Markets in Toronto opened slightly downward n cautious trading on Thursday, as concerns surrounding China's growth and Ukraine's continued political tensions could cap gains.
The S&P/TSX composite index faded 15.25 points to begin Thursday’s session at 14,303.75.
The Canadian dollar hiked 0.44 cents at 90.36 cents U.S.
Empire Co Ltd reported a steep fall in quarterly profit, hurt by higher inventory losses and higher costs due to a weaker Canadian dollar. Empire shares hesitated $2.20, or 3.1%, to $68.02.
Tour operator Transat AT Inc reported a bigger quarterly loss as a weak Canadian dollar pushed up operating expenses. Transat shares backtracked $2.11, or 19.2%, to $8.90.
CIBC raised the target price on Newalta Corp. to $20 from $19.50 citing the company's new strategic direction and expected high return growth in the Heavy Oil segment. Newalta stock took on a dime per share to $19.10.
CIBC also raised the target price on Semafo Inc. to $5.50 from $5, saying the company is bouncing back in a big way in 2014 with the addition of two new high-grade sources, sees grade to increase by more than 50%. Semafo shares gained four cents each to $4.61.
On the economic slate, Statistics Canada reported that its new housing price Index rose 0.3% in January, following a 0.1% gain in December. The national increase was the largest since May 2012 and mainly the result of strong gains in the Prairie region.
ON BAYSTREET
The TSX Venture Exchange dropped 3.14 points to 1,043.25
The 14 Toronto subgroups were evenly divided between gainers and losers, as information technology inched up 0.3%, while energy and the metals and mining group gained 0.2% each.
The seven laggards were weighed by gold and consumer staple stocks, each down 0.8%, while health-care issues were 0.5% less robust.
ON WALLSTREET
Stocks gradually made their way higher Thursday, amid a good deal of skepticism and caution.
The Dow Jones Industrial Average improved 32.11 points to 16,372.19
The S&P 500 index gained 3.44 points to 1,871.64. The NASDAQ prospered 11.48 points to 4,334.81.
On the corporate side, Plug Power reported earnings before the open. It's a highly speculative stock that's enjoyed a massive run as of late and was continuing to climb in pre-market trading.
Aeropostale will report results after the close.
Economically speaking, the U.S. government published weekly jobless claims numbers and February retail sales before the bell this morning.
Prices for 10-year U.S. Treasuries were lower, boosting yields to 2.75% from Wednesday’s 2.73%. Treasury prices and yields move in opposite directions.
Oil prices eked up four cents to $98.03 U.S. a barrel.
Gold prices fell $3.30 to $1,367.20 U.S. an ounce.
