Business
TSX inches higher
TSX inches higher
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\nTSX inches higher\n\nMaterials draw index up\n Jan. 5, 2010 (Baystreet.ca) -- Canadian stocks have remained slightly in positive territory on Tuesday, led by strength in the mining and materials sectors.\n\nThe S&P/TSX Composite Index added 21.18 points to 11,888.08. \n\nMining stocks are up, as First Quantum has gained 1.3% at $83.25 and Teck Resources is up 2.5% at $40. \n\nMaterials stocks have gained, as Potash added 5.4% to $123 after being upgraded to "outperform" from "neutral" at Credit Suisse. Rival Agrium was up 3.1% to $67.55.\n\nThe Utility Index has dropped, as Canadian Utilities has declined 1.9% to $42.66 and Emera dropped 1.6% at $24.60. \n\nIn other corporate news, Research in Motion slipped 0.7% to $68.27 amid choppy trading. Morgan Stanley initiated coverage of the stock with an "overweight" rating. \n\nMeanwhile, Wesdome Gold Mines announced that its Board has appointed Donovan Pollitt, Vice President, Corporate Development, as President and Chief Executive Officer. The stock was down 0.8% at $2.38. \n\nRevett Minerals slipped a penny to 34 cents after the company announced that Silver Wheaton Corp. has subscribed for additional shares in the company to bring its shareholdings back to 16.6% of issued and outstanding shares of Revett. \n\nTrinidad Drilling has gained 7.6% to $7.75 after announcing it will resume the construction of six new drilling rigs.\n\nReitmans slipped 0.4% to $15.69 despite reporting that its December sales for the five weeks ended January 2, 2010 increased 4.2%. Same store sales increased 3.1%.\n\nThe Canadian dollar tailed off 0.06 cents to 96.20 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, eight were higher to end the day. Materials led the charge, up 1.8%, followed by metals and mining, ahead 1.5%, and global base metals, advancing 1.2%. \n\nThe half-dozen laggards were weighed mostly by information technology, off 1%, telecoms, down 0.8%, and utilities, sliding 0.7%. \n\nThe TSX Venture Exchange advanced 7.39 points to 1,551.32, while the Nasdaq Canada index moved forward 3.64 points to 729.20. \n\nON WALLSTREET\n\nIn New York, stocks struggled Tuesday as investors weighed a seesawing dollar, a slew of auto sales and reports on pending home sale and factory orders.\n\nThe Dow Jones Industrials Index was off its lows of the day, but still f...