Business
TSX subsides
TSX subsides
About this update from Bombardier Inc. Class A
[{"type":"text","content":"\nTSX subsides\n\nEnergy, materials weigh T.O. down\n Apr. 6, 2010 (Baystreet.ca) -- The Toronto stock market was down slightly Tuesday afternoon with little in the way of major economic news to spur buying or selling.\n\nThe S&P/TSX Composite Index slid 29.64 points on the day to 12,156.71. \n\nAnalysts said a break was due following a 1.6% rise at the Toronto Stock Exchange over the previous five sessions due to rising commodity prices and positive economic data.\n\nThere were also worries that a European bailout plan for Greece would prove insufficient to contain the country's debt crisis. Reports earlier in the day said that the debt-laden country is trying to renegotiate the terms of its aid package after discovering how stringent any involvement from the International Monetary Fund would be.\n\nA Finance Ministry official later denied those reports. A deal was hammered out last month which would provide Greece with bilateral loans from eurozone countries and the International Monetary Fund to avoid default.\n\nWeakness on the Toronto market was led by the industrials sector, down 0.61 per cent. Sector heavyweight Bombardier Inc. gained four cents to $5.63 while Canadian National Railways shed 59 cents to $61.51.\n\nThe energy sector was another major loser, down as oil stepped back after a weaker U.S. dollar and positive American economic data helped send crude surging more than eight per cent over the past six sessions. Canadian Natural Resources lost 74 cents to $79.15.\n\nSuncor Inc. dipped a nickel to $35.17 as the company announced that an upgrader at its oilsands facility in Fort McMurray, Alta., is back online ahead of schedule after a fire in early February. Suncor also said Monday that production numbers for March have also surpassed their original estimate -- 245,000 barrels a day over the 230,000 barrels a day originally forecast for the month.\n\nThe base metals sector stepped back while May copper was unchanged at $3.63 U.S. a pound. Labrador Iron Mines Holdings declined 43 cents to $7.09 while Equinox Minerals advanced two cents to $4.15.\n\nThe TSX global gold index was slightly lower with Goldcorp Inc. down 59 cents to $38.28.\nIn the telecom sector, BCE Inc. gained 13 cents to $30.43 after the telecom said it has sold its stake in satellite services company SkyTerra Communication Inc. for about $111 millio...