Business
TSX gains on oil plays
TSX gains on oil plays
About this update from Xali Gold Corp.
[{"type":"text","content":"\nTSX gains on oil plays\n\nIT leads TSX subgroups\n Feb. 2, 2010 (Baystreet.ca) -- Following strong gains in the previous sessions, Canadian stocks are set to claw back more of last week's big losses, bolstered by rebounding gold and energy prices.\n\nThe S&P/TSX Composite Index inched its way out of the starting blocks, gaining 29.61 points to 11,347.16. \n\nOil stocks may be in play, with February crude gaining in price. Further, an encouraging earnings report from the country's largest oil company, Suncor Energy, may also help improve traders' sentiment. \n\nEurope's biggest oil company, BP PLC, also reported that it swung to profit in the fourth quarter 2009. However, it said that it expects the recovery from last recent recession to be 'slow and gradual.'\n\nGold stocks are likely to attract buyers after the price of bullion recovered from its three-week low, hit last week. \n\nIn corporate news, Suncor Energy swings to profit by reporting fourth-quarter net earnings of $0.29 per share, compared to a net loss of $0.24 per share in the fourth quarter of 2008. \n\nComputer security services provider Absolute Software posted second-quarter net loss of $0.05 per share, narrower than $0.32 per share in the prior year period.\n\nInformation services provider Xenos Group announced that approximately 9.5 million of its common shares had been validly deposited to the offer by Actuate on February 1.\n\nIntegrated oil company Cenovus Energy recommended that its shareholders reject unsolicited offer made by TRC Capital Corp. The offer price of $23.55 per common share represents about a 4.8% discount to the $24.75 closing price for Cenovus's common shares on the Toronto Stock Exchange on January 27. \n\nToronto Stock Exchange operator TMX Group said a reduction in stock trading fees for 'penny stocks' would cost it about $15 million a year.\n\nPrinting papers dealer Catalyst Paper Corp. announced that it will defer its $100-million rights issue, pending search for a new CEO.\n\nMineral property developer Calibre Mining Corp. announced that it has promoted Paulo Santos to Chief Financial Officer from previous position as Controller.\n\nCandente Gold revealed the appointment of John Foulkes as Vice President of Corporate Development. Foulkes has over 10 years of experience managing Corporate Development and Investor Relations programs fo...