Business
Stronger start for stocks
Stronger start for stocks
About this update from Vaxil Bio Ltd.
[{"type":"text","content":"\nStronger start for stocks\n\nAll TSX groups gain\n Mar. 25, 2010 (Baystreet.ca) -- Canadian stocks opened higher Thursday on a marginal recovery in commodities prices and amid the EU summit.\n\nThe S&P/TSX Composite Index opened the day higher by 71.14 points to 12,034.11. \n\nTraders will look to get some positive signals on Greece debt issue at the end of the two-day summit. Also encouraging jobs data from across the border will likely to help lift sentiment.\n\nHowever, yesterday's comment by the Bank of Canada's Governor Mark Carney that raised speculation for a sooner-than-expected rate hike could cap any big upside in the stock prices. \n\nEarlier in the day the euro strengthened, giving boost to commodities prices. The euro ticked higher versus the U.S. dollar for the first time in three days after the European Central Bank President announced that the bank will extend its emergency collateral rules beyond this year.\n\nAlso the Dubai government announced $9.5 billion aid to the troubled Dubai World as part of its restructuring plans.\n\nIn corporate news, Athletic apparel maker lululemon athletica reported huge growth in its fourth-quarter revenues at $0.40 per share compared to $0.16 per share in the year-ago quarter. Analysts were expecting the company to report $0.29 per share for the quarter. \n\nOil and gas explorer West Energy reported a wider net loss for the fourth quarter at $0.03 per share, compared to a loss of $0.03 per share in the year-ago quarter. \n\nOil explorer Crocotta Energy swung to profit in the fourth quarter, reporting net earnings of $0.05 per share, compared to net loss of $0.07 per share last year.\n\nOil and gas explorer Emerge Oil & Gas posted fourth-quarter net loss of $4.2 million or $0.08 per share.\n\nOil and gas industry technology solutions provider Kelman Technologies reported a net loss of $14.26 per share for 2009, compared to breakeven in the prior year. \n\nPrecious metal explorer Shore Gold reported a narrower full-year net loss of $0.04 per share, compared to a loss of $2.48 per share a year earlier.\n\nIndependent power producer Maxim Power reported a lower fourth quarter net income of $0.01 per share, compared to $0.15 per share last year.\n\nRenewable energy producer Plutonic Power reported a narrower net loss for the fourth quarter of $0.05 per share, compared to a net loss...