Equity markets in Toronto opened slightly higher on Thursday as investors awaited a slew of U.S. macroeconomic data including initial and continuing claims, producer price and manufacturing index numbers.
The S&P/TSX composite index gained 22.08 points to begin Thursday trading at 13,452.09
The Canadian dollar doffed 0.42 cents to 95.30 cents U.S.
Gildan Activewear reported a 9% rise in fourth-quarter profit, helped by lower cotton prices and higher sales in its printwear business. Gildan shares retreated 3.3% to $49.59.
Niko Resources said CEO Ed Sampson will retire at the end of the calendar year and will be replaced by Frederic Brace on an interim basis from Jan. 1. Shares in Niko jumped 13 cents, or 7.7%, to $1.82.
Oncolytics Biotech said its lead cancer drug improved survival rates in patients with head-and-neck cancer, compared to those receiving chemotherapy alone. Oncolytics shares tumbled 26 cents, or 9.9%, to $2.37.
On the economic slate, Statistics Canada declared that Canadians drawing employment insurance in September dipped by 7,100, or 1.4%, to 503,800.
Compared with September 2012, the number of beneficiaries was down 8.8%.
ON BAYSTREET
The TSX Venture Exchange recovered 3.01 points to 918.03
All but four of the 14 TSX subgroups were higher, led by health-care, up 1.1%, while telecoms and utilities each spiked 0.7%.
The four laggards were weighed mostly by gold, slid 2.1%, materials, fading 1.2%, and the metals and mining group, losing 0.6%.
ON WALLSTREET
Stocks were higher Thursday, following three straight days in the red for the S&P 500 and NASDAQ.
The Dow Jones Industrials gained 62.19 points, to begin the session at 15,963.
The S&P 500 index hiked 8.29 points to 1,789.66. The NASDAQ sprang up 31.06 points to 3,952.33.
Target shares took a dive after the discount retailer reported lower-than-expected comparable same-store sales for the third quarter. Target blamed "an environment where consumer spending remains constrained" for the weakness, a troubling sign ahead of the key holiday shopping period. Target also trimmed its profit forecast for the year.
Shares of Abercrombie & Fitch also dropped, after the retailer reported a quarterly loss and CEO Mike Jeffries said he expects weakness in revenue to continue into the fourth quarter.
Sears Holdings also reported a deepening quarterly loss on weak sales.
While the retailers were hurting, shares of Green Mountain Coffee Roasters rallied following quarterly earnings that beat market expectations. The company also boosted its stock buyback and announced that it will begin to pay a dividend.
Meanwhile, investors are waiting for the Senate Banking Committee to vote on Janet Yellen's confirmation Thursday. Yellen, the current vice chair of the Fed, has been nominated to lead the Federal Reserve after Ben Bernanke's term ends in early 2014.
Prices for 10-year U.S. Treasuries moved lower, raising yields to 2.82% from Wednesday’s 2.79%. Treasury prices and yields move in opposite directions.
Oil prices took on 47 cents at $94.32 U.S. a barrel.
Gold prices slumped $21 to $1,237 U.S. an ounce.
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