Equities staged another gain Thursday in Toronto, led by financials after the European Central Bank unveiled measures to stimulate growth, although lower oil prices weighed on energy stocks.
The S&P/TSX Composite Index moved higher 95 points to kick things off Thursday at 13,487.90, having enjoyed nine positive sessions in the last 10.
The Canadian dollar deducted 0.17 cents to 75.32 cents U.S.
RBC raised the target price Imperial Oil to $46.00 from $44.00, with a sector perform rating. IMO shares inched up four cents to $44.17.
CIBC cut the rating on Manitoba Telecom Services to sector perform. Manitoba Telecom shares dropped 38 cents, or 1.1%, to $33.11.
CIBC raised the target price on Transcontinental Inc. to $22.00 from $21.00.
Transcontinental shares were unchanged at $19.90 early Thursday.
On the economic slate, Statistics Canada reports its new housing price index rose 0.1% in January, following an identical increase in December.
The agency says the advance was led by higher new home prices in Vancouver and the combined region of Toronto and Oshawa. The increase was largely moderated by lower or unchanged prices in two-thirds of the metropolitan areas.
ON BAYSTREET
The TSX Venture Exchange recovered 4.63 points to 574.25
All but two of the 13 TSX subgroups were positive to start the day, with metals and mining soaring 3.7%, gold shining 3.4% brighter, and materials up 2.5%
The two laggards were consumer staples, staggering 0.3%, and information technology, off 0.1%.
ON WALLSTREET
Equities across the border traded higher Thursday after the European Central Bank announced more stimulative measures, including expansion of its asset purchase program and rate cuts.
The Dow Jones Industrial average moved up 54.28 points to 17,054.64, with Goldman Sachs contributing the most to gains and Exxon Mobil the greatest weight.
The S&P 500 added 11.4 points to 2,000.56, with health-care leading nine sectors higher and energy the only decliner.
The NASDAQ index gained 22.5 points to 4,696.88.
In U.S. economic news, weekly jobless claims declined 18,000 to a seasonally adjusted 259,000 for the week ended March 5, the lowest reading since mid-October, the U.S. Labor Department said.
The prior week's claims were revised to show 1,000 fewer applications received than previously reported.
ECB President Mario Draghi also surprised markets, however, by saying he didn't anticipate a need to reduce rates further, although new facts can change the situation
Prices for the 10-year Treasury faded, raising yields to 1.91% from Wednesday’s 1.88%. Treasury prices and yields move in opposite directions.
Oil prices docked 68 cents a barrel to $37.61 U.S.
Gold prices improved $12.46 to $1,265.69 U.S. an ounce.
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