US Market Commentary
11/20/2009 5:03 PM ET
(RTTNews) -
Canadian stocks fell for a second straight session on Friday as commodity-linked sectors saw mild weakness.
The S&P/TSX Composite Index fell 20.97 points or 0.18% to finish at 11,579.33. The market had climbed in four sessions in a row.
Energy stocks fell 0.7%. Nexen (NXY.TO) and Canadian Oil Sands (COS.UN.TO) dropped 2.1% and Imperial Oil (IMO.TO) dropped 1.8%.
In corporate news, 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 (AGU.TO). Shares of Agrium rose 0.6%.
Softchoice Corp. (SO.TO) dropped 5.6% 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 0.9%.
MacDonald, Dettwiler and Associates Ltd. (MDA.TO) announced that it has signed a contract worth more than C$200 million with the Russian Radio Research and Development Institute to provide two advanced technology solutions for the Express AM5 and Express AM6 satellites. MDA stock finished up 0.25%.
On Monday, Canadian retail sales data for September is due at 8:30 a.m. ET. A rise of 0.1% is forecast, compared to an 0.8% jump in August.
by RTT Staff Writer
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