Business
Oil could spur more gains on Bay St.
Oil could spur more gains on Bay St.
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nOil could spur more gains on Bay St.\n\nGold, staples slide on TSX\n Apr. 5, 2010 (Baystreet.ca) -- Canadian stocks are likely to hold on to their recent gains Monday morning as crude continued its charge above $85 U.S. a barrel.\n\nThe S&P/TSX Composite Index picked up 21 points soon after the opening bell to 12,172.06. \n\nMoreover, traders will factor in the encouraging jobs data from the U.S. released on Good Friday, which cemented hopes that the world's largest economy is on its recovery path.\n\nIn corporate news, Bombardier Inc. said Thursday that it will repurchase 0.21% each of its Class A and Class B shares.\n\nInvestment management company CI Financial reported gross retail sales of $1.1 billion and net sales of $243 million for the month of March. Assets under management at March 31, 2010 were $68.1 billion, an increase of $1.8 billion or 2.7% over the month.\n\nMineral explorer Conway Resources said it is negotiating a private placement for a maximum of 10 million units, for a maximum amount of $500,000\n\nMinerals property company International Tower Hill Mines announced the closing of the first tranche of its non-brokered financing of five million common shares of the company at a price of $6.00 per common share.\n\nAgnico-Eagle Mines said Thursday that it will acquire all of the shares of Comaplex Minerals Corp. that it does not already own. \n\nWireless services solutions provider WebTech Wireless announced the closure of non-brokered private placement to certain members of senior management and the company's Board of Directors for nearly $500,000 \n\nWith no major economic data on tap from Canada, traders will focus on the movements of commodities prices to get clues for today's trading.\n\nThe Canadian dollar continued its push toward parity with its American counterpart, gaining 0.55 cents to 99.49 cents U.S. \n\nON BAYSTREET \n\nEight of the 14 TSX subgroups started the day off lower, if only slightly so. Gold was off 0.3%, followed by materials and consumer staples, sliding 0.2% each. \n\nThe gainers were led by energy, up 0.7%, while the metals and mining group vied with real-estate for the runner-up position, up 0.3%. \n\nThe TSX Venture Exchange advanced 10.30 points to 1,612.84, while the Nasdaq Canada index gave back 3.46 points to 761.02. \n\nON WALLSTREET\n\nIn New York, U.S. stocks were poised for...