Stock markets in Canada’s largest centre made up Thursday for heavy losses early this week, boosted by the extended rally in all major sectors, mostly in mining and energy.
The S&P/TSX composite index skyrocketed 385.08 points, or 2.9% to close a very successful Thursday at 13,766.67
The Canadian dollar moved up 0.44 cents to 75.66 cents U.S.
Metals and mining stocks provided the most momentum on the day, mostly because of Teck Resources, which strengthened in price $1.53, or 20.8%, to $8.89, while HudBay Minerals ballooned 82 cents, or 14.3%, to $6.55.
Meantime, First Quantum Minerals was the most heavily traded stock, gaining 78 cents, or 13% to $6.80, on 10.3 million shares.
Financials rose, still on results-fueled gains in TD Bank, surging 76 cents, or 1.5% to $52.56, and CIBC, rocketing $5.14, or 5.7% to $95.45
Energy stocks also shot back to life, mostly on the shoulders of Lightstream Resources, which sprang up seven cents, or 20.3%, to 42 cents, while Pacific Exploration and Production gained 56 cents, or 16.2%, to $4.02.
ON BAYSTREET
The TSX Venture Exchange added 15.87 points, or 3%, to 545.57
All 14 TSX subgroups remained positive on the day, led by metals and mining, galloping 11.5%, global base metals, better by 8.4%, and energy, 6.3% peppier.
ON WALLSTREET
U.S. stocks closed more than 2% higher in a second straight day of recovery from a recent plunge, with sentiment helped by a rebound in oil and continued signs of strength in the U.S. economy.
The Dow Jones industrial average skyrocketed 369.26 points, or 2.3%, to 16,654.77, Chevron jumping more than 6% as the greatest blue-chip advancer.
The S&P 500 hiked 41.52 points, or 2.1%, to 1,982.03.
The NASDAQ index leaped 101.85 points, or 2.2%, to 4,799.39, to swing out of correction and into positive territory for 2015.
Apple jumped nearly 3%. The stock remains in correction territory after closing out of a bear market on Wednesday.
Some major earnings were also due for release Thursday, including Dollar General, Tiffany and Signet Jewelers before market open.
Autodesk, GameStop, Smith & Wesson and Splunk are due after the bell.
Tiffany earned an adjusted 86 cents U.S. per share for its latest quarter, missing estimates by five cents. Revenue was also below forecasts, with the luxury goods retailer pointing to the negative effects of a strong dollar and challenging economic conditions in certain markets.
Dollar General beat estimates by one cent with quarterly profit of 95 cents U.S. per share, though revenue was slightly below forecasts.
The discount retailer said both customer traffic and average purchases grew during the quarter.
Economically speaking, the second estimate of second-quarter GDP came in at 3.7%, topping the first read of an annualized 2.3%
Weekly jobless claims came in slightly lower than expected at 271,000, marking the first decline in five weeks and indicating continued improvement in the labour market.
July pending home sales rose 0.5%, holding steady from an upwardly revised June reading of a 0.5% increase.
Prices for 10-year U.S. Treasuries dipped, raising yields to 2.19% from Wednesday’s 2.13%. Treasury prices and yields move in opposite directions.
Oil prices heightened $3.80 a barrel to $42.40 U.S.
Gold prices moved lower $1.70 to $1,122.90 U.S. an ounce.
