Business
TSX steps back at open
TSX steps back at open
About this update from Grid Battery Metals Inc
[{"type":"text","content":"\nTSX steps back at open\n\nCPI down in Canada\n\n Apr. 23, 2010 (Baystreet.ca) -- Bay Street stocks may move in a narrow range Friday amid flat commodities prices. Traders were digesting the just released data, which revealed the country's annual inflation unexpectedly slowed in March. \n\nThe S&P/TSX Composite Index stumbled to start Friday's session, giving back 10.37 points, to 12,150.50\n\nHowever, sentiment in early trading may be lifted on news that Greece opting for bailout loans from the euro zone and the IMF.\n\nIn corporate news, International Forest Products reported a narrower first quarter loss of $0.07 per share, compared to a loss of $0.29 in the year-ago period. \n\nSears Holdings said it will buy another 17.3% stake in merchandising company Sears Canada by purchasing 18.7 million shares at $30 each. This would take up its total stake to 90.4%.\n\nCopper miner Lions Gate Metals and AusNiCo said they will terminate the proposed merger agreement, due to lengthy due diligence and regulatory delays, a blockade at LGM's proposed drill program site and market volatility.\n\nSterling Shoes Income Fund announced that Jeremy Horwitz has resigned as President and Chief Executive Officer effective Thursday for personal reasons. \n\nGold producer OceanaGold Corp. announced that it has appointed Bill Myckatyn to Board of Directors \n\nIn economic news, Statistics Canada said the country's annual inflation rate slowed to 1.4% in March from 1.6% the previous month. The agency noted that gasoline prices exerted the most upward pressure on the all-items consumer price for a fifth straight month.\n\nIn other report released today, the agency said retail sales in Canada were up 0.5% in February from the previous month, following January's 0.9% increase. Excluding auto, retail trade slipped 0.1% on a monthly basis compared to the consensus forecast of 0.8% increase.\n\nThe Canadian dollar docked 0.56 cents to 99.43 U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, seven were in positive territory to begin Friday. Information technology was the leader, ahead 0.6%, followed by metals and mining stocks, up 0.3%, and health-care, gaining 0.2%. \n\nThe half-dozen laggards were weighed by financials, docking 0.4%, gold stocks, off 0.2%, and energy issues, down 0.1%. \n\nThe TSX Venture Exchange slipped 1.97 points to 1,650.08, while the...