Business
Equities off at noon
Equities off at noon
About this update from Genesis Ai Corp
[{"type":"text","content":"\nEquities off at noon\n\nAll TSX subgroups down\n Mar. 15, 2010 (Baystreet.ca) -- Snapping their three-day winning streak, Canadian stocks lingered in the red in mid-morning deals Monday as traders turned cautious ahead of a slew of economic data this week. \n\nThe S&P/TSX composite index gave back 96.05 points as the clock approached noon, to 11,917.77. \n\nMoreover, the main index closed the previous session at its calendar year high, prompting investors to book profit at higher levels. \n\nMeanwhile, commodities prices eased on renewed concerns that China will tighten its monetary policy to cool off its economic growth.\n\nThe Energy Index suffered the most, with Canadian Natural Resources surrendering 2.15%. Crew Energy lost 1.03%.\n\nDrilling and well services contractor Ensign Energy Services gave in 1.26% after reporting a drop in its fourth-quarter funds from operation at $0.38 per share from $0.71 per share in the year-ago period. \n\nNonetheless, the company increased its quarterly dividend by 3% to $0.0875 per common share from $0.0850 per common share in the third quarter of 2009. \n\nProvident Energy Trust was down 2.82% after RBC trimmed its rating on the stock to an "Under-perform" from a "Sector Perform".\n\nFinancial stocks were mixed ahead of a crucial finance reforms bill across the border. While Bank of Montreal and Canadian Imperial Bank edged up, National Bank of Canada and Canadian Western Bank were down marginally. \n\nIamgold was down 1.60%. Eldorado Gold slipped 1.25%\n\nMeanwhile, gold mining company Kirkland Lake Gold gathered 2.00% despite reporting a wider third-quarter loss of $0.13 per share, compared to a loss of $0.08 per share last year.\n\nExploration and mine development company Exeter Resource was up 2.16% after it said it will spin-out its Argentine assets into Extorre Gold Mines Ltd. \n\nFirst Uranium slipped 1.79%. Raymond James hiked its rating on the stock to an "Outperform" from a "Market Perform". \n\nMinerals explorer WGI Heavy Minerals rose 5% after it swung to profit in the fourth quarter reporting earnings of $0.01 per share, compared to a loss of $0.15 per share in the prior year quarter.\n\nAgrium Inc. eased 0.68%. RBC resumed coverage of the stock with an "Outperform" rating. \n\nIndustrial and commercial construction company B...