Equities in Toronto rose in midday training Thursday, buoyed by gains in some retailers on rosy results, although investor uncertainty remained over global growth prospects and ahead of a U.S. Federal Reserve rate decision next week.
The S&P/TSX composite index moved higher 61.27 points to greet noon at 13,593.12
The Canadian dollar picked up 0.2 cents to 75.63 cents U.S.
Shares in Dollarama Inc rose 4.2% to $83.44 after the discount retailer reported better-than-expected profit.
At the other end of the retail spectrum, Hudson's Bay Co also pleased investors with its quarterly results, pushing its stock up 5.2% to $23.93.
Meanwhile, Empire Co Ltd, owner of the Sobeys supermarket chain, fell 8% to $84.44 after its quarterly report.
The most influential gainers also included Canadian Pacific Railway, which rose 2.1% to $194.18, and Sun Life Financial Inc, which added 3% to $42.31.
On the other side of the ledger, Fairfax Financial fell 1.9% to $575.08, and Royal Bank of Canada was off 0.3% at $72.22.
On the economic front, Statistics Canada reported that its new housing price index rose 0.1% in July, following a 0.3% increase in June.
ON BAYSTREET
The TSX Venture Exchange faded 1.91 points Thursday to 548.44
All but one of the 14 TSX subgroups were higher, as gold surged 1.6%, energy stocks gained 1.4%, and industrials bettered themselves 1.3%.
The lone laggard was in consumer staples, down 0.6%.
ON WALLSTREET
U.S. stocks attempted gains Thursday, as recovery in oil and major stocks offset increased uncertainty heading into the Federal Reserve's key meeting next week.
The Dow Jones industrial average reversed and moved higher 100.48 points to 16,354.05, with Apple and UnitedHealth the greatest drivers.
The S&P 500 added 10.5 points to 1,952.54,
The NASDAQ index gained 37.3 points to 4,793.83, boosted by biotechs and Apple, which traded more than 2% higher, recovering losses from Wednesday when it unveiled new iPhones, the iPad Pro and other products.
On the earnings front, Lululemon Athletica beat estimates by one cent with quarterly profit of 34 cents U.S. per share, with revenue and a same store sales increase of 6% also exceeding forecasts.
Finisar and Zumiez are due to report after the bell.
Con-way surged 33.5% to boost the Dow transports more than 1%.
Competitor XPO Logistics said after the close Wednesday it would acquire the trucking and logistics firm for $3 billion U.S. The transports are up more than 3% for the week so far, on track for their best week since the end of July.
The Federal Open Market Committee could raise short-term interest rates for the first time in more than nine years at its meeting next Wednesday and Thursday.
On the data front, initial jobless claims fell 6,000 to a seasonally adjusted 275,000 for the week ended Sept. 5, the U.S. Labor Department said on Thursday. It was the 27th straight week that claims remained below the 300,000 threshold, which is usually associated with a strengthening labour market.
Wholesale stockpiles declined 0.1% in July, missing expectations for a slight gain. Sales decreased 0.3%.
Prices for 10-year U.S. Treasuries slid, raising yields to 2.22% from Wednesday’s 2.20%. Treasury prices and yields move in opposite directions.
Oil prices took on $1.51 a barrel to $45.66 U.S.
Gold prices gained $8.30 to $1,110.30 U.S. an ounce.
