Business
TSX remains in green
TSX remains in green
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX remains in green\n\nFinancials hold hot hand in T.O.\n Feb. 17, 2010 (Baystreet.ca) -- Canadian stocks moved higher for a sixth session in mid-morning deals Wednesday, with gauges of most sectors hovering in the green.\n\nThe S&P/TSX Composite Index remained upward by 47.41 points to 11,633.78\n\nEncouraging domestic wholesales numbers, U.S. housing starts and industrial production data all helped lift sentiment. Moreover, firm commodity prices also fueled buying interest in commodity stocks.\n\nThe Energy Index rose, with Encana Corp adding 1.90%. Canadian Oil Sands was up 1.43%. \n\nPetrominerales gained 2.76% to $27.16 after Macquarie hiked its price target to $27 from C$22. \n\nAmong financial plays, Canadian Imperial Bank of Commerce gained 2.10%. \n\nSun Life Financial snapped its three-day losing streak, adding 1.92%. Manulife Financial Corp. moved up for a second day, gaining 1.52%.\n\nThe Gold Index was up Rand Gold moved up 0.84%.\n\nNew Gold added 1.60% after announcing the purchase of 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\nMeanwhile, Iamgold Corp slipped 0.69% after reporting fourth-quarter net loss of $0.13 per share, compared to net loss of $0.33 per share last year.\n\nFood distributor Loblaw Companies edged up 0.65% after reporting fourth-quarter net earnings of $0.60 per share, down from $0.70 per share last year.\n\nInternet services provider Tucows Inc. rallied 7.14%. The company 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\nWestJet Airlines rose 1.73% despite reporting lower fourth-quarter net earnings of $0.14 per share, compared to $0.33 per share last year.\n\nCommunications services provider Rogers Communications shed 2.06% even after reporting fourth-quarter net income of $0.51 per share, compared to net loss of $0.22 per share in the year-ago period.\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 ...