The TSX is trading flat to slightly down today as the oil and gas sectors put pressure on the resource heavy index.
One of the big stories that keeps on giving is Sino Forrest (TRE:TSX) which was down sharply -20% in the morning trade, but has since managed to climb back to the -2% level. The company said it was postponing the tour of its forestry assets, which makes you wonder why it is climbing back up to break even?
Gold and gold miners are seeing some buying as further worries about Portugal’s credit rating is fueling a move back into the safety of the metal.
Suncor Energy (SU:TSX) is leading the index lower by 0.8% at C$38.50, Cenovus Energy (CVE.TSX) losing 1.6% and Talisman Energy (TLM:TSX) is downl 1.8%
As expected the top advancers are the gold stocks with big names like Barrick (ABX:TSX), up 1.4% and Eldorado Gold (ELD.TSX) +5% to C$15.63.