Business
Bullish Monday for TSX
Bullish Monday for TSX
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\nBullish Monday for TSX\n\nGold shines brighter\n Nov. 9, 2009 (Baystreet.ca) -- Bay Street stocks saw some early strength on Monday with commodities moving notably higher. U.S. stocks are also pointing higher after world financial leaders agreed to stick with current stimulus plans at the latest G20 meeting over the weekend.\n\nThe S&P/TSX composite index jumped out of the starting blocks, gaining 162.63 points, or 1.4% to 11.250.42. \n\nGold continued to extend its record highs, copper added 3.65 cents to $2.989 U.S. per pound and crude oil added strength. \n\nOn the corporate front, Ensign Energy Services reported its third-quarter net income plummeted to $16.90 million or $0.11 per share from $72.07 million or $0.47 per share in the previous year. In the second quarter, the company's net income was $13.21 million or $0.09 per share.\n\nQuadra Mining reported third quarter earnings of $14.7 million U.S. or $0.15 U.S. per share, compared to $20.77 million U.S. or $0.31 U.S. per share last year.\n\nAngiotech Pharmaceuticals reported third-quarter net loss of $7.8 million U.S. or $0.09 U.S. per share, compared to a net loss of $622.38 million U.S. or $7.31 U.S. per share last year. \n\nCGI Group reported that its fourth-quarter net earnings from continuing operations were $82.55 million or $0.27 per share, compared to $75.26 million or $0.24 per share in the same quarter last year.\n\nAutoCanada Income Fund reported its third-quarter net earnings of $5.10 million or $0.256 per share, compared to restated net loss of $38.32 million or $1.892 per share in the same period last year.\n\nThe Canadian dollar strengthened 1.55 cents to 94.55 cents U.S. \n\nON BAYSTREET \n\nAll 14 TSX subgroups moved higher in the early going. Metals and mining leaped 2.8%, followed by global base metals and gold stocks, ahead 2.2% each. \n\nThe TSX Venture Exchange moved up 12.93 points to 1,353.55, while the Nasdaq Canada index was 9.77 points in the black to 649.02. \n\nON WALLSTREET\n\nIn New York, stocks, fresh off a solid week of gains, started strong Monday amid talk about some major deals in the works.\n\nThe Dow Jones Industrials were higher by 79.88 points in the first half-hour of trading to 10,103.30. The S&P 500 index strengthened 9.84 points to 1,079.14, while the Nasdaq composite index was up 23.27 points to 2,135.71. \n\nU.S. stocks bou...