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TSX Slips At Open Thursday

Bay Street stocks moved down at open Thursday amid selling in commodities, with the S&P/TSX Composite Index losing 38.24 points or 0.30 percent to 12,661.41.

The Global Gold Index shed close to 1 percent, with Allied Nevada Gold (ANV.TO) losing close to 4 percent. Detour Gold (DGC.TO) and Barrick Gold (ABX.TO) were down around 2 percent each.

In the financial space, Scotiabank (BNS.TO) was down about 2 percent, while Sunlife Financial (SLF.TO) dipped 1 percent.

Meanwhile, Research In Motion (BB.TO) jumped over 5 percent after it swung to profit in fourth-quarter, reporting net income of $98 million or $0.19 per share compared to a loss of $125 million or $0.24 per share last year.

In the oil patch, Coastal Energy (CEN.TO) rose nearly 5 percent after reporting a much improved full year earnings.

French oil giant Total SA announced that it would divest its entire 49 percent interest in the Voyageur Upgrader Limited Partnership to Suncor Energy (SU.TO), which owns the remaining 51 percent. Suncor Energy (SU.TO) edged up 0.50 percent.

Commercial and defense aircraft manufacturing company Magellan Aerospace Corp. (MAL.TO) gained about 4 percent after reporting improved fourth-quarter profit.

by RTT Staff Writer

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