Bay Street will look to stay in rally mode Tuesday morning in New York, but early signals are pointing to a lackluster open as traders take a breather following yesterday's huge gains.
Canadian stocks surged Monday as traders expressed optimism over the U.S. government's plan to purchase as much as $1 trillion in toxic assets on the books of troubled banks.
The S&P/TSX Composite Index added 452.16 points or 5.31% to close at 8,958.51. The index posted its best finish since February 9, the last day it last touched above 9,000.
Tuesday's outlook is less rosy, with traders expected to book profits. Energy stocks may struggle out of the gate as the price of oil his dipped near a dollar to $52.90 a barrel.
Military equipment maker Allen-Vanguard Corp. (VRS.TO) revealed the completion of its previously announced rights offering of subscription receipts to eligible shareholders raising total gross proceeds of approximately C$14.1 million.
Rogers Corp. (ROG) announced that it has signed an agreement to acquire certain assets of MTI Global Inc.'s (MTI.TO) silicones business for US$7.4 million.
The assets include product lines, technology, and manufacturing equipment at MTI Global Inc.'s Bremen, Germany, and Richmond, Virginia, USA, plant sites.
CryptoLogic Ltd. (CRYP) said it has signed an agreement to provide its Internet casino software to The Gaming Network, or TGN, starting in the third quarter of 2009.
The first TGN brand to carry CryptoLogic software will be www.lottery.co.uk, which receives more than 2.2 million page views and 800,000 unique visits per month.
HudBay Minerals Inc. (HBM.TO) announced that it has named Peter Jones chief executive officer. The company also appointed Wesley Voorheis as chairman
The company said that Bruce Barraclough, Brian Gordon, Alan Roy Hibben, Warren Holmes, Peter Jones, John Knowles and Alan Lenczner join on new board of directors.
For comments and feedback: contact firstname.lastname@example.org