Business
TSX flat by noon
TSX flat by noon
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nTSX flat by noon\n\nMetals, utilities down\n Feb. 25, 2010 (Baystreet.ca) -- Toronto's main index trimmed losses by mid-morning Thursday after opening significantly lower, with financials and gold stocks leading the fight back even as energy stocks remained subdued amid sliding oil prices and a firm greenback.\n\nThe S&P/TSX composite index was off 7.60 points by midday to 11,514.23. \n\nThe Energy Index shed some of its strength, as Canadian Natural Resources Ltd. lost 1.58% and Encana Corp. was down 0.76%.\n\nSuncor Energy, which announced the sale of its natural gas assets in Trinidad and Tobago to British energy company Centrica PLC for approximately $380 million U.S., was down 2.08%.\n\nThe Financials Index gained momentum, as Bank of Montreal was up 1.74%.\n\nCanadian Imperial Bank which reported a surge in first-quarter earnings to $652 million from $147 million in the prior-year quarter, rose 1.96%.\n\nNational Bank of Canada gained 0.87%, after reporting a substantial increase in first-quarter net income to $215 million from $69 million in the comparable quarter.\n\nThe Gold Index moved up, with Agnico-Eagle Mines Ltd. up 1.88%, Yamana Gold Inc. up 2.07% and Goldcorp Inc. up 1.69%.\n\nBombardier Inc. soared 6.39% after the company revealed securing a $3-billion-U.S. purchase order for 40 of its CS300 jetliners from Republic Airways Holdings Inc.\n\nThe Health Care Index was down, with SXC Health Solutions Corp. down 1.77%.\n\nBiovail Corp. eased 0.46%. The pharmaceutical company had reported a decline in its fourth-quarter net income to $73.0 million U.S. from $120.4 million U.S. in the year-ago quarter.\n\nLundin Mining Corp. which reported a turnaround to profit in fourth quarter 2009, with net income of $35.1 million U.S. compared to net loss of $728.5 million U.S. last year, shed 1.14%.\n\nThe Canadian dollar subsided 1.14 cents to 93.70 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, nine were negative by noon. Metals and mining took the biggest hit, at 1.6%, followed by global base metals and utilities, sinking 1.5% each. \n\nThe three gainers were headed by gold, up 2%, followed by materials, progressing 0.8%, and financials, ahead 0.5%. \n\nThe TSX Venture Exchange fell back 10.49 points to 1,508.92, while the Nasdaq Canada index slipped 12.19 points to 733.75.\n\nON WALLSTREET\n\nIn New York, stocks ...