The Toronto stock market began Wednesday positively, amid further solid news from China.
The S&P/TSX index gained 47.24 points, to open Wednesday at 12,531.29
The Canadian dollar gained 0.13 cents at 98.51 cents U.S.
In corporate news, three of Canada’s smaller mobile phone carriers have jointly announced they’re withdrawing from the industry’s main lobby group.
Wind Mobile, Public Mobile and Mobilicity accuse the Canadian Wireless Telecommunications Association of consistently taking positions that favour Canada’s three older, bigger carriers — Rogers, Bell and Telus. Rogers shares took on 79 cents to $52.52, while BCE shares gained 40 cents to $46.90, and Telus shares 45 cents to $69.45
ON BAYSTREET
The TSX Venture Exchange deducted 8.21 points to 1,046.56
All but three of the 14 Toronto subgroups began the day upward, led by metals and mining, up 1%, telecoms, up 0.9% and financials, ahead 0.8%.
The three laggards were gold, down 1.9%, materials, off 1%, and information technology, sliding 0.1%.
ON WALLSTREET
Stocks pushed higher Wednesday morning, despite an early release of Federal Reserve minutes that showed central bankers remain divided over whether to continue asset purchases.
The Dow Jones Industrials Average added 75.06 points to achieve a new intraday high of 14,748.50
The S&P 500 index gained 8.91 points to 1,577.52. The tech-heavy NASDAQ Composite moved up 34.53 points to 3,272.39
In company news, shares of Family Dollar slumped after the company reported earnings that missed estimates and issued a weak outlook.
Shares of JC Penney rose 2% despite uncertainty about the troubled retailer's future after former CEO Ron Johnson was ousted Monday.
Facebook's stock rose more than 2% after General Motors announced that it would return to advertising on the social media site, ending its year-long hiatus.
Shares of First Solar pulled back after a big surge Tuesday following better-than-expected guidance from the solar panel maker.
Investors cheered China trade figures for March that showed a 10% year-over-year increase, buoyed primarily by exports to the United States.
Also Wednesday, President Obama will unveil his 2014 budget proposal, which serves as an important marker in continuing debt negotiations in Washington.
Prices on the 10-year U.S. Treasury fell, raising yields to 1.78% from Tuesday’s 1.75%. Treasury prices and yields move in opposite directions.
Oil prices doffed 26 cents to $93.94 U.S. a barrel.
Gold prices fell $9.40 to $1,575.40 U.S. an ounce.
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