Business
Slight gain for TSX
Slight gain for TSX
About this update from Hudbay Minerals Inc
[{"type":"text","content":"\nSlight gain for TSX\n\nBase metals lead way\n Feb. 24, 2010 (Baystreet.ca) -- Bay Street defied predictions and opened higher Wednesday. \n\nThe S&P/TSX composite index prospered 53.59 points in the first half-hour of trading at 11,580.30\n\nToronto's main index suffered triple-digit losses Tuesday, as downbeat consumer confidence data from the U.S. brought about selling pressure across most of the sectors and injected some caution in the market. \n\nThe Index ended lower 108.04 points or 0.93% to 11,526.71 on Tuesday, its lowest closing level since February 12. \n\nIn corporate announcements, Thomson Reuters Corp. reported a fall in fourth-quarter net earnings attributable to common shareholders to $177 million U.S. from $560 million U.S.\n\nApparel retailer West 49 Inc. announced that it received a $25-million asset-based credit facility from the Bank of Montreal, for financing general operations and capital spending. \n\nMiranda Technologies Inc. reported fourth-quarter net income of $2.1 million compared to $7.4 million for the prior-year quarter.\n\nNon-alcoholic beverage company Cott Corporation reported a turnaround to profit in fourth-quarter 2009, with net earnings of $14.0 million compared to a net loss of $12.1 million last year.\n\nReal estate services provider FirstService Corporation reported loss from continuing operations of $0.40 per share in the fourth-quarter, compared to a loss of $0.74 per share in the year-ago quarter. \n\nHalo Resources Ltd. announced receiving approval from HudBay Minerals Inc. for drill programs at its Cold and Lost deposits in Manitoba.\n\nAmong economic releases, Statistics Canada will report corporate profits in the last quarter of 2009. \n\nThe Canadian dollar regained 0.21 cents to 94.90 cents U.S. \n\nON BAYSTREET \n\nAll but three of 14 TSX subgroups were higher in the early going Wednesday. Global base metals led the pack, gaining 1%, followed by gold, 0.9% higher and metals and mining stocks, gaining 0.8%. \n\nThe three laggards were health-care stocks, down 0.3%, utilities, off 0.2%, and consumer discretionary stocks, sinking 0.1%. \n\nThe TSX Venture Exchange stumbled 1.36 points to 1,518.63, while the Nasdaq Canada index regained 6.93 points to 738.06.\n\nON WALLSTREET\n\nIn New York, stocks rose early Wednesday as investors dug back in after the previous day's selloff and ...