Business
TSX nears breakeven
TSX nears breakeven
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"\nTSX nears breakeven\n\nCommodity prices wobble\n Apr. 6, 2010 (Baystreet.ca) -- Canadian stocks were hovering near the unchanged line in mid-morning deals Tuesday amid fluctuating commodities prices.\n\nThe S&P/TSX Composite Index still trailed yesterday's close by 5.01 points at noon to 12,181.34\n\nAlso, renewed worries over the Greece debt situation weighed on sentiment.\n\nThe main index rose 4% in March amid recovery in commodities prices and on optimism over sustainability of the economic growth.\n\nAmong energy stocks, Nuvista Energy gathered 3.23%. Crew Energy shed 1.73%. \n\nOil and gas royalty trust NAL Oil and Gas Trust was down 1.70% after it said it will sell 7.55 million units at $13.25 per unit.\n\nAmong base metals stocks, Inmet Mining edged up 0.42% and First Quantum Minerals lost 1.35%. \n\nMinerals explorer Copper Mountain Mining eased 2.10% after announcing plans to sell 8.2 million shares at $3.05 per share.\n\nNickel explorer Mirabela Nickel was down 3.44%. The company said its director, Nick Poll, resigned in order to focus on new business ventures. \n\nThe price of gold was gradually recovering from its early morning losses\n\nIn the gold space, Agnico-Eagle Mines edged up 0.19%. Raymond James trimmed its price target on the stock to $73.70 from $76. \n\nMeanwhile, nickel miner Crowflight Minerals said it has received an offer letter from Jinchuan Group Ltd., China to acquire all of its common shares for $150 million, equating to about $0.26 per common share. The stock rallied 47.06% to $0.250. \n\nCommunications services provider Sandvine Corp. gained 6.63% after it turned to profit in first quarter, reporting net income of $0.004 per share, compared to net loss of $0.035 per share last year.\n\nNatural resources explorer VMS Ventures gained 1.52% after it said it would launch a new nickel exploration company and will own approximately 45% of the new company at the completion of the two private placements.\n\nGreece worries hit the market again after a newspaper report said Greece was seeking to raise around $10 billion from the U.S. investors. In other news, the country reportedly wanting to renegotiate a deal struck last month in the EU.\n\nIn economic news, Statistics Canada in its annual review released Tuesday said the country's international merchandise trade was affected by the decline of the gl...