Bay Street Stocks Remain Near Three-Week High - Canadian Commentary

(RTTNews) - Bay Street stocks closed little changed on Friday after bouncing back from an early slump. With the rebound the market remained near a three-week high.

The S&P/TSX Composite Index inched up 0.25 point to finish at 11,504.76. The index finished up about 80 points on the holiday-shortened week.

Utilities gained 1.3% to lead the way. Epcor Power (EP.UN.TO) gained 4% and TransAlta (TA.TO) gained 2.7%,

The gold and materials indicies both gained about 1.2%. Yamana (YRI.TO) rose 3.4%, Royal Gold (RGL.TO) added 3%, Agnico-Eagles Mines (AEM.TO) climbed 1.6% and Goldcorp (G.TO) added 1.4%.

Financials fell 0.6% after Bank of America (BAC) fell well short of expectations with its third quarter earnings report. CIBC (CM.TO) and Toronto-Dominion (TD.TO) fell 1%.

In corporate news, Volta Resources (VTR.TO) surged 16.4% after the company said it signed a definitive agreement with Randgold Resources to purchase the Kiaka gold project in Burkina Faso for C$4.0 million in cash and 20 million common shares of Volta.

Pengrowth Energy Trust (PGF_U.TO) slipped 2.1% after the company announced that will increase the size of its previously announced offering to C$300 million.

CryptoLogic (CRY.TO) plunged 21.5% after the company said that it expects third quarter revenue of about $9.6 million, and a trading loss of about $3.4 million.

Etruscan Resources (EET.TO) has risen 3.6% after the company reported third-quarter net income of C$1.4 million or C$0.01 per share compared with C$2.1 million or C$0.02 per share in the same quarter last year.

Canadian Royalties (CZZ.TO) soared 34.5% after Jien International Investment and Goldbrook Ventures (GBK.V) increased its offer for Canadian Royalies to about C$192 million.

In economic news, Statistics Canada reported the consumer price index fell 0.9% year-over-year in September, following a 12-month decline of 0.8% in August, and equaling the 0.9% drop in July. Price stability may give the Bank of Canada room to keep interest rates low.

On Monday, international securities transactions data will be released at 8:30 a.m. ET. The leading index report is coming on Tuesday.

For comments and feedback: contact editorial@rttnews.com

Posted in Categories: Canada, Releases, Stocks.

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Commodities Silver ETFs: More Gains To Come? Oil Seems Like It’s Going Nowhere… But The Story Is Very Different Below The Surface Distorted IEA Oil Reserve Figures Create Biofuel Opportunities In “White Gold” Region Of Central Asia The Simplest Reason Gold Will Soar Physical Gold, Silver And Oil Out-Performing Their Stocks? Silver Hits New Highs At Top Of Uptrend Channel Gold Has Just Barely Entered The Gravity-Free Zone More Than Just Mines: A Look At Other Ways To Profit From Coal, Copper And Ore China Owns The Heavy Stone Has Gold Just Broken Out Of Its Trend Channel? Read More »	Financials Don’t Count Out Actively Managed ETFs U.S. Bank Failures Reach 124 Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Read More »	Exchange Traded Funds Protect Yourself Against An Imminent Stock Market Correction Japan ETFs: The New War They’re Waging India ETFs: Too Much, Too Soon? ETF Update: Health Stocks And Health Care Legislation Biggest Gainer ETFs For The Week Ended 22 Nov What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs The Forgotten Commodity - Rice Read More »
Stocks Insider Selling Can Be An Important Tool In Determining Potential Trouble For Both Individual Stocks And The Broader Market Stock Picks For Tuesday: Curis, THQ And DryShips Buy Microsoft Stock As It Transits Into The Cloud-Computing Revolution Chart Of The Week: No More Easy Money For Volatility Sellers? 2009 Best Small Companies Part 3 Why Is Pimco’s Bill Gross Investing In Utilities? Morning Movers: LDK Solar, Origin Agritec, USG Stocks To Watch On Monday Thanksgiving Week: Stock Trading Tends To Be Less Bullish Stock Market News: Ebay Website Outage; Microsoft In Discussions With News Corp. To “De-index” Firm’s News Websites From Google Read More »	Forex EUR/USD Lower In Asia Trading Forex Trading Ideas: Is Sterling About To Get Pounded? AUD/USD Loses Momentum After Testing The 200-Hour Moving Average Fed Comments Revive Risk Appetite, Sending US Dollar Lower Structural US Dollar Weakness Persists Australian Dollar: Caution Canadian Dollar: Caution Forex Traders Await Tuesday’s German IFO Report Better Existing Home Data Leads To Some US Dollar Buying Swiss Franc: The Downside Prevails Read More »	Economy Government Debt - The New Subprime? Heeding The Populist Call Here’s A Sector To Short Cartoon: This Unemployment Line Seems Different 29 Retailers You’ll Have A Harder Time Finding After 2009 Emerging Markets Consider Capital Controls To Combat “Hot Money” Inflows Despite Recession, Innovation Is Alive And Well What Is Ron Paul’s Real Agenda When He Talks About Auditing The Fed China: A Riddle Wrapped In An Enigma Should A House Be Treated As A Great Investment? Read More »