Business
TSX off to flying start
TSX off to flying start
About this update from Eldorado Gold Corporation
[{"type":"text","content":"\nTSX off to flying start\n\nMetals, energy stocks main agent\n Feb. 16, 2010 (Baystreet.ca) -- Bay Street stocks moved up for a fifth session in mid-morning deals Tuesday, supported by gains in energy, financial and base metal stocks.\n\nThe S&P/TSX Composite Index approached noon ahead 90.25 points to 11,560.06. Markets took Monday off for Family Day. \n\nStrong manufacturing numbers from both sides of the border, released earlier today, also aided the sentiment. Moreover, investors appeared to have brushed aside worries over the euro zone after European leaders insisted Greece to slash spending and wages savagely to contain its deficit. \n\nAmong financial plays, Canadian Imperial Bank rose 1.20% and Bank of Montreal added 0.74%. \n\nManulife Financial Corp. snapped its two-day losing streak, gaining 0.42%. Last week, the company reported fourth-quarter net income of $0.51 per share, compared to a loss of $1.24 in the same period last year.\n\nMeanwhile, Sun Life Financial moved down for a third day, erasing 0.46%. Thursday, the company announced that its fourth-quarter profits more than doubled to $0.52 per share from $0.23 per share in the year ago quarter. \n\nThe Energy Index rose along with the price of oil. PetroBank Energy surged 4.26%. Canadian Natural Resources edged up 1.26%.\n\nEnergy company Nexen Inc. edged up 1.26% after it said it will sell its subsidiary, Nexen Energy Marketing London Ltd to Nomura Holdings Inc. for $55 million. \n\nIn the base metals sector, Major Drilling and Teck Resources surged over 4% each.\n\nAmong gold plays, Eldorado Gold gathered 3.68% and Rand Gold was up 2.85%. \n\nGold and precious metals explorer Orvana Minerals eased 0.95%. Friday the company reported first-quarter net income of $0.01 per share, compared to a profit of $0.03 per share in the prior-year quarter. \n\nSilver miner Pan American Silver added 2.12% after reporting fourth-quarter net income of $0.31 per share, compared to a loss of $0.41 per share in the same period last year.\n\nMineral explorer Soltoro Ltd. added 2.70%. Friday the company announced the completion of a non-brokered private placement of 6.71 million units at $0.35 per unit for total gross proceeds of $2.35 million.\n\nUranium and gold explorer First Uranium shed 2.10% after the company slipped to loss, reporting third-quarter consolidated loss of $0.09...