Business
TSX still in rut
TSX still in rut
About this update from Cenovus Energy Inc.
[{"type":"text","content":"\nTSX still in rut\n\nMetals, gold still trail\n Feb. 10, 2010 (Baystreet.ca) -- Canadian stocks have failed to extend their previous session's gains in mid-morning deals Wednesday. Even as traders were digesting contradicting reports on the Greek situation and trade numbers from both sides of the border, easing commodity prices weighed on their sentiment. \n\nThe S&P/TSX Composite Index had fallen 60.57 points by lunch hour to 11,213.67. \n\nThe Gold Index shed strength, as Eldorado Gold was down 2.47% and Anglo Gold slipped 2.73%. \n\nAmong energy plays, Suncor Energy surrendered 3.14% after it said that it has reached an agreement with Progress Energy Resources Corp. to sell certain natural gas properties for about $390 million. Progress Energy eased 1.08%. \n\nCenovus Energy moved down 1.54% and Encana Corp. lost 1.49%. \n\nOil and natural gas explorer Talisman Energy gave in 3.33% after the company slipped to loss reporting fourth quarter net loss of $0.11 per share, compared to net income of $1.17 per share last year. \n\nSuncor Energy slipped 2.34% after RBC trimmed its rating on the stock to "sector perform" from a "market perform". \n\nPrinter and publisher Transcontinental eased 0.62% after it said that it signed an agreement to sell its U.S. high-volume direct mail operations to IWCO Direct, a U.S.-company headquartered in Minnesota. \n\nMeanwhile, ARC Energy Trust rose 1.33% even after reporting net income for the fourth quarter of $0.28 per unit, lower than $0.38 per unit in the prior-year quarter.\n\nCanadian stock market operator TMX Group gained 2.79% despite reporting a fourth-quarter net loss of $0.36 per share, compared to net income of $0.65 per share last year.\n\nMining and metals company First Quantum Minerals edged up 0.32% after announcing the finalization of the acquisition of the Ravensthorpe Nickel Operation in Western Australia. \n\nCanadian National Railway edged up 0.04% after Raymond James upped its rating to an "outperform" from a "market perform". \n\nAir Canada rose 2.27% after reporting a narrower fourth-quarter net loss of $0.25 per share, down from a loss of $7.27 per share in the year-ago quarter. \n\nFurther, the airline operator said it plans to increase its full-year 2010 system capacity, by 4% to 6% from the full year 2009 level. Separately, it sa...