Business
TSX ends on right foot
TSX ends on right foot
About this update from Centerra Gold Inc.
[{"type":"text","content":"\nTSX ends on right foot\n\nMetals, gold, materials soar in T.O.\n Apr. 9, 2010 (Baystreet.ca) -- The Toronto stock market registered a solid gain Friday amid signs from the retail sector that suggested the American economy is continuing its slow and steady recovery.\n\nThe S&P/TSX Composite Index ended the day up 63.31 points to 12,176,84, a jump of 25.78 points or 0.2% on the week. \n\nEnergy stocks were lifted after Chevron Corp. said it expects first-quarter profit to be higher than the previous quarter, driven by higher earnings from its production and exploration operations, which are benefiting from higher commodity prices.\n\nThe announcement was good news to investors looking to the start of the U.S. first quarter earnings season next week. Imperial Oil gained 48 cents to $41.74 and Husky Energy was up 31 cents to $30.06.\n\nThe gold sector was up, as Barrick Gold climbed 37 cents to $41.47 while Kinross Gold improved 30 cents to $18.67.\n\nThe base metals sector rose as the May copper contract in New York was unchanged at $3.59 U.S. a pound. Teck Resources advanced 84 cents to $46.06 while Labrador Iron Mines Holdings gained 27 cents to $7.05.\n\nMetallurgical coal miner Cline Mining Corp. jumped 38 cents to 21.7% to $2.13.\n\nInvestors also took in major dealmaking in the North American retail sector. Convenience store operator Alimentation Couche-Tard Inc. is making a $1.8-billion U.S. cash hostile takeover bid for Casey's General Stores Inc., which operates primarily in the U.S. Midwest. Montreal-based Couche-Tard already has a significant presence in the United States, where it operates in eight geographic markets. Its shares jumped 82 cents to $19.02.\n\nAnd Research In Motion is buying QNX Software Systems from Harman International. The companies didn't disclose what RIM is paying for QNX, an Ottawa-based company with technology that helps bring the Internet to cars. RIM shares added 41 cents to $70.21.\n\nIn other corporate news, cable television, Internet and phone company Shaw Communications Inc. reported quarterly earnings of $138.7 million or 32 cents per share. That's down 11% from the same time last year. The company says quarterly revenue jumped 11% to $929 million and its shares rose 22 cents to $19.89.\n\nShares in Shoppers Drug Mart dipped 66 cents to $38.26 after the chain's president said Thursday th...