Business
Down day on Bay St.
Down day on Bay St.
About this update from Hudbay Minerals Inc
[{"type":"text","content":"\nDown day on Bay St.\n\nIntel trumps expectations\n Jan. 14, 2010 (Baystreet.ca) -- The Toronto stock market was lower Thursday afternoon in a broad-based decline as investors digested disappointing U.S. retail sales numbers and looked ahead to a key earnings report from the tech sector after the close. \n\nThe S&P/TSX Composite Index dropped 49.18 points to 11,804.38. \n\nThe TSX tech sector led advancers ahead of the Intel earnings, with Research In Motion Ltd. ahead 74 cents to $68.12. \n\nEastman Kodak Co. said it had filed suits against Apple Inc. and RIM, alleging those companies have violated patents related to digital camera and digital imaging technologies. \n\nAmong railway stocks, Canadian National Railways fell $1.57 to $55.24 while Canadian Pacific Railways lost $1.24 to $55.15. \n\nThe gold sector was down as Goldcorp Inc. lost $1.04 to $41.51. \n\nThe TSX energy sector moved down as Canadian Natural Resources gave back 70 cents to $72.80 and Husky Energy declined 53 cents to $29.39. \n\nThe base metals sector was down as March copper in New York was unchanged at $3.39 U.S. a pound. \n\nSherritt International declined 23 cents to $7.19, while HudBay Minerals dropped 14 cents to $14.26. \n\nShares in Duluth Metals Ltd. ran up $1.13 or 52.8% to $3.27 after announcing a joint venture with Chilean copper miner Antofagasta. Duluth owns the Nokomis project in Minnesota, which contains copper, nickel and platinum group metals. \n\nMining investors also took in a report from Anglo-Australian mining company Rio Tinto PLC that demand for iron ore, copper and gold rose strongly in the fourth quarter. But the global mining company was cautious about the current year as governments wind down economic stimulus programs. \n\nThe Canadian dollar gained 0.74 cents to 97.74 cents U.S. \n\nON BAYSTREET \n\nThe 14 TSX subgroups were evenly split between gainers and losers. Information technology was the champion of the former group, advancing 1.5%, while utilities and metals and mining stocks gained 0.5% each. \n\nThe seven losing groups were weighed by gold, off 1.6%, materials, down 1.3% and industrials, sliding 1%. \n\nThe TSX Venture Exchange gained 1.30 points to 1,594.51, while the Nasdaq Canada index added 7.47 points to 738.35.\n\nON WALLSTREET\n\nIn New York, equities rose Thursday, led by technology shares, as investors loo...