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TSX Enjoys 5th Straight Positive Open

Western Alliance, PacWest in Spotlight

Equities in Canada’s largest market opened higher for the fifth consecutive session on Thursday, aided by gains in energy and mining stocks.

The TSX gained 60.01 points to commence trading Thursday at 19,897.66.

The Canadian dollar added 0.17 cents to 73.87 cents U.S.

Atco acquired 40 cents to $43.02, after agreeing to transfer ownership of an unfinished pipeline bogged down in a dispute with the Mexican state power company.

CIBC started coverage of miner Filo Mining with an "outperform" rating and a target price of $38. Shares of Filo jumped 89 cents, or 4.1%, to $22.51.

TD Securities has started covering Pet Valu Holdings with a "buy" rating and a price target of $45.00. Pet Valu shares leaped 97 cents, or 2.7%, to $37.21.

On the economic front, Statistics Canada reported the number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—rose by 71,100 (+0.4%) in January, following an increase of 53,700 (+0.3%) in December 2022.


The TSX Venture Exchange grew 1.62 points to 625.23.

Eight of the 12 TSX subgroups were higher, with real-estate surging 0.8%, while information technology and utilities ahead 0.7% each.

The four laggards were weighed most by health-care and energy, each down 0.2%, and gold, dipping 0.1%.


Stocks rose Thursday, building on the sharp gains from the previous session, as traders bet the regional banking crisis has stabilized.

The Dow Jones Industrials leaped 323.35 points, or 1%, to 32,717.60.

The S&P 500 recovered 56.54 points, or 1.4%, to 4,027.81.

The NASDAQ jumped 210.16 points to 11,926.24.

Regional bank stocks were on the rise, as such equities warmed to an apparent improvement of the situation. Shares of Western Alliance and PacWest gained more than 2% each.

Weekly jobless claims increased by 7,000 to 198,000, adding to hopes that the Fed could slow down its tightening campaign because the labor market is cooling. Elsewhere, Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari are all slated to speak in the afternoon.

Prices for the 10-year Treasury were unchanged, maintaining yields at Wednesday 3.57%

Oil prices regained 24 cents to $73.21 U.S. a barrel.

Gold prices improved $2.10 to $1,986,60 U.S. an ounce.