TORONTO – Mining and energy stocks helped move Canada’s largest stock index higher on Friday, as U.S. markets fell into the red a day after making their biggest gain in two months.The S&P/TSX composite index was up 63.20 points to 15,998.57. Taseko Mines Ltd. (TSX:TKO) and Baytex Energy Corp. (TSX:BTE) had some of the biggest advances, up more than five per cent and six per cent respectively at the closing of markets.“Toronto is up today largely because the U.S. dollar is down, which has the price of gold and oil higher, which broadly affects the Canadian market,” said Norman Levine, managing director of Portfolio Management Corp.The January crude contract climbed US$1.36 to US$56.71 per barrel while the December gold contract soared US$18.30 to US$1,296.50 an ounce.Canadian oil stocks were somewhat tempered by news that TransCanada Corp.’s Keystone pipeline leaked an estimated 210,000 gallons of oil onto agricultural land in northeastern South Dakota on Thursday, Levine noted.While state officials don’t believe the leak polluted any surface water bodies or drinking water systems, the timing of the incident couldn’t be worse. Thursday’s spill comes four days before Nebraska is set to vote on whether TransCanada can go ahead with its XL pipeline, which would take a more direct route than the existing Keystone pipeline. Shares of the energy company (TSX:TRP) were down 59 cents, or 0.93 per cent, to $62.54.South of the border, U.S. stock indexes were mostly lower on Friday as technology companies, including Microsoft, lagged the market.The Dow Jones industrial average fell 100.12 points to 23,358.24. The S&P 500 index edged down 6.79 points to 2,578.85 and the Nasdaq composite index lost 10.50 points at 6,782.79.“The market has been on a down trend so far this month pretty much, and yesterday was a big rebound day, but you could say it’s just resuming its down trend,” said Levine. “There’s no real fundamental reason other than valuations got ahead of themselves and they’re just trying to normalize here a bit.”In currency markets, the Canadian dollar was trading at 78.23 cents US, down 0.23 of a U.S. cent.Elsewhere in commodities, the December natural gas contract was up four cents to US$3.10 per mmBTU and the December copper contract added two cents at US$3.07 a pound.Follow @DaveHTO on Twitter.
A fully fledged modern high voltage laboratory was a long felt need for the university education and the electrical engineering industry of Sri Lanka. The laboratory has been named after Prof Rohan Lucas as a gratitude for the dedicated long service over 45 years for High Voltage Engineering Education of the university and the country. The laboratory consist of a High voltage Impulse Generator, High Voltage AC Test System, High Voltage DC Test System, Artificial Rain Making Equipment and associated control equipment and auxiliary devices. The laboratory is capable of High Voltage Impulse Tests, High Voltage AC and DC tests up to 500kV and 300kV respectively at different environmental conditions. Sri Lanka’s first fully fledged modern high voltage lab was declared open at the University of Moratuwa today.The modern High Voltage Laboratory and Testing Facility was ceremonially opened under the patronage of the Chancellor of the University of Moratuwa, Prof. K K Y W Perera as the Chief Guest, Chief Executive Officer of LTL Holdings (Pvt) Limited, Eng U D Jayawardana as the Guest of Honour, Vice Chancellor and Prof. Ananda Jayawardna, Dean of the Engineering Faculty. LTL Holdings (Pvt) Limited has joined hands with the university as the industrial sponsor in construction of the laboratory. This is as another CSR project by LTL to up held the university education in Sri Lanka. Cost of laboratory was Rs 35 million appx out of which laboratory renovation and civil construction works around Rs 5 million was sponsored by LTL Holdings (Pvt) Limited.The lab facility will be of immense support to Undergraduate and Post Graduate Engineering students for their laboratory experiments, design and research projects and for the High Voltage Research Group of the University lead by Prof Rojan Lucas and Dr Rasara Samarasinghe. Further the testing facility is capable of carrying out HV Transformer Testing, HV Cable Testing, Meter Testing, HV Insulator and Bushing Testing, HV Switchgear Testing, HV CT/PT/ and CVT Testing which has been a long standing vacuum in the industry.This is the only test facility in Sri Lanka of this caliber with equipment including an impulse generator test set, HVAC test set and HVDC test set that are capable of carrying out most of the testing required by the power industry in the country. (Colombo Gazette)