Equities in Canada’s largest market fought their way higher in early trade on Thursday as financial and railway stocks slipped, while broad gains for resource stocks on higher commodity prices offset the downward momentum
The S&P/TSX Composite gained 2.78 points to start Thursday at 15,405.17
The Canadian dollar pointed upward 0.22 cents at 76.85 cents U.S.
BCE Inc. reported a 32.5% rise in quarterly profit as it added customers and earned more per subscriber in its postpaid wireless business.
BCE shares slipped 84 cents, or 1.4%, to $57.55.
Mercedes maker Daimler’s chief executive says he expects NAFTA free trade agreement between the United States, Mexico and Canada will continue under new President Trump
NBF raised the target price on CGI Group to $80.00 from $76.00, with an outperform rating. CGI shares acquired 41 cents to $64.26.
ON BAYSTREET
The TSX Venture Exchange vaulted 6.7 points to 820.60
Seven of the 12 subgroups were higher to begin the session, as gold soared 1.2%, materials improved 0.7%, and consumer staples added 0.4%.
The five laggards were weighed most by industrials and telecoms, each down 0.5%. and utilities, settling 0.3%.
ON WALLSTREET
Equities kicked off Thursday trading lower as tensions between the United States and other global powers grew.
The Dow Jones Industrials shed 21.48 points to 19,869.46, with Goldman Sachs contributing the most losses.
The S&P 500 dropped 2.26 points to 2,277.59, with financials leading decliners
The NASDAQ eased 0.43 points to 5,642.23
President Donald Trump warned Mexican President Enrique Pena Nieto on Friday that he was ready to send U.S. troops to stop "bad hombres down there" unless the Mexican military does more to control them
Separately, the Washington Post reported that a call between Trump and Australian Prime Minister Malcolm Turnbull on Saturday did not go well.
Investors also focused on economic data, as initial jobless claims fell 14,000 to 246,000. The print is also below a consensus estimate of 250,000. Fourth-quarter non-farm productivity rose 1.3%. Investors also looked ahead to the January jobs report, which is scheduled for release Friday morning.
Prices for the benchmark 10-year Treasury note perked, bringing yields down to 2.44% from Wednesday’s 2.48%. Treasury prices and yields move in opposite directions.
Oil prices tacked on seven cents to $53.95 U.S. a barrel
Gold prices recouped $15.30 to $1,223.60 U.S. an ounce.
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