Canada's main stock index rose in choppy trading on Thursday as gains in the energy and mining sectors helped offset concerns about global economic growth.
The S&P/TSX composite index recovered from a loss of more than 240 points in the early going to shoot 179.03 points, or 1.3%, by noon to 14,048.91
The Canadian dollar slumped 0.08 cents at 88.79 cents U.S.
The Toronto stock market's benchmark TSX index has lost nearly 12% of its value since reaching a record high last month.
Shares of energy producers got a bounce after recent weakness. Canadian Natural Resources Ltd added 1.9% to $36.72, and Suncor Energy climbed 1.6% to $36.88.
The materials sector, which includes mining stocks, advanced Barrick Gold jumped 2.2% to $15.57.
Financials gave back, as Royal Bank of Canada lost 0.8% to $76.68, and Bank of Montreal shed 0.4% to $78.01.
Economically speaking, Canadian manufacturing sales fell 3.3% in August to $52.1 billion, the first decline in 2014.
Statistics Canada also reported that foreign investment in Canadian securities totaled $10.3 billion in August and included both debt and equity instruments. Canadian investment in foreign securities decelerated from July, with holdings largely unchanged as acquisitions of non-U.S. foreign instruments were offset by a divestment in U.S. instruments.
ON BAYSTREET
The TSX Venture Exchange regained 5.55 points to 783.91.
All but four of the 14 Toronto subgroups were higher by noon, as energy recovered 2.8%, industrials were up 2.2%, and gold improved 1%.
The four laggards were weighed by metals and mining, down 1.2%, global base metals, off 0.6%, and real-estate, sliding 0.3%.
ON WALLSTREET
U.S. stocks moved marginal higher on Thursday, as fears abated that the market has farther to fall.
The Dow Jones Industrials inched higher 0.28 points to 16,142.02.
The S&P 500 inched higher 4.15 points to 1,866.04. The NASDAQ index gained 5.72 points to 4,221.04.
Initial weekly jobless claims dropped to the lowest level in more than 14 years, while industrial production climbed 1% in September.
The results season continued at full speed on Thursday, with a heavy lineup ahead of the opening bell.
Goldman Sachs reported third-quarter earnings of $4.57, beating a consensus estimate from FactSet of $3.21, but reported higher expenses. Shares fell 2%.
Delta Air Lines rose 2.6% after reporting third-quarter results.
Tobacco maker Philip Morris International reported third-quarter profit that topped expectations, but cut its full-year outlook citing the negative impact from the currency markets. Shares were little changed.
Toy maker Mattel Inc. posted earnings and sales that fell short of expectations as gross sales of its flagship Barbie doll fell 21% world-wide. Shares dropped 4.6%.
UnitedHealth Group Inc. reported third-quarter profit of $1.63 U.S. a share, beating estimates of EPS of $1.53 U.S. Shares rose 4.5%.
Baker Hughes Inc. shares dropped 9.4% after the oil-field-services company reported earnings per share that fell short of forecasts.
Netflix Inc. shares sank 23%, after the video-streaming company on Wednesday said its new-subscriber count fell short of its forecast of 3.69 million. It added 3.02 million new members during the quarter.
EBay Inc. lost 5% after the online retailer late Wednesday reported third-quarter earnings fell to $673 million U.S., or 54 cents a share, from $837 million U.S., or 53 cents a share, in the year-earlier period.
Apple Inc. was down 1.8%, ahead of a scheduled event where the tech giant is expected to launch new iPads and the latest in the iMac line.
Prices for 10-year U.S. Treasuries slipped, raising yields to 2.16% from Wednesday’s 2.09%. Treasury prices and yields move in opposite directions.
Oil prices were still negative four cents to $81.74 U.S. a barrel.
Gold prices subsided $1.80 to $1,242.90 U.S. an ounce.
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