Newfound strength in the energy sector took indices in Toronto upward with them on Thursday, resulting in yet another positive finish.
The S&P/TSX Composite gained 63.26 points to close Thursday at 15,617.30
The Canadian dollar added 0.05 cents at 76.12 cents U.S.
Energy stocks were the liveliest of the bunch Thursday, as Birchcliff Energy roared ahead 57 cents, or 7.7%, to $7.95, while EnCana Corp. took on $1.01, or 6.5%, to $16.54.
In the technology field, BlackBerry gained seven cents to $9.61, while Constellation Software finished positive 66 cents to $584.25.
In the discretionary field, Ritchie Bros. Auctioneers came out ahead 64 cents, or 1.6%, to $41.12.
Gold weighed things down a bit, as IAMGOLD Corp. slumped 30 cents, or 4.5%, to $6.44, while Barrick Gold gave back 57 cents, or 1.2%, to $25.18.
Materials stocks also fell as Lundin Mining dropped 13 cents, or 1.6%, to $8.14, while Katanga Mining slouched a penny, or 3.5%, to 28 cents.
Among telecoms, TELUS slid $1.01, or 2.3%, to $43.14, while Shaw Communications faded 12 cents to $28.05.
On the economic front, Statistics Canada’s new house pricing index edged up 0.1% in December compared with the previous month, largely reflecting price increases in Ontario and Alberta.
The agency says prices have risen at the national level for 21 months.
ON BAYSTREET
The TSX Venture Exchange gained 0.47 points to 825.88
Seven of the 12 subgroups were still higher by the close, with energy stronger 2.2%, information technology and consumer discretionaries each advancing 0.7%
The five laggards were weighed most by gold, down 1.6%, materials, sliding 1.1%, and telecoms surrendering 0.4%.
ON WALLSTREET
U.S. equities rallied on Thursday after President Donald Trump said he would give an announcement regarding taxes in the next few weeks.
The Dow Jones Industrials moved skyward 117.99 points to 20,189.56, with Goldman Sachs contributing the most gains.
The S&P 500 gained 13.2 points to 2,307.87, hitting a new all-time high close, with financials rising 1.4%
The NASDAQ added 32.73 points to another all-time record close of 5,715.18
“We're going to announce something I would say over the next two or three weeks that will be phenomenal in terms of tax," Trump said, coming out of a meeting with U.S. airline executives.
The economic calendar was a thin one Thursday, with only two major reports on hand. Weekly jobless claims fell by 12,000 to 234,000, below a consensus estimate of 250,000. Wholesale trade data for December were scheduled for later this morning.
Prices for the benchmark 10-year Treasury note weakened, raising yields to 2.40% from Wednesday’s 2.34%. Treasury prices and yields move in opposite directions.
Oil prices gained 68 cents to $53.02 U.S. a barrel
Gold prices dropped $6.80 to $1,232.70 U.S. an ounce.
