RTTNews - Toronto stocks may give back some of the recently-seen gains on Tuesday morning. Bay Street's main index closed the previous session at an eight-month high.
Energy stocks could give back some of the recent gains as crude oil has dropped 82 cents to $67.76 per barrel on the NYMEX. Gold has inched up $4 to $984.00 per ounce and copper is down 2.6 cents to $2.293.
In corporate news, Magna International (MG.A.TO) may not be done with acquisitions. According to the National Post, the auto parts maker might look into buying General Motors' Saturn unit, after already agreeing to buy Opel.
MKS Inc. (MKX.TO) announced that its fourth quarter net income decreased to US$2.0 million or US$0.04 per share, from US$4.7 million or US$0.09 per share in the fourth quarter of fiscal 2008.
IMAX Corp. (IMX.TO) disclosed the pricing of its public offering of 9.8 million common shares at $7.15 per share. Gross proceeds from the offering are expected to be approximately $70.1 million.
In the healthcare sector, QLT Inc. (QLT.TO) revealed positive twelve-month primary analysis results from the Phase II RADICAL study in patients with wet age-related macular degeneration.
Centrica said it reached an agreement with Canadian Superior Energy (SNG.TO) under which Centrica could acquire a 45% interest in gas development Block 5(c), located off the south east coast of Trinidad, for US$142.5 million in cash.
On Monday, the S&P/TSX Composite Index surged 233.99 points or 2.25% to finish at 10,604.06. The market received a boost from rising copper and crude oil prices as well as a better-than-forecast gross domestic product report from Canada.
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