Canadian Stocks Mostly Higher; Aeterna Zentaris Hits Yr Lows After Phase III Study Disappoints

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Canadian stocks are higher today, supported by gains in commodity prices. Crude oil futures are higher this morning, with May Brent contracts up 0.81% to $123.88 a barrel in ICE Futures Europe trading and May NYMEX crude up $1 to $104.02 a barrel. Gold and other metal are higher, with June gold rising rising $12.10 to $1,684 an ounce. May copper is up 8 cents to $3.9065 a pound.

Among the Canadian indices: the

- S&P/TSX Composite index is up 107.42 (0.87%) to 12,499.60

- S&P/TSX Venture Composite Index up 1.15 (0.07%) to 1,567.54

In company news, shares of Aaterna Zentaris Inc. ( AEZS ) plunged over 63% and hit new year lows today after a key Phase III clinical trial for its drug candidate perifosine failed to meet endpoints in the treatment of advanced colorectal cancer. Partner company Keryx Pharmaceuticals ( KERX ) also lost nearly two-thirds of its value and hit year lows, giving back gains in recent weeks on speculation that the study results would be positive.

Also today, Canadian Natural Resources ( CNQ ) is higher, rising about 3% following an upgrade to Overweight from Equal Weight at Barclays.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: AEZS , CNQ , KERX

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