Business
TSX expands gains
TSX expands gains
About this update from Magellan Aerospace Corporation
[{"type":"text","content":"\nTSX expands gains\n\nMetals lead Toronto market\n Mar. 29, 2010 (Baystreet.ca) -- Helped by a recovery in commodities prices, Bay Street stocks were hovering in the green in mid-morning deals Monday.\n\nThe S&P/TSX Composite Index broadened its gains to 52.87 points by noon, to 12,010.24\n\nA marginal increase in U.S. consumer spending and word of relatively solid demand for Greece's five-billion-euro bond offering has put a floor under stock prices.\n\nBase metals stocks attracted buyers, with the index adding 1.59%. Teck Resources climbed 2.17% and Major Drilling gathered 2.18%. \n\nAmong gold stocks, Kinross Gold moved up 2.85% and Anglo Gold added 1.13%. \n\nPrecious metal miner Greystar Resources edged up 0.33% after reporting fiscal 2009 loss of $0.43 per share, compared to a loss of $0.48 per share last year.\n\nIn the energy sector, Canadian Natural Resources gathered 1.70% and Niko Resources gained 2.08%. \n\nPetrominerales surged 7.23% to $33.80. RBC upped its price target on the stock to $41 from $39.\n\nCoal miner Phoenix Coal rose 3.61% even after reporting net loss of $78.60 million for full year 2009. \n\nMeanwhile, oil and gas explorer Enterra Energy Trust was down 1.47% after it slipped into the red in fiscal 2009, reporting net loss of $0.65 per unit, compared to net income of $0.11 per unit for the prior year. \n\nOil and gas explorer Antrim Energy gave in 0.93% after reporting fourth-quarter net loss of $0.04 per basic share, compared to a loss of US$0.05 per basic share in the prior year. \n\nFinancial stocks continued to tread lower for a second session, with the index slipping 0.51%. TD Bank was down 0.66% and Canadian Western Bank eased 0.65%. \n\nInvestment company Wilmington Capital Management nosedived 52.94% after reporting fiscal 2009 net loss of $0.02 per share compared to a loss of $0.03 per share for 2008.\n\nAerospace industry components maker Magellan Aerospace lost 9.09%. The company reported lower fourth-quarter net income of $0.05 per share, compared to $0.39 per share in the same quarter last year.\n\nElectric and gas motorcycle maker Zongshen PEM Power Systems moved down 2.34% after reporting net loss for the fourth quarter of $4,000, compared to net income of $2.7 million in the year-ago quarter.\n\nThe Canadian dollar picked up 0.60 cents to 98 cents U.S. \n\nON BAYSTREET \n\nOf the 14 ...