Business
TSX starts week up
TSX starts week up
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\nTSX starts week up\n\nIndustrials lead rally\n\n May 3, 2010 (Baystreet.ca) -- Canadian stocks are likely poised for a mixed open Monday amid firm commodities prices and China's credit tightening measures.The S&P/TSX composite index started the week ahead 56.22 points to 12,266.92Concerns that the $146-billion U.S. bailout package for Greece will fail to stop contagion in Spain and Portugal may also put pressure on the sentiment. The People's Bank of China said Sunday it was raising its reserve requirement ratio by 50 basis points.Airlines stocks may be in play after United and Continental Airlines announced $3 billion merger plan to form the world's largest airlines.In corporate news from Canada, educational and professional publishing company McGraw-Hill Ryerson reported a narrower first quarter net loss of $1.25 per share, compared to a loss of $1.34 per share in the year-ago quarter. Wallpaper manufacturer Norwall Group posted fourth-quarter net loss of $0.58 per share, wider than $0.40 per share in the prior year period.Simulation-based services provider CAE Inc. announced the sale of three full-flight simulators valued at a total list price of about $50 million. Columbia Pacific Advisors, LLC has acquired a total of 781,000 common shares or 10.36% stake of communications services provider TeraGo Inc.Forestry products company Cathay Forest Products reported fourth quarter net loss of $0.02 per share, compared to a loss of $0.03 per share in the year-ago quarter.Independent energy development company Excelsior Energy posted fiscal 2009 net loss of $0.01 per share, narrower than $0.03 per share in the year-ago period.Kent Exploration said Friday it would spin off the Gnaweeda Gold Property from Kent into a separate company, to be named Archean Star Resources Inc.Goldgroup Mining said that it has completed business combination between Sierra Minerals and Goldgroup Resources and its shares are expected to begin trading on a consolidated basis under the symbol "GGA", after a corresponding adjustment in share price, on or about May 6Oil and gas company Canadian Phoenix Resources posted a fourth-quarter net loss of $0.12 per share, compared to net loss of $1.17 per share in the same quarter last year.Oil and gas explorer Alange Energy reported a narrower full-year 2009 net loss of $0.05 per share, compared to a loss of...