Business
TSX falls at open
TSX falls at open
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX falls at open\n\nBank stocks lead U.S. declines\n Jan. 15, 2010 (Baystreet.ca) -- Resource heavy Bay Street may struggle to move up on Friday, as falling commodity prices could dampen sentiment. The Canadian market was unable to sustain any direction so far in this year, pulling back after hitting a 15-month high above 12,000 on Monday.\n\nThe S&P/TSX Composite Index plummeted 85.54 points at the outset to 11,718.84\n\nEnergy and gold stocks may reel under pressure as the prices of commodities continued to display the weak trend of the past few days. \n\nThe price of crude oil was lingering around $79 U.S. a barrel, after hitting a 15-month high on Monday. Meanwhile, the price of bullion eased $9.8 to $1,132.80 U.S. an ounce.\n\nIn corporate news, Agrium will reportedly intensify its efforts to acquire CF Industries Holdings, now that CF has dropped its own bid for rival Terra.\n\nGold miner Kinross Gold Corp. said that its 2009 full-year production is expected to be about 2.23 million gold equivalent ounces, an increase of around 21% over 2008 production. Looking ahead for 2010, the company expects full year production to be approximately 2.2 million gold equivalent ounces.\n\nPinetree Capital Ltd. said it upped its stake in Silver Spruce Resources Inc to 15.6% by acquiring four million common shares and four million common share purchase warrants.\n\nFirst Capital Realty Inc. announced that the size of the public offering of Series H senior unsecured debentures has been increased by $25 million, to $125 million. \n\nPure Energy Services Ltd. announced that its Board of Directors has approved an initial capital expenditure budget for 2010 of about $6 million.\n\nPacific Rim Mining announced that it has closed its $2.355 million private placement financing.\n\nIvanhoe Mines denied a Dow Jones news service report that it chairman is selling his stake in the company.\n\nOil and gas producer Anderson Energy plans to sell at least 19.2 million shares at $1.45 a share to part finance its debt repayment and expansion.\n\nIn a similar move, Extendicare Real Estate Investment Trust said it will sell eight million units at $9.35.\n\nHealthcare provider DiagnoCure Inc. reported that its fourth-quarter net loss narrowed to $0.07 per share from $0.09 per share last year. \n\nTechnology and engineering service provider Rutter Inc. repo...