Home Oil seeks better offer after Amoco bid
Calgary’s Home Oil, 70, says it will fend off Amoco Canada’s unsolicited 757 million dollar bid by pursuing higher offers. The board, which anticipated a takeover, notes it has heard from other potential buyers while defending Amoco’s 16.50 per share cash proposal as undervalued. Amoco’s David Newman argues the bid is a premium for Home shareholders.
MENTIONED IN THIS ARTICLE
Calgary
Calgary Petroleum
U.S
Home Oil
Amoco Canada Petroleum
Calgary Oil and Natural Gas
Amoco
Home
Amoco Canada
Amoco Corp
Chicago
David Newman
Canada
Newman
Amoco Canada bids for Home Oil sparks market rally
Amoco Canada Petroleum and Home Oil face a bid that sent Home Oil shares surging on the Toronto Exchange to $17.75, with 6.1 million shares traded. Home Oil profits and production details were reported, while Amoco Canada and Home Oil employees numbers are noted. The bid underscores a shift toward natural gas as a long term growth area.
MENTIONED IN THIS ARTICLE
Home Oil
Toronto Stock Exchange
Home
New York
American Stock Exchange
CN says Halifax can beat New York as a port for cargo
CN Rail says containers from Europe can reach Chicago faster via Halifax than New York. A Halifax Chicago run took 44 hours 20 minutes, aided by a new Sarnia tunnel and skipping Montreal and Toronto. Eastern ports like Montreal compete for Midwest overseas traffic.
MENTIONED IN THIS ARTICLE
Montreal
Europe
Chicago
Halifax
New York
CN Rail
Sarnia
Ont
Toronto
Midwest
Dave Macintyre
Klein ends long trade tour but eyes future trips
Alberta Premier Ralph Klein wraps up a Middle East trade mission saying he won’t take another three week tour this year. He spoke of fatigue and a plan to add Kazakhstan and Hungary in January and noted possible Mexico and South America travel later. Klein called the trip worthwhile despite criticism and discussed reforms to Alberta’s export drive.
MENTIONED IN THIS ARTICLE
Marta Gold
Edmonton Journal
Cairo
Tire
Ralph Klein
Middle East
Klein
Switzerland
London
Israel
Lebanon
Egypt
New York
Tanne
Europe
Kazakhstan
Hungary
Canada
India
Mexico
South America
Hosni Mubarak
Wall Street Journal
Alberta
Saudi Arabia
Ken Rostad
Toronto Stocks Slip as TSE 300 Dips and Gold Advances
Toronto and New York markets traded lower at noon with the TSE 300 index down 67 to 4522.2 as volume surged to 24 million shares. Decliners outpaced gainers 262 to 237 with four of 14 groups rising on gold and silver gains, while transportation led losses.
MENTIONED IN THIS ARTICLE
Toronto
New York
Vanity Corp
Loewen Group
Bank of Nova Scotia
Vancouver stock activity on the Vancouver Stock Exchange
Trading on the Vancouver Stock Exchange showed gains with a VSE index at 828.67, up 2.04 from Wednesday. Volume reached 4,299,347 shares as 112 advanced, 81 declined, and 137 unchanged. notable movers included Leicester Diamond and Goldner Resources, with venture plays like Castle Rock Explorations and AGC Americas Gold also active.
MENTIONED IN THIS ARTICLE
Vancouver
Vancouver Stock Exchange
Leicester Diamond
Dentonia Resources
Goldner Resources
Coriente Re
Castle Rock Explorations
AGC Americas Gold
Birchwood Ventures
Pan-Global Enterprises
Fairhaven
Starcore Resources
Canola leads gains as Winnipeg grain market shows stronger volume
The Winnipeg grain market saw heavier option activity with hedging pressure and buying driving canola higher after oversold sessions. August and November were the focus of trade with gains across multiple contracts. flax and feed grains also rose on light volume amid U.S. support. Total trade reached about 159,120 tonnes across flax, canola, wheat, oats and barley.
MENTIONED IN THIS ARTICLE
Winnipeg
Chicago
U.S
Ul. Commission House
Marc
Canola
Wall Street Dives as Dow Drops Over 1,800 Points
Midday trading shows the Dow Jones industrial average down 1833 to 4598.46 with the NYSE composite sliding 1.11 to 290.57 and the S P 500 falling 2.53 to 542.20. Volume reached 146.61 million shares, below Wednesday’s 171.66 million. Decliners outpace advancers by nearly 4 to 3 on the NYSE.
MENTIONED IN THIS ARTICLE
Wall Street
New York Stock Exchange
NYSE
Standard and Poor
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Japan
Ryutaro Hashimoto
Mickey Kantor
Geneva
James Lowery
Revere
DuPont MasterStore
Saxony
Atlantis
Main Floor Carpets Ltd
South Railway Street
RBC Dominion Securities
Msg Idibi
Mines and Minerals SR Eve
Pee
Dow Jones
Renee
Sebee Ene
TSE
ASK AlrCan
CanAirines Eee
Cameco Aurea Eeveee
Cfracmstr
Cibc Se Beas
Nat Res
CP Ltd Eee Nee
Macmilan Ee
Noranda Seem
Seem
Nova Cor See
NS Power Dae
Petro Cdn
Aer
Poco Pete i Ee
Royal Bnk Bence Ee
Telus Cor
Tor Dm Bnk Ee
Toronto Stock Exchange Today
Hummingbird Communications
Cognos Inc
Trimark Financial
International Pursuit
Golden Knight
Dia
Kinross
Caledonia Mining
Canadian Natural Resources
Pengrowth Gas U
Pinnacle Resources
Summit Resources
Rigel Energy
Ulster Petroleum
Winnipeg Grain Report
Bortom
Tribune Media Services, Inc
Ted Ou
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