Canadian Stocks Back In Positive Groove, Thanks To Energy and Mining Issues


Canada stocks are now up 20 points after an eventful morning and early afternoon. First of all it lost gains that saw it open 20 points higher than the previous close and stand 50 points higher mid-morning. Then it fell all the way back and edged in to negative territory before midday. But it didn't stay there long and is again adding to the 23 points gained yesterday.

Mining and Energy stocks are fuelling the gains, keeping the broader market in positive territory. Among the advancers today, Endeavour Silver (EDR.TO, EXK) is up nearly 11% on the TSX after reporting Q4 earnings of $0.13 per share, ex one-time items, beating the Capital IQ consensus by a penny.

Revenue rose 29% over the year-ago quarter to $66.7 mln as silver production climbed 9% to 1.24 mln ounces. For FY13, EXK expects silver production to increase 12% to 18% to as much as 5.3 mln ounces. Gold production is anticipated to increase between 19% to 27%, or at least 46,000 ounces.

Info Tech stocks are among the biggest losers, with Blackberry (BB.TO, BBRY) shares now down 4%, giving back a portion of yesterday's 14% rise that followed comments by the chief executive of Lenovo Group in a French publication that a deal to buy BBRY could potentially make sense. AT&T ( T ) began taking pre-orders for the Z10, the new BBRY smartphone that goes on sale in the U.S. on March 22. But Blackberry could face a big challenge in growing its sales with Samsung set to showcase its latest smartphone Wednesday.

Also today, shares of Cott Corp (BCB.TO, COT) are down about 0.3% from near year highs after the private-label bottler inked a deal with SodaStream International Ltd. (SODA ) to produce flavors specifically made for the SodaStream carbonation system. Terms of the deal were not disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: T

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