Stocks in Toronto were in plus-country Wednesday, though not by very much, as the Bank of Canada’s announcement struck something of a note of caution.
The S&P/TSX Composite climbed into positive territory 16.13 points to close Wednesday at 14,493.80
The Canadian dollar regained 0.33 cents to 77 cents U.S.
Gold stocks shone brightest in the mid-week session, as Yamana Gold improved 17 cents, or 2.3%, to $7.67, while Barrick Gold took on 47 cents, or 1.8%, to $27.36.
Also strong was the consumer staples sector, with Alimentation Couche-Tard hiking $1.41, or 2.4%, to $59.25, while Metro shares grew 77 cents, or 1.7%, to $47.22.
Health-care stocks took the biggest drubbing, as Valeant Pharmaceuticals collapsed $2.12, or 7%, to $28.15, while Concordia International lost 48 cents, or 1.8%, to $26.67.
Among energy issues, EnCana Corporation gave back 41 cents, or 3.9%, to $10.15, while Baytex Energy slid 26 cents, or 3.5%, to $7.24.
In the tech field, BlackBerry doffed 14 cents, or 1.5%, to $8.69.
The Bank of Canada held its benchmark interest rate steady at 0.5% on Wednesday, the same level at which it has been since last summer.
The central bank also cut its growth forecast for 2016, saying exports continued to disappoint and acknowledging it may have underestimated structural challenges facing businesses.
ON BAYSTREET
The TSX Venture Exchange gained 8.1 points to 757.69
Seven of the 13 subgroups were higher by day’s end, as gold climbed 2.1%, materials improved 1.8%, and consumer staples charged ahead 1%.
The half-dozen laggards were weighed mostly by health-care, off a hefty 2.8%, energy, sagging 1.5%, and information technology, down 0.4%.
ON WALLSTREET
U.S. stocks traded in a narrow range Wednesday as investors tried to reach further into record highs.
The Dow Jones Industrials gained 24.45 points on top of Tuesday’s all-time high to 18,372.12, with Microsoft leading advancers and Home Depot the top decliner.
The S&P 500 squeezed 0.29 points to 2,152.43, with utilities leading seven sectors higher and energy biggest laggard.
The NASDAQ Composite Index demurred 17.09 points to 5,005.73
Economically speaking, U.S. import prices for June rose 0.2%, missing estimates, while export prices gained 0.8%.
The Federal Reserve released the latest edition of its Beige Book, which said economic activity in most regions increased at a modest pace.
Prices for the 10-year Treasury gained, lowering yields to 1.48% from Tuesday’s 1.51%. Treasury prices and yields move in opposite directions.
Oil prices moved lower $1.87 a barrel to $44.93 U.S.
Gold prices jumped $8.40 to $1,343.70 U.S. an ounce.
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