Business
TSX surges
TSX surges
About this update from Genesis Ai Corp
[{"type":"text","content":"\nTSX surges\n\nGold peaks\n Dec. 1, 2009 (Baystreet.ca) -- Toronto stocks moved notably higher on Tuesday as gold continued to add to its record highs. The rise easily erased some recently-seen weakness. \n\nThe S&P/TSX Composite Index approached noon ahead 244.72 points, or 2.1%, at 11,691.92\n\nGold stocks have gained and materials are also up as the metal has challenged $1,200 U.S. per ounce on the Comex. Seagold has rallied 7.8%, Barrick is up 6% and Iamgold has gained 5.2%. \n\nMining stocks are up as copper has rallied toward $3.20 U.S. a pound. HudBay is up 2.9%, First Quantum has added 2.3% and Teck Resources is up 1.6%.\n\nIn corporate news, Enerflex Systems has gained 2.6% after its board recommended rejecting a takeover offer from Toromont Industries. Toromont has added 0.25%. \n\nEXFO Electro-Optical Engineering has added 3.1% after the company said it now expects net earnings for the first quarter to be $0.00 to $0.01 U.S. per share.\n\nRutter rallied 11.5% after the company reported net earnings for the fourth quarter of $310,000, compared to a loss of $18.40 million in the previous-year quarter. \n\nCanadian Pacific has added 2.1% after the company said it will make a $500-million voluntary payment to its pension plan as rival Canadian National Railway deals with a strike.\n\nThe Canadian dollar gained 1.20 to 95.91 cents U.S. \n\nON BAYSTREET \n\nAll 14 TSX subgroups were positive to begin the day and the month. Gold leaped 5.1%, followed by materials, up 4.6% and metals and mining, picking up 3.2%. \n\nThe TSX Venture Exchange gained 26.13 points by noon to 1,441.19, while the Nasdaq Canada advanced 18.16 points to 664.57. \n\nON WALLSTREET\n\nIn New York, stocks rallied Tuesday as worries about Dubai's debt problems dissipated, housing and construction spending reports topped forecasts, and GE and Comcast moved closer to a deal on NBC Universal.\n\nInvestors also kept an eye on gold, which crossed the $1,200-an-ounce mark for the first time. \n\nThe Dow Jones Industrials picked up 134.30 points, or 1.3% by midday, to 10,479.14. The S&P 500 index gained 13.88 points to 1,109.51, while the Nasdaq zoomed up 33.42 points to 2,178.02. \n\nDubai World, the city-state's main investment arm, said it is in talks to restructure $26 billion U.S. in debt, cooling worries that it might go into default and wipe out the inve...