Business
TSX streak over
TSX streak over
About this update from Celestica Inc.
[{"type":"text","content":"\nTSX streak over\n\nGold, materials slump\n Feb. 22, 2010 (Baystreet.ca) -- Weakness in resources, energy and financials stocks pulled the Canadian market more into the red in afternoon trade Monday.\n\nThe S&P/TSX composite index was down 74.54 points on the day, to 11,634.75.\n\nProfit booking emerged amid choppy trading, in the absence of any leading news or economic releases, after the market gained over 5% in a spell that lasted eight days in a row.\n\nThe Energy Index was down, even as the price of crude oil hovered near $80 a barrel. \n\nEncana Corp. lost 2.6% to $33.87 and Suncor Energy Inc. shed 1.2% to $31.55. \n\nThe Gold Index was down, with Barrick Gold Corp. off 2.3% to $40.07, Iamgold Corp. down 2.6% to $15.21. Goldcorp Inc. shed 1.5% to $39.70. \n\nPC Gold Inc. surged 20.75% to 64 cents after the miner reported deep drilling below the Shaft 1 workings of its Pickle Crow gold mine returned the highest grade gold intersection on record for this structure.\n\nLinear Gold Corp. which announced the interception of a gold zone in its Goldfields mine development project in Saskatchewan, rose 3.7% to $1.97.\n\nAmong financials stocks, Royal Bank of Canada was down 0.9% to $56.60 and Sun Life Financial Inc. lost 1.8% to $30.70, while IGM Financial Inc gained 1.2% to $43.11. \n\nThe sentiment in the sector was cautious as Canadian banks are expected to release their quarterly earnings starting from this week.\n\nThe Health Care Index gave up strength, as Biovail Corp lost 0.8% to $15.50 and MDS Inc. eased 0.5% to $8.65.\n\nIn the IT sector, Open Text Corp. gained 1.9% to $50.16 and Celestica Inc. added 0.5% to $11.12, while Research In Motion Ltd. lost 1.9% to $72.60.\n\nNo major economic data were released Monday in Canada as well as the U.S.\n\nThe Canadian dollar slid 0.35 cents to 95.91 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, eight were down on the day, weighed down mostly by gold's 1.7% decline, materials' 1.1% drop and a 0.9% descent by energy stocks. \n\nTelecoms led the five upward groups, gaining 0.3%, while metals and mining stocks were tied with information technology for the runner-up spot, each ahead 0.2%. \n\nConsumer discretionaries were flat. \n\nThe TSX Venture Exchange stumbled 3.43 points to 1,528.47, while the Nasdaq Canada index lost 10.38 points to 745.88.\n\nON WALLSTREET\n\nIn New ...