Markets in Toronto shot ahead by midday Thursday, led by base metals and energy issues, as investors reckon Britons will vote to remain in the European Union.
The S&P/TSX Composite moved ahead 140.75 points, or 1%, to greet noon at 14,144.56
The Canadian dollar recovered 0.54 cents to 78.41 cents U.S.
Metals stocks such as Potash Corporation of Saskatchewan flourished, gaining 6.3% to $22.53, while First Quantum Minerals marched forward 6.4% to $9.93.
Energy issues were also strong, most notably Suncor, up 2.3% to $35.60, while Baytex Energy climbed 2.3% to $7.60.
Consumer staples did well Thursday morning, as Metro jumped 1.1% to $44.22, while Loblaw gained 0.8% to $69.21.
Gold stocks took some of the sheen off the markets as Kinross Gold fell 2.1% to $6.21, while Yamana Gold also lost 2.1% to $6.21
On the economic slate, Statistics Canada reported that folks collecting employment insurance totaled 538,400 during April, down slightly from the previous month
ON BAYSTREET
The TSX Venture Exchange eased 0.89 points to 707.63
All but two of the 13 subgroups stayed positive by noon, as metals and mining triumphed 3.2%, energy raced ahead 1.8% and consumer staples, ahead 1.6%.
The two laggards were gold, duller by 0.9%, while real-estate faded 0.1%.
ON WALLSTREET
U.S. stocks traded about 1% higher Thursday as the pound traded near year-to-date highs against the greenback, following increased expectations that the U.K. will vote to remain in the European Union.
The Dow Jones Industrials moved skyward 174.60 points, or 1%, to 17,955.43, with Goldman Sachs rising more than 2.5% for the greatest positive impact on the index as almost all member stocks advanced
The S&P 500 recouped 20.64 points, or 1%, at 2,106.09. Financials, which are also sensitive to the results of the EU referendum, rose 1.5% to lead most S&P 500 sectors higher.
The NASDAQ jumped 59.45 points, or 1.2%, to 4,892.77.
App developer tool firm Twilio opened at $23.99 U.S. a share after pricing its initial public offering at $15.00 a share, above the expected $12.00 to $13.00 U.S. a share range.
Macy's announced Thursday its CEO Terry Lundgren will step down from that position next year.
In economic news, weekly jobless claims fell to 259,000, not far from a 43-year low touched in March.
The flash Markit manufacturing PMI for June was 51.4, up from 50.7 in May.
New home sales declined 6% in May to a seasonally-adjusted annual rate of 551,000 units.
U.S. stocks closed lower Wednesday, as declines in energy stocks weighed, and investors remained on edge ahead of the Brexit vote after a poll indicated a slight edge for “leave” over “remain”. Separate polls released after the close indicated more support for
"remain".
The results of the U.K. vote on whether to leave the European Union are due well after Thursday's U.S. market close.
Moreover, the U.S. Federal Reserve is set to release the first results from the annual bank stress tests after the close.
Prices for the 10-year Treasury moved sagged, raising yields to 1.73% from Wednesday’s 1.69%. Treasury prices and yields move in opposite directions.
Oil prices grew 37 cents a barrel to $49.50 U.S.
Gold prices dropped $4.20 to $1,265.80 U.S. an ounce.
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