Business
TSX opens fairly flat
TSX opens fairly flat
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nTSX opens fairly flat\n\nMetals, gold strong in early going\n Jan. 6, 2010 (Baystreet.ca) -- Bay Street may struggle to hold on to its gains on Wednesday as energy prices eased after an uptick in the U.S. dollar. The Canadian market held on to its gains in the previous session, extending the strong rally in the first trading session of the year.\n\nThe S&P/TSX Composite Index added 43.61 points to 11,931.69 \n\nTuesday, Toronto stocks turned mildly lower in early dealings after the pending home sales data from the U.S. raised concerns over the health of the economy. \n\nNonetheless, they had managed to move higher as commodity prices remained firm. The index gained 21.18 points or 0.18% to settle at 11,888.08 -- a new 15-month high. \n\nEnergy stocks, which have been moving up nicely in the recent past, may be in play today as the price of crude oil eased a bit, ahead of crude inventory data from the U.S. Energy Information Administration due later today. Meanwhile, gold edged up in price. \n\nIn corporate news, technology service provider Calian Technologies announced the award of a $29-million orders by the Department of National Defense.\n\nInformation technology provider MacDonald, Dettwiler and Associates said that it has signed a multi-million-dollar contract with Boeing Satellite and Intelligence Systems Inc., a unit of Boeing.\n\nOil and natural gas explorer Twin Butte Energy Ltd. said that it would be divesting certain non-core assets for $13.3 million. It also revealed a $38-million capital program for 2010. \n\nEnergy explorer Niko Resources said it will drill six wells in India this year.\n\nContract operator Xtreme Coil Drilling Corp. announced it would buy back up to 2.64 million common shares in the next 12 months. \n\nIn rating action, JP Morgan upped Bombardier Inc. rating to "overweight" from "neutral" and Barclays hiked the price target of Talisman Energy to $23 from $21.\n\nThe Canadian dollar continued its march to parity with its U.S. cousin, regaining 0.35 cents to 96.60 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, all but four were in positive country to begin the day. Metals and mining stocks led the parade by gaining 1.6%, gold advanced 1.2% and materials were 1.1%. \n\nThe four laggards were weighed by information technology, off 0.2%, while real-estate and financial s...