Business
TSX steps higher
TSX steps higher
About this update from Kinross Gold Corporation
[{"type":"text","content":"\nTSX steps higher\n\nMetals, gold lead Toronto higher\n Apr. 1, 2010 (Baystreet.ca) -- Canadian stocks were moderately higher at the open Thursday amid continued recovery in commodities prices and lackluster corporate earnings news.\n\nThe S&P/TSX Composite Index began the last session of a short week up 48.18 points to 12,085.91. \n\nWhile a relatively encouraging prelude to Friday's U.S. non-farm payrolls report may lift spirits, disappointing quarterly results from RIM and Bombardier could raise red flags about the corporate climate.\n\nCanadian stocks may stall after grinding out gains to reach their highest levels since the onset of the financial crisis.\n\nNorth American markets are closed for Easter break Friday.\n\nIn corporate news, blackberry maker Research In Motion reported fourth-quarter net income of $1.27 per share, up from $0.90 per share in the year-ago period. However, the numbers missed analysts' expectations for a net profit of $1.28 per share. \n\nFor the forthcoming quarter, the company guided earnings per share to be in the range of $1.31-$1.38. Goldman Sachs trimmed its rating on the stock to "Sell" from "Neutral".\n\nWireless communications company BCE Inc. said Wednesday that it will purchase for cancellation four million of its common shares pursuant to a private agreement with an arm's-length third-party seller. \n\nBombardier Inc. reported lower net income of $0.10 per share in fourth-quarter, compared to $0.17 in the same quarter last year. The company announced a quarterly dividend of $0.025 per share. \n\nGold miner Barrick Gold acquired an additional 25% interest in the Cerro Casale Project in Chile from Kinross Gold Corporation for $474 million and now owns a 75% interest in and gains control of the project. \n\nAustralian miner Lihir Gold announced Thursday that it has rejected a A$9.20-billion takeover bid by rival gold producer Newcrest Mining. \n\nMineral explorer Lake Shore Gold said it will sell its 50% ownership interest in the Ti-pa-haa-kaa-ning Joint Venture to Northern Superior. \n\nOil and gas company Canadian Natural Resources said it will buy back up to 2.5% of its outstanding shares in the next 12 months. \n\nOil fields services provider Forbes Energy Services reported a wider fourth-quarter net loss of $0.10 per share, compared to a net loss of $0.04 per share...