Canada's main stock market, the Toronto Stock Exchange, closed
up 25 points but around 30 points off day highs Monday, buoyed by
higher oil and gold prices.
More gains could have been made but Eastern Platinum (ELR.TO)
fell more than 20% to a new year low of 8 cents with a massive 58
million shares traded. The company last week reported that it had
suspended funding for the Crocodile River Mine "Development Plan"
previously announced on June 12, 2012 because of the negative
The market was awaiting earnings results after market close from
Rogers Communications Inc. (RCI-B.TO). Analysts expected earnings
of around 76 or 77 cents compared to 67 cents a year earlier.
Revenue growth of 3% was seen.
CN Rail (CNR.TO) was supposed to release its financial and
operating results for the first quarter ended March 31, 2013, after
market close too - but the results were reportedly posted on its
website early. Q1 2013 adjusted diluted earnings per share were
$1.22, an increase of 3% over adjusted diluted EPS of $1.18 for the
same period of 2012 but at the low end of expectations.
With commodities, oil added 0.90% in today's session to close at
US$88.80 a barrel. At market close, June became the front-month
contract, following the expiration of the May contract. Gold
futures added 1.8% today to finish at US$1,421.20 an ounce on the
Comex division of the New York Mercantile Exchange on strong
physical demand after the metal's recent slide attracted buyers
back to the market.
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