BAYSTREET RSS FEED en-us Copyright (c) 2014 Inc. All rights reserved. 10/31/2014 12:54:35 PM <![CDATA[Canfor Pulp "STRONG BUY"]]>Fri, 31 Oct 2014 07:26:40 EST<![CDATA[Oil futures lower after supply report ]]>Wed, 22 Oct 2014 12:00:00 EST, October 22, 2014

Oil futures lower after supply report

U.S. crude-oil supplies rose by 7.1 million barrels in the week ended Oct. 17, according to information released this morning by the Energy Information Administration.

Analysts surveyed by Platts had expected an increase of 2.5 million barrels. Crude futures reversed course on the news, and the November contract was recently down 64 cents, or 0.8%, at $81.84 U.S. a barrel on the New York Mercantile Exchange.

The contract traded at $82.55 U.S. before the report. The EIA also said gasoline inventories decreased 1.3 million barrels on the same week, and supplies of distillates rose one million barrels.

The analysts polled by Platts had expected gasoline inventories to decline 1.7 million barrels, and distillates supplies to fall 1.5 million barrels.

<![CDATA[Lenovo completes Motorola deal]]>Thu, 30 Oct 2014 12:00:00 EST, October 30, 2014

Lenovo completes Motorola deal

China's Lenovo Group Ltd said Thursday it has closed its $2.91-billion U.S. acquisition of the Motorola handset unit from Google Inc., paving the way for a fresh assault on the U.S. smartphone market.

The purchase comes as Lenovo, the world's leading PC maker, ramps up its effort to diversify its business and establish itself as a smartphone maker with global appeal.

Google acquired the iconic smartphone brand and its prized patent portfolio in 2012 for $12.5 billion U.S. but struggled to reverse Motorola's years-long decline. Under the Lenovo deal, Google will retain a significant portion of Motorola's patents.

<![CDATA[Economic Calendar]]>Fri, 31 Oct 2014 12:54:35 EST 2014


Friday, October 03, 2014 Canadian international merchandise trade: 8:30am Aug Canada's merchandise imports rose 3.9% in August, while exports decreased 2.5%. As a result, Canada's trade balance with the world went from a surplus of $2.2 billion in July to a deficit of $610 million in August. Canada's merchandise exports increased 1.4% in July, while imports edged down 0.3%. As a result, Canada's trade surplus with the world widened from $1.8 billion in June to $2.6 billion in July.
Monday, October 06, 2014 IVEY purchasing managers index: 10:00am Sept Western University’s Ivey PMI data for September came in at 58.6, compared to 50.9 in August, and 51.9 in September 2013. Western University’s IVEY Purchasing Managers’ Index stood at 50.9 by the end of August, down from July’s reading of 54.1, and the 51 reading in August of last year.
Tuesday, October 07, 2014 Building Permits: 8:30am Aug The total value of building permits issued by Canadian municipalities fell 27.3% to $6.7 billion in August, following three months of double-digit increases. Canadian municipalities issued building permits worth $9.2 billion dollars in July, up 11.8% from June and the fourth consecutive monthly advance.
Wednesday, October 08, 2014 Housing Starts: 8:15am Aug A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts climbed to 197,343 units last month from an upwardly revised 196,283 units in August. That topped analysts' forecasts for 196,100. August was originally reported as 192,368. Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts slipped to 192,368 last month from a downwardly revised 199,813 units in July.
Thursday, October 09, 2014 New Housing Price Index: 8:30am Aug The New Housing Price Index rose 0.3% in August, following no change in July. The New Housing Price Index was unchanged in July, following a 0.2% increase in June.
Friday, October 10, 2014 Labour Force Survey: 7:00am Sept Employment increased by 74,000 in September, nearly all in full-time work. This pushed the unemployment rate down 0.2 percentage points to 6.8%, the lowest since December 2008. Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged.
Wednesday, October 15, 2014 CREAstats - MLS sales: 8:30am Sept Figures released by the Canadian Real Estate Association showed that national home sales fell 1.4% from August to September. Actual (not seasonally adjusted) activity stood 10.6% above September 2013 levels. CREA also said the number of newly listed homes declined by 1.6% from August to September. The average price of a Canadian home increased by more than 5% in the past year, according to the Canadian Real Estate Association, which adds the average home sold went for $398,618 in August.
Thursday, October 16, 2014 Canada's International Transactions in securities: 8:30am Aug Foreign investment in Canadian securities totaled $10.3 billion in August and included both debt and equity instruments. Canadian investment in foreign securities decelerated from July Canadian investors added $9.7 billion of foreign securities to their portfolios in July, the largest such investment since April 2007. Meanwhile, foreign investors acquired $5.3 billion of Canadian securities, mainly instruments from the corporate sector.
Thursday, October 16, 2014 Monthly Survey of Manufacturing: 8:30am Aug Canadian manufacturing sales fell 3.3% in August to $52.1 billion, the first decline in 2014. Canadian manufacturing sales increased 2.5% to $53.7 billion in July, largely as a result of higher sales in the transportation equipment and primary metal industries.
Friday, October 17, 2014 Consumer Price Index: 7:00am Sept Consumer prices rose 2.0% in the 12 months to September, following a 2.1% increase in August. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.2% in September, after rising 0.1% in August. Consumer prices rose 2.1% in the 12 months to August, matching the increase in July. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.1% in August, after decreasing 0.1% in July.
Monday, October 20, 2014 Wholesale trade: 8:30am Aug Wholesale sales edged up 0.2% to $53.1 billion in August. Following three consecutive monthly gains, wholesale sales decreased 0.3% to $52.9 billion in July.
Wednesday, October 22, 2014 BoC Rate Announcement: 9:00am -- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1 1/4% and the deposit rate is 3/4%. The Bank of Canada maintains its target for the overnight rate at 1%.
Wednesday, October 22, 2014 Retail Trade: 8:30am Aug Retail sales declined 0.3% in August to $42.4 billion. This second consecutive monthly decrease follows gains in the six previous months. Following six consecutive monthly gains, retail sales paused in July, edging down 0.1% to $42.5 billion.
Thursday, October 23, 2014 Employment Insurance: 8:30am Aug Following a decrease in July, the number of people receiving regular Employment Insurance benefits in August was essentially unchanged, at 498,100. Compared with 12 months earlier, the number of beneficiaries fell by 18,800 or 3.6%. The number of people receiving regular Employment Insurance benefits in July totaled 499,300, little changed from the previous month. Compared with 12 months earlier, the number of beneficiaries decreased 2.9% or 14,900.
Wednesday, October 29, 2014 Industrial Product Price Index: 8:30am Sept The Industrial Product Price Index decreased 0.4% in September, mainly because of lower prices for energy and petroleum products. The Industrial Product Price Index increased 0.2% in August, mainly because of higher prices for motorized and recreational vehicles.
Wednesday, October 29, 2014 Raw Materials Price Index: 8:30am Sept The Raw Materials Price Index declined 1.8% in September, largely as a result of lower prices for crude energy products. The Raw Materials Price Index declined 2.2%, largely as a result of lower prices for crude energy products.
Friday, October 31, 2014 GDP: 8:30am Aug Real gross domestic product declined 0.1% in August, following no growth in July and increases in the first six months of the year. Real gross domestic product was essentially unchanged in July, following six consecutive monthly gains.
<![CDATA[Harper to bring in new family tax cut]]>Fri, 31 Oct 2014 12:00:00 EST to bring in new family tax cut

Prime Minister Stephen Harper has announced a new "family tax cut," a version of the family income-splitting promise he made during the 2011 federal election, along with increases to monthly child care benefit cheques and to the amount taxpayers can deduct for child care expenses.

The tax cut comes in the form of a non-refundable federal tax credit — meaning it will have no effect on provincial income taxes — and is capped at $2,000.

Harper made his announcement at a campaign-style event Thursday at a community centre north of Toronto. He was joined by Finance Minister Joe Oliver and other Conservative MPs, including several from the Toronto area.

The prime minister also announced a boost to the universal child care benefit, to $160 a month per child up to age six from the current $100 per month, and is introducing a credit of $60 per month for children aged six to 17 years.

The new benefits go into effect on Jan. 1, 2015, but the government will wait until July to make the first payments and make them retroactive.

That means every Canadian family with children under 18 is set to receive $420 per child just three months ahead of the next scheduled federal election — plus regular monthly cheques as the campaign nears.

The enhanced UCCB would replace the existing Child Tax Credit, starting in the 2015 tax year. The Child Tax Credit is a non-refundable tax credit which allows parents to claim a certain amount per child under the age of 18.

Harper's 2011 promise on income splitting was contingent on a balanced budget, a goal that will officially be met with next spring's budget and one that many observers believe is already a fact.

The 2011 proposal promised couples the ability to transfer up to $50,000 from one spouse or partner to the other to take advantage of lower tax brackets, a move the government projected would cost $2.7 billion per year.

<![CDATA[Japan stocks surge on easing]]>Fri, 31 Oct 2014 12:00:00 EST, October 31, 2014

Japan stocks surge on easing

Japanese stocks soared to a seven-year high, as the Bank of Japan unexpectedly boosted easing and the nation’s pension fund prepared to unveil new asset allocations.

In Tokyo, the Nikkei 225 leaped 755.56 points, or 4.8%, to 16, 431.76, the highest since Nov. 2, 2007.

In Hong Kong, the Hang Seng index regained 296.02 points, or 1.3%, to 23,998.06.

Shares rose in the morning session after a Nikkei newspaper report that the $1.2-trillion U.S. Government Pension Investment Fund would announce new portfolio targets today, more than doubling its goal for domestic shares to 25% of assets. They surged in the afternoon after BOJ policy makers voted 5-4 to target an 80-trillion yen ($726-billion U.S.) annual expansion in the central bank’s monetary base.

The U.S. dollar rose to as high as ¥111.54 in Asia trade, its strength a boon for Japanese exporters because it makes goods sent overseas cheaper for foreign buyers. Late Friday in Asia, it traded near its level in January 2008, and was at ¥111.43, compared with ¥109.22 late Thursday in New York.

Real-estate and financial services companies led gains as all but one of the 33 industry groups on the Topix climbed.

Exporters and banks jumped. Toyota Motor Corp., the carmaker that gets 75% of sales abroad, surged 3.8%. Mitsubishi UFJ Financial Group Inc., Japan’s largest lender, gained 4% and Sumitomo Mitsui Financial Group Inc. rose 7.2%.


Shanghai’s CSI 300 index gained 39.40 points, or 1.6%, to 2,508.33, thanks to strong bank earnings. Bank of China Ltd. was up 0.8% after it said that its third-quarter net profit rose 5% on-year, and Agricultural Bank of China jumped 0.8% after the lender announced a 6% gain in net profit over the same period.

In other markets;

Singapore’s Straits Times Index picked up 39.94 points, or 1.2%, to 3,274.25

The Taiex index in Taiwan zoomed 86.69 points, or 1%, to 8,974.76

Korea’s Kospi index moved higher 5.50 points, or 0.3%, to 1,964.43

New Zealand’s Exchange 50 added 17.65 points, or 0.3%, to 5,387.83

Australia’s S&P/ASX 200 gained 50.40 points, or 0.9%, to 5,526.60

<![CDATA[Japan's central bank shocks markets]]>Fri, 31 Oct 2014 12:00:00 EST Bank of Japan shocked global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April.

BOJ Governor Haruhiko Kuroda portrayed the board's tightly-split decision to buy more assets as a preemptive strike to keep policy on track, rather than an admission that his plan to reflate the long moribund-economy had derailed.

But some economists wondered if pushing even more money into the financial system would be effective as long as consumer confidence continues to worsen and demand remains weak.

The jolt from the BOJ, which had been expected to maintain its level of asset purchases, came as the government signaled its readiness to ramp up spending to boost the economy and as the government pension fund, the world's largest, was set to increase purchases of domestic and foreign stocks.

"We decided to expand the quantitative and qualitative easing to ensure the early achievement of our price target," Kuroda told a news conference, reaffirming the BOJ's goal of pushing consumer price inflation to 2% next year.

Kuroda said the BOJ's easing was unrelated to major portfolio changes by the Government Pension Investment Fund (GPIF) also announced on Friday, but the effect of the day's two major decisions means that the central bank will step up its buying of Japanese government bonds, offsetting the giant pension fund's increased sales of them.

The BOJ's move stands in marked contrast with the Federal Reserve, which on Wednesday ended its own "quantitative easing," judging that the U.S. economy had recovered enough to dispense with the emergency flood of cash into its financial system.

In a rare split decision, the BOJ's board voted 5-4 to accelerate purchases of Japanese government bonds so that its holdings increase at an annual pace of 80 trillion yen ($723.4 billion U.S.), up by 30 trillion yen.

The central bank also said it would triple its purchases of exchange-traded funds (ETFs) and real-estate investment trusts (REITs) and buy longer-dated debt, sending Tokyo shares soaring and prompting a sharp selloff in the yen.

<![CDATA[IPO Center - TSX-V]]>Mon, 13 Jan 2014 12:00:00 EST Company Name Ticker Date RepliCel Life Sciences Inc. RP 13-01-2014 Cleantech Capital Inc. YES.P 14-01-2014 Jet Metal Corp. JET 20-01-2014 Reliance Resources Limited RI 22-01-2014 West African Resources Limited WAF 24-01-2014 Westcap Investments Corp. WI 12-02-2014 Sonde Resources Corp. SOQ 19-02-2014 QMX Gold Corporation QMX 20-02-2014 Knight Therapeutics Inc. GUD 28-02-2014 PC Gold Inc. PKL 11-03-2014 Silver Predator Corp. SPD 13-03-2014 Baja Mining Corp. BAJ 17-03-2014 IOU Financial Inc. IOU 17-03-2014 Rockefeller Hughes Corporation RHC 20-03-2014 Chrysalis Capital IX Corporation NYN 28-03-2014 Northern Sun Mining Corp. NSC 16-04-2014 Cliffside Capital Ltd. CEP 17-04-2014 Till Capital Ltd. TIL 24-04-2014 Redzone Resources Ltd. REZ 28-04-2014 Alabama Graphite Corp. ALP 05-05-2014 Jaguar Financial Corporation JFC 21-05-2014 Lingxian Capital Inc. LXC.P 23-05-2014 Tribute Pharmaceuticals Canada Inc. TRX 27-05-2014 Dataminers Capital Corp. DMC.P 29-05-2014 Transeastern Power Trust TEP.DB 02-06-2014 X-Terra Resources Inc. XTT 03-07-2014 Starlight U.S. Multi-Family (No.3) Core Fund SUS.UN 09-07-2014 Searchtech Ventures Inc. MJN.P 16-07-2014 Whiteknight Acquisitions III Inc. WKA 21-07-2014 Petro-Victory Energy Corp. VRY 24-07-2014 Geovic Mining Corp. GMC 28-07-2014 01 Communique Laboratory Inc. ONE 31-07-2014 Leucrotta Exploration Inc. LXE 19-08-2014 Cluny Capital Corp CLN 20-08-2014 Maestro Capital Corporation MCP 21-08-2014 Manera Capital Corp. MEA 28-08-2014 Mediterranean Resources Ltd. MNR 02-09-2014 Eastwood Bio-Medical Canada Inc. EBM 05-09-2014 Orletto Capital Inc. OLE 09-09-2014 Rodeo Capital III Corp. ROP 17-09-2014 Mira IV Acquisition Corp. MRY 24-09-2014 Xander Resources Inc. XND 25-09-2014 Maple Peak Investments Inc. MAP.P 01-10-2014 Campar Capital Corporation CHK 24-10-2014 Niocan Inc. NIO 28-10-2014]]><![CDATA[ BofJ moves lift markets worldwide]]>Fri, 31 Oct 2014 12:00:00 EST, October 31, 2014

00:40 PM EST
BofJ moves lift markets worldwide

IT leads pack

The Toronto stock market took off like a rocket Friday after the Bank of Japan unexpectedly expanded a key stimulus program aimed at boosting the world's third-largest economy.

The S&P/TSX composite index leaped 111.89 points to pause for lunch at 14,570.58

The Canadian dollar dropped 0.77 cents to 88.62 cents U.S.

A decline the price of gold, and earnings misses by some of the big miners, have pounded the Toronto gold sector over the last few days -- it's down 12% this week alone.

December crude fell but December copper partially reversed Thursday's four-cent decline and moved up two cents to $3.08 U.S. a pound.

It was quiet on the corporate front following a heavy slate of earnings news this week.

TransForce Inc., one of Canada's largest trucking and logistics groups, says it has received sufficient shareholder support for a $495-million cash takeover offer for the Ontario-based Contrans trucking group but continues to await a response from Canadian competition authorities.

The Montreal-based company says it has been in discussions with the Competition Bureau and expects the 30-day waiting period will expire on Wednesday. As a result, TransForce has extended the offer deadline to Nov. 11.

The Bank of Japan's board voted five to four to accelerate purchases of Japanese government bonds, increasing its holdings at an annual pace of 80 trillion yen ($723.4 billion U.S.), while tripling its purchases of exchange-traded funds and real-estate investment trusts.

On the economic front, Statistics Canada reported this morning that August’s gross domestic product declined 0.1% in August, following no growth in July and increases in the first six months of the year.

The agency blames oil and gas extraction and manufacturing for much of the August decrease.

Thursday, Prime Minister Stephen Harper unveiled $26.76 billion in family tax cuts and benefits over six years, which will start flowing to voters over the coming year as the country gears up for an election next October.


The TSX Venture Exchange slumped 10.39 points to 761.20

All but three of the 14 Toronto subgroups were higher midday, led by information technology, soaring 2.7%, while health-care and consumer staples each popped 1.6%.

The three laggards were gold, sliding 3.7%, materials, down 0.9%, and utilities, off 0.5%.


U.S. stocks surged on Friday, lifting the Dow industrials and S&P 500 above their record closes, after the Bank of Japan unexpectedly expanded stimulus, increasing hopes for the global economy.

The Dow Jones Industrials hiked 158.97 points to 17,355.29, a fresh new intraday record.

The S&P 500 gained 17.75 points to 2,012.40. The NASDAQ index moved higher 54 points to 4,620.13.

LinkedIn gained after the online professional network reported third-quarter sales that beat expectations.

GoPro rose after its fourth-quarter profit outlook topped estimates

Citigroup gained after reporting a $600 million U.S. legal hit; Starbucks dropped after the coffee retailer tallied quarterly revenue that disappointed, and Exxon Mobil rose after reporting a 3% increase in quarterly profit.

Equities offered muted reaction to Friday data that had U.S. consumer spending unexpectedly falling in September, a gauge of manufacturing activity in the Chicago region hitting 66.2 in October, better than the estimated 60.0, and U.S. consumer sentiment rising to 86.9 in October versus an expected 86.4.

Prices for 10-year U.S. Treasuries dipped, raising yields to 2.34% from Thursday’s 2.30%. Treasury prices and yields move in opposite directions.

Oil prices lowered 97 cents to $80.15 U.S. a barrel.

Gold prices tumbled $34.20 to $1,164.30 U.S. an ounce.

<![CDATA[Stocks in Play: Banks Island Gold Ltd.]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

09:49 AM EST - Banks Island Gold Ltd. : reports that the second quarter, 2015 Financial Statements ("Q2", from June 1 to August 31) have been released. Q2 was a transitional period for the Company as production shifted to the production of flotation and gravity gold concentrates with the addition of the grinding and flotation circuits. The Dense Media Separation Plant ("DMS") plant was shut down on June 11, in order to complete the tie-in between the DMS plant and the grinding and flotation sections. Production of flotation concentrate commenced on August 7. No production from the property occurred in the period from June 11 to August 7. Banks Island Gold Ltd. (V.BOZ) shares were down $0.01 at 0.16.

<![CDATA[Stocks in Play: Strata-X Energy Ltd.]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

09:50 AM EST - Strata-X Energy Ltd. : provided an update on the Burkett 5-34 HOR well, located in Clay County, Illinois. As previously announced an electrical submersible pump has been working to reduce the fluid level on the Lingle formation in order to draw the hydrostatic pressure down in the well to a point where the Lingle reservoir can produce oil more effectively. This process often takes time until the full results are known but the well is showing improvement in both terms of total oil rate and oil cut (a percentage of oil to the overall fluid produced). Strata-X Energy Ltd. (V.SXE) shares were unchanged at 0.17.

<![CDATA[Stocks in Play: Hyduke Energy Services Inc.]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

09:51 AM EST - Hyduke Energy Services Inc. : announced that, in respect of the signing of a Letter of Intent for the sale of its shares in its 100%-owned subsidiary, Hyduke Machining Solutions, the agreement has been terminated. Hyduke and the undisclosed buyer were unable to agree upon certain terms of the agreement. Hyduke Energy Services Inc. (T.HYD) shares were unchanged at 0.8.

<![CDATA[Stocks in Play: Ritchie Bros. Auctioneers]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

09:52 AM EST - Ritchie Bros. Auctioneers : sold more than $109 million of heavy equipment and trucks in Edmonton this week. The unreserved public auction set new records for most items ever sold in a Canadian auction (close to 6,700) and most gross auction proceeds generated by an auction held in Canada in October. Ritchie Bros. Auctioneers (T.RBA) shares were up $0.26 at 27.4.

<![CDATA[Stocks in Play: Pattern Energy Group Inc.]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

11:41 AM EST - Pattern Energy Group Inc. : announced its financial results for the third quarter of 2014. Highlights: Cash available for distribution was $10.9 million, up 73%. Adjusted EBITDA was $44.3 million, up 39%. Revenue was $71.5 million, up 25%. Pattern Energy Group Inc. (T.PEG) shares were down $0.06 at 32.65.

<![CDATA[Stocks in Play: Amaya Gaming Group Inc. ]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

11:42 AM EST - Amaya Gaming Group Inc. : announced today that its gaming brands including PokerStars and Full Tilt have obtained a continuation license to allow uninterrupted service to consumer and business customers in the United Kingdom. Amaya Gaming Group Inc. (T.AYA) shares were up $0.56 at 34.6.

<![CDATA[Stocks in Play: Roxgold Inc.]]>Fri, 31 Oct 2014 09:49:10 EST, October 31, 2014

11:43 AM EST - Roxgold Inc. : confirmed that its activities on the Yaramoko Gold Project, located approximately 180 kilometres southwest of Burkina Faso's capital city of Ouagadougou, currently remain unaffected by recent civil unrest. All company personnel are safe and have been accounted for. Roxgold Inc. (V.ROG) shares were up $0.56 at 34.6.

<![CDATA[OceanaGold Shares Fall to Eight Month Low on Q3 Report]]>Thu, 30 Oct 2014 04:36:22 EST, October 30, 2014

OceanaGold Shares Fall to Eight Month Low on Q3 Report

Spot gold prices floating around the $1,200 U.S. per ounce price point and increasing production costs are putting pressure on miners profit margins. Gold prices softened again on Wednesday and Thursday following the U.S> Federal Open Market Committee announcement that it is bringing to an end this month its asset purchase program, which had been tapered throughout 2014 from $85 billion U.S. per month to $15 billion U.S. in October.

Spot gold slipped 1.3% on Wednesday and slipped below $1,200 U.S. on Thursday, taking the precious yellow metal back near four-year lows. With that, gold plays continue to remain unloved, but that doesn’t mean bargain hunting investors aren’t culling through reports looking for profitable companies in the often volatile industry.

Multinational gold and copper producer OceanaGold Corp. (TSX:OGC) is New Zealand’s largest gold producer with its gold operation at the Macraes Goldfield and the Reefton Gold Mine on the west coast. To the northwest, the company’s flagship property is the Didipio Mine in the Philippines. Didipio commenced production in April 2013 and has a current mine life to 2029.

OceanaGold released its third quarter and year-to-date financial and operating results early Thursday morning showing increasing production that has the company on pace to top its full-year production and cost guidance.

Production at Didipio in the third quarter, ended September 30, was 26,207 ounces of gold and 7,078 tonnes of copper, up significantly from 18,011 ounces of gold and 6,150 tonnes of copper in the year-prior quarter. From January 1 through September 30 this year, production at Didipio has totaled 71,473 ounces of gold and 18,263 tonnes of copper, versus 38,564 ounces of gold and 15,523 tonnes of copper in the period last year.

Consolidation production from its mines was 67,352 ounces of gold and 7,078 tonnes of copper in the third quarter. Year-to-date production was 214,751 ounces of gold and 18,263 tonnes of copper. This compares to 210,513 ounces of gold and 15,523 tonnes of copper in the first nine months of 2013.

OceanaGold previously guided production of 275,000 to 305,000 ounces of gold from the combined New Zealand and Philippine operations and 21,000 to 24,000 tonnes of copper from the Philippine operations.

"Looking ahead, the Company is well on track to achieve its full year production and cost guidance. We expect a strong finish to the year where we further strengthen the balance sheet with increased cash and repayment of an additional $30 million in debt,” said Mick Wilkes, Managing Director and CEO, in a statement today.

Revenue for the third quarter was $122.84 million, down from $156.62 million in the same quarter last year. Net profit was $16.88 million, or six cents per basic share, in the recent quarter, down from $43.74 million, or 14 cents per share, in Q3 2013. The upside to the lower earnings is that OceanaGold swung back into the black after recording a net loss of $2.1 million in the second quarter.

At the end of the third quarter, the company had a cash balance of $46.8 million.

Between the pressure on the overall metal markets and the drop-off from the year prior quarter comparables, Bay Street isn’t reacting favorably to OceanaGold’s report today. As the day wound to a close, shares were down by 8.2% at $2.02, marking the eighth straight red day and lowest level for the stock since early in February after hitting a 52-week high of $3.74 in July.

<![CDATA[GDP leaves FX watchers cold]]>Fri, 31 Oct 2014 10:29:50 EST
Experts expect a range today of 1.1280 to 1.1320 Canadian

European Union Core Consumer Price Index Flash estimates dropped from 0.8% to 0.7% when the market expected a flat reading, while German Retail Sales showed a drastic drop from 1.5% to -3.2%, taking the euro down to challenge the 1.2550 Canadian level again. Unfortunately it was not enough to break and we now hover 25 basis points above this level. The euro opens at 1.4114 Canadian this morning.

Currency traders expect a range today of 1.4050 to 1.4150 Canadian

The pound is strong, up 90 bps from yesterday’s close. Housing prices were stronger than expected and helped support the pound to near -term resistance levels. The pound is currently trading at 1.8007 Canadian.

The Australian dollar is essentially strong, up 15 bps from yesterday’s close. Producer Price Index and Private Sector Credit Reports printed better than expected at 0.2% and 5.4% respectively, but was mainly ignored by the market as little to no change occurred. The Aussie is currently trading at 0.9904 Canadian.

The New Zealand dollar is strong, up 25 bps from yesterday’s close. Even though September’s Building Permits were much weaker than expected, printing at -12.2% rather than the 1.0% that was expected, the kiwi seemed to have gain overnight peaking to 0.8843. The kiwi is currently trading at 0.88 Canadian.

Data Releases


AUD: No data

EUR: CPI + Unemployment Rate + German Retail Sales

GBP: No data

JPY: No data

NZD: No data

USD: University of Michigan Confidence]]>
<![CDATA[WisdomTree Investments (WETF) leaps on earnings]]>Fri, 31 Oct 2014 11:01:32 EST<![CDATA[Sarepta Therapeutics (SRPT) gains on FDA letter]]>Fri, 31 Oct 2014 11:00:01 EST]]><![CDATA[Citigroup (C) with slight gains as earnings slide]]>Fri, 31 Oct 2014 10:57:58 EST<![CDATA[LinkedIn (LNKD) leaps despite Q3 loss]]>Fri, 31 Oct 2014 10:56:23 EST<![CDATA[Starbucks (SBUX) fell as profits down]]>Fri, 31 Oct 2014 10:54:59 EST<![CDATA[GoPro (GRPO) vaults on earnings]]>Fri, 31 Oct 2014 10:53:32 EST<![CDATA[Expedia (EXPE) jumps on earnings]]>Fri, 31 Oct 2014 10:06:00 EST<![CDATA[Madison Square Garden (MSG) gains ahead of earnings]]>Fri, 31 Oct 2014 10:04:22 EST<![CDATA[Hilton Worldwide Holdings (HLT) down ahead of earnings]]>Fri, 31 Oct 2014 10:02:46 EST<![CDATA[AbbVie (ABBV) gain on Q3 earnings]]>Fri, 31 Oct 2014 10:00:46 EST