Business
TSX stays in green
TSX stays in green
About this update from Descartes Systems Group Inc.
[{"type":"text","content":"\nTSX stays in green\n\nMaterials, gold lead parade in T.O.\n Dec. 2, 2009 (Baystreet.ca) -- Canadian stocks have continued to rise on Wednesday as record gold prices have led bullion producers into the green.\n\nAt noon, the S&P/TSX Composite Index was up 38.02 points to 11,745.34. \n\nHowever, markets are lackluster on both sides of the border even after a key prelude to Friday's pivotal U.S. jobs data hinted the labour market may have bottomed out.\n\nGold stocks are up as the precious metal has surged toward $1,220 U.S. New Gold has rallied 6.7% and Eldorado is up 4.5%. \n\nGoldcorp Inc. is up 1.8% after the company announced its has agreed to sell Desarrollos Mineros' 21.2% interest in the Morelos gold project in Mexico for to Newstrike Capital Inc. in a deal worth about $52 million.\n\nAgrium rose 2.8% after the company announced that it intends to nominate a slate of directors to stand for election at CF Industries Holdings' 2010 annual stockholder meeting. \n\nRival Potash has rallied 3.3% after the fertilizer maker said will resume operation at a Sussex-area mine on Sunday, following a temporary shutdown, according to the Canadian Press.\n\nLogistics services provider Descartes Systems Group has dropped 1.6% after the company reported its third-quarter net income declined to $988,000 or $0.02 per share from $2.32 million or $0.04 per share in the previous year. \n\nCanadian National Railway has slipped 0.9% after it made a new offer to the Teamsters Canada Rail Conference or TCRC, in an effort to break the impasse with the TCRC and end the strike. \n\nResearch in Motion has gained 1.6% after rival Nokia said it expects industry mobile device volumes in 2010 to be up about 10%.\n\nThe Canadian dollar slid 0.11 cents to 95.45 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, nine were positive by lunch hour. Materials marched 2.5%, while gold gained 2.3%, and global base metals advanced 1.9%. \n\nThe five losing groups were weighed by consumer staples, sliding 1%, energy stocks were off 0.8%, and financials were off 0.1%. \n\nThe TSX Venture Exchange gained 9.76 points to 1,460.25, while the Nasdaq Canada advanced 8.69 points to 675.80. \n\nON WALLSTREET\n\nIn New York, bank and commodity shares slipped and select techs gained Wednesday as investors weighed mixed readings on the labour market, GM's management shake...