Business
Stocks uncertain at open
Stocks uncertain at open
About this update from Centerra Gold Inc.
[{"type":"text","content":"\nStocks uncertain at open\n\nGold, materials higher\n Dec. 9, 2009 (Baystreet.ca) -- Canadian stocks looked to turn into positive territory on Wednesday for a first time in five sessions as a weaker U.S. dollar boosted commodities.\n\nIn the first half-hour of trading, however, the S&P/TSX Composite faltered 30.14 points, to 11,338.78. \n\nCrude oil has added strength as traders await the Energy Information Administration's weekly inventory data. Meanwhile, gold has edged up in price and copper is down 2.75 cents to $3.181 U.S. per pound. \n\nIn corporate news, First Quantum Minerals Ltd. said it agreed to acquire the Ravensthorpe Nickel Operation in Western Australia from BHP Billiton for $340 million U.S.\n\nEnCana Corp. 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. said a syndicate of underwriters agreed to purchase about 88.62 million common shares of Centerra Gold from Cameco on a bought deal basis at $10.25 per share. \n\nXenos Group reported that its revenues for the fourth quarter increased 19% to $4.52 million from $3.80 million in the prior-year quarter.\n\nEvertz Technologies Ltd. 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 regained 0.16 cents to 94.17 cents U.S. \n\nON BAYSTREET \n\nAll but two of the 14 TSX subgroups were in negative territory at the session's start. Telecoms were down 1.2%, while financials gained 1.1% and consumer discretionaries scaled back 0.9%. \n\nThe two gaining groups were gold, shooting up 1.8% and materials, advancing 1.2%. \n\nThe TSX Venture Exchange regained 8.30 points to 1,410.54, while the Nasdaq Canada index was up 3.77 points to 676.98. \n\nON WALLSTREET\n\nIn New York, equities fell at Wednesday's open as investors were cautious about the global economy and health care reform.\n\nThe Dow Jones Industrials gave back 25.17 points in the first half-hour of trading to 10,260.80, while the S&P 500 faded 4.48 points to 1,087.46, while the Nasdaq fell 13.43 points to 2,159.06. \n\nStocks fell sharply Tuesday as investors eyed weak global markets, a rising dollar, falling oil and gold prices and some weak corporate results. \...