RTTNews - Toronto's main index is modestly higher on Friday afternoon, led by metal-related stocks. The modest gains took the market further off a near-term low from earlier this week.
The S&P/TSX Composite Index has climbed 64.21 or 0.63% to move at 10,185.71.
Gold stocks have added 2.75% and materials stocks have climbed 1.3% as the precious metal inched up $1.60 to $936.20. Yamana Gold (YRI.TO) is up 3.8% after it declared a second quarter dividend of $0.01 per share for shareholders on record June 30, payable July 14.
Mining stocks have gained 1.8%. Inmet (IMN.TO) has added 2.4%, First Quantum (FM.TO) has added 3.6% and Teck Cominco (TCK.B.TO) is up 1.1%.
On the downside, technology stocks have lost 2.4%. Research in Motion (RIM.TO) has dropped 4.5% 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.
Greystar Resources (GSL.TO) has added 5%. 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.
Africo Resources (ARL.TO) announced that the company's minority shareholders have approved the deal with Camrose Resources Ltd. and Comide Sprl, under which, all parties had consented to terminate the acquisition by Africo of the Mashitu property.
Alexis Minerals (AMC.TO) has added 2.1% after the company announced that it will sell 11.66 million units at a price of $0.50 per unit and 7.45 million flow-through common shares at a price of $0.56 per Flow-Through Share for aggregate gross proceeds of $10 million.
Apple's (AAPL) iPhone 3G S officially went on sale Friday. Customers lined up at Apple and AT&T (T) stores for the new smartphone, which comes up with improved speed, longer battery life, 3-megapixel camera and more.
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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