Equities in Toronto advanced on Thursday as higher copper prices supported shares of some mining companies, helping offset a decline in the energy sector.
The S&P/TSX composite index moved positive 28.08 points, to greet noon at 14,767.28.
The Canadian dollar remained in the green 0.37 cents to 78.85 cents U.S.
Among shares of energy producers, Suncor Energy lost 0.8% to $35.72 and Canadian Natural Resources gave back 0.7% to $36.32.
In the mining sector, First Quantum Minerals jumped 4.1% to $14.30, and Teck Resources added 1.9% to $18.08.
Financials were strong, with IAG soaring $1.16, or 2.8%, to $42.50, and Royal Bank ahead 38 cents to $76.36.
On the economic front, Statistics Canada reported that its new housing price index fell 0.1% in January mostly due to lower negotiated selling prices. The agency says this was the first decrease at the national level since July 2010.
ON BAYSTREET
The TSX Venture Exchange nicked higher 1.30 points to 670.93
All but four of the 14 Toronto subgroups were gaining, as metals and mining soared 1.5%, financials were richer by 0.9%, and information technology clicked higher 0.8%.
The four laggards were weighed most by gold, down 2%, energy, sliding 0.8%, and materials, worse off by 0.6%.
ON WALLSTREET
U.S. stocks traded higher on Thursday as mixed economic data indicated to some investors that the Federal Reserve will not raise interest rates as early as anticipated.
The Dow Jones Industrials hiked 190.25 points to 17,825.64, with Goldman Sachs among the blue-chip leaders. After passing its stress test on Wednesday, Goldman announced it will increase its quarterly dividend by five cents to 65 cents U.S. a share.
The S&P 500 gained 18.33 points to 2,058.57, with utilities leading gains as all sectors advanced.
The NASDAQ index picked up 24.17 points to 4,874.11
Intel fell on the firm's lowering of its first quarter revenue outlook, noting weaker demand for business desktop PCs and that inventory levels are lower than expected. Microsoft also declined, as the only other blue-chip in the red.
Dollar General matched estimates with quarterly profit of $1.17 per share, though revenue was slightly below estimates. The discount retailer also initiated a quarterly dividend of 22 cents per share.
The retailer announced on Saturday plans to expand into Oregon, Maine and Rhode Island, taking its presence to 43 states.
Shake Shack, which recently went public, reported a fourth-quarter loss and said same-restaurant sales growth would slow this year.
Bank stocks will also be in focus after the Federal Reserve published the results of the second part of its annual stress test. Bank of America was told it must submit a revised capital strategy to the Fed by the end of September, or risk a restriction to its buyback and dividend plans.
The U.S. dollar fell about 1% after significant gains for the last few days. The euro edged higher to $1.06 U.S., up from 12-year lows hit on Wednesday.
U.S. business inventories were unchanged in January and further declines in sales pushed the number of months it would take to clear shelves to the highest since July 2009, which suggests a stock draw down in the months ahead.
Retail sales for February fell 0.6%, missing expectations of a slight gain.
Weekly jobless claims fell more than expected to 289,000, below the prior week's 320,000.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.08% from Wednesday’s 2.11%. Treasury prices and yields move in opposite directions.
Oil prices faded 61 cents to $47.56 U.S.
Gold prices gained $1.50 to $1,152.10 U.S.
