Canada's main stock index opened higher on Thursday, helped by a boost in materials shares as prices of most metals rose, while upbeat earnings from e-commerce firm Shopify and gold miner Barrick Gold further lifted sentiment.
The TSX Composite jumped 336.23 points, or 1.8%, to open Thursday at 19,415.23.
The Canadian dollar leaped 0.32 cents at 72.59 cents U.S.
Shopify shares popped $13.66. or 20.2%, to $81.32, while those for Barrick dropped 24 cents, or 1.1%, to $22.00.
In corporate news, a consortium led by Brookfield Asset Management accused Origin Energy's largest shareholder, AustralianSuper, of "holding the company hostage" after it rejected a sweetened A$16.4 billion ($10.55-billion U.S.) takeover offer for Australia's biggest energy retailer. Brookfield shares pointed higher $1.15, or 2.8%, to $41.98.
Canadian Natural Resources shares flew $1.28, or 1.4%, to $90.99, after the oil and gas producer reported lower third-quarter profit.
ON BAYSTREET
The TSX Venture Exchange gained 2.67 points to 518.49.
All but one of the 12 TSX subgroups were positive in the first hour, with information technology up 5.7%, health-care, ahead 2.6%, and real-estate, ahead 2.2%.
Only gold lost ground, off 0.6%.
ON WALLSTREET
Stocks gained Thursday as Treasury yields fell, with investors betting the Federal Reserve could be done raising rates for 2023.
The Dow Jones Industrials vaulted 279.21 points to 33,553.79.
The S&P 500 index progressed 49.19 points, or 1.2%, to 4,287.05.
The NASDAQ surged 143.35 points, or 1.1%, to 13,204.81.
Thursday’s gains put the S&P 500 and Dow on track for their biggest weekly gain of the year.
The rally was broad-based, with all 11 S&P 500 sectors trading in positive territory. Gains were led by real estate, consumer discretionary and materials, each up by more than 1%.
Thursday’s gains put the S&P 500 and Dow on track for their biggest weekly gain of the year.
The rally was broad-based, with all 11 S&P 500 sectors trading in positive territory. Gains were led by real estate, consumer discretionary and materials, each up by more than 1%.
Prices for the 10-year Treasury jumped, lowering yields to 4.66% from Wednesday’s 4.76%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.27 to $81.71 U.S. a barrel.
Gold prices recouped $2.80 to $1,990.30.
