The Toronto stock market turned upwards, even as traders are still concerned that the euro-zone still hasn’t been able to agree on a vital batch of bailout money for Greece.
The S&P/TSX Composite Index had turned positive 23.30 points by noon Wednesday to 12,069.58
The Canadian dollar slid 0.04 to 100.26 cents U.S.
Trade is likely to be muted ahead of the U.S. Thanksgiving holiday.
Research In Motion Ltd. appears to be righting itself. The BlackBerry maker got a boost when one of its most influential critics raised his rating on the stock ahead of the launch of RIM's make-or-break new line of BlackBerry 10 devices. RIM stock had gained 15 cents a share to $9.85 by noon.
Zambia has granted environmental approval to First Quantum Minerals for a planned 300,000 tonnes per year $640-million copper smelter at its Kansanshi mine license area, the environmental management agency said. First Quantum shares fell 40 cents to $21.42
Lululemon Athletica Inc. settled a lawsuit over its distinctive yoga pants against PVH Corp's Calvin Klein and G-III Apparel Group Ltd. Lululemon stock slid 81 cents to $70.68
Pipeline operator TransCanada Corp. will pay $210 million for BP Plc's 40% stake in the Crossfield Gas Storage facility, 50 kilometers north of Calgary, Alberta, to consolidate ownership of the operation. TransCanada shares gave back 26 cents to $45.13
No major Canadian economic data was scheduled for release Wednesday.
ON BAYSTREET
The TSX Venture Exchange had gained two points by midday to 1,244.30
In all, eight of the 14 subgroups had gained ground by the lunch break, gold leading the way, up 0.9%, while information technology forged 0.5% higher, and financials gained 0.4%.
The five laggards were weighed down mostly by metals and mining, down 0.9%, health-care, off 0.4%, and global base metals, sliding 0.3%.
The energy sector was unchanged at noon ET.
ON WALLSTREET
Stocks traded slightly higher Wednesday as the U.S. government's strong report on jobless claims offset new worries over Greece.
The Dow Jones Industrials grew 40.58 points to 12,829.10
The S&P 500 moved 0.93 points higher to 1,388.74, and the Nasdaq Composite Index picked up 6.79 points to 2,923.47
But trading volume is expected to be light ahead of the Thanksgiving holiday on Thursday.
European finance ministers failed to finalize the details of a debt-reduction package for Greece before the close of their meeting Wednesday.
The inability of finance ministers to reach a deal over Greece has reignited worries about European sovereign debt, but European stocks also held up Wednesday.
In corporate news, Deere dipped 3% after the equipment maker released quarterly results. Shares of jewelry maker Zale dropped nearly 30% after the company reported a steep quarterly loss. Publisher Scholastic stock dropped after it lowered its forecasts for next year.
YY, the first Chinese IPO since April, jumped 10% in its debut on Nasdaq.
U.S. stocks ended flat Tuesday, amid a sharp selloff in Hewlett-Packard shares after the company reported a massive loss. HP's shares were flat Wednesday.
Economically speaking, new U.S. jobless claims totaled 410,000 last week, impacted by storm conditions in the Northeast, but better than the 423,000 analysts had predicted.
Later on, the University of Michigan will release the final version of its consumer sentiment index for November.
The price on the benchmark 10-year U.S. Treasury fell a bit, lifting yields to 1.69% from Tuesday’s 1.66%. Treasury prices and yields move in opposite directions.
Oil prices dipped 31 cents to $86.44 U.S. a barrel.
Gold prices jumped $3.10 an ounce to $1,726.70 U.S.
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