Canadian Stocks Experience Mixed Day Amid Earnings Reports and Commodity Price Fluctuations

The Canadian stock market experienced a mixed day on Wednesday, April 27, 2011, with the S&P/TSX Composite Index closing down 16.53 points, or 0.12 percent, at 13,892.57. Despite the slight decline, certain sectors showed significant gains, particularly gold stocks. The S&P/TSX Venture Composite Index, however, bucked the trend, closing up 18.84 points, or 0.84 percent, at 2,251.34.

Key Takeaways:

• The S&P/TSX Composite Index declined by 16.53 points, or 0.12 percent, on April 27, 2011, due to losses in the morning session.
• Potash Corp. of Saskatchewan Inc. dropped 2.45 percent as wheat futures fell after Statistics Canada forecast more planting.
• Gold stocks performed well, with Barrick Gold Corp. increasing 1.24 percent after reporting a 22 percent rise in first-quarter net earnings.
• Kinross Gold Corp. advanced 2.83 percent, while Yamana Gold Inc. climbed 2.48 percent.
• Cenovus Energy Inc. reported a 91 percent drop in first-quarter profits, while Sherritt International Corp. saw a 116 percent surge in the same period.
• The Canadian dollar appreciated against the U.S. dollar, with one U.S. dollar buying 0.9500 Canadian dollars at 5 p.m. local time on Wednesday.

Statistics:

• The S&P/TSX Composite Index closed at 13,892.57 on April 27, 2011.
• Potash Corp. of Saskatchewan Inc. dropped 2.45 percent on April 27, 2011.
• Barrick Gold Corp. increased 1.24 percent on April 27, 2011.
• Gold futures rose, contributing to the performance of gold stocks.
• Cenovus Energy Inc.'s first-quarter profits dropped 91 percent year-over-year.
• Sherritt International Corp.'s first-quarter profits surged 116 percent year-over-year.
• The Canadian dollar appreciated 0.0006 against the U.S. dollar on April 27, 2011.

Sources:

• Xinhua via COMTEX
• www.mysmartrend.com
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