LOR.T..scan down to see what they say about LOR
Canadian Equity Movers: Ipsco, Jetform, Leitch, Stelco (Final)
Canadian Equity Movers: Ipsco, Jetform, Leitch, Stelco (Final)
Toronto, Jan. 5 (Bloomberg) -- Canadian stocks fell for a
second day, led by Nortel Networks Corp., BCE Inc., banks and
other interest-rate sensitive shares, on concern that the Federal
Reserve may raise interest rates soon.
The Toronto Stock Exchange 300 Composite Index fell 83.20,
or 1.01 percent, to 8119.40.
The following stocks made significant gains or losses in
Canadian markets. Symbols are given in parentheses after company
names.
Inflows and outflows represent the difference between the
value of trades made at a higher price than the previous trade
and those made at a lower price.
Such money flows show whether people are willing to pay more
for a stock that's rising, or to sell a stock that's falling for
less. If they aren't, it's a signal that the share price may soon
change direction.
Air Canada (AC CT) fell C$0.25 (US$0.17), or 2.4 percent, to
C$10.25 on inflow of C$420,000. The country's biggest airline
completed the purchase of an 82 percent stake in Canadian
Airlines Corp. (CA CT), the first step in its C$92 million plan
to take over its cash-strapped rival. Canadian Airlines fell
C$0.04, or 2.1 percent, to C$1.86.
International Forest Products Ltd. (IFP/A CT) rose C$0.34,
or 8.7 percent, to C$4.25. The forestry company was maintained
``buy' by analyst Steven Chercover at TD Securities. He said he
expects the shares to reach C$10 in 12 months.
Ipsco Inc. (IPS CT) rose C$0.50, or 1.8 percent, to C$28.75.
The Regina, Saskatchewan-based steel producer was maintained
``strong buy' by analyst Anna Sorbo at CIBC World Markets Inc.
Jetform Corp. (JFM CT) rose C$1.80, or 22 percent, to
C$9.95. The Ottawa-based software company's stock rose for a
second day on optimism customers will resume upgrading software
systems suspected of being vulnerable to the year 2000 computer
bug.
Leitch Technology Corp. (LTV CT) rose C$3.70, or 21 percent,
to C$21.50. The Toronto-based electronics maker was maintained
``strong buy' by analyst Byron F. Berry at Yorkton Securities.
The 12 to 18-month target price is C$24 per share.
Lorus Therapeutics Inc. (LOR CT) rose C$0.68, or 43 percent,
to C$2.25 on outflow of C$320,000. The pharmaceutical company
cited optimism about early tests of an anti-cancer drug that it's
developing. The shares have more than doubled in the past week.
Nova Chemicals Corp. (NCX CT) rose C$1.65, or 5.9 percent,
to C$29.65 on outflow of C$3 million. The Calgary, Alberta-based
chemical company was maintained ``buy' by analyst Robert
Hastings at Goepel McDermid Inc. He said he expects the shares to
reach C$45 in 12 months.
Pan American Silver Corp. (PAA CT) fell C$0.50, or 6.7
percent, to C$6.95 on inflow of C$40,000. The Vancouver-based
silver-mining company was maintained ``hold' by analyst Chris
Kwan at TD Securities.
Pursuit Resources Corp. (PUT CT) rose C$0.25, or 11 percent,
to C$2.60. The Calgary, Alberta-based oil and natural-gas company
hired investment firm Peters & Co. to find ways to boost the
stock.
SR Telecom Inc. (SRX CT) rose C$0.25, or 5.7 percent, to
C$4.65. The St. Laurent, Quebec-based phone-parts maker sold its
90 percent-owned Apollo Microwaves Ltd. subsidiary in a
management buyout. Terms weren't disclosed. In addition to the
purchase agreement, Apollo will supply SR Telecom with products
for five years.
Stelco Inc. (STE/A CT) rose C$0.45, or 4.3 percent, to
C$10.95. Canada's biggest steel producer was maintained ``strong
buy' by analyst Anna Sorbo at CIBC World Markets Inc.
Tembec Inc. (TBC/A CT) rose C$0.80, 4.9 percent, to C$17.
The Montreal-based forest-products company said it will invest
C$14.8 million to modernize its Cochrane, Ontario, sawmill.
TransAlta Corp. (TA CT) rose C$0.45, or 3.1 percent, to
C$14.80 on outflow of C$1.6 million. The Calgary, Alberta-based
electrical utility was maintained ``buy' by analyst Karen Taylor
at TD Securities. She said she expects the shares to reach C$17
in 12 months.
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