The Toronto stock market registered a modest gain Thursday amid a relatively quiet session with U.S. markets closed for the Thanksgiving holiday.
The S&P/TSX composite index strengthened 24.93 points to greet noon Thursday at 13,386.99
The Canadian dollar inched up 0.03 cents to 94.42 cents U.S.
A major gainer was Halifax-based DHX Media Ltd. Its stock soared $1.03 or 24.7% to $5.20 after it said it will pay about $170 million cash to buy several children's specialty TV channels, including Family, under a proposed deal with Bell Media. BCE rose seven cents to $46.74
The metals and mining component advanced as First Quantum Minerals climbed 48 cents to $17.76 while Teck Resources was ahead 71 cents to $25.95.
The energy sector edged up as the January crude contract was off 13 cents to a six-month low of $92.17 U.S. Canadian Natural Resources advanced 35 cents to $34.67.
The gold sector rose while December bullion rose $5.80 to $1,243.50 U.S. Iamgold improved by 10 cents to $4.51.
The consumer staples sector was also supportive as shares in convenience store chain Alimentation Couche-Tard ran ahead $1.88 to $78.67 after earlier hitting a new 52-week high of $79.18.
The bidding battle for Australia's Warrnambool Cheese & Butter Factory Co. continued Thursday. Murray Goulburn, Australia's largest dairy exporter, has increased its offer for Warrnambool to AU$9.50 a share in cash, which would value Warrnambool at 532 million Australian dollars.
MG's chief rival is Canada's Saputo Inc., which announced Monday that it would pay AU$9.20 per share if receives more than half of Warrnambool's shares or AU$9 per share if it doesn't get a majority. Saputo shares were up 11 cents to C$48.39.
The interest rate sensitive utilities sector continued to be a drag on the TSX with Atlantic Power up four cents to $3.81
On the economic beat, Statistics Canada reported this morning that its industrial product price index sagged 0.3% during October, mainly because of lower prices for petroleum and coal products, while its raw materials price index dipped 2.3% during the same month, weighed by mineral fuels.
ON BAYSTREET
The TSX Venture Exchange dropped 0.33 points to 929.20
All but three of the 14 TSX subgroups were higher by noon, led by metals and mining stocks, charging ahead 2.7%, while materials improved 1%, and global base metals, up 0.9%.
The three laggards were utilities, down 0.2%, telecoms, off 0.1%, and financials, sliding 0.07%.
ON WALLSTREET
U.S. markets are closed today for Thanksgiving and will shut at 1 p.m. ET on Friday.
