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13:04 GMT
26
Oct 2009

Bay Street Stocks Poised For Lackluster Open - Canadian Commentary

(RTTNews) - Toronto stocks could remain near the unchanged mark early on Monday as traders await the latest earnings news. The market fell to its lowest level in more than two weeks in the previous session.

On the commodity front, crude oil has declined 37 cents to $80.13 a barrel and gold dropped $2.60 to $1,053.80 an ounce, while copper has added 2.25 cents to $3.057 per pound.

Iamgold Corp. (IMG.TO) announced it now projects 2009 production of about 940,000 - 950,000 ounces of gold, an increase of 30,000 ounces over its prior guidance issued in June 2009.

DDi Corp. said it has offered to acquire all the outstanding shares of Coretec (CYY.TO) for C$0.20 per share, or approximately C$3.6 million.

Canfor Pulp Income Fund (CFX_U.TO) reported its third quarter net income of C$18.3 million or C$0.26 per share, compared to C$11.1 million or C$0.15 per share in the same period last year.

Later in the week, Canadian Pacific Railway (CP.TO) and Nexen (NXY.TO) are among the companies reporting quarterly earnings results.

On Friday, the S&P/TSX Composite Index dropped 151.24 points or 1.31% to close at 11,382.13.

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Posted in Categories: Canada, Releases, Stocks.

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