Business
TSX takes breather
TSX takes breather
About this update from First Quantum Minerals Ltd.
[{"type":"text","content":"\nTSX takes breather\n\nU.S. inflation numbers roll in\n Mar. 18, 2010 (Baystreet.ca) -- Bay Street stocks were down in mid-morning deals Thursday as commodities prices were off from their recent highs after worries over the Greece debt situation resurfaced.\nThe S&P/TSX composite index fell back 92.29 points by noon time, to 12,008.37. \nProfit taking at higher levels after the main index settled the previous session at its calendar year high, also weighed on the market.\n\nThursday, Greece Prime Minister said that his country may have to approach IMF for aid, in case if it fails to get support from the European Union. \n\nAmong energy stocks, Celtic Exploration was down 1.54%. \n\nOil and natural gas explorer Petrobank Energy eased 0.45%. \n\nYesterday, the company reported more than twofold rise in its fourth-quarter net income at $57.1 million compared with $28.08 million in the year-ago quarter. \n\nAnother oil and natural gas explorer Cequence Energy shed 1.44% even after reporting a narrower loss of $0.41 per share for the full year 2009, compared to $0.84 per share in the prior year.\n\nMeanwhile, exploration services provider Open Range Energy edged up 0.5% despite reporting a lower Funds From Operations of $0.14 per share for the fourth quarter, compared to $0.23 per share in the prior year quarter.\n\nThe price of bullion was trading almost flat, sustaining around 2% gains made so far this week. Among gold stocks, Lihir Gold rose 2.70%. \n\nMineral explorer European Goldfields edged up 0.8% despite reporting a fourth-quarter net loss of $0.04 per share, compared to a profit of $0.04 per share last year.\n\nSilver producer Great Panther Silver rose 2.22% after it swung to profit, reporting fourth-quarter net income of $0.01 per share, compared to a loss of $0.02 per share during the corresponding quarter last year.\n\nGold and silver explorer Starcore International Mines slipped 6.25%. The company posted a second-quarter net income of $77,000 compared with a net loss of $22,000 in the previous-year period.\n\nCitigroup trimmed its rating on the global financial sector to "Neutral' from 'Overweight'. \n\nIn other news, a U.S. federal judge dismissed a shareholder lawsuit against CIBC claiming that the bank misled investors about its exposure to the U.S. sub prime mortgage market. CIBC eased 0.5%.\n\nCanadian Wester...