Business
TSX at breakeven
TSX at breakeven
About this update from Genesis Ai Corp
[{"type":"text","content":"\nTSX at breakeven\n\nGold hits record highs\n Nov. 6, 2009 (Baystreet.ca) -- Canadian stocks are slightly higher on Friday as record gold prices offset disappointing employment reports. The market is looking for a fourth straight positive close.\n\nThe S&P/TSX composite index was still ahead 21.59 points by noon to 11.202.29. \n\nFollowing two months of moderate growth, Statistics Canada said Friday morning that employment decreased by 43,000 in October, all in part time. This drop pushed the unemployment rate up 0.2 percentage points to 8.6%.\n\nGold stocks have surged after the precious metal reached above $1,100 U.S. for the first time. Iamgold has gained 5.6%, Royal Gold has added 3.7% and Agnico-Eagle Mines is up 3.2%. \n\nMaterials stocks are up, also boosted by gold's rally. Agrium has added 1.75% after its latest takeover proposal has been rejected by CF Industries Holdings.\n\nSNC-Lavalin has added 2.6% after the company said its third-quarter net income rose to $103.1 million or $0.68 per share from $91.3 million or $0.60 per share in the prior-year period.\n\nSuncor reported third-quarter earnings of $929 million for the recent quarter, compared to $815 million last year. The stock is up 0.3%.\n\nAir Canada is up 2.7% after the company reported that its third-quarter net income was $277 million or $2.44 per share, compared to a loss of $132 million or $1.32 per share in the same quarter last year. \n\nKingsway Financial Services has dropped 6.6% after the company reported third quarter net loss of $118.13 million U.S. or $2.19 U.S. per share, compared to net loss of $17.4 million U.S. or $0.32 U.S. per share last year.\n\nBrookfield Asset Management fell 2.7% after the company reported its net income for the third quarter dropped to $112 million U.S. or $0.17 U.S. per share from $171 million U.S. or $0.27 U.S. per share in the same quarter last year.\n\nThe Canadian dollar was off 0.47 cents to 93.33 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, nine gained ground. Gold jumped 2.7%, followed by consumer discretionary stocks, up 1.6%, and materials, ahead 1.5%. \n\nReal-estate took the biggest hit of the five losing groups, off 1.1%, while financials slid 0.6% and consumer staples slid 0.4%. \n\nThe TSX Venture Exchange moved up 4.88 points to 1,336.43, while the Nasdaq Canada index tailed off 4.60 points t...