Business
Equities fall deeper
Equities fall deeper
About this update from Centerra Gold Inc.
[{"type":"text","content":"\nEquities fall deeper\n\nCommodities prove drag on markets\n Oct. 30, 2009 (Baystreet.ca) -- Canadian stocks turned back to the downside on Friday, continuing recent volatile movement, as commodities dragged the resource sectors into the red. \n\nAs the clock approached noon, the S&P/TSX composite index had plummeted 146.26 points, or 1.3%, to 10,928.96. \n\nAmong gold stocks, Agnico-Eagle Mines plunged 5%, New Gold is down 3.6% and Yamana has lost 3.5%. \n\nCenterra Gold is down 0.4% after the company reported its third-quarter net earnings were $20.2 million U.S., 20% higher than $16.9 million U.S. in the previous year. Earnings per common share for the recent quarter grew 15% to $0.09 U.S. from $0.08 U.S. a year ago.\n\nEldorado has dropped 2.1%, although the company reported its third-quarter net income was $30.15 million U.S. or $0.08 U.S. per share, compared with $17.04 million U.S. or $0.05 U.S. per share last year. \n\nMining stocks are down, giving back some of yesterday's gains. HudBay has lost 3.1% and Inmet is down 2.1%. \n\nFinancials are down, as Toronto-Dominion has dropped 2.1%, Bank of Montreal is down 1.7% and CIBC has dropped 1.6%.\n\nFairfax Financial has added 3.4% after the company reported its net earnings increased to $562.4 million U.S., or $30.88 U.S. per share, from $467.6 million U.S., or $25.27 U.S. per share in the year-ago quarter.\n\nEnergy stocks have also lost ground, Canadian Natural Resources has dropped 2.4%, Suncor is down 1.6% and Canadian Oil Sands has dropped 1.5%. \n\nImperial Oil has added nearly 1% after the company reported its third quarter profit fell to $547 million from $1.38 billion in the year-ago period. On a per share basis, net income decreased to $0.64 from $1.57. Operating revenues declined to $5.54 billion from $9.47 billion.\n\nTim Hortons has dropped 1.6% after the company announced third-quarter net income of $61.18 million or $0.34 per share, compared to $78.76 million or $0.43 per share last year.\n\nDomtar Corp. has surged 12.4% after the company reported net earnings of $183 million U.S. or $4.24 U.S. per share for the third quarter, compared to $43 million U.S. or $1.00 U.S. per share for the third quarter of 2008.\n\nGLG Life Tech Corp. has added 6.1% after the company said its third-quarter net income after income taxes and non-controlling interests was $1.39 mi...