCrude was up in price after yesterday's data from U.S. revealed that crude inventories dipped in the last week. Meanwhile, the price of gold managed to move back above the psychological $1,100-mark -- thanks to a weaker dollar.\n\nIn corporate news, Bombardier said it had won a $415-million order from Spain to maintain 30 high-speed trains for 14 years.\n\nRating of Black Diamond Income Fund, engaged in renting modular structures, was hiked to "strong buy" from "outperform" at Raymond James.\n\nBrokerage Haywood initiates coverage of precious metal explorer Endeavor Silver with a "sector perform" rating and with a price target of $4.25.\n\nGold miner Centamin Egypt said that its Chairman Sami El-Raghy will be stepping down on December 31.\n\nOil and gas producer Crocotta Energy Inc. said it would be selling various non-core properties for $33 million and announced it had signed a new bank credit facility for $58 million.\n\nNatural resource company Encore Renaissance Resources Corp. announced it would raise $5 million via private placements of up to 25 million units at $0.20 per unit.\n\nThe Canadian dollar regained 0.52 cents to 95.33 cents U.S. \n\nON BAYSTREET \n\nAll but two of the 14 TSX subgroups began the session on the right foot Thursday. Gold led the charge, up 0.9%, followed by consumer staples, ahead 0.6%, and materials, gaining 0.5%. \n\nThe two laggards, information technology and health-care, were both off 0.2%. \n\nThe TSX Venture Exchange powered ahead ...