Business
Stocks dip early
Stocks dip early
About this update from Red Lake Gold Inc
[{"type":"text","content":"\nStocks dip early\n\nGold main culprit\n Oct. 15, 2009 (Baystreet.ca) -- Bay Street stocks are slightly lower on Thursday morning, surrendering some of yesterday's notable gains. Weakness in the gold sector has dragged the market lower.\n\nIn the first half-hour of trading the S&P TSX Composite index was down 31.38 points to 11,501.40.\n\nGold has dropped as Royal Gold has declined 1.7%, Agnico-Eagle Mines is down 1.3% and Eldorado has lost 1.2%. \n\nIn corporate news, Capital Gold Corp. said its full-year net income rose to $10.40 million or $0.05 per share from $6.36 million or $0.03 per share in the prior year period.\n\nResearch In Motion, along with Vodafone, launched BlackBerry Storm2, the second generation of RIM's touch-screen smartphone, in seven European countries as well as South Africa. RIM stock is down 0.7%.\n\nVasogen reported third-quarter net loss of $1.2 million or $0.05 per share, compared to a net loss of $2.6 million or $0.12 per share last year.\n\nOn the economic front, Canadian manufacturing shipments fell 2.1% in August. A decline of 1.6% was forecast for August, compared to a revised increase of 5.2% in July.\n \nThe Canadian dollar dipped 0.26 cents to 97.22 cents U.S. \n\nON BAYSTREET \n\nAll but two of the 14 TSX subgroups started the day lower. Gold sputtered 1.1%, while financials and materials lost 0.5% each. \n\nThe two gainers were health-care stocks, ahead only 0.1% and energy stocks, eking out a 0.04% gain. \n\nThe TSX Venture Exchange slipped 9.82 points to 1,326.88, while the Nasdaq Canada index lost 5.84 points to 730.17. \n\nON WALLSTREET\n\nIn New York, stocks slipped Thursday, one day after the Dow closed above 10,000, as investors mulled better-than-expected results from Goldman Sachs and Citigroup and opted to retreat.\n\nThe Dow Jones Industrials skidded 9.90 points to 10,005.96, after finishing the previous session at around 10,015, its highest point in more than a year. The S&P 500 index dropped 2.30 points to 1,089.72. The Nasdaq composite index gave back 5.25 points to 2,166.98.\n\nEconomic reports were also on investors' minds, as the government announced a key inflationary gauge showed slight signs of pressure. A separate report showed the number of people filing for first-time unemployment fell in the latest week, but slightly less than forecast.\n\nWall Street rallied Wednesd...