Gains for the TSX were down considerably by mid-afternoon Thursday after health-care stocks changed course and energy issues significantly reduced their earlier climb. But firm mining shares kept the index afloat.
Still, the S&P/TSX composite index moved higher 51.16 points – off its highs of the day -- to close Thursday at 13,596.41
The Canadian dollar gained 0.44 cents to 75.80 cents U.S.
Telecoms had the best showing of the day, as Rogers Communications rocketed $1.09, or 2.5%, to $44.70, while BCE gained 98 cents, or 1.9%, to $53.85.
Metals and mining stocks did well, too, as Capstone Mining leapt three cents, or 5%, to 63 cents, and First Quantum Minerals was stronger by 22 cents, or 3.4%, to $6.62.
Utilities were stronger, as Fortis Inc. gained 78 cents, or 2.3%, to $35.04, while TransAlta gained 11 cents, or 1.8%, to $6.21.
Gold stocks sank as Semafo fell 20 cents, or 6.3%, to $2.96, while Asanko Gold slid 12 cents, or 5.7%, to $2.00.
Tech stocks hesitated as well, as DragonWave descended two cents, or 6.9%, to $48.05, while Avigilon dipped 64 cents, or 5.2%, to $11.73.
On the earnings front, Sears Canada shares rose 40 cents, or 4.7% to $8.87, after the struggling retailer posted a smaller operating loss and the slowest decline in comparable stores sales in six quarters.
Black Iron was the most actively traded stock, gaining half a cent, or 12.5% to 4.5 cents, on 5.4 million shares.
On the economic beat, Statistics Canada reported that the country’s exports rose 2.3% in July, focused mostly on non-energy products. Imports were up 1.7%. As a result, Canada's merchandise trade deficit with the world narrowed from $811 million in June to $593 million in July.
ON BAYSTREET
The TSX Venture Exchange grew 3.70 points to at 553.75
All but four of the 14 TSX subgroups were higher on the day, led by telecoms, up 1.8%, metals and mining stocks, jumping 1.7%, and utilities, picking up 1.2%.
The four laggards were weighed most by gold, sliding 2.4%, information technology, sagging 0.8%, and materials, down 0.7%.
ON WALLSTREET
U.S. stocks closed narrowly mixed, attempting to extend a recovery as investors eyed fluctuations in oil prices and awaited the final jobs report before the Federal Reserve's key September meeting.
The Dow Jones industrial average finished up only 23.38 points to 16,374.76, with Intel leading advancers and Caterpillar the greatest decliner.
The S&P 500 picked up 2.27 points to 1,951.13, with telecommunications leading eight sectors higher and health care and information technology the greatest decliners.
The NASDAQ index slid into negative country by 16.48 points to 4,733.50. Apple closed down 1.8%
Stocks in focus include Tesla, which closed down 0.9%. CEO Elon Musk tweeted after the market close Wednesday that the electric car maker will begin taking pre-orders in March for its entry-level Model 3, which will start at $35,000 U.S.
Twitter jumped 1.7%. The social media firm's board meets Thursday and focus will be on whether the company will make any announcement on the selection of a new chief executive officer. Twitter co-founder Jack Dorsey became interim CEO in June after the surprise resignation of CEO Dick Costolo.
Earnings out before the open included Medtronic, Campbell Soup and Joy Global. Cooper Cos. earnings come after the close.
Weekly jobless claims rose to 282,000. The overall U.S. July trade gap narrowed to $41.86 billion U.S, the smallest in five months, while the U.S.-China trade deficit in July increased slightly to $31.58 billion from $31.46 billion U.S. in June, Reuters reported.
The flow of top-tier releases also continues, ahead of Friday's key jobs report. The August ISM non-manufacturing index came in at 59.0 in August, slightly below July's 60.3 read.
The ISM non-manufacturing index was expected to slip back slightly from July's elevated reading of 60.3, which was the highest in almost a decade, to about 58, still very high by both recent and historical standards according to analysts.
Investors also digested the latest Challenger, Gray & Christmas jobs cut report, which showed that job cuts announced by U.S.-based companies plummeted 61% in August after rising to a four-year high the previous month.
Friday's non-farm payrolls report is the last monthly employment report before the Federal Reserve meets in two weeks, when an announcement on interest rates is widely anticipated.
Prices for 10-year U.S. Treasuries eked upward, lowering yields to 2.16% from Wednesday’s 2.18%. Treasury prices and yields move in opposite directions.
Oil prices gained 62 cents a barrel to $46.87 U.S.
Gold prices slid $9.30 to $1,124.40 U.S. an ounce.
