Business
Strong Monday for TSX
Strong Monday for TSX
About this update from Transalta Corporation
[{"type":"text","content":"\nStrong Monday for TSX\n\nAll Toronto sectors gain ground\n Jan. 11, 2010 (Baystreet.ca) -- Toronto stocks opened higher on Monday, holding on to their previous session's gains on higher oil and commodity prices. \n\nIn the early moments of trading for the week, the S&P/TSX Composite Index rocketed up 88.42 points to 12,042.25. \n\nCanadian stocks have posted gains in five of the last six sessions, gaining over 2% to hit a new 15-month high. The Index closed Friday at 11,953.83, gaining 66.32 points or 0.56%.\n\nEnergy stocks may be in play today after the price of oil moved past the $83-U.S. mark on Monday on an encouraging trade report from China, the second largest user of this energy product. Gold edged up in price.\n\nIn corporate news, C.A Bancorp advised shareholders not to tender to Maxam Acquisiton Corp's $1.22-per-share offer, before its board explore all available alternatives.\n\nPetro-Canada, a unit of Suncor Energy and partners discovered an estimated 7 to 40 million cubic meters of oil near the Snorre field in the North Sea.\n\nSouthGopi Energy may raise as much as $459 million in a Hong Kong share sale.\n\nTalisman Energy Inc. announced its capital spending plans of $5.2 billion for 2010, up 10% over 2009.\n\nTransAlta Corp. announced winning a 25-year power purchase agreement from New Brunswick Power.\n\nFertilizer maker Agrium said it would move into Western Canada with 33 more outlets. \n\nBringing an end to the takeover tussle, Brazil based Minera Penmont, said it will not take any further action regarding its proposal to acquire the outstanding common shares of Canplats Resources and has advised the Canplats board accordingly. \n\nSince last month, Goldcorp. and Penmont have been competing to acquire Canplats.\n\nIn brokerage updates, RBC upped Niko Resources price target by 20% to $120 from $100. UBS hikes Precision Drilling Trust price target to $10.50 from $10.00.\n\nIn economic news, Canada Mortgage and Housing Corporation said country's housing starts edged up in December. The seasonally adjusted annual rate of housing starts reached 174,500 units from 164,800 units in November. \n\nOn the other hand, Statistics Canada said overall Canadian building permits fell sharply by 4.6% in November.\n\nThe Canadian dollar gave back 0.26 cents to 96.93 cents U.S. \n\nON BAYSTREET \n\nAll 14 TSX subgroups were po...