Business
Stock fortunes improve
Stock fortunes improve
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nStock fortunes improve\n\nReal-estate leads TSX surge\n\n Apr. 29, 2010 (Baystreet.ca) -- The Toronto stock market climbed to its highest levels of the day at mid-afternoon Thursday as a Greek bailout moved closer to fruition amid promises for massive spending cuts from Athens.The S&P/TSX composite index leaped 123.43 points, or 1%, to end the day at 12,200.32. The Toronto energy sector was up, as Shares in Suncor Energy Inc. added 52 cents to $34.09.The gold sector added strength amid some upbeat earnings.Shares in Centerra Gold Inc. jumped 50 cents or 4.6% to $11.09 after the company said it earned $122.1 million in its latest quarter as revenue more than doubled compared with a year ago.And Goldcorp Inc. stock added four cents to $43.03 after the company reported a loss of $52.7 million U.S. in its first quarter, weighed down by a $212.2-million foreign exchange charge. Excluding the foreign exchange charges, its adjusted earnings were $163.1 million.Toronto's base metals sector lost ground as the May copper contract on the Nymex fell 3.5 cents to $3.33 U.S. a pound.In earnings, Potash Corp. of Saskatchewan Inc., exceeded expectations with first-quarter earnings of $449.2 million. The company said higher demand for its products in the quarter signals a longer-term rebound as farmers catch up on fertilizer applications they missed last year. Shares in Potash Corp. added $1.49 to $111.23.Oil-and-gas producer Cenovus Energy reported a slight improvement in profit to $525 million and a big increase in first-quarter sales at both its production and refining operations. Shares in Cenovus rose $1.30 or 4.6% to $29.89.Theatre equipment maker Imax Corp. said its quarterly profit hit a record $26.6 million U.S. in the first three months of this year, helped by blockbuster 3-D hits "Avatar" and "Alice in Wonderland." Imax stock fell 67 cents or more than 3.3% to $19.81.And shares in transportation giant Bombardier Inc. gained 29 cents or 5.6% to $5.47, despite news that U.S. air-safety regulators are ordering fixes to the company's Q400 turboprops to prevent stalls in icy conditions.In economic news, Statistics Canada said today non-farm payroll employment edged up by 8,300 or 0.1% in FebruaryThe Canadian dollar got closer to parity with the greenback, regaining 0.28 cents to 99.45 cents U.S. ON BAYSTREET All but t...