Bay Street Stocks Little-Changed - Canadian Commentary

(RTTNews) - Toronto stocks are little-changed in mid-morning trading after paring most of their early losses. Bay Street’s main index has experienced more modest weakness than most of its foreign counterparts.

The S&P/TSX Composite Index has lost 3.92 points or 0.04% to 8,774.86. The market closed higher on Thursday after two straight days of decline.

Gold stocks are down 2.5% as the precious metal has slipped $11.30 to $937.90 per ounce. Among the big names, Agnico-Eagle Mines (AEM.TO) is down 3.8%, Barrick Gold (ABX-TO) has lost 2.5% and Kinross (K.TO) is down 2.25%.

Technology stocks are showing a 1.9% drop as Research in Motion (RIM.TO) has declined 5.4%.

Mining stocks led the gainers as copper prices rose on the Comex. First Quantum (FM.TO) has rallied 8.8%, while Teck Cominco (TCK.B.TO) is up 2.2%.

Energy stocks are up 0.9% as crude oil has jumped $1.94 to $35.92 per barrel. Savanna Energy (SVY.TO) has added 4.2%, Canadian Oil Sands (COS.UN.TO) is up 2.8% and Encana (ECA.TO) has increased 1.5%.

Enbridge (ENB.TO) is up 0.5% as company’s quarterly earnings increased to C$265.2 million or C$0.71 per share from C$250.4 million or C$0.69 per share in the previous year.

In other corporate news, Air Canada (AC-A.TO) plunged 30.25% after the company reported a net loss of C$727 million, compared to net income of C$35 million.

Telus Corp. (T.TO) has slipped 1.7% after the company reported its net income declined to C$285 million or $0.89 per share, compared to C$400 million or C$1.22 per share in the comparable period last year.

Orvana Minerals Corp. (ORV.TO) reported first-quarter net income of US$3.9 million or US$0.03 per share, lower than net income of US$6.9 million or US$0.06 per share in the year-ago quarter.

On the economic front, data released on Friday morning showed Canadian new motor vehicle sales declined 14.8% in December.

For comments and feedback: contact editorial@rttnews.com

Posted in Categories: Canada, Releases, Stocks, USA.

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Commodities Gold, Silver, Oil, Natural Gas: Sideways Trading Action Likely US Dollar Tops, While Precious Metal Stocks Bottom: There’s More To Seasonality Than Summer Doldrums ‘Worst Is Behind Us,’ UH Economist Says Non Farm Payrolls To Bring The Bears Out Eight Months Into The Rally, What’s Next For The US Stock Market And Gold? Update: Gold’s Expanding Arc In Daily Chart Back To Bubble Land Fuel Your Stock Portfolio With BHP Billiton: The Best-Run Commodities Company In The World Will Gold’s Historic Bull Run Spill Over Into Silver? Gold, Silver, Oil And Natural Gas Have Gone Wild! Read More »	Financials The Mob Rules - At Least So Long As Long As Goldman And The Fed Can Continue To Drive The US Dollar Into The Ocean Stock Picks For Monday: Citigroup, JDS Uniphase And General Electric Are Discount Broker Shares Worth Owning? Investment News Briefs: UBS Fined $13.3 Million; Exxon And Shell Sign Iraq Oil Contract; Shares Of Ancestry.com Soar On IPO Retaining Risk On Wall Street: Necessary But Painful A Still-Safe 18% Dividend In “Virtual Banks” Goldman Sachs ‘Shooting Fish In A Barrel’ Warren Buffett Goes “All In” On America… How To Play The Oracle’s Big Bet IASB At Odds With FASB On ‘Extend And Pretend’ Option Traders Suggest Further Retail Sector Weakness Read More »	Exchange Traded Funds Rydex Market Timer Funds: Extremely Mixed ETFs To Cover What Warren Buffett Is Buying 10 Reasons ETF Tracking Error Occurs Law Firm Files Class Action Lawsuit On Behalf Of Investors In ProShares Ultra Oil & Gas Fund (DIG) 6 Reasons To Watch China’s ETFs Five Tips For Trading ETFs The Carry Trade: What Is It And How To Play It? Midday Market Update: Jobs Report Cheers Wall Street Gold ETF: With Each Push Higher, Volume Has Been Declining Gold To Continue Its Record Run As Central Banks Stock Up Read More »
Stocks Many Western Oil Producers Like Exxon, Shell And Eni Are Reluctantly Returning To Iraq’s Oilfields Stock Investor Sentiment: Changes Within The Indicators Combining Bollinger Bands On Rates Of Change In The VIX Is Another Bubble Building In Stocks, Commodities And Currencies? Month To Date Market Review S&P 500: Market Is Strong, But Correction Should Continue Doctor Up Your Portfolio With This Medical Communications Company Dendreon Corp.: Put This Promising Biotech Stock On Your Watch List Has Asia Dethroned Detroit As The Auto Sector Leader? Three Marketing Giants Adjust To The New “Post-Crash” Reality Read More »	Forex Monday’s Forex Outlook Dollars And Books Revisited Weak U.S. Economy May Not Mean Weak Dollar This Time Australian Dollar: The Downside Prevails Canadian Dollar: Caution USD/JPY Moves Below The 89.82 Level As Stocks Move Back And Forth Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Read More »	Economy Cartoon: I Feel Bullish… Economic, News And Corporate Earnings Reports For The Week Nov 9 - 13 Stimulus Is Only Stimulating “Economic Misery” The Problems With “Printing Your Way Out Of Debt” US Unemployment Rate Up Unexpectedly At 10.2%: Is The Economic Rebound A “Jobless Recovery”? US Commercial Property Sector: A Tsunami Of Red Ink Interesting Articles To Read US Unemployment Rate Troubling, But … Cartoon: It’s Still The Economy, Stupid Extension Of US Unemployment Benefits: Will That Really Benefit The Overall Economy? Read More »