Business
TSX in green
TSX in green
About this update from Imperial Oil Limited
[{"type":"text","content":"\nTSX in green\n\nGold strongest in Toronto\n Jan. 22, 2010 (Baystreet.ca) -- The stock picture brightened considerably in Toronto, after a horrible Thursday which saw the main index topple more than 200 points, and a Friday morning which found traders floundering. \n\nBy noon, the S&P/TSX Composite Index had assumed a more positive pose and gained 5.51 points, to 11,474.61. \n\nThe TSX financial sector was down on top of a 2% drop Thursday after U.S. President Barack Obama unveiled plans for limits on how large big banks can be. He also aims to end some of the risky trading large financial companies have used in recent quarters to boost profits.\n\nRoyal Bank gave back $1.19 to $53.51 and National Bank fell 87 cents to $56.54.\n\nThe base metals component shed most of the early losses as copper prices moved ahead six cents at $3.29 U.S. a pound. But Teck Resources was still down 82 cents to $38.92.\n\nEnergy stocks were weak as Imperial Oil shed 56 cents to $39.14.\n\nThe gold sector was strongest, as Barrick Gold Corp. gained $1 to $39.31.\n\nEnbridge Inc. said Thursday that its Alberta Clipper crude oil pipeline from Alberta to Wisconsin is set to come into service on April 1, months ahead of schedule. Its shares fell $1.05 to $46.57.\n\nMoly Mines Ltd. shares rose two cents to 96 cents as it said that Sichuan Hanlong Group has received approval from a regulatory wing of People's Republic of China for $200-million U.S. controlling interest investment in company.\n\nThe Canadian dollar skidded 0.30 cents to 94.76 cents U.S. \n\nON BAYSTREET \n\nAll but three of 14 TSX subgroups were higher. Gold led the upward charge, gaining 2.3%, followed by materials, up 1.3% and metals and mining, ahead 1.2%. \n\nThe three laggards were utilities and financials, down 0.6% each, while telecoms were 0.4% each. \n\nThe TSX Venture Exchange was still off 7.74 points to 1,551.17, while the Nasdaq Canada index staggered 0.02 points to 702.19.\n\nON WALLSTREET\n\nIn New York, the stock selloff accelerated Friday, with investors dumping shares for a third straight session, as upbeat corporate news failed to assuage worries about the Obama administration's bank plan.\n\nThe Dow Jones Industrials was 30.53 points in the red at 10,359.35. The S&P 500 was off 3.89 points to 1.112.59, and the Nasdaq swooned 14.14 points to 2,251.56. \n\nWall Street saw...