Equities in Canada’s most populous city rose on Thursday as crude prices jumped about 2% and pushed the energy sector higher.
The S&P/TSX Composite jumped 121.07 points to greet noon at 16,386.29
The Canadian dollar hiked 0.39 cents to 75.54 cents U.S.
Inter Pipeline initially jumped, but floundered by noon ET, by 48 cents, or 5.2%, to $8.84.
TMX Group, however, stayed on the march, amassing $11.55, or 11.4%, to $112.95.
Iamgold plunged 84 cents, or 15.6%, the most on the TSX, to $4.52, after Credit Suisse downgraded its shares to neutral from outperform.
The second-biggest decliner was Ag Growth International down $4.46, or 8.8%, to $46.24, after the seed and fertilizer maker reported quarterly results.
On the economic front, Statistics Canada reported new housing prices were down 0.1% at the national level for the second consecutive month in June. Prices have been flat or falling since last August.
ON BAYSTREET
The TSX Venture Exchange ducked 1.88 points to 595.45
All but two of the 12 Toronto subgroups were positive midday as information technology climbed 1.8%, consumer staples took on 1.6%, and energy grew 1%.
The two laggards were gold, dulling 0.5%, and communications, sliding 0.2%.
ON WALLSTREET
Stocks rose on Thursday as global bond yields rebounded while investors digested better-than-expected trade data out of China.
The Dow Jones Industrials leaped 273.39 points, or 1.1%, to 26,280.97
The S&P 500 tacked on 42.89 points, or 1.5%, to 2,926.87.
The NASDAQ leaped 138 points, or 1.8%, to 8,000.82
Tech shares led the gains, with the sector rising more than 1%. AMD was the best-performing stock in the sector, surging about 14% as investors cheered the release of a second-generation chip for data centers.
Disney shares also contributed to the gains, rising 1.4% after an analyst Credit Suisse upgraded the media giant to outperform from neutral.
The analyst expects the company will have a successful launch of Disney+, the company’s streaming service.
Strong data out of China helped calm Wall Street down. China said exports rose 3.3% on a year-over-year basis in July. Economists expected exports to fall by 2%.
Prices for the benchmark 10-year U.S. Treasury fell sharply, lifting yields to 1.77% from Wednesday’s 1.60%. Treasury prices and yields move in opposite directions
Oil prices regained $1.62 to $52.71 U.S. a barrel.
Gold prices tumbled $9.80 to $1,509.80 U.S. an ounce.
