Friday, December 16, 2005, 4:15 PM EST (Thomson Financial Corporate
Group): Bay Street ended Friday on a high note. The mining and minerals
sector posted a gain, despite the bruised underlying gold commodity. The
energy sector posted the biggest loss, as oil futures prices dwindled amid
forecasts for warmer weather in the North East U.S.
* The S&P/Toronto Stock Exchange Composite Index jumped 43.77 points, or
0.39%.
* In technology, the U.S. Patent and Trademark Office has rejected a
second NTP patent in what it described as a non-final action. The patent
is one of five at the center of the patent dispute between NTP and
Research In Motion. Research In Motion was lower.
* Also in the sector, Com Dev International had its rating raised by
Clarus to "buy" from "hold" after the company reported fourth-quarter
earnings of C$0.03 per share, versus a loss of C$0.03 per share a year
ago. Its stock climbed.
* In industrials, Onex said subsidiary Emergency Medical Services plans to
raise C$117 million in an initial public offering of a 19.5% stake in the
ambulance firm. Onex acquired EMS earlier in the year; its stock dropped.
* In basic materials, Arcelor is considering raising its C$56 per share
bid for Dofasco to thwart ThyssenKrupp AG's offer of C$61.50 per share.
Dofasco has recommended the ThyssenKrupp offer to its shareholders; its
stock gained.
* Also, Canfor will transfer its Englewood Logging Operation on Vancouver
Island to a new fiber partnership jointly owned with Oji Paper Canada.
Canfor will get a partnership stake with an agreed value of C$45 million.
The assets, in part, will then be transferred to Western Forest Products
in return for a long-term supply agreement. Canfor lost ground.
* In oil and gas, Petrolifera Petroleum announced its RN.PM.X-1002 well
flowed at an average of 2,340 barrels per day during a six-hour test.
Shares advanced.
* Elsewhere, Canadian Natural Resources had its rating cut by RBC to
"sector perform" from "outperform." Its stock tumbled.
* Turning to telecoms, BCE will sell its stake in CGI for total proceeds
of C$859.2 million, resulting in a first-quarter gain of about C$80
million. CGI bought 100 million of its Class A shares held by BCE. Both
companies gained.
* In addition, Telus expects a 6% to 7% increase in overall revenue for
2006 thanks to growth in wireless services and expects to buy back 24
million shares over the next year. Its stock rose.
-Robert.Callahan@thomson.com; Thomson Financial Corporate Services
This is Thomson Financial Corporate Services Canadian Commentary,which is
updated twice daily. The information herein is believed to be true and
accurate, we take no responsibility for inaccurate information and reserve
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SOURCE Thomson Financial Corporate Group
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