Business
TSX steps slightly ahead
TSX steps slightly ahead
About this update from Transalta Corporation
[{"type":"text","content":"\nTSX steps slightly ahead\n\nMaterials lead way\n Jan. 18, 2010 (Baystreet.ca) -- Canadian stocks opened slightly positive on Monday as commodity prices edged up. Traders may resort to bottom fishing at lower levels as the Canadian market has slipped to a 2-week low on Friday, erasing all the gains it had made so far in 2010.\n\nThe S&P/TSX Composite Index gained 31.59 points in the first half-hour of trading to 11,716.96\n\nHowever, upside may be capped on anxiety over forthcoming earnings announcements by major Canadian companies, including Potash Corp and Canadian National Railways, due in the coming weeks.\n \nAnalysts see a downward pressure on oil as corporate earnings results so far have not really indicated much revenue growth, which points to continued weakness in the U.S. economy. Rising loan losses at JPMorgan Chase & Co. sparked concerns about profits at other big banks. \n\nBank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo & Co. are scheduled to report their earnings this week.\n\nIn corporate news, gold miner Lihir Gold announced that its Chief Executive Arthur Hood has resigned on Sunday. \n\nCanadian Satellite Radio said it first quarter adjusted operating loss narrowed to $1.0 million from $2.90 million a year ago, while reporting a 19% growth in its subscriber base.\n\nPetroleum and natural gas developer Penn West Energy Trust said Friday that it has closed the previously announced asset swap. Penn West exchanged certain interests in the Leitchville area of Saskatchewan for interests complimenting Penn West's light oil resource plays at Pembina and at Dodsland. \n\nIn addition, Penn West received cash consideration of $434 million, prior to closing adjustments. \n\nMineral properties developer Fortuna Silver Mines announced that its common shares will be listed and begin trading on the Toronto Stock Exchange at the opening of trading on January 18, under current symbol, FVI. \n\nFuel cell product maker Ballard Power Systems said it has acquired a controlling interest in Denmark-based Dantherm Power, partnering with co-investors Danfoss A/S and Dantherm A/S. Ballard is investing $6 million for a controlling interest in Dantherm Power. \n\nConstruction engineering services provider Pure Technologies said it plans to offer shares by February.\n\nEngineering technology provider ProSep Inc. ...