Equities in Canada’s biggest centre enjoyed triple-digit by the close of business on Thursday as tech and energy strength led the way
The S&P/TSX Composite jumped 150.7 points to end Thursday’s session at 16,415.92
The Canadian dollar hiked 0.42 cents to 75.56 cents U.S.
Tech firms boasted the best gains, as Quarterhill Inc. popped 13 cents, or 8.1%, to $1.73, while Shopify leaped $19.37, or 4.3%, to $473.17.
Energy stocks then followed, with Crescent Point Energy towering 25 cents, or 6.6%, to $4.03, while Enerplus gained 28 cents, or 3.7%, to $7.86.
Among consumer staples, Cott Corp. zoomed $1.22, or 7.4%, to $17.62, while Saputo screamed higher $1.70, or 4.2%, to $42.06.
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 fell 0.74 points to 596.59
All but one of the 12 Toronto subgroups were positive on the day as information technology climbed 12%, energy gushed 1.4%, and consumer staples took on 1.3%
Only consumer discretionary stocks missed the party falling 0.1%.
ON WALLSTREET
Stocks rose on Thursday, erasing most of the steep losses from earlier in the week, as global bond yields rebounded while investors digested better-than-expected trade data out of China.
The Dow Jones Industrials was airborne 371.12 points, or 1.4%, to 26,378.19
The S&P 500 tacked on 54.11 points, or 1.9%, to 2,938.09.
The NASDAQ advanced 176.33 points, or 2.2%, to 8,039.16
Tech shares led the gains Thursday, with the sector surging 2.9%. AMD was the best-performing stock in the sector, jumping 16.2% as investors cheered the release of a second-generation chip for data centers.
Disney shares also contributed to the gains, rising 2.3% 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 1.71% from Wednesday’s 1.60%. Treasury prices and yields move in opposite directions
Oil prices regained $1.74 to $52.83 U.S. a barrel.
Gold prices staged something of a comeback, still falling short $4.60 to $1,515 U.S. an ounce.
