Business
Stocks continue February march
Stocks continue February march
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nStocks continue February march\n\nFinancials, health-care lead way\n Feb. 17, 2010 (Baystreet.ca) -- The Toronto stock market closed higher, thanks in part to a pair of positive U.S. economic reports.\n\nThe S&P/TSX composite index gained 49.12 points to 11,635.49, with financials leading advancers.\n\nThe telecom sector was the leading decliner amid investor disappointment with a solid earnings report from Rogers Communications. Some analysts blamed a conservative outlook for the reason the telecom giant's stock fell 4.58%\n\nTMX Group Inc. was up 2.60%, Sun Life Financial Inc. gained 2.98% and Bank of Montreal rose 1.67%. \n\nIntact Financial Corp. ended higher 3.35%, after the insurer reported Wednesday a turnaround to profit in the fourth quarter. \n\nThe Gold Index eased with Kirkland Lake Gold Inc. down 4.03 % and Agnico-Eagle Mines down 1.12%, while Barrick Gold Corp. and Goldcorp Inc. rose 1.59% and 0.80% respectively.\n\nIn economic news, Statistics Canada said country's wholesales trade in current dollars increased by 0.7% to $42.80 billion in December, in line with forecasts. The machinery and electronic equipment sector contributed the most to the growth in December. Sales in this sector climbed 1.2% to $8.8 billion.\n\nThe Canadian dollar was off 0.15 of a cent to 95.68 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, nine were in the green on the day. Financials led the way, gaining 1.2%, followed by a 0.8% surge from health-care issues, while real-estate stocks were 0.9% to the good. \n\nThe five laggards were weighed by telecoms, off 1.1%, information technology, skidding 0.7% and metals and mining, down 0.5%. \n\nThe TSX Venture Exchange slid 1.42 points to 1,518.72, while the Nasdaq Canada index eked out a gain of 0.34 points to 750.52.\n\nON WALLSTREET\n\nIn New York, stocks gained Wednesday as investors considered a better-than-expected housing report, a mixed forecast from the Federal Reserve and some upbeat company news.\n\nThe Dow Jones industrial average advanced a respectable 40.43 points to close at 10,309.24. The S&P 500 index gained 4.64 points to 1,099.51, and the Nasdaq composite moved ahead 12.10 points to 2,226.29.\n\nStocks clung to modest gains throughout the session Wednesday as investors weighed the day's news against the headwinds that have punished stocks year-to-date.\n\nAfter the...