Stocks Continue in Higher Territory

K92, OceanaGold in Focus

Canada's main stock index jumped to a more than one-month high on Thursday as energy and mining shares gained on firmer commodity prices, although uncertainty around the Russia-Ukraine crisis capped gains.

The S&P/TSX Composite Index remained positive 212.33 points, or 1%, by noon hour to 21,681.16.

The Canadian dollar added 0.19 cents to 79.01 cents U.S.

Mining stocks chugged ahead, primarily K92 Mining, up 49 cents, or 6%, to $8.62, while First Majestic Silver sprang up $1.17, or 6.8%, to $18.27.

Among gold stocks, Iamgold picked up 29 cents, or 7.2%, to $4.32, while OceanaGold added 24 cents, or 9.1%, to $2.89.

In the oil patch, Birchcliff Energy accumulated 39 cents, or 5.9%, to $6.98, while Tourmaline Oil gained $2.24, or 4.6%, to $51.37.


The TSX Venture Exchange popped another 18.66 points, or 2.3%, to 848.37

All but one of the 12 TSX subgroups were positive midday, as materials surged 3.3%, energy gushed 3.2%, and gold brightened 2.8%.

Industrials proved the lone laggard, giving back 0.3%.


U.S. stocks were little changed Thursday, following back-to-back days of sharp gains, as investors digested the latest news out of Ukraine.

The Dow Jones Industrials found their way higher 32.67 points to pause for lunch at 34,096.77

The S&P 500 points gathered 7.18 points to 4,365.04.

The NASDAQ Composite inched up 1.96 points to 13,438.51.

Travel stocks were lower across the board. United, Delta and JetBlue lost more than 3%. Royal Caribbean Cruise Lines fell 2.5%. Marriott and Expedia lost more than 1% each.

Chinese stocks also slid after rallying, some by more than 40%, in the previous session after China signaled support for overseas listings. Tencent Music Entertainment lost 13%, and Alibaba fell about 7.4%.

The Kremlin poured cold water over reports that indicated progress in peace talks between Russia and Ukraine, according to Bloomberg News.

On Wednesday, the Financial Times reported that both countries had made "significant progress" on a peace plan and Russian withdrawal from Ukraine. That FT report helped stocks rally for a second day Wednesday.

Wall Street was also digesting the latest moves from the Federal Reserve. The Fed hiked its benchmark interest rate for the first time since 2018 and signaled six more hikes this year, spurring a relief rally in stocks.

The U.S. Labor Department reported Thursday that the number of jobless claims filed last week totaled 214,000, which was better than the Dow Jones estimate of 220,000 and a decline from 15,000 in the previous week.

Treasury prices gained slightly, lowering yields to 2.16% from Wednesday’s 2.18%. Treasury prices and yields move in opposite directions.

Oil prices jumped $7.20 to $102.64 U.S. a barrel.

Gold prices recovered $39.00 to $1,948.20 U.S. an ounce.