BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2015 Baystreet.ca Inc. All rights reserved. 7/7/2015 4:54:33 AM <![CDATA[Canadian REIT "SECTOR PERFORM"]]>Mon, 06 Jul 2015 07:52:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?22342<![CDATA[Losing streak continues for gold futures]]>Fri, 26 Jun 2015 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=593Friday, June 26, 2015


Losing streak continues for gold futures


Gold futures threatened to post a sixth straight decline Friday as several reports of a possible bailout extension for Greece weighed on the yellow metal.

Futures for gold were switching between modest gains and losses in electronic trading as investors attempted to parse a series of unconfirmed reports suggesting that Greece’s international creditors are considering granting an extension of the country’s bailout program.

Greece has been given a Monday deadline to reach an economic-reform agreement with its creditors ahead of key repayment due next week.

Gold futures August delivery on were down $2.20, at $1,169 U.S. an ounce. On Thursday. the metal settled at $1,171.80 U.S., which marked a fifth consecutive slide for gold and its lowest settlement since June 5. Gold is on pace to post a 2.7% loss for the week.

September silver was down 12 cents, or 0.8%, at $15.69 U.S. an ounce, on track for a 2.6% weekly decline.

The back-and-forth talks in Greece have provided support for gold buyers because investors view the metal as a haven investment in times of uncertainty.

On the data front Friday, gold traders were watching for a fresh reading on U.S. consumer sentiment, which rang in at 96.1 Friday morning. Economists had expected a reading of 94.6.

Prices also are being influenced by the dollar, which was showing some signs of strength amid the debt talks playing out in Europe. The ICE U.S. Dollar Index, a measure of the dollar’s strength against a basket of six main currencies, was up about 0.2% in early trade at 95.3770. A strong dollar can weigh on dollar-denominated gold.

In other metals, September copper was up a penny, or 0.6%, at $2.64 U.S. a pound, leaving the industrial metal little changed on the week.

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<![CDATA[Cisco to buy OpenDNS]]>Tue, 30 Jun 2015 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=564Tuesday, June 30, 2015

Cisco to buy OpenDNS


Cisco Systems Inc (NASDAQ: CSCO) said on Tuesday it would buy OpenDNS, a privately held cloud-based security company, for $635 million U.S. in cash and equity awards to beef up its security business.

Cisco has been buying a number of security companies to boost the business in the face of fast-growing, sophisticated cyber attacks.

OpenDNS provides network security service that block attacks, as well as malware, botnets and phishing threats. Cisco was part of a group that invested $35 million U.S. in OpenDNS in May last year.

The acquisition of San Francisco-based OpenDNS is expected to close in the first quarter of fiscal year 2016, Cisco said in a statement.

Cisco bought security advisory firm Neohapsis for an undisclosed sum this year and malware analysis company ThreatGRID in 2014.

The global cybersecurity market is estimated to grow to $170.21 billion by 2020 from $106.32 billion in 2015, according to market research firm MarketsandMarket.

Cisco shares opened Tuesday trading down two cents to $27.52 U.S., in a 52-week trading range of $22.49 U.S. to $30.31 U.S.

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<![CDATA[Economic Calendar]]>Tue, 07 Jul 2015 04:54:33 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125July 2015
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Thursday, July 02, 2015 RBC Manufacturing PMI: 9:30am June The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 51.3 last month from 49.8 in May. The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, edged up to a seasonally adjusted 49.8 last month from 49.0 in April.
Monday, July 06, 2015 IVEY Purchasing Managers Index: 10:00am June The Ivey Purchasing Managers Index (PMI) by the end of June 2015 stood at 55.9. The corresponding Ivey PMI figure for May 2015 was 62.3, for June 2014 was 46.9 and for June 2013 was 55.3. Western University revealed that its Ivey Purchasing Managers Index stood at 62.3 last May, compared to 58.2 in April, and 48.2 in May 2014.
Tuesday, July 07, 2015 Canadian International Merchandise Trade: 8:30am May --- Canada's imports declined 2.5% in April and exports were down 0.7%. As a result, Canada's merchandise trade deficit with the world narrowed from $3.9 billion in March to $3 billion in April.
Wednesday, July 08, 2015 Building Permits: 8:30am May --- Contractors took out $7.8 billion worth of building permits in April, up 11.6% from the previous month and a second consecutive monthly advance.
Thursday, July 09, 2015 New Housing Price Index: 8:30am May --- The New Housing Price Index rose 0.1% in April, following no change in March.
Thursday, July 09, 2015 Housing Starts: 8:15am June --- Canadian Mortgage and Housing Corp said the seasonally adjusted annualized rate of housing starts rose to 201,705 units in May from an upwardly revised 183,329 in April. Forecasters had expected 185,000 starts.
Friday, July 10, 2015 Labour Force Survey: 7:00am June --- Employment increased by 59,000 in May, driven by gains in the number of private sector employees. The number of people participating in the labour market also rose in May, leaving the unemployment rate unchanged at 6.8% for the fourth consecutive month.
Wednesday, July 15, 2015 Monthly Survey of Manufacturing: 8:30am May --- Statistics Canada reported that manufacturing sales in April fell 2.1% to $49.8 billion, the third decline in four months.
Wednesday, July 15, 2015 CREAstats - MLS Sales: 8:30am June --- The Canadian Real Estate Association reported this morning that national home sales activity rose 3.1% from April to May, a fourth consecutive month-over-month increase. CREA also said actual (not seasonally adjusted) activity stood 2.7% above May 2014 levels.
Thursday, July 16, 2015 Canada's International Transactions in Securities: 8:30am May --- Foreign investors purchased Canadian securities for a fourth straight month in April, adding $12.9 billion to their holdings. At the same time, Canadian investment in foreign securities resumed with acquisitions totaling $6.6 billion in the month, mainly non-US foreign securities.
Friday, July 17, 2015 Consumer Price Index: 7:00am June --- The Consumer Price Index rose 0.9% in the 12 months to May, after increasing 0.8% in April. On a seasonally-adjusted monthly basis, the Consumer Price Index increased 0.4% in May, following a 0.1% decline in April.
Monday, July 20, 2015 Wholesale Trade: 8:30am May --- Wholesale sales rose 1.9% to $55.2 billion in April, a second consecutive increase. Sales were up in four of seven sub-sectors, led by the motor vehicle and parts sub-sector.
Thursday, July 23, 2015 Retail Trade: 8:30am May --- Following gains in February and March, retail sales edged down 0.1% in April to $42.5 billion.
Thursday, July 23, 2015 Employment Insurance: 8:30am May --- There were 521,300 people receiving regular Employment Insurance benefits in April, little changed from March (+0.5%) and compared with 12 months earlier (-0.4%).
Tuesday, July 28, 2015 Industrial Product Price Index: 8:30am June --- The Industrial Product Price Index increased 0.5% in May, mainly because of higher prices for energy and petroleum products
Tuesday, July 28, 2015 Raw Materials Price Index: 8:30am June --- The Raw Materials Price Index increased 4.4%, largely as a result of higher prices for crude energy products.
Friday, July 31, 2015 GDP: 8:30am May --- Real gross domestic product edged down 0.1% in April, the fourth consecutive monthly decline. A decrease in the output of goods-producing industries outweighed an increase in service industries.
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<![CDATA[Ivey PMI backtracks from high]]>Mon, 06 Jul 2015 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1401Ivey PMI backtracks from high


Canada’s Ivey Purchasing Managers' Index came off its high reached in the previous month, but still expanded in June.

The gauge was at 55.9, where a reading above 50 indicates growth in purchasing activity. The slower growth follows a surge to a 19-month high, when 62.3 was reached in May.

Analysts had estimated to see the pace ease to 56 during the sixth month of the year.

The PMI, which is released by the Richard Ivey School of Business at Western University, measures monthly changes in economic activity based on a panel of purchasing managers from across Canada.

It includes the public and private sectors and consists of five categories: purchases, employment, inventories, supplier deliveries and prices.

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<![CDATA[Greek vote sends Asia plummeting]]>Mon, 06 Jul 2015 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2154Monday, July 06, 2015

Greek vote sends Asia plummeting



Stocks in Hong Kong tumbled after Greeks rejected bailout terms, while China’s shares stabilized amid Beijing’s efforts to prop up markets.

In Tokyo, the Nikkei 225 index dumped 427.67 points, or 2.1%, to 20,112.12

In Hong Kong, the Hang Seng Index collapsed 827.83 points, or 3.2%, to 26,236.28, its worst one-day performance since 2012. The index is down 11.3% since its April high, entering correction territory, defined as a drop of more than 10%. A gauge of Hong Kong-listed Chinese companies, known as H-shares is down 3.6%. Hong Kong had largely avoided the roller-coaster trading that wiped out about $2.4 trillion in value from Chinese shares during a three-week decline.

Investors whisked the most capital out of China via the Stock Connect than on any day since the trading link between Hong Kong and Shanghai launched in November. A total of 12.5 billion yuan ($2.01 billion U.S.) was withdrawn over the course of the trading day.

Asian shares also are lower after results of Greece’s referendum Sunday show a victory for the “no” campaign, which rejected austerity policies set out by the euro-zone and the International Monetary Fund. Creditors have said the outcome imperils future compromise and puts Greece closer to leaving the currency bloc.

The euro sank 0.6% to $1.1053 U.S. and fell 0.8% against the Japanese yen as investors sought safer assets. The yen rose 0.2% against the dollar. Gold prices rose 0.2% to $1,166.20 U.S. per troy ounce, while Brent crude futures dropped 1% to $59.69.

CHINA

In China, the CSI 300 moved up 112.52 points, or 2.9%, to 3,398.54

China’s indexes also cooled after an initial spike earlier Monday, off more than a quarter from highs reached in June.

Chinese officials have turned to an array of tools to prop up the market in recent days: from encouraging stock buying with borrowed money to rallying state-affiliated firms to invest. Now, China’s central bank indirectly will help investors borrow to buy shares and regulators over the weekend also agreed to halt all new initial public offerings.

Late Sunday, the top securities regulator said the People’s Bank of China would “provide liquidity assistance” to China Securities Finance Corp., a company owned by the stock regulator. The company will use the money to lend to brokerages, which could then make loans to investors to buy stocks. It marks the first time central-bank funds will be directed to institutions other than banks.

Earlier in the weekend, China’s big state-controlled securities firms, mutual funds and a unit of China’s giant sovereign-wealth fund also pledged to buy shares. The Securities Association said that 21 brokerages pledged to try to increase investments in the stock market as long as the Shanghai Composite Index stays below 4,500.

In other markets

The Taiex index in Taiwan ditched 102.27 points, or 1.1%, to 9,255.96

In Korea, the Kospi index slid 50.48 points, or 2.4%, to 2,053.93

In Singapore, the Straits Times Index let go of 9.79 points, or 0.3%, to 3,332.94

The NZX 50 subtracted 64.27 points, or 1.1%, to 5,776.63

The ASX 200 Index stepped back 63.29 points, or 1.1%, to 5,475

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<![CDATA[Greek finance minister quits]]>Mon, 06 Jul 2015 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1407Greece and its membership in Europe's joint currency faced an uncertain future Monday, with time pressing for the country to reach a bailout deal with creditors after Greeks resoundingly rejected the notion of more austerity in exchange for aid.

With Greek banks running out of cash and facing the danger of collapse within days without new aid, the government in Athens is racing against the clock.

In an effort to facilitate negotiations on a new aid program Finance Minister Yanis Varoufakis, who had clashed with European officials in the bailout talks, announced his resignation Monday.

But Greece and its creditors, who will meet again Tuesday to discuss how to keep the country in the euro, remain far apart on key issues, particularly the notion of debt relief.

The negotiations are complicated for the European creditors by Prime Minister Alexis Tsipras' triumph in Sunday's referendum. More than 61% of Greeks backed his call to vote "no" to budget cuts the creditors had proposed in return for rescue loans the country needs — even though those proposals were no longer on the table.

The vote was painted by opposition parties and many European officials as one on whether Greece should remain in Europe's joint currency. In the aftermath, many officials softened their tone and said talks would resume, though Greece's chance of staying in the euro was looking increasingly shaky.

The country's banks remain shut for a sixth working day, as the government tries to limit a drain of deposits despite limits on cash withdrawals at ATMs.

All eyes now turn to whether the European Central Bank will increase the amount of credit the banks can draw on to make up for the cash drain. Analysts expect the ECB to not provide more emergency assistance on Monday, meaning Greece might have to tighten its limits on cash withdrawals and transfers from the current 60 euros ($84) per day.

If the ECB does not increase its help to the banks, it will be impossible for Tsipras to keep his pledge to quickly restore Greece's banking system.

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<![CDATA[IPO Center - TSX-V]]>Thu, 25 Jun 2015 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date MacArthur Minerals Limited MMS 25-06-2015 CohBar Inc. COB 06-01-2015 Riley Resources Corp. RLY.P 08-01-2015 POCML 3 Inc. PWR 15-01-2015 Essa Pharma Inc. EPI 27-01-2015 Carlaw Capital V Corp. CVC 05-02-2015 Lupaka Gold Corp. LPK 18-02-2015 Arch Biopartners Inc. ACH 23-02-2015 LL Capital Corp. LLA.P 04-03-2015 San Angelo Oil Limited SAO 10-03-2015 Aequus Pharmaceuticals Inc. AQS 17-03-2015 Zincore Metals Inc. ZNC 31-03-2015 Dominion General Investment Corporation DIC.P 27-03-2015 EQ Inc. EQ 31-03-2015 Starlight U.S. Multi-Family (No.4) Core Fund SUF 14-04-2015 Tidewater Midstream and Infrastructure Ltd. TWM 15-04-2015 Titanium Transportation Group Inc. TTR 16-04-2015 Mira VII Acquisition Corp. MVA 23-04-2015 Vier Capital Corp. VIE 30-04-2015 BitGold Inc. XAU 13-05-2015 Novo Resources Corp. NVO 27-05-2015 Flying Monkey Capital Corp. FMK 12-06-2015 Shoal Games Ltd. SGW 02-07-2015 Quinsam Opportunities I Inc. QOP.P 03-07-2015]]><![CDATA[Stocks falter on Greek fears]]>Mon, 06 Jul 2015 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=4375Monday, July 06, 2015

04:31 PM EST
Stocks falter on Greek fears

Metals fall, real-estate builds up




North American markets were lower in the wake of Sunday's strong “No” vote in the Greek debt referendum and a big drop in oil prices.

The S&P/TSX composite index dropped 88.82 points to conclude Monday at 14,593.57

The Canadian dollar faltered 0.52 cents to 79.02 cents U.S.

Base metals took the biggest thrashing on the day, with Thompson Creek Metals tumbling 9.5 cents, or 9.8%, to 87.5 cents, and Taseko Mines falling two cents, or 3.1%, to 63 cents.

Energy stocks also got bruised, as Bankers Petroleum slid 29.5 cents, or 10.1%, to $2.62, and Baytex Energy swooned $1.17, or 6.3%, to $17.52.

Attempting to counter this downward movement were real-estate stocks, headed by FirstService Corp., positive by $1.69, or 4.7%, to $37.68, while Allied Properties REIT climbed $1.40, or 4%, to $36.80.

Gold stocks also shone brighter, as Alacer Gold added 13 cents, or 4.6%, to $2.98, and NovaGold Resources gained 15 cents or 3.6%, to $4.33.

On the economic beat, the Bank of Canada reported a slight overall improvement in optimism among Canadian business in its summer outlook survey.

But as in other recent surveys, pessimism in oil-producing provinces was a counterweight to the improved outlook in non-oil producing regions, including the manufacturing centres of Central Canada.

Elsewhere, Western University’s IVEY Purchasing Managers’ Index registered 55.9 for June, compared to 62.3 for May, and 46.9 for June of last year.

The survey of company purchasing managers gauges how much was spent on purchases during the month, compared to previous timeframes. Any reading over 50 shows an increase in purchases; under 50, a decrease.

ON BAYSTREET

The TSX Venture Exchange moved downward 7.25 points to finish Monday at 663.33.

Nine of the 14 TSX subgroups were lower on the day, with metals and mining collapsing 2.4%, energy retreating 2.2%, and metals and mining stocks down 2%.

The five gainers were led by gold and real-estate, each progressing 1.8%, and materials, better by 0.5%.

ON WALLSTREET

U.S. stocks closed mildly lower on Monday, recovering from sharp opening losses on selloff overseas, as traders shook off concerns of contagion from the Greece debt crisis.

The Dow Jones Industrials slid 46.53 points to 17,683.58,

The S&P 500 index slumped 7.97 points to 2,068.61,

The NASDAQ slid 17.27 points to 4,991.94.

Ahead of the unofficial start of earnings season this Wednesday, A Schulman posts results after the close.

In other corporate news, Humana agreed to be bought by rival Aetna for $37 billion U.S. in cash and stock. Humana shareholders will receive $125 U.S. in cash and 0.8375 Aetna shares for each share they now hold.

Seritage Growth Properties, the real estate investment trust created by retailer Sears Holdings, will begin trading Monday on the New York Stock Exchange. Sears said the rights offering of Seritage shares expired last Thursday and that it was oversubscribed.

Dollar Tree has received U.S. Federal Trade Commission approval to acquire rival Family Dollar Stores after a nearly year-long review. The combined company will need to divest more than 300 stores. Dollar Tree expects the deal to be completed today.

U.S. economic data out Monday includes the Institute for Supply Management's June service sector survey, which hit 56.0 in June, versus the 56.2 estimate.

Markit's services PMI for June showed a final read of 54.8.

The European Central Bank said in a Dow Jones report that it will maintain emergency liquidity assistance for Greek banks. Euro-zone leaders will meet at an emergency summit on Greece Tuesday.

German Chancellor Angela Merkel said after a meeting with French President Francois Hollande that they respect the vote of the Greeks and the door for talks with the country remains open, Reuters reported.

Last week, Greece became the first developed nation to default on a major loan from the International Monetary Fund.

Prices for 10-year U.S. Treasuries rose sharply, lowering yields to 2.29% from Thursday’s 2.39%. Treasury prices and yields move in opposite directions.

Oil prices faded $4.14 a barrel to $52.79 U.S.

Gold prices moved higher $4.10 at $1,167.60 U.S. an ounce.





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<![CDATA[Stocks in Play: Orezone Gold Corporation]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18325Monday, July 06, 2015

09:52 AM EST - Orezone Gold Corporation : has arranged a $6.5-million investment into the Company by way of a non-brokered private placement, with Ross Beaty and other long term shareholders including officers and directors of Orezone by issuing up to 21,666,667 ordinary common shares of the Company at $.30/share. The proceeds of the investment will be used to advance the Bomboré project through the ongoing mine permitting process, optimize the economics and engineering of the recently completed feasibility study, and for general corporate purposes. Orezone Gold Corporation (T.ORE) shares were up $0.02 at 0.36.

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<![CDATA[Stocks in Play: Innergex Renewable Energy Inc.]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18326Monday, July 06, 2015

09:56 AM EST - Innergex Renewable Energy Inc. : announced that its Upper Lillooet Hydro Project (ULHP) construction site in British Columbia has been impacted by a forest fire that swept through the region over the weekend. On July 4, all personnel were safely evacuated from the ULHP construction site, which comprises the Boulder Creek and Upper Lillooet River hydroelectric projects. Innergex Renewable Energy Inc. (T.INE) shares were down $0.10 at 10.56.

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<![CDATA[Stocks in Play: IAMGOLD Corporation]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18327Monday, July 06, 2015

09:57 AM EST - IAMGOLD Corporation : provided clarification regarding the vote by the Transitional Assembly on an updated Mining Code in Burkina Faso. While the Code has not yet been formalized into law, it reduces regulatory uncertainty, creates an innovative community development fund, and, importantly, respects clauses in existing Mining Conventions. As a result, IAMGOLD does not expect a material impact on its Essakane Mine, as it has fiscal stability clauses in its existing Mining Convention. IAMGOLD Corporation (T.IMG) shares were up $0.04 at 2.44.

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<![CDATA[Stocks in Play: Geomega Resources Inc.]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18328Monday, July 06, 2015

09:58 AM EST - Geomega Resources Inc. : announced the final closing of a private placement consisting of 1,294,444 units at a price of $0.18 per Unit for aggregate gross proceeds of $233,000. Considering the first tranche of the private placement, the total gross proceeds are $1,068,840. Geomega Resources Inc. (V.GMA) shares were up $0.005 at 0.17.

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<![CDATA[Stocks in Play: NioGold Mining Corp.]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18329Monday, July 06, 2015

11:31 AM EST - NioGold Mining Corp. : released the results of 50 bottle-roll leach tests on representative mineralized core samples from the Marban deposit, located on NioGold's 100% owned Marban Block property in the Malartic gold camp, Abitibi District, Quebec. NioGold Mining Corp. (V.NOX) shares were up $0.01 at 0.4.

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<![CDATA[Stocks in Play: Abitibi Royalties Inc.]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18330Monday, July 06, 2015

11:32 AM EST - Abitibi Royalties Inc. : announced that it has entered into a binding Letter of Intent with Ivars Azis to acquire a 2% net smelter royalty ("NSR") on its mineral claims, located approximately 3.5 kilometres east of Metanor Resources Inc., Bachelor mine in Québec. The mineral claims consist of 280 hectares. In exchange for the 2% NSR, Abitibi Royalties will pay the annual claim fees due in 2017 that is expected to total approximately Cdn$6,500. There is a mutual 3 year option between the Company and the Claim Holder for Abitibi Royalties to pay an amount equal to the annual claim maintenance fees required to maintain the mineral claims in good standing, in consideration for which the 2% NSR will increase by 1% for each annual payment made on behalf of the Claim Holder. Abitibi Royalties Inc. (V.RZZ) shares were unchanged at 2.99.

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<![CDATA[Stocks in Play: CCL Industries Inc. ]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18331Monday, July 06, 2015

11:33 AM EST - CCL Industries Inc. : has acquired Fritz Brunnhoefer GmbH based in Nurnberg, Germany, for a net cash purchase price of $7.8 million. The purchase price includes a manufacturing facility held in a related property company. Sales in 2014 were $8.5 million, with adjusted EBITDA of approximately $1.5 million. The new business will transition to the CCL Design trading identity over the second half of 2015. CCL Industries Inc. (T.CCL.A) shares were unchanged at 153.5.

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<![CDATA[Stocks in Play: Discovery Ventures Inc.]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18332Monday, July 06, 2015

03:31 PM EST - Discovery Ventures Inc. : has made formal application with the Ministry of Mines for a 10,000 tonne bulk mine permit on Willa Mine project. The 10,000-tonne bulk sample is recovered under a usual Notice of Work, which entails identifying all works that are proposed, along with detailed plans of the operation, including a Mine Emergency Response Plan (which covers all safety aspects and plans in case of accidents). In addition, a Metal Leaching and Acid Rock Drainage Prediction and Prevention Plan is required. These plans have been initiated by the company. Discovery Ventures Inc. (V.DVN) shares were up $0.005 at 0.17.

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<![CDATA[Stocks in Play: Kicking Horse Energy Inc.]]>Mon, 06 Jul 2015 09:52:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18333Monday, July 06, 2015

03:32 PM EST - Kicking Horse Energy Inc. : has acquired nine 100% working interest sections of Montney rights in the Kakwa area of Alberta. The New Acreage is located immediately offsetting the Company's West Kakwa acreage and within three miles of the Company's East Kakwa production block. Kicking Horse intends to spud a vertical assessment well on the New Acreage in late Q3 2015. Kicking Horse Energy Inc. (V.KCK) shares were down $0.17 at 3.53.

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<![CDATA[China’s Beijing Tairui Acquires 51% Ownership Stake In Western Potash ]]>Mon, 06 Jul 2015 03:11:00 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=992Monday, July 06, 2015

China’s Beijing Tairui Acquires 51% Ownership Stake In Western Potash




In 2013, the breakup of one of the two cartels in the potash market led to a sharp decline in prices. The big worry was that the breakup of the Belarusian Potash Company (BPC) would lead to increased competition.

So far potash prices have remained above $300 a ton mark, however, there has been pressure from major buyers such as China and India. China this year signed a supply contract much later than it normally does. This was largely because it was trying to negotiate a better price expecting increased competition.

Recently, it was reported that Potash Corp. (NYSE and TSX:POT), the world’s biggest supplier of potash, will acquire German rival K+S to boost its market share. Indeed, consolidation could be one way potash producers can defend their market share and margins. However, there has been some activity on the buyers’ side as well.

It is well known that China makes strategic investments in the natural resources sector. The country has already made significant investments in Africa and South America to ensure smooth supplies of raw materials. And now it seems

This morning, it was reported that China-based Beijing Tairui Innovation Capital Management Ltd. will invest C$80 million in Western Potash Corp. (TSE:WPX). Based in Vancouver, Canada, Western Potash is a mineral exploration company engaged in the acquisition, evaluation, exploration and development of potash mineral properties in Western

In return for the investment, Beijing Tairui has been granted a 51% stake in WPX. As per the terms of the agreement, Tairui will have the right to appoint four nominees to the Board of WPX. The transaction is expected to be completed by around August 31, 2015. Proceeds from the investment will be used for the development of pilot plant scale selective solution mining operation in accordance with the previously announced positive Scoping Study on WPX’s

With this investment, Milestone is now fully funded to go into production. The transaction still needs approval from shareholders. If WPX receives any counter offer before August 30, 2015, the company can consider it.

The news of the acquisition gave a boost to WPX shares on the Toronto Stock Exchange. The stock hit an intra-day high of C$0.34, and at last check, it was trading 3.33% higher at $0.31.

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<![CDATA[Canadian dollar looks to fall back]]>Mon, 06 Jul 2015 10:26:00 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=22347
Key data releases that may enable the market to turn its focus away from Greece are; the Ivey Purchasing Managers' Index, U.S. Institute for Supply Management Non-Manufacturing PMI (Monday), U.S. and Canadian trade balance (Tues), Canadian Building Permits, U.S. Federal Open Management Committee Minutes (Wed), Canadian June employment data and Fed Chair Janet Yellen Speaking (Fri).

Experts expect a range today for the U.S. dollar of $1.2570 to $1.2670 Canadian

The euro gapped lower on confirmation of the Greece "no" vote when markets opened last evening. There was some volatility through the Asia Pacific trading session, however, surprisingly, these gaps have been filled in and markets hover at similar levels to Friday’s close in most pairs. Signaling that the outcome was largely priced into the market and traders continue to operate in wait-and-see mode to see how the European Union and Greece work out an exit or a new credit deal. Most bets are being placed on an exit, which will take time to develop in this new framework. It's likely the EU will ensure that an exit is painful to ensure it does not have other peripheral nations knocking on the door to go it alone with their own currency. The one positive for a deal possibly coming to fruition is Greek Finance Minister Yanis Varoufakis stepping down as a preference for certain Eurogroup participants to improve talks going forward.

Observers expect a range today of $1.3875 to $1.3999 Canadian

The pound sterling is biased to the downside as the currency is under pressure on the back of Greece. Risk event this week will be Manufacturing Production (Tue) and the Bank of England Bank Rate Statement (Thu).

The Australian dollar is also trading lower this morning. Positive domestic data was largely ignored as the markets focus on Greece. Australian job advertisement is up 1.3% from previous 0.1%. The New Zealand dollar remains under pressure. The Reserve Bank of New Zealand might cut rates further as early as this month in its July meeting. The market is looking for a possible 25-basis-point cut.

Data Releases

CAD: BOC Business Outlook Survey, Ivey PMI

AUD: AIG Construction Index

EUR: German Factory Orders, Retail PMI, Sentix Investor Confidence

GBP: Housing Equity Withdrawal

JPY: Leading Indicators

NZD: NZIER Business Confidence

USD: Final Services PMI, ISM Non Manufacturing PMI, Labour Market Conditions Index]]>
<![CDATA[Top Analysts Actions: DEO, EW, TDW, ZINC, HUM ]]>Mon, 06 Jul 2015 12:53:00 ESThttp://www.baystreet.ca/articles.aspx?id=30755<![CDATA[Family Dollar Stores (FDO) flat as Dollar Tree buys]]>Mon, 06 Jul 2015 12:37:00 ESThttp://www.baystreet.ca/articles.aspx?id=30754<![CDATA[Dollar Tree (DLTR) up on FTC nod]]>Mon, 06 Jul 2015 12:36:13 ESThttp://www.baystreet.ca/articles.aspx?id=30753<![CDATA[A. Schulman (SHLM) down ahead of Q3 figures ]]>Mon, 06 Jul 2015 12:34:00 ESThttp://www.baystreet.ca/articles.aspx?id=30752<![CDATA[JD.Com (JD) slump continues ]]>Mon, 06 Jul 2015 12:32:18 ESThttp://www.baystreet.ca/articles.aspx?id=30751<![CDATA[Clean Energy Fuels (CLNE) falls after Thursday decline]]>Mon, 06 Jul 2015 12:30:45 ESThttp://www.baystreet.ca/articles.aspx?id=30750<![CDATA[Energy XXI (EXXI) continues slump]]>Mon, 06 Jul 2015 12:29:09 ESThttp://www.baystreet.ca/articles.aspx?id=30749<![CDATA[Allot Communications (ALLT) tumbles on weak Q2 guidance ]]>Mon, 06 Jul 2015 11:56:51 ESThttp://www.baystreet.ca/articles.aspx?id=30748<![CDATA[American Airlines Group (AAL) takes flight following Thursday gain]]>Mon, 06 Jul 2015 11:54:50 ESThttp://www.baystreet.ca/articles.aspx?id=30747<![CDATA[VIVUS (VVUS) gains after Thursday drop ]]>Mon, 06 Jul 2015 11:52:50 ESThttp://www.baystreet.ca/articles.aspx?id=30746