Canadian stocks warmed to the prospect of the European Central Bank's (ECB) plan to buy government bonds, and added more points to the index from yesterday’s mighty advance.
The S&P/TSX composite index gained 85 points to open Thursday at 14,645.42
The Canadian dollar eased 0.07 cents to 80.97 cents U.S.,
The Bank of Canada joined the list of "unpredictable" central banks on Wednesday with a shock quarter point rate cut as the European Central Bank prepared a 600-billion-euro ($695 billion U.S.) bond-buying program aimed at lifting Europe out of its economic doldrums.
Royal Bank of Canada said it would buy City National Corp, a U.S. lender serving high net worth clients, in a cash-and-stock deal valued at $5.4 billion. RBC shares settled 3.4% to $74.04.
Suncor Energy’s chief financial officer said he expects Enbridge's reversed Line 9B crude pipeline to start up towards the end of the second quarter of 2015. Suncor shares gained 0.6% to $36.63.
National Bank raised target price on Thomson Reuters to $52.00 from $47.00. Thomson shares tacked on 1.3% to $48.55.
CIBC raised the target price on B2gold to $4.00 from $3.75. B2gold shares ducked back three cents to $2.67.
On the economic docket, Statistics Canada reported this morning that those of us drawing unemployment insurance benefits during November registered at 490,500, or 0.3% less than October.
The agency added that, compared with November 2013, the number of beneficiaries dropped 28,800, or 5.5%.
ON BAYSTREET
The TSX Venture Exchange gained 7.48 points to 679.05.
Among the 14 Toronto subgroups, only metals and mining failed to rise above breakeven, hesitating 0.5%.
Everyone else was in the green, most notably, industrials, up 1.8%, telecoms, better by 1%, and global base metals, 0.9% stronger.
ON WALLSTREET
U.S. stocks fluctuated on Thursday after the European Central Bank left benchmark interest rates unchanged and ECB President Mario Draghi said the central bank would make monthly bond purchases of $70 billion U.S.
The Dow Jones Industrials eked up 1.41 points to 17,555.69
The S&P 500 gained 4.87 points to 2,036.99, with financials leading sector declines and industrials faring best among its 10 major industries.
The NASDAQ index added 6.60 points to 4,674.02
Verizon Communications edged lower after the telecom reported quarterly earnings in line with estimates.
Southwest Airlines rose after the carrier posted quarterly earnings and revenue above estimates.
American Express fell, a day after the credit-card company said it would cut more than 4,000 jobs this year, and eBay climbed a day after the online auctioneer said it was exploring a sale or public offering of its enterprise unit.
Stock futures had retained solid gains after U.S. data had 307,000 Americans filing for jobless benefits last week, down 10,000.
The expanded asset purchases begin in March, and run through September of next year, Draghi said.
Prices for 10-year U.S. Treasuries sagged, lifting yields to 1.86% from Wednesday’s 1.85%. Treasury prices and yields move in opposite directions.
Oil prices inched up six cents per barrel to $47.84 U.S.
Gold prices gained $3.40 an ounce to $1,297.10 U.S.
