Equity markets in Toronto rose on Thursday as financials, gold and energy stocks led gains, despite crude prices turning negative and investors jitters about next steps for central banks.
The S&P/TSX Composite grew 145.72 points, or 1%, to greet noon at 14,512.18. The index had lost around 3% of its value since last Thursday's close.
The Canadian dollar strengthened 0.27 cents to 76.05 cents U.S.
Teck Resources Ltd advanced 3.3% to $23.53.
The heavyweight financial sector gained with Manulife Financial up 1.5% to $18.03. Toronto-Dominion Bank advanced 0.6% to $57.32 after selling home improvement financing assets with a book value of about $339 million.
Cenovus Energy rose 1.9% to $18.10, and Encana added 2.1% to $12.69.
Industrials rose, with SNC Lavalin, advancing 2.1% to $53.90 after CIBC raised the company's rating to outperform and also upped its price target on the stock.
On the economic slate, the Canadian Real Estate Association reported Thursday that national home sales declined for a fourth consecutive month last month, falling 3.1% from July to August.
CREA says actual (not seasonally-adjusted) activity came in 10.2% above August 2015. The number of newly listed homes declined 2.7% from July to August.
ON BAYSTREET
The TSX Venture Exchange moved upward 1.25 points to 803.60
All 12 TSX subgroups were positive by noon hour, with materials bolting 1.8%, gold triumphing 1.7%, and energy better by 1.4%.
ON WALLSTREET
U.S. stocks traded higher on Thursday as investors parsed through a series of economic data as the Federal Reserve's next meeting draws near.
The Dow Jones Industrials galloped 109.88 points to 18,144.65, with Apple contributing the most to gains.
The S&P 500 moved upward 13.16 points to 2,138.93, with information technology and energy rising more than 1% to lead advancers.
The NASDAQ Composite jumped 54.74 points, or 1.1%, to 5,228.41, with Apple gaining approximately 3%. The iPhone maker's stock was up more than 11% for the week.
Initial jobless claims came in at 260,000, slightly below expectations, while August Producer Price Index came in unchanged, missing expectations. Retail sales for August missed expectations, falling more than expected. Meanwhile, industrial production fell 0.4% in August, more than the expected 0.3% slide.
Business inventories for July came in unchanged versus an estimated rise of 0.1%.
Prices for the 10-year Treasury dipped, raising yields to 1.72% from Wednesday’s 1.7%. Treasury prices and yields move in opposite directions
Oil prices gained 71 cents at $44.29 U.S. a barrel
Gold prices dipped $4.70 at $1,321.40 U.S. an ounce.
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