Business
TSX on the march
TSX on the march
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX on the march\n\nMetals, staples lead charge\n Feb. 17, 2010 (Baystreet.ca) -- Canadian stocks appeared to hold on to their recent gains early Wednesday morning on firm commodities prices. \n\nThe S&P/TSX Composite Index improved 87.41 points to 11,673.78\n\nEncouraging domestic wholesales numbers and housing starts data from across the border may also help lift sentiment. However, any upside may be capped on profit taking after the main index moved higher for the past five sessions, adding over 4%.\n\nIn corporate news, New Gold said it purchased 70% interest in El Morro SCM and associated rights and assets from a subsidiary of Xstrata Plc for a total cash consideration of $463 million. \n\nIamgold Corp reported fourth-quarter net loss of $0.13 per share, compared to net loss of $0.33 per share last year.\n\nInternet services provider Tucows Inc. reported net earnings of $0.17 per share for 2009, up from $0.03 per share in 2008 and announced that it will repurchase up to $10 million of its common stock.\n\nSoftware solutions provider Intrinsyc Software International appointed Randy Moore as Vice President, Engineering Operations. \n\nCommunications services provider Rogers Communications Inc. reported fourth-quarter net income of $0.51 per share, compared to net loss of $0.22 per share in the year-ago period.\n\nCountry's largest food distributor Loblaw Companies said its fourth-quarter net earnings were $0.60 per share, down from $0.70 per share last year.\n\nIn brokerage updates, Thomas Weisel initiated coverage of Chariot Resources with an "overweight" rating. \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 nipped ahead 0.02 cents to 95.80 cents U.S. \n\nON BAYSTREET \n\nAll but two of the 14 TSX subgroups were up to begin Wednesday. Metals and mining stocks surged 1.1%, followed by global base metals and consumer staples, up 1% each. \n\nThe two laggards were telecoms, down 0.7%, and information technology, off 0.4%. \n\nThe TSX Venture Exchange picked up 6.66 points to 1,526.80, while the Nasdaq Canada index skidded 5.40 points t...