Business
TSX off to tentative start
TSX off to tentative start
About this update from Suncor Energy Inc.
[{"type":"text","content":"\nTSX off to tentative start\n\nMetals, energy stocks ahead\n Feb. 22, 2010 (Baystreet.ca) -- Canadian stocks will look to extend an eight-day bull run on Monday and early signals are somewhat positive, as gains among resource stocks may pace Bay Street once again.\n\nIn the first half-hour of trading, however, the S&P/TSX composite index was down 11.73 points, to 11,697.56.\n\nMonday is expected to be a quiet day on the corporate front, with few Canadian companies turning in earnings results.\n\nMeanwhile, news of a merger between major U.S. oil service rivals Schlumberger and Smith could generate interest in their Canadian counterparts.\n\nSuncor Energy Inc. announced the completion of its assessment and expected schedule to repair portions of an oil sands upgrader damaged by fire in early February. Repairs are currently underway and the company currently expects the upgrader to return to production in early April.\n\nBoralex Power Income Fund ended its fiscal year 2009 with revenue from energy sales of $102.2 million and earnings of $51.7 million, down $7.1 million and $6.0 million respectively compared to fiscal 2008. \n\nThe company said the decrease stems mainly from the shortfall caused by the shutdown of power and steam production at the Dolbeau power station.\n\nFlight training specialist CAE Inc. said it is launching a family of new helicopter mission simulators. The company stated that the first CAE 3000 Series simulator would be available for training by the summer of 2010. \n\nCAE is demonstrating a fixed-based version of the new CAE 3000 Series at Heli-Expo.\n\nThe Canadian dollar slid 0.05 cents to 96.20 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, 10 were in positive country to begin the week. Metals and mining stocks surged 1%, followed by energy stocks, up 0.6%, and telecoms, ahead 0.5%. \n\nInformation technology vied with gold stocks for worst off among the four laggards, off 0.2% each, while global base metals stumbled 0.1%. \n\nThe TSX Venture Exchange gained 5.43 points to 1,537.33, while the Nasdaq Canada index lost 4.66 points to 751.60.\n\nON WALLSTREET\nIn New York, stocks were set to keep rolling higher Monday, fueled by a merger agreement between oil services companies Schlumberger and Smith International.\n\nThe Dow Jones industrial average backpedaled 8.69 points in the early going, to ...