Canada's main stock index rose on Thursday, boosted by energy and materials stocks tracking higher prices of most commodities, while U.S. September core inflation came in line with expectations, cementing bets for a rate hike pause.
The TSX Composite faded 56.86 points to open Thursday at 19,606.99.
The Canadian dollar sank 0.2 cents at 73.35 cents U.S.
Air Canada has been sued by Miami-based transport and security services provider Brink's, which accused the airline of "negligence and carelessness" related to a gold and cash heist at a Toronto cargo facility in April. Shares in “The Maple Leaf Airline” handed back 25 cents, or 1.3%, to $18.53.
ON BAYSTREET
The TSX Venture Exchange dipped 1.2 points to begin Thursday trading at 533.45.
All but one of the 12 TSX subgroups were lower, with real-estate down 0.9%, while materials and health-care each capsized 0.8%.
Only energy stocks were positive, pumping 0.6% higher.
ON WALLSTREET
U.S. stocks lower Thursday as investors looked toward new consumer inflation data for greater insight on the economy.
The Dow Jones Industrials tumbled 139 points to open the Thursday session at 33,665.87.
The S&P 500 index shed 7.62 points to 4,369.33.
The NASDAQ index gained 26.31 points at 13,685.99.
The consumer price index increased 0.4% on the month and 3.7% from a year ago, according to a U.S. Labor Department report released Thursday. Dow Jones estimates were 0.3% and 3.6%, respectively. The core inflation number, excluding food and energy prices, came out in line with economists’ expectations at an increase of 0.3% on the month and 4.1% on a 12-month basis. The data comes following a stronger-than-expected producer price index for September.
Prices for the 10-year Treasury ditched earlier gains, raising yields to 4.64% from Wednesday’s 4.56%. Treasury prices and yields move in opposite directions.
Oil prices recovered $1.39 to $87.21 U.S. a barrel.
Gold prices slid 70 cents to $1,886.60.
