Business
TSX tries to move forward
TSX tries to move forward
About this update from Genesis Ai Corp
[{"type":"text","content":"\nTSX tries to move forward\n\nMetals lead Toronto\n Feb. 26, 2010 (Baystreet.ca) -- The Canadian market was stuck in the mud in the morning session Friday, amid lower trading volumes, with most of the sectoral indices seesawing back and forth. \n\nThe S&P/TSX composite index moved 12 points into positive territory by midday to 11,641.51. \n\nThe Energy Index was up as Cenovus Energy Inc. rose 1.37% and Encana Corp. was up 0.38%, while Imperial Oil Ltd. shed 0.41%.\n\nThe gold Index added 0.67%, as Red Back Mining Inc., which reported net income of $109 million for the year ended December 31, 2009, added 1.87%.\n\nEastmain Resources Inc. which announced the completion of its private placement of two million flow-through common shares for aggregate gross proceeds of $5 million, gained 2.86%.\n\nAmong financial stocks, Bank of Montreal was up 0.76% and Toronto-Dominion Bank rose 0.81%. Bank of Nova Scotia eased 0.15%.\n\nThe Information Technology Index shed 0.41%, with MacDonald, Dettwiler and Associates Ltd. easing 1.28% and CGI Group Inc. losing 1.25%.\n\nIn the consumer staples sector, Maple Leaf Foods Inc. lost 0.75% and George Weston Ltd. lost 0.43%, while Saputo Inc. rose 1.65%.\n\nPackaging products company Cascades Inc., which reported its fourth-quarter net loss widened to C$41 million from C$18 million in the prior-year quarter, shed 4.34%.\n\nMobile personalization company Bridgewater Systems, which reported an increase in its full-year net earnings to $11.2 million from $2.8 million in 2008, was up 2.92%.\n\nIn economic news, Statistics Canada reported the nation's fourth-quarter current account deficit narrowed to $9.8 billion from the revised $13.8 billion for the previous quarter.\n\nThe Canadian dollar gained 0.68 cents to 95 cents U.S. \n\nON BAYSTREET \n\nEight of the 14 TSX subgroups had gained ground by midday. Metals and mining stocks were 1.2% stronger, utilities and health-care issues 0.5% more robust. \n\nThe half-dozen laggards were weighed by information technology stocks, down 0.6%, industrials, off 0.5% and consumer staples, sliding 0.2%. \n\nThe TSX Venture Exchange picked up 8.68 points to 1,526.62, while the Nasdaq Canada index regained 8.68 points to 753.88.\n\nON WALLSTREET\n\nIn New York, stocks struggled Friday as investors took tentative steps amid a surprise drop in existing home sales, a surp...