Business
TSX in green -- barely
TSX in green -- barely
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nTSX in green -- barely\n\nFinancials, health gains offset metals' losses\n Feb. 10, 2010 (Baystreet.ca) -- The Toronto stock market moved slightly higher Wednesday afternoon with investors expecting the European Union to deal with a debt crisis enveloping some of its member countries.\n\nThe S&P/TSX Composite Index recovered 12.09 points by the end of the day to 11,286.33. \n\nGains were led by financial stocks on the belief that the European Union would move to help Greece with its mounting debt problem. But there were also mixed signals about the outcome of a Thursday meeting between E.U. leaders and European Central Bank president Jean-Claude Trichet.\n\nBut German officials said Wednesday there was no urgent need for a bailout at the moment and that "no decision on such help" is imminent. They also said E.U. rules prohibited them from guaranteeing another country's debts.\n\nMarkets have dropped in recent weeks over concerns that debt problems in countries like Greece, Spain and Portugal would spread and endanger a global economic recovery.\n\nOne source close to the talks added that the E.U. needs to come up with a collective solution and not just one that deals with the immediate problem posed by Greece.\n\nOn the TSX, the financials sector gained, as Manulife Financial gained 26 cents to $19.50 while Royal Bank was ahead 94 cents to $54.75.\n\nIndustrial stocks were up as transport giant Bombardier Inc. rose three cents to $5.40.\n\nThe energy sector declined even as oil prices advanced despite a report showing unexpected growth in U.S. crude inventories. The American Petroleum Institute said U.S. crude stocks jumped 7.2 million barrels last week. Analysts had expected an increase of two million barrels.\n\nAmong energy issues, Suncor Energy was down 66 cents to $31.19.\n\nTalisman Energy Inc. shares declined 33 cents to $17.67 after the company said it had a $111-million net loss in the fourth quarter, a stark contrast to the $1.2-billion net profit in the final quarter of 2008. Revenue rose to $1.82 billion from $1.77 billion in the year-ago quarter.\n\nThe gold sector was down as Barrick Gold Corp. fell 54 cents to $37.81.\n\nMarch copper was unchanged at $2.99 U.S. a pound and the base metals sector lost territory. Inmet Mining was down $1.36 to $55.64.\n\nIn other corporate news, the operator of Canada's ...