Business
TSX hopes to continue Santa rally
TSX hopes to continue Santa rally
About this update from Nuinsco Resources Limited
[{"type":"text","content":"\nTSX hopes to continue Santa rally\n\nGold, materials higher\n Dec. 24, 2009 (Baystreet.ca) -- Canadian stocks will look to continue their winning ways on Thursday ahead of a four-day weekend with commodity prices on the rose. Bay Street's main index has gained in four straight sessions to reach a three-week high.\n\nThe S&P/TSX Composite index added 35.96 points to begin an abbreviated session at 11,694.66\n\nVolume will likely be lighter than usual with many traders taking Christmas Eve off. The Canadian market will be closed on Friday for Christmas and again on Monday for Boxing Day. \n\nCrude oil prices are up, extending notable inventory-led gains from the previous session. Gold is up in price, and copper has added 1.7 cents to $3.1295 U.S. per pound. \n\nGoldcorp Inc. said it has matched Minera Penmont's offer to acquire Canplats Resources for $4.40 per share in a cash and stock deal. \n\nNuinsco Resources Ltd. announced the closing of a further tranche of its non-brokered private placement, having sold an aggregate of 11.11 million Flow-Through Units were sold for gross proceeds of nearly $1 million to the MineralFields Group. \n\nPriszm Income Fund announced that it has sold its food processing facility located in Toronto for gross proceeds of $11.5 million.\n\nThe Canadian dollar was flat at 95.38 cents U.S. \n\nON BAYSTREET \n\nAll but two of the 14 TSX subgroups were higher, led by gold, ahead 0.9%, materials next, with a 0.7% improvement, and global base metal stocks were 0.6% higher. \n\nThe two losing groups were off only slightly, and they were consumer discretionary and information technology stocks, off less than 0.1% each. \n\nThe TSX Venture Exchange gained 6.73 points to 1,457.38, while the Nasdaq Canada index advanced 2.14 points to 733.47. \n\nON WALLSTREET\n\nIn New York, stocks were poised for a moderate open on Thursday, a half day of Christmas Eve trading to close out a holiday-shortened week, showing little reaction to Senate votes and economic reports.\n\nThe Dow Jones Industrials was up slightly, by 17.46 points to 10,483.90, while the broader S&P 500 was up 3.18 points to 1,123.77, while the tech-heavy Nasdaq gained 7.45 points to 2,277.09. \n\nStock futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.\n...