Canada's stock index edged higher on Wednesday, as Iran signaled that overnight missile strikes "concluded" its retaliation to the U.S. killing of General Qassem Soleimani, while markets awaited the White House's statement on the matter.
The TSX Composite Index doggedly kept gains of 16.82 points to greet noon on Wednesday at 17,184.88
The Canadian dollar slid 0.20 cents to 76.71 cents U.S.
The largest percentage gainer on the TSX was oil and gas explorer Freehold Royalties, which jumped 34 cents, or 4.4%, to $8.03, after TD Securities upgraded the stock.
Linamar fell $3.47, or 7.1%, the most on the TSX, to $45.27, after the company flagged lower industry volumes and weaker market conditions.
ON BAYSTREET
The TSX Venture Exchange deleted 6.15 points to 579.32
Seven of the 12 TSX subgroups were in positive country, as consumer staples surged 1.1%, financials were 0.8% richer, and information technology was better by 0.7%.
The five laggards were heavily punished, particularly, gold, down 2.6%, while materials and health-care each faded 2.1%.
ON WALLSTREET
Stocks rose on Wednesday after President Donald Trump spoke about an attack by Iran at an Iraqi airbase that hosts American troops which led to a massive selloff in overnight trading.
The Dow Jones Industrials leaped 187.27 points to 28,770.95
The S&P 500 improved 21.49 points to 3,258.67.
The NASDAQ regained 66.01 points to 9,134.59, and hit an all-time high.
Trump said Iran appeared to be "standing down" after they attacked the Al Asad airbase. However, he added the U.S. will "immediately impose additional punishing economic sanctions on the Iranian regime."
Boeing shares were down 1.3%. A Ukraine International Airlines Boeing 737 airliner burst into flames shortly after take-off from Tehran on Wednesday, killing all 176 people aboard in a crash that an initial report blamed on engine failure. Ukrainian officials later said, however, that the cause of the crash was yet to be determined.
At their worst levels of overnight trading, S&P 500 futures were down more than 1.6% along with NASDAQ 100 futures. Dow futures lost more than 400 points overnight.
Sentiment also got a boost after ADP and Moody’s Analytics said U.S. private payrolls soared by 202,000 last month. Economists polled by Dow Jones expected a print of 150,000.
Investors were initially rattled late Tuesday after U.S. military officials told the media the Al Asad airbase, which is located in western Iraq, had come under attack, with multiple projectiles hitting it.
Investors around the globe have been bracing themselves for a bigger conflict between Iran and the U.S. after last week’s assassination of Gen. Qasem Soleimani, a top-ranking Iranian military official.
Prices for the 10-Year U.S. Treasury slipped, raising yields to 1.85% from Tuesday’s 1.83%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.87 to $60.83 U.S. a barrel.
Gold prices removed $4.20 to $1,570.10 U.S. an ounce.
