Canada's main stock market, the Toronto Stock Exchange, was
under selling pressure from the off - it opened down 12 points from
Friday's close, was down 50 points after 30 minutes of trade - and
sure enough it ended Monday's session 65 points lower and with
Most sectors lost ground, led by Metals & Mining. Still,
easily most actively traded was Aurizon Mines (ARZ.TO), which
gained 3%. Hecla Mining Company has entered into a definitive
arrangement agreement with Aurizon that will see Hecla acquire all
of the issued and outstanding common shares of Aurizon in a
transaction with a total value of approximately C$796 million. It
offered $4.75 per share. In January, Aurizon turned down an
unsolicited takeover offer of $4.65 per share from Alamos Gold,
which already owned nearly 16%.
MarketWatch reported: "Gold futures finished with a slight gain
Monday, finding their footing after a three-session decline as
traders looked ahead to central-bank meetings and global economic
data due out this week." It said: "April gold settled at $1,572.40
an ounce on the Comex division of the New York Mercantile Exchange,
up 10 cents for the session."
MarketWatch also reported: "Oil futures settled with a loss on
Monday, with worries about energy demand in China helping prices
mark a fresh low for the year." It said: "April crude fell 56
cents, or 0.6%, to settle at $90.12 a barrel on the New York
Mercantile Exchange. That was the lowest settlement for a
front-month contract since Dec. 24, according to FactSet. Prices,
which have now fallen for three sessions in a row, dipped under $90
during Monday's session."
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