Among the companies whose shares are making notable moves in Thursday's session are Dollarama Inc. DOL.T, Manulife Financial Corp. MFC and Romarco Minerals Inc. R.T.
Dollarama (C$34.92, C$0.65, 1.9%) posted better-than expected earnings in the fiscal second quarter on an almost 13% increase in sales and an improved gross margin.
Manulife (C$12.73, C$0.58, 4.8%) Chief Executive Don Guloien said at a conference Wednesday that the company has "trivial" exposure on the asset side to Europe and expects the deleveraging process in Europe will "create opportunities for us around the world." He also said concern about the U.S. market is "grossly overblown."
CIBC upgraded Romarco (C$1.18, C$0.06, 5.4%) to sector perform following the release late Wednesday of recent assay results from the ongoing drilling program at its Haile gold mine project in South Carolina, which Romarco said demonstrate "the sustained growth and continuity of the mineralized system at Haile."
Among the companies whose shares are making notable moves in Thursday's session are First Quantum Minerals Ltd. (FM.T), Lundin Mining Corp. (LUN.T) and Royal Bank of Canada /zigman2/quotes/206088494/composite RY +0.65% .
Copper producer such as First Quantum (C$21.40, C$1.17, 5.8%) and Lundin (C$4.95, C$0.18, 3.8%) are up on copper-price strength in the wake of measures unveiled by the European Central Bank which eased credit-crunch concerns. Demand for copper, used in everything from laptops and air conditioners to household plumbing, tends to wane when business activity slows.
Royal Bank (C$47.22, C$1.23, 2.7%) is among the contributors to the overall rise in Toronto's financial index Thursday as Canada's banks have minimal exposure to troubled euro-zone countries and any concerns over counterparty risk have now dissipated with the injection of central bank cash into the euro-area banks.