Canada’s main stock index enjoyed small gains in the first hour on Thursday, though impacted by falling mining stocks and renewed Mideast concerns as Iran tightened
The TSX Composite Index surged 29.25 points to kick off Thursday at 33,984.36
The Canadian dollar backed off 0.05 cents at 73.11 cents U.S.
Iran on Wednesday seized two ships trying to exit the Strait and demanded Washington lift its naval blockade, which remains in effect even after U.S. President Donald Trump extended the ceasefire indefinitely.
Oil prices extended gains on the renewed uncertainty, rising more than 1% as stalled peace talks showed no signs of restarting and traffic through the ?critical strait remained restricted.
Teck Resources beat analysts' estimates for first-quarter profit, aided by ?an increase in copper prices ?and record sales. Teck shares opened $4.70, or 5.8%, to $85.75.
Statistics Canada reported its industrial product price index increased 2.4% month over month in March and gained 7.8% year over year, while its raw materials price index increased by 12.0% month over month and rose 23.6% year over year.
ON BAYSTREET
The TSX Venture Exchange settled 8.08 points to 1,042.78.
Seven of the 12 TSX subgroups were higher, as industrials took on 1.5%, utilities surged 1.3%, and energy stocks were 0.9% more energetic.
The five laggards were weighed most by information technology, sliding 3.4%, health-care, off 2.6%, and gold, dulling 0.8%.
The five laggards were weighed most by consumer staples, down 0.9%, while financials and industrials were each in the minus column 0.4%.
ON WALLSTREET
Stocks declined Thursday, giving back some of the gains that took the S&P 500 and NASDAQ to fresh record highs in the previous session.
The Dow Jones Industrial Average lost 98.05 points to 49,391.98.
The S&P 500 index brushed off 14.55 points to 7,123.35.
The NASDAQ gave up 130.69 points to 24,526.85.
Some of the biggest movers on Thursday included IBM and ServiceNow, which were respectively trading 9% and 15% lower after reporting their latest results.
Shares of Tesla shed 2% when CEO Elon Musk warned capital expenses would rise “substantially” as the electric vehicle maker moves into AI-powered self-driving cars and humanoid robots.
Prices for the 10-year Treasury improved, lowering yields to 4.29% from Wednesday’s 4.31%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.05 to $94.01 U.S. a barrel.
Gold prices tumbled $8.40 to $4,744.60 U.S. an ounce.
Related Stories
