Equities in Canada’s biggest centre found their way back up again, as health-care and gold stocks led the way.
The S&P/TSX composite index shot ahead 75.4 points to close Thursday at 13,475.37
The Canadian dollar moved forward 0.03 cents at 75.2 cents U.S.
The much beleaguered Valeant Pharmaceuticals International raced ahead $14.87, or 15.3%, to $111.79.
Among gold plays, the world’s biggest gold miner, Barrick, pumped up 4.2%, to $10.03, while Goldcorp added 2.2% to $16.18.
Financials were stronger, too, with Manulife Financial strengthening 1.1%, to $22.19, while Royal Bank gained 0.9% to $76.18.
Metals and mining stocks, though, faltered, with Teck Resources down 3.8% to $6.05, while Potash Corporation of Saskatchewan enjoyed a gain of 0.4% to $27.43.
Energy stocks also got bruised, as Canadian Oil Sands spun off 2% to $8.79, and Baytex Energy tumbled 6.6%, to $5.51.
On things economic, Statistics Canada reported this morning that those Canadians on regular employment insurance benefits hiked 1.1% in September to 543,800. On a year-over-year basis, the number of EI beneficiaries rose by 41,600 or 8.3%.
The agency also stated that wholesale sales subsided 0.1% to $55.2 billion in September. The agencies attributes the drop to declines in the motor vehicle and parts and the building material and supplies sub-sectors, only partially offset by higher sales in machinery, equipment and supplies, food, beverage and tobacco.
ON BAYSTREET
The TSX Venture Exchange dipped 1.77 points to 519.01.
All but three of the 13 TSX subgroups were higher, with health-care better by 2.7%, gold hiking 2.4%, and materials improving 1.2%.
The three laggards were metals and mining, down 1.7%, energy off 1.6%, while utilities suffered 0.2%.
ON WALLSTREET
U.S. stocks traded in a range Thursday, fighting to get into the green, as investors considered some corporate news and sought further indications of support for a December rate hike by the U.S. Federal Reserve
The Dow Jones industrial average faded 4.77 points to close Thursday at 17,732.69. UnitedHealth was the greatest weight on the big board, while Apple contributed the most to gains.
The S&P 500 lost 1.45 points to 2,082.13, health care falling more than 1.5% as the greatest laggard in the S&P 500.
The NASDAQ index forged higher, however, by 2.46 points to 5,077.66, as Apple moved 1.5% higher.
UnitedHealth held about 5% lower in afternoon trade after the health insurer cut its forecast for the year.
Pfizer and Allergan also dragged the health care sector downward, following reports the two firms could be close to a deal.
Traders also on Thursday’s IPOs for Square and Match, which began trading Thursday.
Square, an electronic payments company, spiked more than 50% in its trading debut after opening at $11.20 U.S. a share. The stock priced below the expected range at $9.00 U.S. a share.
Tinder parent Match jumped more than 15% in its first day of trade. The stock priced at the low end of the expected range at $12.00 U.S. per share.
Among issues reporting earnings, Best Buy beat estimates by six cents U.S. with adjusted profit of 41 cents per share, but its revenue was merely in line and its same store sales hike of 0.8% disappointed.
Economically speaking, initial jobless U.S. claims came in at 271,000, down 5,000 from the week before. The Philadelphia Fed Manufacturing survey's diffusion index for current activity came in for November at 1.9, its first positive reading in three months.
U.S. October leading indicators rose 0.6%, slightly more than expected.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.24%, from Wednesday’s 2.28%. Treasury prices and yields move in opposite directions.
Oil prices declined 34 cents a barrel to $40.41 U.S.
Gold prices gained $11.80 to $1,082.53 U.S. an ounce.
