Stocks in Toronto were virtually unchanged Thursday morning, with energy and mining stocks leading gains and banks and telecom stocks down a day after minutes from the U.S. Federal Reserve's last meeting showed division over whether to raise rates.
The S&P/TSX Composite faded 0.64 points to open at 14,696.96
The Canadian dollar picked up 0.19 cents to 78.05 cents U.S.
Barclays raises target price on Bank of Montreal to $75 from $70 with an underweight rating. BMO shares slid 25 cents to $83.82.
National Bank Financial upped the target on NorthWest Healthcare to $11.00 from $10.50. NorthWest units dipped a dime to $10.60.
Canaccord Genuity raised the target on TransGlobe Energy to $4.00 from $3.00 with a buy rating. TransGlobe shares galloped 15 cents, or 5.9%, to $2.71.
On the economic scene, Statistics Canada reported that foreign investors increased their holdings of Canadian securities by $9.0 billion in June, with acquisitions led by significant portfolio investment in equities. At the same time, Canadian investors acquired $4.1 billion of foreign securities, mainly non-U.S. foreign equities.
What’s more, the agency went on to say those drawing regular Employment Insurance (EI) benefits in Canada totaled 545,900 in June, essentially unchanged from May. Compared with 12 months earlier, the number of people receiving regular EI benefits was up by 8,000 or 1.5%.
ON BAYSTREET
The TSX Venture Exchange regained 5.27 points to 833.75
Seven of the 13 subgroups were positive to begin the session, with energy and gold each climbing 0.8%, while health-care picked up 0.6%.
The half-dozen laggards were weighed most by telecoms, down 0.5%, financials and information technology each off 0.4%.
ON WALLSTREET
U.S. equities traded mixed Thursday as investors digested fresh economic data as well as the minutes from the Federal Reserve's July meeting.
The Dow Jones Industrials sagged 4.28 points to 18,573.94, with Caterpillar leading decliners and Wal-Mart the top advancer.
The S&P 500 gained 0.69 points to 2,182.82, with energy leading five sectors higher and telecoms the biggest laggard.
The NASDAQ Composite picked up 5.27 points to 5,233.92
Investors also digested quarterly results from Dow component Wal-Mart, which reported better-than-expected earnings and revenue and raised its full-year guidance. Wal-Mart shares were up 3% in the pre-market.
On the data front, weekly jobless claims fell 4,000 to 262,000, while the August Philadelphia Fed business index came in line with expectations. Leading indicators were set to be released later on.
Prices for the 10-year Treasury were unchanged, leaving yields at Wednesday’s 1.55%.
Oil prices hiked 90 cents a barrel to $47.69 U.S.
Gold prices regained $6.50 to $1,355.30 U.S. an ounce.
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