Dominion Lending Centres Clearlease Reports TSX May Struggle To Move Up Amid Falling Energy, M&A Deals
VANCOUVER, BC (June 20, 2011) Dominion Lending Centres Clearlease Reports TSX May Struggle To Move Up Amid Falling Energy, M&A Deals
Bay Street stocks may struggle to move higher Monday morning amid falling energy prices, lingering worries over the debt situation in Greece and the recent batch of M&A deals in Canada. Anxiety escalated over Greece debt situation after EU leaders decided to wait for the Greek Parliament to back further austerity measures.
U.S. stock futures were pointing to a lower open.
On Friday, the S&P/TSX Composite Index extended losses for a third session, dipping 63.18 points or 0.49 percent to 12,789.95.
The price of crude oil was lingering around its four-month low Monday morning as traders fret over the sovereign debt situation in Greece. Crude for July slipped $0.91 to $92.10 a barrel.
The price of gold edged down as the U.S. dollar was steady against a basket of currencies. Gold for August eased $3.10 to $1,536.00 an ounce, after gaining $10 in the previous week.
In the Canadian M&A patch, retail and mortgage banking services provider PNC Financial Services Group (PNC) has agreed to acquire the retail banking business of Canadian banking giant Royal Bank of Canada (RY.TO) in the southeastern U.S. for about $3.45 billion in cash and stock.
Independent electric power producer Atlantic Power Corp. (AT, ATP.TO) said it would acquire Capital Power Income L.P. (CPA_UN.TO) for C$19.40 per limited partnership unit, payable in cash or shares of Atlantic Power.
Fruit and vegetable juices maker Lassonde Industries (LAS_A.TO) said it would acquire privately owned U.S. producer of store brand fruit juices and drinks, Clement Pappas and Co., Inc., for $390 million cash.
Crescent Gold Ltd. (CRA.TO) and Focus Minerals announced that they have agreed to merge the companies by way of a conditional off-market takeover bid by Focus Minerals. Crescent Gold shareholders will get one Focus Minerals share for every 1.18 shares held, which represents a premium of 30.5 percent to Crescent Gold’s closing price on June 17, 2011.
Base and precious metals miner Mercator Minerals (ML.TO) and Creston Moly Corp. (CMS.V) stated they obtained necessary approvals for their previously announced business combination.
In other corporate news from Canada, citing strong retail performance and increasing nutrient pricing, Agrium Inc. (AGU.TO) raised its earnings outlook for the second quarter. The company now guides second quarter earnings per share in a range of $4.10 to $4.40 per share, up from the prior range of $3.38 to $3.88 per share. Analysts expect the company to earn $3.72 per share for the second quarter.
Meanwhile, base-metals miner Teck Resources (TCK_B.TO) has reduced its second quarter coal production guidance, citing lower steel production requirements due to the March 11 earthquake and tsunami in Japan. The company said it now expects coal sales at the low end of its previously announced guidance range of 5.5 million to six million tonnes.
Mineral explorer Rambler Metals and Mining Plc (RMM.L, RAB.V) posted third-quarter profit of C$193 thousand or C$0.002 per share versus loss of C$644 thousand or C$0.008 per share last year.
Environmental Waste International (EWS.V) announced that its shareholders approved all resolutions, including the proposed changes to the Company Stock Option Plan. The company said that it issued options to purchase 1.13 million common shares at an exercise price of $0.37 per share.
Media technology services company OMT Inc. (OMT.V) posted a wider first quarter net loss of $131,000 or $0.005 per share compared to $30,000 or $0.001 per share in the same quarter last year.
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About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers Alexander Pidgeon and Rene Pidgeon.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
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Video Link: http://youtu.be/f_kk7WJa7Uk