Stocks in Toronto held their own by midday Thursday, mostly due to strong showings by information technology and industrial issues.
The S&P/TSX Composite Index gained 31.86 points – off its highs of the morning -- to greet noon Thursday at 15,528.84, after a 100-point-plus skid on Wednesday
The Canadian dollar slipped 0.13 cents at 74.01 cents U.S.
Tech stocks galloped fastest, as BlackBerry took on eight cents to $9.08, while Constellation Software grew $5.60 to $653.58.
In industrial issues, Canadian National Railway rumbled higher 69 cents to $97.20, while Air Canada shares inched up six cents to $13.16.
Among material issues, Agrium gathered $2.96, or 2.3%, to $130.48, while Potash Corporation climbed 59 cents, or 2.6%, to $23.42.
In the consumer discretionary field, Ritchie Bros. Auctioneers faded eight cents to $41.55.
On the economic slate, Statistics Canada said its new housing price index edged up 0.1% in January from the month before, mostly on the strength of higher prices in Ontario.
ON BAYSTREET
The TSX Venture Exchange eked up 0.23 points to 793.21
Eight of the 12 TSX subgroups were in the green midday, as information technology sprinted 1%, materials and industrials each improving 0.3%.
The four laggards were weighed most by consumer discretionaries, off 0.3%, while gold and real-estate each surrendered 0.1%.
ON WALLSTREET
U.S. equities traded mostly flat Thursday, with telecommunications leading, as investors got ready for key employment data.
The Dow Jones Industrials retained 3.22 points worth of gains by noon ET at 20,858.95, with Johnson & Johnson contributing the most gains.
The S&P 500 gained 2.18 points to 2,365.16, with telecommunications rising 0.6%.
The NASDAQ added 5.87 points to 5,843.42
The ECB kept interest rates unchanged, as was widely expected. President Mario Draghi said in a news conference that while some sentiment indicators suggest the region's recovery may be gaining steam, "measures of underlying inflation remain low."
Investors also looked ahead to the February non-farm payrolls report scheduled for Friday morning. On Wednesday, ADP and Moody's said private companies added 298,000 jobs last month, shattering estimates. Goldman Sachs and UBS subsequently raised their estimates for Friday's report following ADP's blowout number.
Market expectations for a rate hike next week have skyrocketed in recent weeks amid hawkish Federal Reserve rhetoric and solid economic data. According to experts March rate hike expectations were 91%
On the data front Thursday, initial jobless claims bounced back from 44-year lows, with import prices rising 0.2%.
Prices for the benchmark 10-year Treasury note fell, raising yields to 2.58% from Wednesday’s 2.55%. Treasury prices and yields move in opposite directions.
Oil prices gave back $1.21 to $49.07 U.S. a barrel
Gold prices docked six dollars to $1,203.40 U.S. an ounce.
