Business
TSX picture brightens
TSX picture brightens
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nTSX picture brightens\n\nISM, housing figures move markets\n Apr. 5, 2010 (Baystreet.ca) -- Another round of encouraging economic news from across the border and a rally in the price of crude oil helped the Canadian stock market to hit a new 18-month high in mid-morning deals Monday.\n\nThe S&P/TSX Composite Index picked up 29.56 points by noon to 12,180.62\n\nThe loonie was within a whisker of parity versus the greenback.\n\nThe Energy Index gained ground, as Canadian Natural Resources rose 2.10% and Encana Corp was up 21.3%. \n\nAmong base metals stocks, Major Drilling moved up 2.99% and Teck Resources gathered 1.34%. \n\nGold stocks recovered from their early morning losses, with the index adding strength. \n\nAgnico-Eagle Mines moved up 1.38%. The company said Thursday that it will acquire all of the shares of Comaplex Minerals that it does not already own. Comaplex rallied 24.25%.\n\nGold miner PC Gold said it will raise $6.96 million through a private placement to fund its Ontario gold mine. The stock surged 7.59%.\n\nMinerals property company International Tower Hill Mines gained 2.05% after announcing 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\nInformation technology stocks rebounded from early morning lows. Open Text added 1.30%. \n\nResearch In Motion was trading at $69.04, recovering from an intraday low of $67.84. However, the stock was still down over 10% compared to its last Monday level.\n\nBombardier Inc. slipped 2.25% to $5.58. The company said Thursday that it will repurchase 0.21% each of its Class A and Class B shares. Macquarie trimmed the price target on the stock to $7.10 from $7.60.\n\nInvestment management company CI Financial edged down 0.05% despite reporting 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\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 0.79 cents to 99.72 cents U.S. \n\nON BAYSTREET \n\nNine of the 14 TSX subgroups reached higher by midday. ...