Business
TSX continues strong
TSX continues strong
About this update from Dpm Metals Inc.
[{"type":"text","content":"\nTSX continues strong\n\nMaterials, gold lead pack\n Feb. 18, 2010 (Baystreet.ca) -- Bay Street stocks continued to move higher for the seventh straight session in mid-morning deals Thursday. \n\nAs the clock approached noon, the S&P/TSX composite index had gained 57.48 points, or half a percentage point, to 11,692.97.\n\nGauges of most sectors were in the green, with particular strength seen among gold stocks on encouraging earnings reports from major companies in the sector.\n\nThe Gold Index gathered steam, with Barrick Gold gaining 2.77%. The company today announced plans to spin off its African operations to create a new company, which will be listed in London. Also it reported that it earned $0.21 per share in the fourth quarter, compared to a loss of $0.53 per share in the year ago period. \n\nAgnico-Eagle Mines rose 3.22% after reporting fourth-quarter net income of $0.31 per share, compared to net income of $0.15 per share in the same quarter last year.\n\nGold company Kinross Gold added 1.65% after it turned to black in fourth-quarter reporting net earnings of $0.34 per share, compared to net loss of $1.47 per share in the prior-year quarter.\n\nMeanwhile, precious metals miner Dundee Precious Metals shed 1.13% even after it swung to profit reporting fourth-quarter net earnings of $0.04 per share, compared to a net loss of $1.03 in the prior-year quarter.\n\nAmong technology plays, Research In Motion edged up 0.24%. The U.S. International Trade Commission said it launched an investigation of RIM and Apple smart phones that contains digital cameras, following a complaint from Eastman Kodak Co. \n\nHSBC Bank Canada reported higher net income of $0.30 per basic share for the fourth quarter 2009, compared to $0.22 per basic share for the fourth quarter of 2008. The stock eased 0.48%.\n\nInsurance provider Fairfax Financial Holdings rose 0.36% after it said it will acquire Zenith National Insurance Corp. for about $1.4 billion.\n\nEnergy company Nexen Inc. added 0.87% after it turned to profit in the fourth quarter, reporting net income of $0.49 per share versus a loss of $0.35 per share in the year-ago quarter.\n\nOil and gas industry services provider Trican Well Services slipped 1.61% after Morgan Stanley trimmed its rating on the stock to an "underweight" from an "overweight".\n\nSilver Standard Res...