Business
Stocks continue negative
Stocks continue negative
About this update from Centerra Gold Inc.
[{"type":"text","content":"\nStocks continue negative\n\nBanks, health-care stocks down\n Dec. 9, 2009 (Baystreet.ca) -- Bay Street stocks remain modestly lower on Wednesday, following the lead of markets across the globe. The main index is down for a fifth straight session.\n\nBy noon, the S&P/TSX Composite was still off by 27.15 points, to 11,341.78. \n\nHealth-care stocks are down, as Biovail has dropped 3.25%, MDS is down 2.4% and Cardiome has slipped 2%. \n\nToronto-Dominion has lost 1.9%, Royal Bank is down 1.7% and Scotiabank has declined 1.5%. \n\nLaurentian Bank of Canada has gained $0.70 after the lender raised its quarterly dividend to $0.36 a share from $0.34 -- becoming the first Canadian bank to raise its dividend in 15 months. \n\nIn corporate news, First Quantum has declined 3.6% after the company said it agreed to acquire the Ravensthorpe Nickel Operation in Western Australia from BHP Billiton for $340 million U.S.\n\nEnCana Corp. has added 1.8% after the company said its board has declared a quarterly dividend of $0.20 U.S. cents per share payable on December 31, 2009 to common shareholders of record as of December 21. \n\nCameco Corp. has slipped 1.2% after the company said it will sell about 88.62 million common shares of Centerra Gold on a bought deal basis at $10.25 per share. \n\nXenos Group has soared nearly 65% after the company reported that its revenues for the fourth quarter increased to $4.52 million from $3.80 million in the prior-year quarter.\n\nEvertz Technologies Ltd. has dropped 6.4% after the company reported net earnings for the second quarter of $17.5 million or $0.23 per share, lower than $34.1 million or $0.46 per share in the same quarter a year ago.\n\nThe Canadian dollar was ahead 0.71 cents to 94.72 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, nine were negative by midday. Health-care stocks had lost 1.8% by noon, followed by financials, off 1.4%, and telecoms, down 1.1%. \n\nThe five gainers were led by gold, up 1.6%, materials, 1.5% and metals and mining stocks, picking up 0.7%. \n\nThe TSX Venture Exchange charged ahead 15.52 points to 1,417.76, while the Nasdaq Canada index was up 15.16 points to 688.37. \n\nON WALLSTREET\n\nIn New York, stocks struggled higher Wednesday as a weak dollar boosted commodities and a report showing a surprise rise in inventories added to hopes about the recovery.\n\n...