Toronto stocks rebounded on Thursday, lifted by energy stocks, while Teck Resources surged after report that India's JSW Steel is considering picking up a majority stake in the Canadian miner's steelmaking coal business.
The TSX remained buoyant 32.32 points midday to 19,931.39.
The Canadian dollar recovered 0.13 cents to 73.99 cents U.S.
Teck, for its part, jumped $2.46, or 4.9%, to $52.82.
Economically speaking, Statistics Canada reports Canadian investors acquired $14.4 billion of foreign securities in June, the largest investment in seven months. Meanwhile, foreign investors increased their holdings of Canadian securities by $12.6 billion, following two months of strong investment.
ON BAYSTREET
The TSX Venture Exchange eased back 0.88 points to 590.48.
Eight of the 12 TSX subgroups lost ground by lunch hour, with information technology flailing 1.2%, communications fading 1%, and gold dulled in price 0.8%.
The four gainers were led by energy, rumbling 1.8%, health-care, improving 0.9%, and materials, better by 0.5%.
ON WALLSTREET
The S&P 500 was little-changed Thursday as investors digested the latest round of earnings and economic data, while assessing the outlook for Federal Reserve monetary policy.
The Dow Jones Industrials sank 37.06 points to pause for lunch Thursday at 34,728.68
The much-broader index dipped 4.01 points to 4,400.32.
The NASDAQ index ditched 55.95 points to 13,418.67.
Computer networking company Cisco Systems gained 4% on a better-than-expected quarterly earnings report. Meanwhile, Walmart inched lower trading after even after reporting an earnings and revenue beat in the fiscal second quarter. The company also raised its full-year guidance and underscored strength in grocery and online sales.
Ross Stores and Applied Materials are scheduled to report quarterly results after the bell Thursday.
Jobless claims for the week ended Aug. 12 fell from the previous period and came in slightly under the Dow Jones estimate. The Philadelphia Federal Reserve also reported an uptick in its manufacturing index in August.
Prices for the 10-year Treasury staggered, raising yields to 4.31% from Wednesday’s 4.27%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.36 to $80.74 U.S. a barrel.
Gold prices slipped $5.30 to $1,923.00 U.S. an ounce.
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