Equities in Toronto surged to a record high at open on Thursday, as miners rose on the back of stronger gold prices.
The S&P/TSX Composite jumped 141.76 points to kick off Thursday at 21,603.69
The Canadian dollar plummeted 0.59 cents at 79.49 cents U.S.
CIBC raised the rating on Aurora Cannabis to neutral from underperform. Aurora shares gained 33 cents, or 3.7%, to $9.20.
CIBC cut the rating on Element Fleet Management to neutral from outperform. Element Fleet shares plummeted $1.33, or 9.7%, to $12.40.
RBC raises target price on WSP Global to $196.00 from $172.00. WSP shares galloped $7.37, or 4.1%, to $186.02.
Political leaders in Ontario have suspended a plan to lift restrictions on the number of people who can congregate in restaurants, bars and other settings, saying a cautious approach was needed with a rise in COVID-19 infections.
ON BAYSTREET
The TSX Venture Exchange rebounded 15.25 points, or 1.6%, to 997.77.
All but three of the 12 TSX subgroups were higher in the first hour, with gold soaring 3%, materials mightier by 2.6%, and health-care leaping 2.4%.
The three laggards were utilities, which fell 1%, communications, down 0.4%, and real-estate, off 0.2%.
ON WALLSTREET
U.S. stocks moved higher Thursday after hot inflation data and surging bond yields sparked a sell-off in technology stocks Wednesday.
The Dow Jones Industrials backed off 88.21 points, to begin Thursday at 35,991.73, weighed down by Disney’s 8% drop.
The S&P 500 moved back up again 6.67 points to 4,653.85.
The NASDAQ Composite jumped 98.22 points to 15,720.92.
Nvidia rallied about 2% and AMD added more than 1%. Big Tech stocks like Facebook-parent Meta and Google-parent Alphabet both rose.
On the downside, Disney shares fell more than 8% after the media giant missed on the top and bottom lines of its quarterly results. Disney+ subscribers also came in short of estimates.
The bond market is closed Thursday for Veterans Day.
Oil prices gained 71 cents to $82.05 U.S. a barrel.
Gold prices added $16.50 to $1,864.90 U.S. an ounce.
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