Brick Group, CI, DundeeWealth, Norbord: Canada Equity Preview

By John Kipphoff

Nov. 11 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading today. Stock symbols are in parentheses, and share prices are from the yesterday's close in Toronto.

The Standard & Poor's/TSX Composite Index rose 1 percent to 9,688.80.

Brick Group Income Fund (BRK-U CN): The Toronto-based owner of ``The Brick'' furniture stores is a potential buyer of the closely held Canadian unit of Circuit City Stores Inc., valued $40 million to $100 million, the National Post reported, citing a report from RBC Capital Markets analyst Tal Woolley. Brick units fell 6 percent to C$2.82.

CI Financial Income Fund (CIX-U CN): Canada's second- biggest mutual-fund company is scheduled to report third-quarter results. The Toronto-based company may say that profit was 46 cents a unit, the average of five analyst estimates in a Bloomberg survey. The shares fell 1.5 percent to C$15.76.

Crew Gold Corp. (CRU CN): The Vancouver-based explorer of the precious metal in Greenland and Guinea fell to a record in Oslo trading after shutting an unprofitable mine. The Nalunaq mine in Greenland will be suspended as the cost of mining, shipping and processing makes it ``uneconomic for the company to pursue at this time,'' Crew Gold reported in a statement to the Toronto Stock Exchange. The Toronto-traded shares slid 17 percent to 15 cents.

DundeeWealth Inc. (DW CN): The Toronto-based money manager with C$30.8 billion ($25.8 billion) of mutual-fund assets cut more than 15 percent of its workforce since the start of the year to lower costs. The cutbacks have cost C$13 million and will save C$30 million annually starting next year, the company said in a regulatory filing. The shares climbed 2.9 percent to C$6.43.

European Goldfields Ltd. (EGU CN): The owner of the Stratoni mine in Greece posted a third-quarter loss of 5.04 million, or 3 cents a share, compared with a profit of $12.16 million a year earlier. Sales dropped to $16.1 million from $21.7 million. The shares added 11 percent to C$1.94.

Ivernia Inc. (IVW CN): The company that used to produce 3 percent of the world's mined lead said that it remains in talks with Western Australia state to ship 8,000 metric tons of the metal that's been blocked from export since last year on environmental concerns. The shares fell 1 cent to 5 cents.

Norbord Inc. (NBD CN): The second-largest maker of oriented strandboard suspended its dividend and said that it will raise as much as C$240 million by selling shares, to cut costs and boost capital.

Brookfield Asset Management Inc. (BAM/A CN), Norbord's biggest shareholder, has agreed to purchase any stock not bought by other investors, Toronto-based Norbord said in a statement distributed by Canada Newswire. Norbord, which also said that it renewed bank loans until 2011, gained 7.2 percent to C$1.78. Brookfield rose 1 percent to C$21.60.

Uranium One Inc. (UUU CN): The company mining the metal in Africa and Central Asia will cut 86 percent of the 1,175 employees from its Dominion mine in South Africa that was closed last month, according to labor union Solidarity. The shares fell 9.6 percent to C$1.32.

To contact the reporters on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.