Business
New winning streak?
New winning streak?
About this update from Teck Resources Limited Class A
[{"type":"text","content":"\nNew winning streak?\n\nData lifts markets\n Mar. 25, 2009 (Baystreet.ca) -- 12:40 pm EST\nStock markets moved higher this morning as surprisingly positive American economic data persuaded traders to extend the March rally well into a third week.The S&P/TSX Composite Index resumed its upward mobility, picking up 101.71 by noon to 8,951.10The TSX energy sector was flat, as the latest U.S. inventory figures showed crude supplies rose by 3.3 million barrels last week, about twice the amount expected. EnCana Corp. gave back 71 cents to $53.79.The financial sector pulled ahead as TD Bank rose $1.26 to $44.99 and Royal Bank gained 54 cents to $37.64.AGF Management Ltd. was ahead 19 cents to $8.48 after its first-quarter profit fell by 80% from a year earlier to $12.2 million.The TSX base-metals sector moved ahead. Teck Cominco Ltd. added 60 cents to $7.38 and HudBay Minerals improved 21 cents to $6.21.The Toronto gold sector was ahead, as Barrick Gold Corp. was up 78 cents to $40.30.In corporate news, U.S. Sen. Charles Schumer says Magna International owner of upstate New York autoparts maker New Process Gear, has agreed to discuss a last-minute aid package that could keep the plant from closing. Magna shares rose $1.88 to $35.89.CGI Group Inc. shares were up three cents to $9.78 after the company got a 10-year, $182-million contract to manage information technology infrastructure for the Foresters life insurance organization.A Hong Kong-based company controlled by China National Nuclear Corp. is offering $31 million cash in a friendly takeover offer of Western Prospector Group Ltd. Western shares soared 17 cents or 46% to 54 cents.The Canadian dollar surged 0.37 to 81.59 cents U.S. ON BAYSTREET Of the 13 TSX subgroups, gainers dwarfed losers 11 to two. Metals and mining was the clear leader, advancing 4.2%, followed by real-estate, up 2.2% and gold, up 2%. The two laggards were utilities, sliding 0.9% and health-care stocks, off 0.5%. The TSX Venture Exchange had gained 9.56 points by noon to 933.85, while the Nasdaq Canada Index slid 5.57 to 452.42ON WALLSTREETThe Dow Jones Industrials average careered 186.69 points to 7,846.66. The S&P 500 index gained 18.37 points to 824.49, while the Nasdaq gained 30.40 points to 1,546.92In a primetime news conference Tuesday, U.S. President Obama said there would be no "quick fixes...