Equity markets in Toronto were little changed on Thursday as weakness in Manulife Financial and Sun Life Financial after the insurers reported quarterly results helped offset gains in oil prices and shares of energy producers.
The S&P/TSX composite index greeted noon down 5.32 points to 15,146.18
The Canadian dollar exploded higher 1.05 cents to 80.24 cents U.S.
The index has been having big swings in sentiment but is up about 3.3% so far this year.
Financials, the index's most heavily-weighted sector, slipped because of the decline in insurance companies.
Manulife gave back 4.3%, to $20.89, after reporting a weaker-than-expected fourth-quarter profit and warning macroeconomic factors like low interest rates would produce "headwinds" in 2015.
Rival Sun Life slumped 5.8%, to $39.51, as it posted a much weaker-than-expected fourth-quarter profit late on Wednesday.
In the energy sector, which was on the rise, Suncor Energy climbed 1.3% to $38.98.
After reporting a quarterly loss, Bombardier said it plans to raise more than $2 billion in equity and debt, suspend its dividends and shuffle its leadership, bringing in an outsider as chief executive.
Statistics Canada reported its new housing price index for December posted a fourth consecutive 0.1% increase. Gains in Ontario and Alberta were moderated by a decline in Quebec.
ON BAYSTREET
The TSX Venture Exchange added 1.41 points to 693.72
Nine of the 14 Toronto subgroups were lower, as telecoms slumped 1.1%, health-care and industrials each faded 0.4%.
The five gainers were led by metals and mining, surging 2.7%, while global base metals and energy each climbed 1.1%.
ON WALLSTREET
U.S. stocks traded higher on Thursday as investors were encouraged by a cease-fire agreement between Russia and Ukraine, shaking off lack of resolution in Greece and weaker-than-expected U.S. data.
The Dow Jones Industrials remained positive 70.25 points to 17,932.39, with Cisco leading gains and American Express the greatest of six blue-chip laggards.
The S&P 500 stayed positive 14.32 points to 2,082.85, with information technology leading gains and utilities leading three laggards.
The NASDAQ index was better by 39.64 points to 4,840.82.
Strong earnings from Cisco and other firms in the U.S. and Europe boosted stocks, with the S&P 500 at a high for 2015 and the NASDAQ opening up at its highest level since March 2000. Apple continued to trade at all-time highs.
In the economic docket, retail sales for January came in weaker than expected, down 0.8% and near December's 0.9% decline. Retail sales ex-autos declined 0.9%, though when excluding vehicles, gasoline and building materials, sales posted a moderate increase to 0.1% last month after a revised 0.3% drop in December.
Jobless claims totaled 304,000 last week, more than expected and an increase of 25,000 from last week.
Business inventories increased 0.1% in December, below estimates of a 0.2% increase. Sales decreased 0.9%.
Greece was unable to reach a deal with the European Union to stay in an EU bailout program, the Eurogroup's Jeroen Dijsselbloem said on Wednesday, noting talks will continue on Monday.
Prices for 10-year U.S. Treasuries gained slightly, lowering yields to 1.97% from Wednesday’s 1.99%. Treasury prices and yields move in opposite directions.
Oil prices shot higher $1.94 per barrel to $50.77 U.S.
Gold prices added $5.50 an ounce to $1,225.10 U.S.
