Business
TSX remains in red
TSX remains in red
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX remains in red\n\nUtilities weigh heaviest\n\n Apr. 28, 2010 (Baystreet.ca) -- Canadian stocks were extending their losses for a second session in mid-morning deals Wednesday, amid lingering worries over the euro-zone sovereign debt crisis.The S&P/TSX Composite Index fell 58.39 points by noon to 12,088.35Traders were also digesting a mixed bag of earnings from big names, including Barrick Gold and Husky Energy.Among energy plays, Baytex Energy shed 2.31% and Niko Resources surrendered 2.04%.Integrated energy company Husky Energy lost 2.57% even after reporting improved first quarter net earnings of $0.41 per share, compared to $0.39 per share in the same period of 2009. The company declared a quarterly dividend of $0.30 per share.In the financial space, Canadian Western Bank dipped 2.28%. TD Bank and RBC lost nearly 1% each.Among information technology stocks, blackberry maker Research In Motion shed 0.85% and Celestica wad down 2.11%.Information technology services provider CGI Group said its second-quarter net earnings increased to $0.28 per share from $0.25 per share in the prior year period. Analysts were expecting the company to report earnings of $0.27 per share for the quarter. The stock was down 1.27%.Communication and media company Rogers Communications slipped 1.40% even after reporting first-quarter net income of $0.64 per share, up from $0.49 per share reported last year.Among gold stocks, Barrick Gold gained 2.12% after reporting adjusted first quarter net income of $0.75 per basic share, versus $0.34 per basic share in the last year quarter. Analysts were expecting the company to report earnings of $0.63 per share for the quarter.Gold miner Goldcorp rose 0.82%.Canadian stock market operator TMX Group added 1.23% after reporting higher first-quarter net income of $0.66 per share, up from $0.58 per share in the year-ago quarter. It has also declared a dividend of $0.38 on each common share outstanding.Railways operator Canadian Pacific Railway gathered 3.20% after it said its first-quarter net income grew to $0.59 per share from $0.36 per share in the prior-year period.The Canadian dollar regained 0.39 cents to 98.75 cents U.S. ON BAYSTREETOf the 14 TSX subgroups, all but four were in the red. Utilities weighed most heavily on the markets, falling 1.3%, while telecoms were down 1.1% and real-estate settled 1%.T...