Business
TSX, N.Y. go opposite routes
TSX, N.Y. go opposite routes
About this update from Cenovus Energy Inc.
[{"type":"text","content":"\nTSX, N.Y. go opposite routes\n\nCanada GDP numbers roll in\n Nov. 30, 2009 (Baystreet.ca) -- Toronto stocks slipped below the unchanged line on Monday, even as a strong GDP report has outweighed worries over Dubai.\n\nThe S&P/TSX Composite Index ended the day 17.21 points lower, at 11,498.06\n\nThe market received a boost as Statistics Canada reported real gross domestic product increased 0.1% in the third quarter. Real GDP was up 0.4% in September.\n\nFinancials were up ahead of earnings reports from several big banks. Bank of Montreal rallied 1.9% to $53.93 and Royal Bank gained 0.2% to $56.81. \n\nNational Bank, TD Bank, CIBC and Royal Bank are expected to report quarterly earnings results later in the week.\n\nResearch in Motion slipped 0.8% to $60.97 after the stock's target price was lowered to $73 from $85 by Broadpoint.AmTech. The rating was left at "sell". \n\nEnCana Corp. slid 0.2% to $56.57 after the company said it has completed its transaction to split into two companies: Cenovus Energy and EnCana Corp.\n\nThomson Reuters turned higher 0.8% to $33.40 after the company announced that it has acquired the business of ASSET4 AG, a Swiss-based company. Terms of the agreement were not disclosed.\n\nCom Dev International plunged 8.6% to $3.29 after the company said its fourth-quarter revenues are projected to range between $56 million and $58 million. The company anticipates net loss to be less than $1 million for the quarter.\n\nCanadian National Railway Company lost 0.6% to $55.30 after the company's locomotive engineers went on strike over the weekend after talks broke off on Friday. CNR rejected a binding wage arbitration offer yesterday, according to reports. \n\nIGM Financial dropped 1.6% to $40.68 after the company announced that it has agreed to issue six million Non-Cumulative First Preferred Shares, Series B on a bought deal basis, for gross proceeds of $150 million.\n\nThe Canadian dollar chugged ahead 0.51 cents to 94.72 cents U.S. \n\nON BAYSTREET \n\nThe 14 TSX subgroups were evenly divided between winners and losers. Utilities gained the most, at 0.7%, followed by financials, up 0.5%, and consumer staples, ahead 0.3%. \n\nThe seven laggards were weighed by information technology, off 0.9%, health-care and industrials, sliding 0.7% each. \n\nThe TSX Venture Exchange finished ahead 9.46 points to 1...