RTTNews - Toronto's main index has moved higher on Friday, led by resource stocks. With the gains, the market added to yesterday's advance and moved further off of a three-week low.
The S&P/TSX Composite Index has added 94.88 points or 0.93% to move at 10,217.09. The index gained a little more than a half-percent on Thursday.
Once again, mining stocks led the way with a 2.2% gain. Inmet (IMN.TO) has added 2.4%, Teck Cominco (TCK.B.TO) is up 2.2% and First Quantum (FM.TO) has climbed 1.8%.
Gold stocks are up 1.8% and materials stocks have added 1.2% as the precious metal is up modestly in Comex trading. New Gold (NGD.TO) is up 4% and Eldorado (ELD.TO) has climbed 3.3%.
Yamana Gold (YRI.TO) is up 2% after it declared a second quarter dividend of $0.01 per share for shareholders on record June 30, payable July 14.
In other corporate news, Research in Motion (RIM.TO) has dropped 2% after the Blackberry maker reported first quarter earnings of $1.12 per share, up from the $0.84 last year and better than analysts' expectations. The company expects to report second quarter EPS between $0.94 and $1.03, compared to the $0.97 expected by analysts.
Bombardier (BBD-B.TO) has added 1.2% after a group led by the company was awarded a contract to modernize 156 passenger rail cars by Companhia do Metropolitano de Sao Paulo, the state-owned transit operator that runs the Sao Paulo metro system in Brazil's largest city.
Canadian Superior Energy (SNG.TO) is up 1.2% after revealing it will buy Challenger Energy (CHQ.V) in a stock and debt assumption deal worth C$77.8 million.
Greystar Resources (GSL.TO) has added 2.8%. The company announced the resignation of Chief Financial Officer Pauline Pasetka. Executive Vice President Frederick Felder has been appointed acting CFO until a replacement is found.
On the economic front, retail sales in Canada declined 0.8% in April. Sales were expected to fall 0.2%, compared to a 0.3% rise last month.
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