December 14, 2011 - Investorideas.com, a leader in sector research for independent investors issues a trading alert for TSX trading leaders for December 13, 2011. The Standard & Poor's/TSX Composite Index plunged 147.95 (1.24%) to close the day at 11,759.94.
Connacher Oil and Gas Limited (TSX: CLL) shares were the most actively traded on the TSX and fell 0.12 (13.33%) to close the day at C$0.78 on over 18.68 million shares. The company said that its board has decided not to pursue the unsolicited takeover offer it received from a third party, sending shares down around 10%. The company said the offer was not "compelling", and that it continues to pursue joint venture deals.
Lake Shore Gold Corp. (TSX: LSG) slid 0.08 (6.20%) to C$1.21 on over 3.60 million shares, compared to its average volume of 3.89 million shares as gold prices slid another 2%. Lake Shore Gold Corp. (Lake Shore Gold) is a gold mining company. It is engaged in exploration and development of a number of projects and exploration properties.
Manulife Financial Corp. (TSX: MFC) fell 0.38 (3.48%) to end at C$10.53 with the broader market correction. Manulife Financial Corporation (MFC) is a life insurance and a holding company of The Manufacturers Life Insurance Company (MLI) and John Hancock Reassurance Company, Ltd. MFC is a financial services company serving customers in 22 countries around the world.
Ivanhoe Mines, Ltd.(TSX:IVN) fell 4.71 (22.13%) to close at C$16.67 after Rio Tinto may consider raising its stake in Ivanhoe, but says it doesn't currently plan a takeover bid for the copper and gold miner.
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