Business
TSX off nearly 100 points
TSX off nearly 100 points
About this update from Northern Lights Resources Corp
[{"type":"text","content":"\nTSX off nearly 100 points\n\nMetals weigh market\n Apr. 13, 2010 (Baystreet.ca) -- Retreating commodities prices and a discouraging quarterly earnings numbers from aluminum producer Alcoa put pressure on the Canadian stocks in mid-morning deals Tuesday. \n\nThe S&P/TSX Composite Index plunged 95.61 points by lunch time to 12,053.05.\n\nMeanwhile, economic data came in mixed. While Canadian trade surplus grew in February, new home prices rose at an anemic pace in February.\n\nBase metals and mining stocks turned in poor performances after the largest aluminum producer in U.S. Alcoa Inc reported lower than-expected first quarter sales, after the market closed Monday. \n\nFirst Quantum Minerals lost 2.55% and Inmet Mining moved down 1.25%. \n\nAmong gold stocks, Barrick Gold shed 2.44% and Anglo Gold gave in 2.53%.\n\nIn the energy space, Suncor Energy slipped 1.90% and Canadian Oil Trust shed 2.55%.\n\nDollar stores operator Dollarama surrendered 3.53% after it said three of its shareholders will sell at least 10.1 million shares for $24.60 a share in a secondary offer.\n\nAgricultural products dealer Viterra Inc. eased 0.53%. The company said it will sell its 50% interest in the Australian Bulk Alliance joint venture to Sumitomo. \n\nMedical devices maker Neovasc Inc. plummeted 6.58% even after reporting significantly narrower full-year consolidated net loss of $0.18 basic loss per share compared to $2.95 basic loss per share in the prior year period.\n\nPetroleum and natural gas explorer NuLoch Resources nosedived 13.73% despite it swung to profit in fourth quarter, reporting net earnings of $0.02 per share, compared to a loss of $0.01 per share in the prior-year quarter.\n\nMeanwhile, oil and gas explorer Gale Force Petroleum rallied 20%. The company announced the closure of $1.74 million private placement.\n\nCoal miner CIC Energy moved up 5.11%. Notably, the company slipped into the red in first-quarter, reporting net loss of $0.06 per share compared with a net profit of $0.01 per share in the prior-year period. \n\nNatural gas focused energy trust Paramount Energy Trust edged up 0.21% after it said that it has agreed to sell three non-core properties for total proceeds of $34.1 million.\n\nBiotechnology company Thallion Pharmaceuticals gained 3.45% after reporting a narrower net loss of $0.08 per share for the first quarte...