Business
Caution may inhibit markets today
Caution may inhibit markets today
About this update from Newpath Resources Inc
[{"type":"text","content":"\nCaution may inhibit markets today\n\nMetals stocks trip soon after open\n Mar. 15, 2010 (Baystreet.ca) -- Canadian investors are likely to remain cautious Monday amid falling commodity prices and after the main index moved past a crucial 12,000-mark for the first time in 2010. \n\nThe S&P/TSX composite index stumbled 0.62 points out of the starting blocks to 12,013.20. \n\nThe prices of commodities eased on renewed concerns that China will tighten its monetary policy to cool-off its economic growth. Meanwhile, Morgan Stanley said that it expects "multiple" increases in bank reserve ratio in China.\n\nIn corporate news, drilling and well services contractor Ensign Energy Services reported a drop in its fourth-quarter funds from operation to $0.38 per share from $0.71 per share in the year-ago period. Nonetheless, the company increased its quarterly dividend by 3% to $0.0875 per common share from $0.0850 per common share in the third quarter of 2009. \n\nMinerals explorer WGI Heavy Minerals swung to profit in the fourth quarter reporting earnings of $0.01 per share, compared to a loss of $0.15 per share in the prior-year quarter.\n\nNatural resources company Georox Resources reported a narrower net loss of $0.04 per share for the full year 2009, compared to a loss of $0.11 per share in the prior year quarter.\n\nExploration and mine development company Exeter Resource said it will spin-out its Argentine assets into Extorre Gold Mines Ltd. \n\nGold mining company Kirkland Lake Gold Inc. reported a wider third-quarter loss of $0.13 per share, compared to a loss of $0.08 per share last year.\n\nSoftware developer CounterPath Corp. reported a net loss of $0.06 per share for the third quarter, compared to a net loss of $0.08 per share for the year-ago quarter.\n\nIndustrial and commercial construction company Bird Construction Income Fund reported net income of $0.93 per unit for the fourth quarter, compared to $1.04 per unit in the prior year quarter and approved regular cash distributions of $0.15 per unit each for March and April 2010.\n\nIn brokerage updates, Raymond James hiked First Uranium rating to an "Outperform" from a "Market Perform". RBC resumed coverage of Afrium Inc. with an "Outperform" rating and trimmed Provident Energy Trust rating to an "Underperform" from a "...