Market numbers: September 22, 2009

| North American markets | International markets | Bonds | Currency | Commodities |

North American markets looked set for a higher opening Tuesday amid hopes for a strong economic rebound.

The Dow Jones industrial futures headed 64 points higher to 9,782, the Nasdaq moved up 10.75 points to 1,738.5 and the S&P 500 futures advanced 7.7 points to 1,068.1.

Canadian conglomerate Onex Corp. (TSX:OCX) will be in focus on the TSX market after the company announced it will reduce its stake in Celestica Inc. (TSX:CLS) but retain control of the Toronto-based global manufacturing company.

Onex says it will sell 11 million subordinate voting shares of Celestica at $10.30 each to a syndicate lead by CIBC for gross proceeds of $113.3 million. Celestica shares closed Monday at $10.53.

Higher oil prices will likely support the Toronto stock market as the October crude contract on the New York Mercantile Exchange rose $1.07 to US$70.78 a barrel.

The Canadian dollar was up 0.85 of a cent to 93.66 cents US.

Stock markets in Toronto and New York racked up minor losses on Monday as investors regrouped after sending indexes higher last week.

With stocks up more than 50% since bottoming in March, analysts have been calling for a pullback, warning that uninterrupted gains are unsustainable. But such a pullback, they say, doesn’t have to be significant. For weeks, any dips in stocks have been moderate and short-lived.

Mining stocks could benefit from higher prices as the December bullion contract on the Nymex rose $11.60 to US$1,016.50 an ounce while December copper moved ahead six cents to US$2.87 a pound.

Also in the commodity sector, HudBay Minerals Inc. (TSX:HBM) says it has found evidence of a major new copper-gold zone near its Snow Lake concentrator in the Flin Flon area of northern Manitoba. HudBay chief executive Peter Jones said in a statement that the copper and gold contained in one of the drill holes is "among the best I have seen in nearly 40 years in the mining business and the new Copper-Gold zone may be very significant.”

Investors will be looking for more signals from the government on the strength of a recovery as the U.S. Federal Reserve begins a two-day rate-setting meeting on Tuesday.

The Fed is widely expected to keep rates at their record low of near zero for the time being.

European stock markets followed Asia higher on Tuesday after the Asian Development Bank upgraded its growth forecasts for major economies like China and India and said the region is leading a global recovery.

In early afternoon trading in Europe, Britain’s FTSE 100 and the Paris CAC 40 were 0.87% higher and Germany’s DAX rose 1.26%.

The Asian Development Bank raised its growth estimates for much of the region – including heavyweights China and India – but warned against exiting from stimulus efforts too quickly.

Hong Kong’s Hang Seng added 1.1% while China’s Shanghai market fell 2.3%.

Markets in Japan, Indonesia and Malaysia were closed for public holidays.

(The Canadian Press)

North American markets

Back to Top

Dow Jones	9,778.86	-41.34 or -0.42%	+11.42%
S&P 500	1,064.66	-3.64 or -0.34%	+17.87%
NASDAQ	2,138.04	+5.18 or +0.24%	+35.57%
TSX Composite	11,424.61	-21.34 or -0.19%	+27.71%

International markets

Back to Top

	Open	Change	YTD
Nikkei	10,370.54	-73.26 or -0.70%	+17.05%
Hang Seng	21,701.14	+228.29 or +1.06%	+50.83%
SENSEX	16,886.43	+145.13 or +0.87%	+75.04%
FTSE 100	5,177.66	+43.30 or +0.84%	+16.77%
CAC 40	3,841.86	+29.70 or +0.78%	+19.39%
DAX	5,736.52	+67.87 or +1.20%	+19.26%

Bonds

Back to Top

Bonds	$Current	$Previous	%Yield
Cdn. 10-year bond	102.83	102.94	3.40
Cdn. 30-year bond	118.09	118.39	3.92
U.S. 10-year bond	101.30	101.30	3.47
U.S. 30-year bond	104.64	104.69	4.22

Currency

Back to Top

BoC Open	Today	Previous
Canadian $	0.9366	0.9271
US $	1.0676	1.0786

Euro Spot Rate	Today	Previous
Canadian $	0.6315	0.6317
Euro	1.5834	1.5831

Commodities

Back to Top

Gold	AM	PM
London Gold Fix ($US)	$ 1015.75	$997.00

Oil	Open	Change
WTI Crude Future (US)	$71.25	+$1.54 or +2.21%

(09/22/09)