Stocks in Canada’s biggest market opened fairly flat on Thursday, as investors shook off the initial excitement over the U.S. Federal Reserve announcement.
The S&P/TSX composite index dipped 5.06 points to open Thursday at 15,104.19.
The Canadian dollar climbed 0.14 cents at 92.42 cents U.S.
The index reached its highest level in six years on Wednesday and came within striking distance of its all-time high after the Fed shed some light on its plans to raise interest rates.
The Canadian dollar inched up 0.07 cents to 92.35 cents U.S. early Thursday
BlackBerry reported a narrower than expected adjusted loss even as revenue fell in the midst of the troubled smartphone maker's turnaround push. Shares in the company once known as Research In Motion shot ahead $1.25, or 13.9%, to $10.25.
Enbridge said on Wednesday its CFO, Richard Bird, would retire at year-end. It also said that its plan to replace the Line 3 oil pipeline carrying Alberta crude oil to the United States will be more expensive than originally estimated, pegging the cost at $7.5 billion.
Enbridge shares ditched 81 cents to $50.57.
Quebecor’s new CEO, Pierre Dion, said his company would consider buying small rivals to become a national wireless carrier that reaches most Canadians. Quebecor shares were static at $27.50.
Raymond James cut the rating on Cameco Corp to market perform from outperform. Cameco shares faded 33 cents soon after the opening bell to $21.24.
On the economic front, Statistics Canada told us that those Canadians drawing employment insurance numbered 517,100 in April, up 5,600, or 1.1%, from March.
The agency says the number of beneficiaries has been relatively unchanged for almost a year, following a long-term downward trend that began in the summer of 2009.
ON BAYSTREET
The TSX Venture Exchange gained 5.98 points to begin Thursday at 1,014.80
Nine of the 14 Toronto subgroups were lower to begin the day, with consumer staples and health-care down 0.4% each, while financials slid 0.3%.
The five gainers were led by gold, up 2.3%, while information technology and materials gained 1.6% each.
ON WALLSTREET
Equities in New York were finding their way Thursday after achieving record levels Wednesday
The Dow Jones Industrials dipped 7.51 points soon after the opening bell to 16,899.11
The S&P 500 demurred 0.03 points to 1,956.95 from Wednesday’s record, and the NASDAQ composite fell 4.80 points to 4,358.04
Shares in American Apparel rose ahead of the market open. The company announced overnight that it fired its controversial CEO, though it didn't say why.
Its shares, which topped $15.00 U.S. as recently as 2007, now trade for less than $1.00 U.S.
Amazon shares were just slightly higher after the company unveiled the Fire Phone, a high-end, 3-D smartphone. It is the first smartphone Amazon has produced on its own.
Shares in Facebook slipped slightly in pre-market trading after an outage that prevented users posting to the social media site "for a brief period of time."
A number of companies are reporting results Thursday.
BlackBerry shares jumped 9% in pre-market trading, after the Canadian smartphone maker reported a smaller-than-expected loss.
Rite Aid shares jumped. The drugstore chain reported a slump in quarterly net income, compared to the year-earlier quarter.
Kroger is also expected to report earnings before the start of trading. Oracle and Smith & Wesson will report after the close.
Prices for 10-year U.S. Treasuries chugged ahead, lowering yields to 2.57% from Wednesday’s 2.61%. Treasury prices and yields move in opposite directions
Oil prices fell 30 cents to $105.67 U.S. a barrel.
Gold prices improved $22.60 at $1,295.30 U.S. an ounce.
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