RTTNews - Toronto stocks are little-changed on Wednesday on a volatile day of trading. Mining stocks are leading the gainers, while energy stocks are slightly in the red.
The S&P/TSX Composite Index has added 7.87 points or 0.07% to move at 10,523.23. The market fell yesterday after six straight gains took the main index to a five-week high.
Mining stocks are up 1.7%. First Quantum (FM.TO) has added 2.9% and HudBay (HBM.TO) has added 1.25%. Teck Resources (TCK.B.TO) has climbed 2% as investors await the company's quarterly earnings report after the bell.
Energy stocks are down 0.25% as crude oil has slipped modestly lower amid choppy trading. Canadian Natural Resources (CNQ.TO) has slipped 1.9%. Meanwhile, Suncor (SU.TO) is slightly higher after the company reported second quarter earnings of C$185 million or C$0.20 per share, sharply below C$920 million or C$0.99 per share reported in the second quarter of 2008.
Precision Drilling Trust (PD.UN.TO) has added 1.5% after the company reported second quarter earnings of $57 million or $0.22 cents per unit, compared to $22 million or $0.16 per unit a year earlier.
On the corporate front, Shoppers Drug Mart Corp. (SC.TO) has climbed 1.3% after the company posted second quarter net earnings of C$136.1 million or C$0.63 per share, compared to C$126.6 million or C$0.58 per share in the previous year quarter.
Magna International (MG.A.TO) is up 1.1%. The German government said it favors Magna's group in the battle to acquire the Opel unit of General Motors, according to reports.
Silvercorp Metals (SVM.TO) rose 2.8% after the company announced that its offer to acquire all the outstanding shares of Klondex Mines has been terminated.
Ventana Gold Corp. (VEN.TO) is up 0.8% after the company said that it has appointed Stephen Orr as president and chief executive officer, effective September 1.
TransAlta Corp. (TA.TO) has slipped 0.6% after the company that its subsidiary has formally commenced its offer to acquire Calgary-based Canadian Hydro Developers (KHD.TO). Canadian Hydro Developers shares are up 0.4%.
In economic news, Canadian retail sales rose 1.2% in the month of May, according to Statistics Canada. This is compared to a revised 0.6% drop for April. Excluding auto, sales were up 0.7% after falling 0.5% in April.
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