Business
TSX starts week off right
TSX starts week off right
About this update from Magellan Aerospace Corporation
[{"type":"text","content":"\nTSX starts week off right\n\nMetals lead Toronto market\n Mar. 29, 2010 (Baystreet.ca) -- Bay Street stocks opened marginally higher Monday amid recovery in the commodities prices and on easing worries over the Greece debt situation.\n\nThe S&P/TSX Composite Index picked up 29.79 points over the first half-hour of trading for a short week, to 11,987.16. \n\nAlso, a marginal increase in U.S. consumer spending could generate optimism about Canada's largest trading partner.\n\nIn corporate news, oil and gas explorer Enterra Energy Trust 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\nCoal miner Phoenix Coal reported net loss of $78.60 million for year ended December 31, 2009. \n\nOil and gas explorer Antrim Energy reported fourth-quarter net loss of $0.04 per basic share, compared to a loss of $0.05 U.S. per basic share in the prior year. \n\nHydrocarbons explorer Caza Oil & Gas reported full-year 2009 net loss of $0.03 per share, compared to net loss of $0.04 per share last year.\n\nPrecious metal miner Greystar Resources reported fiscal 2009 loss of $0.43 per share, compared to a loss of $0.48 per share last year.\n\nGold explorer Kenai Resources said it will acquire GoldOrigin Ltd, a private British Virgin Island corporation.\n\nInvestment company Wilmington Capital Management reported 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 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 reported net loss for the fourth quarter of $4,000, compared to net income of $2.7 million in the year-ago quarter.\n\nIn brokerage updates, RBC upped Petrominerales' price target to $41 from $39. Goldman Sachs increased Brookfield Properties price target to $17 from $15.\n\nThe Canadian dollar picked up 0.51 cents to 97.92 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, all but four were higher in the early going. Metals and mining was the biggest gainer, at 1.5%, followed closely by global base metals, up 1.4% and energy, ahead 0.9%. \n\nThe four laggards were weighed down mostly by financials, off 0.5%, real-estate, tra...