Business
TSX in red at noon
TSX in red at noon
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\nTSX in red at noon\n\nMetals, gold weigh on T.O.\n Mar. 22, 2010 (Baystreet.ca) -- Canadian stocks continued to linger in the red in mid-morning deals Monday, with major weaknesses seen among base metals, energy and gold stocks.\n\nThe S&P/TSX Composite Index approached midday behind by 28.87 points to 11,919.11. \n\nRenewed concerns over the Greece debt-situations and falling commodities prices weighed on investor sentiment. \n\nGermany's chancellor said Sunday that a plan for Greece won't be discussed at a European summit this week. Also, the Bank of Greece said Monday that it expects the nation's GDP to sink 2%, putting further pressure on the euro, which continued to slip versus the dollar. \n\nAmong base metals stocks, Major Drilling was down 4.67% and First Quantum Minerals gave in 2.70%. \n\nMeanwhile, mineral explorer Ivanhoe Mines edged up 0.18% after it said it has issued 15 million common shares to Rio Tinto at $16.31 per share, for total proceeds of $241.1 million. With this Rio Tinto has increased its ownership in Ivanhoe to 22.4% from 19.6%.\n\nThe Energy Index slipped 0.86%, with Celtic Exploration surrendering 4.62% and Pacific Rubiales shedding 3.16%. \n\nAmong gold stocks, Goldcorp was down 1.60% and Agnico Eagle Mines moved down 1.57%. \n\nGold mining company Mundoro Capital dwindled 28.80% after it posted full year net loss of $0.12 per share, wider than $0.03 per share in the prior year period.\n\nBio pharmaceutical company Helix BioPharma slipped 6.91%. The company said it has achieved last-patient-out in its Phase II trial of Topical Interferon Alpha-2b for the treatment of ano-genital warts. \n\nMerchant banking company Pinetree Capital was down 2.25% after it announced the acquisition of 1.5 million common shares and 1.5 million common share purchase warrants of Kirrin Resources Inc. \n\nMeanwhile, health-care stocks were edging up, with SXC Health Solution gaining 1.13% and Biovail Corp adding 1.43%.\n\nWith no major economic news on tap today, movements in the prices of commodities will likely to guide trading on resource-heavy Bay Street.\n\nThe Canadian dollar was down 0.32 cents to 97.98 cents U.S. \n\nON BAYSTREET \n\nEight of the TSX subgroups were lower by noon. Metals and mining stocks slid 1.2%, while gold fell 0.9% and materials stumbled 0.8%. \n\nOf the half-dozen gainers, health-care issue...