Business
TSX builds on gains
TSX builds on gains
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX builds on gains\n\nMetals, and gold shine brightest\n Feb. 9, 2010 (Baystreet.ca) -- Canadian stocks stormed out to early gains and remain firmly positive in mid-morning deals Tuesday amid widespread buying.\n\nThe S&P/TSX Composite Index zoomed ahead 154.89 points, or 1.4%, by lunchtime to 11,270.19. \n\nMarginal strength in commodity prices and speculation that Greece will get European help to tackle its budget deficit helped lift investor sentiment. Moreover, value buying at lower levels after the main index gave in nearly 3% in the past four sessions also aided upsurges.\n\nBase metal stocks continued to be in the limelight, with Inmet Mining jumped 5.43% after announcing that it has swung to profit in fourth quarter. First Quantum Minerals gathered nearly 6%. \n\nNatural resources explorer Teck Resources gained 4.67%. The company swung to profit in the fourth quarter by reporting net earnings of $0.70 per share, compared to a loss of $1.28 per share in the same period last year.\n\nThe Gold Index was up, as Anglo Gold gained 3.58% and Rand Gold rose 3.91%.\n\nAmong financials stocks, Bank of Nova Scotia edged up 0.99% and National Bank of Canada added 0.90%. \n\nFertilizer maker Agrium moved up 4.61% even after reporting that its fourth-quarter net income decreased to $0.19 per share from $0.79 per share last year. \n\nNatural gas distributor Pacific Northern Gas added 1.40% after announcing fourth quarter net income of $0.93 per share, compared to $0.84 in the previous-year quarter. The company also increased first quarter 2010 dividend on common shares by 12% to $0.28 per share. \n\nHusky Energy edged up 0.11% after it said it has discovered huge gas resources off China's coast and mulls spinoff its Asian operations. \n\nCoal miner Western Coal Corp. rallied 9.21% even after announcing that its third-quarter net income dipped to $0.09 per share from $0.29 per share in the prior-year period. \n\nBombardier Inc was up 1.12%. Reportedly, the company plans to sell as much as $1 billion of U.S. dollar denominated senior notes mainly to refinance debt maturing in the next two to four years. \n\nWestJet Airlines gained 1.71% after Royal Bank of Canada initiated coverage of the stock with an "outperform" rating.\n\nOn the other hand, Automation Tooling Systems slipped 1.79% after it said its third-quarter consolid...