Business
TSX slightly higher
TSX slightly higher
About this update from Cenovus Energy Inc.
[{"type":"text","content":"\nTSX slightly higher\n\nCanada GDP numbers roll in\n Nov. 30, 2009 (Baystreet.ca) -- Toronto stocks have moved modestly higher on Monday morning, recovering some of last week's losses. The key financial sector has led the way ahead of some key earnings reports. \n\nThe S&P/TSX Composite Index held onto its gains, to remain 33.65 points by noon to 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 are up ahead of earnings reports from National Bank. TD Bank, CIBC and Royal Bank, later in the week. Bank of Montreal, which reported last week, has jumped 1.75% and Royal Bank has added 1.1%. \n\nEnergy stocks are up as crude oil has edged higher amid choppy trading. EnCana Corp. has added 1.1% after the company said it has completed its transaction to split into two companies: Cenovus Energy and EnCana Corp.\n\nThomson Reuters dropped 8.3% 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 8.2% 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 slipped 0.2% 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 lost 1.8% 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 0.36 cents to 94.56 cents U.S. \n\nON BAYSTREET \n\nThe 14 TSX subgroups were evenly split by midday. Financials led the parade of winners, ahead 0.7%, while gold and materials tacked on 0.5% each. \n\nThe seven losing groups were weighed mostly by information technology, 0.7% down, real-estate, losing 0.5% and global base metals, which slid 0.4%. \n\nThe TSX Venture Exchange nipped ahead 0.21 points to 1,405.81, while the Nasdaq Canada edged upward 0.83 points to 647.58. \n\nON WALLSTREET\n\nIn New York, stocks took on more water by the ...