Business
TSX inches up
TSX inches up
About this update from Centerra Gold Inc.
[{"type":"text","content":"\nTSX inches up\n\nBase metals up, real-estate down\n Dec. 30, 2009 (Baystreet.ca) -- Toronto stocks turned slightly higher on Wednesday, recouping some losses from the previous session, amid mild strength in the gold sector. An encouraging U.S. manufacturing report has led to some buying.\n\nThe S&P/TSX Composite index closed the day ahead 15.65 points to 11,717.46. \n\nGold stocks were up, as Seagold added 1% to $24.84, while Barrick Gold picked up 0.6% to $41.70 and Agnico-Eagle Mines gained 0.4% to $56.81. \n\nThe base metals sector was up as the March copper contract in New York gained two cents to $3.34 U.S. a pound. Teck Resources gave back 83 cents, or 2.2%, to $37.76.\n\nCameco Corp. announced Wednesday it had completed the sale its stake in Centerra Gold for $871 million, marking the final stages of the uranium giant's withdrawal from the gold business. \n\nCameco shares rose six cents to $33.90 while Centerra shares finished unchanged at $10.35.\nShareholders of Castle Gold Corp. have tendered 91% of the company's stock to Argonaut Gold Inc., which offered $1.29 cash each in a deal valued at $102 million. Argonaut plans to acquire remaining shares in first quarter of 2010. \n\nCastle Gold shares added a penny to $1.26 U.S.\n\nCanadian Real Estate Investment Trust has dropped 2.7% to $26.86 after the company acquired a 50% stake in part of the South Edmonton Common shopping centre for $39.2 million. \n\nThe Canadian dollar slid 1.14 cents to 94.78 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, gainers outnumbered losers eight to six. The global base metals group was the champ, up 1.2%, followed by telecoms, gaining 0.6% and consumer discretionaries, ahead 0.4%. \n\nReal-estate was the poorest off of the laggards, falling 0.8%, while metals and mining stocks were down 0.7% and health-care were 0.4% to the bad. \n\nThe TSX Venture Exchange regained 9.73 points to 1,492.89, while the Nasdaq Canada index slid 3.43 points to 728.65. \n\nON WALLSTREET\n\nIn New York, stocks churned late Wednesday, pulling back from 2009 highs hit just two days earlier, as a stronger dollar and some end-of-the-year wariness kept the market treading water.\n\nThe Dow Jones Industrials was up 3.10 points to finish at 10,548.51, while the broader S&P 500 was up 0.22 points to 1,126.42, while the tech-heavy Nasdaq moved ahead 2.88 point...