Markets in Toronto overcame tensions about possible U.S. military strikes against Syria, as well as with existing worries about the U.S. Federal Reserve's stimulus program, to post slight gains in the early going Wednesday.
The S&P/TSX composite index gained 11.16 points to begin the session at 12,602.37, after giving back nearly 170 points Tuesday.
The Canadian dollar faded 0.13 cents to 95.34 cents U.S.
Canadian Oil Sands said a coker at Syncrude's northern Alberta oil sands project is back in operation after the completion of maintenance work that started in June. The company is the largest shareholder in Syncrude. Oil Sands shares gained three cents early on, to $20.25.
Barclays raised the target price on Bank of Montreal to $65 from $62 after the bank's earnings beat expectations. BMO shares took on 13 cents to $66.18.
National Bank Financial cut the target price on National Bank of Canada to $64 from $67, expressing the opinion that the disappointing performance in the international banking segment stands out as the most striking aspect of the third-quarter's results. National shares sprouted $1.10 to $80.35.
RBC cut the rating on Minera IRL Ltd. to sector perform from outperform and cuts price target to 45 cents from 75 cents, says liquidity pressures remain while the company's Don Nicolas project moves forward. Minera shares dipped half a cent to 22.5 cents.
ON BAYSTREET
The TSX Venture Exchange slipped 2.36 points to 934.38.
Of the 14 Toronto subgroups, gainers outnumbered losers eight to six, led by gold, up 1.9%, materials, ahead 1.2%, and information technology issues, tacking on 0.8%.
The half-dozen laggards were weighed mostly by real-estate, sliding 0.7%, financials, off 0.3%, and industrials, down 0.1%.
ON WALLSTREET
U.S. stocks steadied Wednesday, even as uncertainty roils markets around the world and investors fret over the potential consequences of a U.S.-led military strike on Syria.
The Dow Jones Industrials recovered 28.49 points to 14,804.60, after collapsing 170 points Tuesday.
The S&P 500 index gained back 2.53 points to 1,633.01. The NASDAQ gained 11.31 points to 3,589.83
The world seems increasingly convinced that the U.S. -- and its allies -- will make a military strike against Syrian government forces in the coming days. U.S. officials report that Syrian forces used chemical weapons to attack innocent people.
Oil stocks Chevron and Exxon Mobil were some of the best performing in the Dow on the news. Shares of Chevron rose 2.2% and Exxon was up about 1.2%.
Prices for the 10-year U.S. Treasury drooped, raising yields to 2.76% from Tuesday’s 2.72%. Treasury prices and yields move in opposite directions.
Oil prices picked up $1.05 to $110.06 U.S. a barrel.
Gold prices acquired 10 cents to $1,420.30 U.S. an ounce.
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