Equities in Canada’s largest market handed back gains on Thursday as losses in energy trumped gains in gold
The S&P/TSX Composite Index slid into the red 39.5 points to greet noon Thursday at 16,091.57
The Canadian dollar stayed afloat 0.06 cents to 74.06 cents U.S.
The largest percentage gainer on the TSX was BRP Inc, which jumped $4.36, or 12.1%, to $40.52 after reporting quarterly earnings.
B2Gold Corp gained three cents to $3.49, followed by shares of New Gold, down two cents, or 2.2% to 88 cents.
On the economic calendar, Statistics Canada reported that average weekly earnings of non-farm payroll employees were $1,016 in March, up 0.8% from February following four months of little change.
The agency adds that, compared with 12 months earlier, earnings grew by 1.9%.
ON BAYSTREET
The TSX Venture Exchange fell two points to 602.48.
Eight of the 12 Toronto subgroups were lower midday, as energy dropped 1.2%, consumer discretionaries weakened 0.5%, and utilities fell 0.4%.
The four gainers were led by gold, up 0.6%, information technology, ahead 0.4%, and consumer staples, eking out a gain of 0.3%.
ON WALLSTREET
Stocks wobbled on Thursday as investors were cautious amid lingering worries over the global economy.
The Dow Jones Industrials had its gains reduced to 6.96 points to 25,133.37, giving back its initial gains.
The S&P 500 regained 3.06 points to 2,786.08,
The NASDAQ Composite added 17.16 points to 7,564.46
In economic news, the second read on first-quarter U.S. Gross Domestic Product showed the economy expanded by 3.1% on an annualized basis. The 3.1% print topped a Dow Jones estimate of 3%.
The protracted trade dispute between China and the U.S. still weighed on markets. A senior Chinese diplomat ramped up the rhetoric overnight. Also, China has halted soy purchases from the U.S., according to Bloomberg News.
Chinese Vice Foreign Minister Zhang Hanhui said Thursday that provoking trade disputes amounted to “naked economic terrorism.”
Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets. Earlier this month, both countries ratcheted up tensions through higher tariffs.
Prices for the benchmark 10-year U.S. Treasury gained ground, lowering yields to 2.25% from Wednesday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices docked $1.15 to $57.66 U.S. a barrel.
Gold prices dropped $5.50 at $1,291.80 U.S. an ounce.
