Stocks in Canada’s biggest market rose as higher crude oil prices supported energy stocks, while the metals and mining group also advanced.
The S&P/TSX Composite Index added 29.89 points to open Thursday’s session at 13,508.02
The Canadian dollar gained 0.46 cents to 76.68 cents U.S.
Media reports say creditors of Valeant Pharmaceuticals International, which has been in violation of lender agreements since Wednesday, are beginning to demand new terms that could further pressure the drug maker's business model.
Valeant shares decreased $1.55, or 3.5%, to $42.29.
The Trudeau government has finished studying a request from struggling Bombardier Inc for $1 billion in aid and is preparing to make an announcement within weeks.
Bombardier shares gained five cents, or 4.4%, to $1.20.
Goldman Sachs cut the rating on Detour Gold to neutral from buy. Detour stock acquired 20 cents to $21.72.
CIBC cut the target price on Alimentation Couche-Tard to $76.00 from $82.00. Couche-Tard shares dipped 66 cents, or 1.1%, to $59.27.
Raymond James cut the target price on WSP Global to $45.00 from $50.00. WSP shares fell 36 cents, or 1%, to $37.01.
On the economic slate, Statistics Canada reported wholesale sales were flat in January at $57.0 billion, as gains in the machinery, equipment and supplies sub-sector were offset by lower sales in the motor vehicle and parts sub-sector. In volume terms, wholesale sales decreased 0.2% in January.
ON BAYSTREET
The TSX Venture Exchange gained 1.25 points to 576.65
Eight of the 13 TSX subgroups were higher to start out, with metals and mining up 3.5%, energy gushing 0.8%, and real-estate up 0.4%.
The five laggards were weighed most by health-care, down 1.4%, gold, off 0.7%, and consumer staples, falling 0.1%.
ON WALLSTREET
Equities south of the border traded in a narrow range Thursday as the U.S. Federal Reserve's Wednesday announcement remained in focus amid several data releases.
The Dow Jones Industrial average took on 31.47 points to 17,357.23, with JPMorgan Chase leading decliners and Nike the top advancer.
The S&P 500 slumped 2.62 points to 2,024.60. Financials and health-care were the greatest decliners in the S&P 500, while materials and energy were among the few advancers.
The NASDAQ index regressed 16.03 points to 4,747.94,
Among transport concerns, FedEx surged more than 7% following earnings that topped expectations.
In corporate news, Caterpillar cut its first-quarter earnings and revenue guidance, but said it remains comfortable with its prior full-year forecast. The stock held mostly higher in morning trade.
Economically speaking, weekly jobless claims in the States came in at 265,000. The March Philly Fed index was 12.4 versus minus 2.8 for February.
Fourth-quarter current account data showed a deficit of $125.3 billion U.S.
January's Job Openings and Labour Turnover Survey showed a separations rate of 3.4% versus 3.5% in December.
Prices for the 10-year Treasury gained slightly, dropping yields to 1.9% from Wednesday’s 1.92%. Treasury prices and yields move in opposite directions.
Oil prices gained 88 cents a barrel to $39.34 U.S.
Gold prices strengthened in price $3.18 to $1,265.75 U.S. an ounce.
