Investing.com – While Wall Street trading sideways – with the Nasdaq and S&P500 managing to eke out a gain at midday, while the Dow traded flat, the TSX declined this morning as energy stocks weighed on the resources-tilted Canadian index despite a gain in crude prices. It’s been a rough week for Canadian energy stocks, with Cenovus yesterday announcing reduced downstream production and Suncor (TSX: SU ) being downgraded today by Wells Fargo (NYSE: WFC ), and both amongst the most sold stocks on the TSX today. Investor sentiment meanwhile continues to remain uncertain ahead of US CPI data expected later this week. The Biggest Stories on Bay Street First Quantum Minerals (TSX: FM ) says that it is ready to reach a deal with the Panamanian government over its Cobre Panama Mine, meeting terms set out by the government last January. The deal will include minimum of US$375 million per year in government income, including corporate taxes, and a profit-based royalty of 12% to 16%, with downside protections for the government’s position.The Panamanian government ordered the suspension of work at the mine in December after a failure to agree on new profit sharing terms. HydroOne has announced a […]
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