Business
TSX holds its own
TSX holds its own
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX holds its own\n\nMetals, tech stocks rally\n Feb. 24, 2010 (Baystreet.ca) -- The Toronto stock market turned was treading water Wednesday as investors balanced a reassurance from U.S. Federal Reserve chief Ben Bernanke that interest rates will stay low with poor housing data from the United States.\n\nThe S&P/TSX composite index reached noon ahead 29.99 points to 11,556.70\n\nCenterra Gold Inc. said Tuesday it earned $140 million U.S. in its latest quarter as the miner increased production and a higher price for gold. The Toronto-based company, which keeps its books in U.S. dollars, said the profit amounted to 60 cents per share on $323.9 million in revenue for the quarter. Its shares rose 12 cents to $11.91.\n\nThe base metals sector was flat with March copper in New York up two cents at $3.23 U.S. a pound.\n\nSherritt International Corp. shares climbed 17 cents to $6.90 as the miner reported a $48.3-million profit for the fourth-quarter -- a big contrast to the $592.1-million loss reported a year earlier. \n\nRevenue for the Toronto-headquartered metal, coal and oil producer was little-changed at just under $380 million.\n\nThe consumer staples sector was positive after the leading supplier of store-brand carbonated beverages, Cott Corp., reported quarterly net income of $14 million U.S., a turnaround from the $12.1 million U.S. loss a year earlier. Revenue improved by 3.9% to $386 million U.S. and its shares were ahead 13 cents to $8.08.\n\nMarket heavyweight Research In Motion Ltd. was also supportive, up $1.19 to $73.39.\n\nIn other earnings news, Thomson Reuters Inc. announced Wednesday that it is raising its annual dividend by four cents to $1.16 a share. The information services company says that net income fell to $182 million U.S. or 21 cents a share in the fourth quarter, down from $566 million or 67 cents a share a year earlier. \n\nOverall revenue fell slightly to $3.36 billion U.S. from $3.4 billion U.S. and its shares declined 84 cents to $36.22.\n\nShares in heavy equipment dealer Finning International Inc. slipped 55 cents to $17.50 after the company said Tuesday it earned $16.3 million in its latest quarter, even as revenue fell 28% compared with a year ago. The Vancouver-based company said it was seeing signs of recovery led by mining. It added its backlog has posted the first increase since 2008.\n\nMap...