Business
Lackluster open for TSX
Lackluster open for TSX
About this update from Gildan Activewear Inc.
[{"type":"text","content":"\nLackluster open for TSX\n\nGold, metals suffer\n Feb. 10, 2010 (Baystreet.ca) -- Canadian stocks may struggle to extend their strong gains from the previous session Wednesday morning in Toronto, with markets on both sides of the border trying to make sense of conflicting reports on the Greek debt situation.\n\nThe S&P/TSX Composite Index fell back 51.78 points in the first hour of trading to 11,222.46\n\nThe main index witnessed a decent run up in the previous sessions on speculation that problems in the Greece will be solved by the European nations. However, with German officials saying nothing has been settled, traders may be hesitant to build positions in equities.\n\nThe price of oil edged down and the price of bullion was little changed. \n\nIn corporate news, Suncor Energy said that it has reached an agreement with Progress Energy Resources Corp. to sell certain natural gas properties for about $390 million. \n\nOil and natural gas explorer Talisman Energy slipped to loss reporting fourth-quarter net loss of $0.11 per share, compared to net income of $1.17 per share last year.\n\nMineral explorer New World Resources has decided to withdraw its proposed offering of EUR 700 million equivalent senior secured notes due to prevailing market conditions. \n\nMining and metals company First Quantum Minerals announced the finalization of the acquisition of the Ravensthorpe Nickel Operation in Western Australia. \n\nARC Energy Trust reported net income for the fourth quarter of $0.28 per unit, lower than $0.38 per unit in the prior year quarter.\n\nCanadian stock market operator TMX Group reported fourth-quarter net loss of $0.36 per share, compared to net income of $0.65 per share last year.\n\nAir Canada reported a narrower fourth-quarter net loss of $0.25 per share, down from a loss of $7.27 per share in the year-ago quarter. Further, the airline operator said it plans to increase its full year 2010 system capacity, by 4% to 6% from the full year 2009 level. \n\nSeparately, it said that it has tied up with a group of lenders to increase its term credit facility by $100 million\n\nApparel maker Gildan Activewear reported first-quarter net earnings of 0.23 per share, compared to $4.4 million U.S. or $0.04 U.S. per share in the prior-year quarter. \n\nFinancial services provider Home Capital Group reported fourth quarter net incom...