Stocks in Canada’s largest market rose on Thursday as energy and financials stocks gained, while shares of technology company BlackBerry jumped after posting a surprise profit.
The TSX gained 18.99 points to open Thursday at 19,837.84.
The Canadian dollar retreated 0.05 cents to 75.40 cents U.S.
BlackBerry shares, for their part, sprinted 65 cents, or 9.8%, to $7.26.
Elsewhere, Paramount Resources slipped 13 cents to $28.65 after National Bank of Canada downgraded the energy company's rating to "sector perform" from "outperform".
Corus Entertainment reported a third-quarter loss versus a year-earlier profit. Corus shares gathered five cents, or 4.1%, to $1.28.
A media report stated that telecom major Rogers would be cutting jobs as the company integrates with recently acquired peer Shaw. Rogers shares pushed ahead eight cents to $60.33.
Statistics Canada revealed the number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—decreased by 25,100 (-0.1%) in April, excluding federal government public administration.
ON BAYSTREET
The TSX Venture Exchange shed 2.12 points to 609.77.
Seven of the 12 TSX subgroups lost ground, with materials and utilities each dropping 0.6%, while gold fell 0.5%.
The five gainers were co-led by energy and health-care, up 0.9% each, while consumer discretionary stocks hiked 0.5%.
ON WALLSTREET
The Dow Jones Industrial Average gained on Thursday as big bank names rose after passing the Federal Reserve’s annual stress test and a revised upward GDP print dashed some recession fears.
The 30-stock index shot higher 207.14 points to open Thursday at 34,059.80, lifted by major bank names.
The S&P 500 squeezed ahead 7.87 points to 4,384.73.
The NASDAQ index slid 20.07 points to 13,571.68.
JPMorgan Chase, Bank of America and Wells Fargo rose more than 3% each. Other financial stocks hit during this year’s banking crisis also gained, including Charles Schwab, Western Alliance and Zions Bancorporation.
A bout of positive economic data signaled economic resilience despite looming recession fears. That included a large upward revision in first-quarter GDP and drop in jobless claims data to the lowest level since May.
Just two trading days remain in what’s been a banner first half. The S&P 500 is up 14% this year and on pace for its best monthly performance since January. The tech-heavy NASDAQ has climbed nearly 30% — heading toward its best first half since 1983 — as rising optimism around artificial intelligence pushed up a slew of tech names and chipmakers. The blue-chip Dow is the relative underperformer, up just 2% this year.
Prices for the 10-year Treasury went earthward, propelling yields higher to 3.86% from Wednesday’s 3.71%. Treasury prices and yields move in opposite directions.
Oil prices progressed 83 cents to $70.39 U.S. a barrel.
Gold prices faltered $6.20 to $1,915.90 U.S. an ounce.
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