Stock Prices End Flat
April 26, 2011
The Toronto Stock Exchange 300 Composite Index inched up 0.58 to 5048.82, after losing 15.92 Tuesday. Advancing issues edged decliners, 434 to 407. Volume totaled 62.1 million shares valued at 739.2 million Canadian dollars, slightly less than Tuesday's 62.3 million shares valued at C$882.9 million. In keeping with recent history, Toronto again lagged New York, where the Dow Jones Industrial Average rose 19.60 to 5666.88. Overall on Bay Street, seven of the TSE's 14 stock groups finished higher, with the energy sector posting a 0.69% gain to lead the way. ``The gurus had been telling us to expect lower oil prices'' in anticipation of the resumption of oil exports from Iraq, ``but they were wrong,'' said Solberg Brady of Maison Placements Canada. Now, expectations are for energy prices to remain relatively high on reports that fuel oil inventories, for example, are lower than this time last year, and on the possibility of weaker-than-expected production levels in Europe, Brady said. As a result, ``oil stocks look pretty good,'' he said. But despite gains in energy and several other sectors, a 1.66% drop in the heavily weighted gold group dragged on Toronto's key index. In the group, Barrick Gold fell 1.20 to 37.50. On the Comex division of the New York Mercantile Exchange, the price of gold fell US$1.50 to US$386.40 an ounce.
VastPress 2011 Vastopolis
