Business
TSX still in red
TSX still in red
About this update from Dollarama Inc.
[{"type":"text","content":"\nTSX still in red\n\nMetals slump at opening\n Jan. 12, 2010 (Baystreet.ca) -- After opening lower, Canadian stocks continued to linger in the red Tuesday morning.\n\nThe S&P/TSX Composite Index had fallen 85.78 by noon to 11,861.35. \n\nLosses were more pronounced among energy and gold stocks, reflecting weakness in the commodity prices. Yesterday, the main index ended flat even after moving past the 12,000 mark in morning session as traders opted to take profits.\n\nThe Energy Index slipped as the price of crude oil dipped near the $81 U.S. mark after hitting a new 15-month high in the previous session. Canadian Natural Resources shed 1.10% and Petrobakken Energy gave in 1.02%.\n\nGrande Cache Coal Corp. eased 1.47% even after it raised its production target for 2010 by 6% to between 1.6 million and 1.8 million tonnes.\n\nMeanwhile, the bullion eased, putting pressure on gold stocks. Anglo Gold surrendered 2.90% and Randgold lost 0.64%.\n\nHowever, Goldcorp. was up 0.50%. Yesterday, Brazil based Minera Penmont, said it has opted out of the takeover bid of Canplats Resources. Since last month, Goldcorp. and Penmont have been competing to acquire Canplats.\n\nDiscount retailer Dollarama Inc. slipped 1.61% after some of its shareholders, including Bain Capital LLC, plan to divest nearly 12 million shares at $21.50 to a group of banks.\n\nSatellite component maker COM DEV International shed 2.54% after reporting a dip in its fourth quarter earnings at $0.01 per share from $0.07 per share in the year-ago quarter.\n\nMatrikon Inc. gathered 8.62% despite announcing flat quarterly earnings of $0.09 per share. However, Velan Inc., which also posted flat third-quarter earnings of $0.34 per share, shed 0.63%.\n\nForestry plantation operator Sino-Forest Corp. rose 1.71% after it said its wholly-owned subsidiaries acquired China based engineered wood product maker, Homix Limited for $7.1 million.\n\nCanWest Global Communication was almost flat, surrendering an 8% gain seen in very early dealings. Four companies have lined up to take a potential stake in CanWest Global, the Globe and Mail reported today.\n\nThe Real Estate Index was down a marginal 0.10% as traders were digesting mixed flow of data from this sector. Today, Statistics Canada said home prices rose 0.4% in November, indicating growth in the housing market.\n\nIn economics new...