Stocks in Canada’s largest market enjoyed moderate gains as heavyweight energy stocks rose with higher oil prices, while insurer Sun Life Financial and exchange operator TMX Group fell after reporting earnings that failed to impress investors.
The S&P/TSX Composite Index gained 53.73 points to pause for lunch 15,622.93
The Canadian dollar was up 0.23 to 73.19 cents U.S.
In the financials group, Sun Life fell 5.3% to $46.30 after reporting a smaller-than-expected profit after the bell on Tuesday.
TMX Group Ltd fell 6.3% to $73.29 after its earnings also missed expectations late on Tuesday.
Home Capital Group was down 8.8% at $8.08 as the non-bank lender facing a regulator probe said depositors were withdrawing funds at a slower rate.
DHX Media Ltd fell 3% to $5.77 after the children's media company said it would add Snoopy and Strawberry Shortcake to its portfolio with a $345-million deal to buy Iconix Brand Group's entertainment unit.
ON BAYSTREET
The TSX Venture Exchange hiked 5.09 points to 779.23
All but two of the 12 TSX subgroups were positive by noon, with energy soaring 1.7%, gold up 1.3%, and materials better by 0.8%
The two laggards were real-estate, down 0.2%, and information technology, hesitating 0.03%.
ON WALLSTREET
Equities pulled back midday Wednesday as investors digested President Donald Trump's firing of Federal Bureau of Investigation Director James Comey.
The Dow Jones Industrials Average came off morning lows, but still found itself negative 15.67 points to 20.960.11, with Disney contributing the most losses. The media and theme park giant's stock was on track for its biggest one-day decline since June after reporting weaker-than-expected quarterly sales.
The S&P 500 inched forward 1.03 points to 2,397.95
The NASDAQ fell 4.25 points from Tuesday’s all-time high to 6,116.34
Other companies reporting earnings today included Crocs Inc., magicJack and Pegasystems Inc.
According to experts, 75% of the S&P 500 components that had reported as of Friday had topped bottom-line expectations, while 66% had beaten sales estimates. In all, 83% of S&P 500 companies had reported as of Friday.
In economic news, mortgage applications rose 2.4% on a seasonally adjusted basis last week. Import prices rose 0.5%, more than expected.
Investors were worried that Comey's abrupt dismissal could delay key items in the administration's agenda, including corporate tax reform and deregulation.
Comey's firing came at a time when Republicans were seemingly getting ready to move forward on tax reform as they got the ball rolling on health-care reform.
Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.37% from Tuesday’s 2.4%. Treasury prices and yields move in opposite directions.
Oil prices regained 65 cents at $46.53 U.S. a barrel
Gold prices grew $6.80 at $1,222.90 U.S. an ounce.
