Business
TSX leans upward
TSX leans upward
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"\nTSX leans upward\n\nGainers, losers evenly divided\n Mar. 30, 2010 (Baystreet.ca) -- The Toronto stock market was little changed Tuesday afternoon despite another dose of solid U.S. consumer data.\n\nThe S&P/TSX Composite Index was 14.49 points higher to end the day at 12,044.21\n\nThe base metals sector lost ground following a sharp rise on Monday even as the May copper contract on the Nymex added two cents to $3.56 U.S. a pound. First Quantum Minerals declined $6.63 -- or 7.2% -- to $85.93 while Teck Resources gained $1.00 to $44.19.\n\nAmong gold stocks, Goldcorp Inc. was down 78 cents to $37.54.\n\nEnergy stocks, such as Suncor Energy improved by 99 cents to $32.94 and Canadian Oil Sands Trust climbed 72 cents to $30.02.\n\nIn the industrials sector, Bombardier Aerospace shares rose 10 cents to $6.10. It has a memorandum of understanding with Chinese leasing company CLC Leasing Co. The transport giant will offer pre-delivery payment financing, delivery financing and leasing solutions to customers of its CSeries, Q400 and CRJ aircraft.\n\nThe consumer discretionary sector was ahead, with shares in auto parts giant Magna International up 39 cents to $63.72.\n\nThe rise followed an announcement showing Ontario automakers are driving up production. Honda Canada said Tuesday it will start up a second shift and add 400 jobs at its No. 2 assembly plant in central Ontario early next year. Just last week, General Motors of Canada said that it will recall more than 700 laid-off employees at two of its Ontario plants.\n\nResearch In Motion Ltd. was a drag on the TSX a day before the BlackBerry maker releases its latest earnings results. Its shares fell 83 cents to $76.43.\n\nYellow Media Inc. units slipped a penny to $6.21 as the company announced an agreement to buy the Canpages business in a $225-million deal that will combine two of Canada's biggest publishers of advertising directories and local web search engines. Yellow Media will pay $75 million in cash and issue $150 million worth of promissory notes to an investor group led by private equity firm HM Capital Partners.\n\nSaputo Inc., Canada's biggest cheese maker, continued streamlining its operations Tuesday with plans to close a milk plant in Ontario and consolidate distribution in the Toronto area. Saputo said about 190 employees will be affected by the moves but about two...