Business
TSX posts solid gains
TSX posts solid gains
About this update from Transalta Corporation
[{"type":"text","content":"\nTSX posts solid gains\n\nDubai, Citigroup in focus\n Dec. 14, 2009 (Baystreet.ca) -- Bay Street stocks are seeing some strength on Monday as global markets have received a boost from Abu Dubai's $10-billion U.S. bailout offer to Dubai.\n\nBy noon, the S&P/TSX Composite had moved 107.62 points higher to 11,531.55 \n\nUtilities have gained ground, as Canadian Utilities has added 3.8%, TransAlta is up 1.4% and Fortis has gained 1.3%. \n\nEnergy stocks are up as EnCana has rallied 5.3%, Canadian Natural Resources is up 2.1% and Suncor has gained 1.6%. \n\nHusky Energy has added 1.1% after the company announced its $3.1 billion capital expenditure program and production guidance for 2010. \n\nMining stocks have gained, as Inmet is up 3.6%, Teck Resources added 1.9% and First Quantum gained 1.1%.\n\nKirkland Lake Gold has added 1.9% after the company reported a net loss was $10.33 million compared with a loss of $4.79 million last year. On a per-share basis, loss widened to $0.17 from $0.09 a year ago.\n\nGendis has dropped 1.5% after the company reported third-quarter net income of $555,000 or $0.04 per share compared to a net loss from operations of $5.86 million or $0.41 per share last year. \n\nPetaquilla Minerals announced that it has closed non-brokered private placement of 24 million common shares at $0.50 per Share, raising gross proceeds of $12 million. The stock is down 3.1%.\n\nMeanwhile, a report from RBC Economics predicted the Canadian economy will see a rebound in 2010. Real gross domestic product is expected to rise 2.6% next year and by 3.9% in 2011, according to RBC.\n\nElsewhere in economic news, Statistics Canada reported Canadian industries operated at 67.5% of their production capacity in the third quarter. This was down marginally from 67.7% in the second quarter.\n\nThe Canadian dollar was down 0.02 cents to 94.36 cents U.S. \n\nON BAYSTREET \n\nAll but three of the 14 TSX subgroups were higher. Metals and mining stocks led the charge, up 2.4%, followed by global base metals, ahead 2.1% and energy stocks, 1.9% stronger. \n\nThe three trailing groups were telecoms, off 0.6%, health-care stocks, down 0.3% and information technology, off 0.04%. \n\nThe TSX Venture Exchange picked up 1.46 points to 1,418.57, while the Nasdaq Canada index was up 2.60 points to 696.63\n\nON WALLSTREET\n\nIn New York, equities gaine...