Business
Stocks uneasy at open
Stocks uneasy at open
About this update from Centerra Gold Inc.
[{"type":"text","content":"\nStocks uneasy at open\n\nCanadian GDP numbers disappoint\n Oct. 30, 2009 (Baystreet.ca) -- Bay Street stocks could see some weakness on Friday morning as data showed the Canadian economy contracted slightly in the month of August. Commodities are also lower after notable gains yesterday. \n\nSoon after the week's and month's final session began, the S&P/TSX composite index skidded 6.34 points, to 11,046.80. \n\nOn Thursday, the index surged 269.89 points or 2.49% to settle at 11,075.22, erasing a 2% drop from Wednesday.\n\nOn the commodity front, crude oil and gold both slipped in price and copper is down 2.85 cents to $3.001 U.S. per pound. \n\nIn earnings news, Tim Hortons announced third-quarter net income attributable to Tim Hortons of $61.18 million or $0.34 per share, compared to $78.76 million or $0.43 per share last year.\n\nCenterra Gold 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\nDomtar Corp 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. said its third-quarter net income after income taxes and non-controlling interests was $1.39 million compared with a loss of $0.95 million in the comparable period. The company reported earnings per share of $0.02 versus a loss per share of $0.01 for the quarter.\n\nEldorado 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\nImperial Oil 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\nEconomically speaking, Statistics Canada reported real gross domestic product fell 0.1% in August. GDP was expected to rise 0.1%, after being flat in July.\n\nThe Canadian dollar retreated 1.13 cents to 92.57 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, gainers nosed out losers seven to six. Telecoms posted the sharpest gains, up 3.1%, followed by a 1% hike for industrials and 0.8%...