(MENAFN- ProactiveInvestors) Toronto's main market rallied Wednesday as upbeat U.S. economic data and firmer oil prices helped lift all major sectors.
In corporate news () the nation's largest airline wavered between gains and losses. The company said its fourth-quarter load factor dipped slightly to 82.6 percent from 82.7 percent while traffic rose 8.3 percent and capacity was up 8.5 percent. Canada's largest airline also said it is assessing the viability of its operations at Toronto's Billy Bishop airport.
() the nation’s largest discount carrier rose 0.1 percent to C$32.6. The company said its December load factor was 80.9 percent down from 81.7 percent a year earlier and traffic and capacity rose 5.1 percent and 6.1 percent respectively.
Magellan Aerospace (TSE:MAL) gained 2.0 percent to C$13.57 after saying it has signed a 10-year agreement with Pratt & Whitney Canada for the supply of magnesium and aluminum castings. It said it expects the agreement to represent about C$250 million in revenue through 2023.
Shares of () surged over 15 percent after the company unveiled a $21 million capital budget for 2015 which it called conservative. "In light of expectations for an industry slowdown in 2015 we have set a conservative capital budget" said president and chief executive officer Garnet Amundson in a release.
Moving to junior markets in Canada shares of Calgary-based Marsa Energy (CVE:MEP) rocketed higher today after recognizing reserves for the first time at the Poyraz Ridge field in the Ortakoy block in Turkey with first gas sales expected next year. The stock more than doubled to 70 Canadian cents in Toronto Wednesday placing year-to-date gains at 133 percent.
New Zealand Energy () (OTCQX:NZERF) said that as part of its efforts to cut down on costs it has moved the holding company for its New Zealand subsidiaries from Singapore to New Zealand as it works to refinance the business amid the slump in oil prices.
Shares of oil and gas producer () were under pressure today last down over 14 percent after the Ukrainian government extended a recently passed temporary bill raising gas royalties in the country where the upstream oil company holds interests in five licenses near the city of Lugansk. Ukraine's Parliament recently passed amendments to the Tax Code of Ukraine and among other changes permanently set the natural gas royalty rate at 55 percent for production at depth of 5000 metres or shallower while wells producing at depths more than 5000 metres are subject to a 28 percent royalty rate it said in a statement today.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.