Business
TSX clears 12K
TSX clears 12K
About this update from Mx Gold Corp.
[{"type":"text","content":"\nTSX clears 12K\n\nAll Toronto subgroups gain\n Mar. 23, 2010 (Baystreet.ca) -- Canadian stocks moved up further in mid-morning deals Tuesday, with base metals and information technology stocks posting decent gains.\n\nThe S&P/TSX Composite Index was up 62.07 points by noon to 12,029.24. \n\nInvestor sentiment was boosted after reports said the country's leading indicators advanced for a ninth straight month and on a marginal recovery in commodities prices. \n\nQuadra Mining's $1.51-billion deal to merge rival FNX also triggered positive sentiment among the mining stocks.\n\nBase metals stocks were in the limelight, with the index adding 2.28%. \n\nQuadra Mining and rival FNX Mining have agreed to merge a $1.51-billion all-stock deal. Each FNX share will be exchanged for 0.87 Quadra shares, valuing each FNX share at $15.12. \n\nFNX gained 4.98% to $15.59, well above the exchange price, indicating short covering in the stock. Quadra edged up 0.12%.\n\nMajor Drilling gathered 2.49%. \n\nMineral explorer Crowflight Minerals was down 3.03%. The company announced the appointment of Stephen Davies as its Chief Operating Officer.\n\nIn the information technology sector, Research In Motion gathered 1.77%. Celestica Inc. surged 4.22%.\n\nIT company Glacier Media rose 1.94% even after reporting lower net income of $0.15 per share for 2009, compared to $0.30 per share for the year-ago quarter.\n\nAmong financial plays, Scotiabank moved up 0.81%.\n\nInvestment banker C.A. Bancorp Inc. gathered 7.44% after reporting break-even net income for the fourth quarter, compared to a net loss of $0.39 per share for the year-ago quarter.\n\nIn the gold sector, Kinross Gold moved up 1.16%. \n\nMeanwhile, gold mining company Jaguar Mining shed 2.25% after reporting a wider fourth-quarter net loss of $0.36 per share, compared to a net loss of $0.05 per share in the prior-year quarter. \n\nAmong energy stocks, Crew Energy added 1.94%.\n\nOil and natural gas company Monterey Exploration gained 4.32% despite reporting lower funds from operations of $0.05 per share in the fourth quarter, compared to $0.11 per share in the prior year quarter.\n\nOil and gas explorer Angle Energy surrendered 5.19% after reporting lower net income for the fourth quarter at $0.04 per share, compared to $0.07 per share for the year-ago quarter.\n\nIn economic news, Statistics Ca...