Business
Stocks fade by noon
Stocks fade by noon
About this update from Inzinc Mining Ltd.
[{"type":"text","content":"\nStocks fade by noon\n\nReal-estate weighs TSX down\n Mar. 31, 2010 (Baystreet.ca) -- Bay Street stocks were little changed in mid-morning deals Wednesday, with selling in financial stocks offsetting gains in commodities stocks. \n\nThe S&P/TSX Composite Index was down 7.42 by noon time, to 12,036.79.\n\nSigns of a strong Canadian economic growth, with a surge in January GDP, helped lift sentiment. Meanwhile, mixed economic data from across the border and profit taking at higher levels capped big gains.\n\nBase metals stocks continued to attract buyers for a third straight session. \n\nInmet Mining surged 4.77% after it announced the finalization of a $500-million equity financing through a subsidiary of a Singapore-based investment company.\n\nTeck Resources was up 0.86% to $44.55 after UBS hiked its price target on the stock to $50.50 from $44.\n\nAmong gold stocks, Rand Gold rose 1.94% and Goldcorp added 0.69%. \n\nFood products maker GLG Life Tech rallied 7.24% after it turned to profit reporting fourth-quarter net income of $0.02 per share, compared to net loss of $0.40 per share last year.\n\nIn the financial sector, CIBC gave in 1.13% and RBC was down 0.72%.\n\nAmong IT stocks, Research In Motion lost 0.72%. The company is scheduled to announce its quarterly earnings after the markets close today. \n\nOpen TXT shed 1.33%.\n\nCanadian National Railway eased 1.38%. The company said today that it had sold a key section of track to Metrolinx for $165.5 million. \n\nBase metals explorer Iberian Minerals lost 8.00% after it reported a fourth-quarter net loss of $0.20 per share, compared to a loss of $0.06 per share in the same period last year.\n\nBase metals miner Ivernia Inc. was down 3.92% despite reporting fourth-quarter net income of $0.01 per share, compared with a net loss of $0.41 per share in the same period last year.\n\nTelecommunications industry services provider EXFO Inc. surrendered 4.83% after reporting a lower second quarter net earnings of $0.02 per share, compared to $0.04 per share in the last year quarter. Analysts expected the company to report earnings of $0.07 per share.\n\nToys and stationery company MEGA Brands slipped 2.00% after reporting a narrower fourth-quarter net loss of $0.60 per share compared to $8.83 per share in the prior year period.\n\nIn economic news, Statistics Canada said the country...