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Canadian Market Commentary
Bay Street Stocks Linger Slightly Below Unchanged Level - Canadian Commentary
11/20/2009 3:09 PM ET
(RTTNews) -
Toronto stocks remained slightly lower Friday and appear destined for a second straight decline. Mining and energy stocks leading the modest declines.
The S&P/TSX Composite Index has lost 33.24 points or 0.28% to move at 11,567.26. The market had gained in four straight sessions before yesterday's slide.
Mining stocks are down 0.7%. Inmet (IMN.TO) has lost 2.2% and HudBay (HBM.TO) has dropped 2.1%.
Energy stocks are also down 0.7%. Canadian Oil Sands (COS.UN.TO) has dropped 1.9% to lead the way.
In corporate news, Agrium (AGU.TO) has added 0.75% after shareholders of Terra Industries voted three nominees of CF Industries Holdings into the company's board, giving the latter a better-hand in the takeover battle involving Agrium.
Softchoice Corp. (SO.TO) has lost 5.75% after the company said it has entered into a bought deal agreement to sell 2.25 million common shares at C$7.75 per share for gross proceeds of about C$17 million.
Sun Life Financial (SLF.TO) President Jon Boscia told Bloomberg the company needs to make an acquisition in the U.S. The stock is up 0.75%.
AirIQ Inc. (IQ.TO) posted third quarter net loss of C$397,000 or C$0.00 per share, compared to a net loss of C$1.2 million or C$0.01 per share in the previous year quarter.
Yesterday, the S&P/TSX Composite Index lost 52.39 points or 0.44% to settle at 11,600.30. The index had earlier dropped below 11,500.
by RTT Staff Writer
For comments and feedback: contact editorial@rttnews.com
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