Business
Slight gains for TSX
Slight gains for TSX
About this update from Celestica Inc.
[{"type":"text","content":"\nSlight gains for TSX\n\nMetals stocks lead T.O.\n Mar. 10, 2010 (Baystreet.ca) -- Canadian stocks opened higher Wednesday on firm commodities prices and on encouraging economic data from China, one of Canada's largest export destinations. \n\nThe S&P/TSX composite index began Wednesday's session ahead 49.84 points to 11,968.55.\n\nThe price of oil was up in pre-market action, after OPEC raised its oil demand forecast for 2010, while bullion also improved in price.\n\nIn news positive to oil producers, Alberta may reduce energy royalties to spur investment in this sector, the Globe and Mail reported. \n\nIntegrated oil company Husky Energy announced plans to issue $700 million in medium term notes in two tranches.\n\nOil field services company Canyon Services Group slipped to loss in fourth quarter, reporting net loss of $0.05 per share, compared to profit of $0.19 per share in the prior year quarter.\n\nFinancial services provider Pinetree Capital swung to profit in the fourth quarter, posting net income of $0.15 per share, compared to a net loss of $0.71 per share in the previous-year period. \n\nMerchandise leasing company easyhome Ltd. reported a lower fourth-quarter net income of $0.14 per share, compared with $0.17 per share last year. \n\nGold explorer Minco Gold Corp. Tuesday announced it has discovered a large gold zone on its Oujiaba property in China. The stock rose nearly 60% to $1.50 on Tuesday. \n\nBio-pharmaceutical company Helix BioPharma reported a narrower loss in the second quarter at $0.06 per share, compared to $0.08 per share in the year-ago period. \n\nBio-pharmaceutical company QLT Inc. reported multifold growth in its fourth-quarter net income at $1.49 per share, compared to $0.08 per share last year. However, on a non-GAAP basis, the company posted breakeven per share.\n\nLogistic technology services provider Descartes Systems Group said its fourth-quarter net income declined to $0.17 per share from $0.29 per share in the prior year period. The adjusted earnings came in at $0.08 per share in line with analysts' estimates.\n\nMedia company Quebecor Inc. said it had turned to profit, reporting fourth-quarter net income of $1.12 per share, compared to net loss of $5.34 per share last year. \n\nIn brokerage updates, Scotiabank cuts its rating on Celestica Inc to "sector perform" from "sector...