Business
Downward Tuesday for TSX
Downward Tuesday for TSX
About this update from Red Lake Gold Inc
[{"type":"text","content":"\nDownward Tuesday for TSX\n\nIndustrials, materials weigh down T.O.\n Nov. 24, 2009 (Baystreet.ca) -- Bay Street stocks took a small tumble on Tuesday amid weakness in the industrial and metal-related sectors.\n\nThe S&P/TSX Composite Index fell 84.39 points to 11,539.63. \n\nIndustrials were down, as Bombardier dropped 3% to $4.81, Russel Metals declined 1.8% to $16.37 and Canadian National Railway was down 1.6% to $56.57\n\nMaterials and gold stocks dropped, as Royal Gold declined 1.7% to $56.80, Goldcorp lost 1.9% to $45.96 and Iamgold was off 1.7% to $20.29\n\nMining stocks were also down, with HudBay losing 5.1% to $14.39, Inmet sliding 2.6% to $65.95 and Teck Resources letting go of 2.5% to $36.43. \n\nIn corporate news, Bank of Montreal dropped 0.5% to $53.29 after surrendering earlier gains. The company reported fourth-quarter net income of $647 million or $1.11 per share, compared to $560 million or $1.06 per share in the year-ago quarter.\n\nThe company also has agreed to purchase the Diners Club North America card business from Citigroup. \n\nMKS Inc. added 5% to $9.25 after the company said its second-quarter net income grew 19% to $1.61 million U.S. or $0.16 U.S. per share from $1.35 million U.S. or $0.13 U.S. per share in the previous year.\n\nRogers Communications jettisoned 0.4% to $31.97 after a British Columbia judge ruled the company can no longer claim having Canada's most reliable wireless network. \n\nWestern Coal dropped 1.5% to $2.71 as the company and some of its executives have been hit with a $220-million lawsuit regarding securities laws.\n\nThe Canadian dollar slid 0.20 cents to 94.46 cents U.S. \n\nON BAYSTREET \n\nAll but two of the 14 TSX subgroups were lower. Industrials weighed things down the most, losing 1.6%, metals and mining lost 1.5%, while materials were off 1.4%. \n\nThe two winning groups were information technology, which advanced 0.2%, and health-care stocks, gaining 0.1%. \n\nThe TSX Venture Exchange gave back 4.22 points to 1,412.41, while the Nasdaq Canada fell 4.78 points to 655.67 \n\nON WALLSTREET\n\nIn New York, equities ended a volatile session with modest losses Tuesday, as the Fed's improved outlook and some signs of improvement in housing tempered a weaker revision on economic growth released in the morning.\n\nThe Dow Jones Industrials ended the day down 17.24 points at 1...