Markets in Canada’s largest centre shook out of their slump Thursday, led by hearty gains in tech and mining issues.
The Toronto Stock Exchange's S&P/TSX composite index gained 79 points to close Thursday at 13,016.59
The Canadian dollar slid 0.31 cents to 73.36 cents U.S.
BlackBerry led the pack with a 7.7% hike to close at $10.76.
Among miners, NovaGold Resources launched higher 1.2% to $5.70, while Sabina Gold & Silver gained nearly 3% to 69 cents.
Among health-care issues, Valeant Pharmaceuticals was positive 3.3% to $132.40.
On the economic slate, Statistics Canada reported that its New Housing Price Index rose 0.3% in October, following a 0.1% increase in
September. The gain was largely attributable to higher new home prices in Ontario.
ON BAYSTREET
The TSX Venture Exchange retreated 0.96 points to 504.28.
All but one of the 13 TSX subgroups surged, as information technology rocketed 3%, metals and mining sector moved up 1.8%, while health-care sparked 1.7%.
Only industrials missed the party, down 0.04%.
ON WALLSTREET
American stocks closed higher Thursday, well off session highs in choppy trade, but mostly shaking off pressure from further decline in oil prices.
The Dow Jones industrial average rallied 82.43 points to close at 17,574.75, Goldman Sachs, Boeing and Chevron contributing the most to gains.
The S&P 500 gained 2.47 points to 2,050.09, with energy leading eight sectors higher and utilities and materials the only laggards
The NASDAQ index surged 22.31 points to 5,045.17, as Apple and biotech stocks rose.
American International Group announced Thursday that four of its top 15 executives will be leaving the insurance company as part of a management restructuring.
Chevron said it plans to cut its budget by 24% next year as oil prices are expected to remain low. Media reports note the dramatic cutback in spending is likely to be echoed by other oil majors who will soon release spending plans, with rival ConocoPhillips set to release its 2016 budget on Thursday.
Glencore’s CEO said his company aims to cut net debt by almost $3 billion to $13 billion U.S. by the end of next year. The firm also plans to cut capital spending to $3.8 billion in 2016, down from $5 billion U.S..
Moody's Investors Service downgraded all ratings for Petrobras to Ba3 from Ba2 and placed them on review for possible further downgrade. Moody's also put Brazil's Baa3 rating on review for downgrade.
Investors also digested two economic data sets Thursday morning, with initial jobless claims rising to 282,000. Economists polled by Reuters expected the number to come in at 269,000.
Meanwhile, import prices fell 0.4% in November, as oil prices weighed, the U.S. Labor Department said. The U.S. Treasury budget also came out today.
Prices for the 10-year Treasury staggered, raising yields to 2.23% from Wednesday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices gave back 56 cents a barrel to $36.60 U.S.
Gold prices fell $1.15 to $1,071.63 U.S. an ounce.
