Business
TSX up, slightly
TSX up, slightly
About this update from Touchstone Exploration Inc
[{"type":"text","content":"\nTSX up, slightly\n\nHealth-care stocks best in T.O.\n Mar. 17, 2010 (Baystreet.ca) -- The U.S. Federal Reserve's reassurance that interest rates will stay low for a good while yet pushed the Toronto stock market higher for a second day.\n\nThe S&P/TSX composite index had advanced 11.26 to end the day at 12,100.66. \n\nThe rise added to an 81-point runup on Tuesday after the U.S. Federal Reserve kept a key lending rate at a historically low level of zero to 0.25%. The central bank added that it will keep rates unchanged "for an extended period."\n\nBut investors were also encouraged by comments that the U.S. economy is showing signs of improvement.\n\nThe base metals sector was up as May copper rose six cents to $3.42 U.S. a pound. Teck Resources improved 48 cents to $41.97 while HudBay Minerals climbed seven cents to $13.67.\n\nThe telecom sector was also up, with Rogers Communications up 46 cents to $35.70.\n\nTelus Corp. announced it will put $650 million into further operating and capital investments for Alberta's wireless market and its shares inched up 23 cents to $35.93.\n\nThe energy sector gained ground, as Suncor Energy gained 76 cents to $32.12 but Encana Corp. fell 89 cents to $32.70.\n\nMeanwhile, leaders of the 12-nation Organization of Petroleum Exporting Countries, meeting in Vienna on Wednesday, have agreed to leave production quotas unchanged.\n\nThe TSX global gold index was slightly higher Barrick Gold Corp. has suspended activities at its Bulyanhulu mine in Tanzania after three workers were killed in a cave-in. Its shares rose six cents to $40.90.\n\nIn earnings news, Ivanhoe Energy Inc. reported an $11.9-million net loss for the latest quarter, an improvement from the $14-million loss from a year ago. Oil revenue declined to $5.3 million on a lower benchmark crude oil price and its shares declined 10 cents to $3.65.\n\nPetrobank Energy and Resources Ltd. shares were up $2.06 to $57.15 as it said Tuesday that despite stellar fourth quarter earnings, profits dropped 40 per cent in 2009 mainly due to lower oil and natural gas prices. Net earnings for the year dropped to $145 million. Fourth-quarter net earnings doubled to $57.1 million compared to year-earlier profits of $28.1 million.\n\nJinshan Gold Mines Inc. shares declined 20 cents to $4.24 after it said it has restated three quarters of financ...