Stocks in Canada’s greatest market rose on Wednesday as higher oil prices supported energy concerns, while industrials also advanced on speculation of a major order for a plane and train maker.
The S&P/TSX Composite Index remained in the green 38.14 points to greet noon at 13,847.58
The Canadian dollar dipped 0.2 cents to 79.14 cents U.S.
Shares of Bombardier Inc rose 6% to $2.11 after the company moved forward release of its first-quarter results by a day to Thursday in a surprise announcement that elevated market expectations of a big CSeries order this week.
Cenovus Energy reported a wider-than-expected quarterly operating loss and said its cash flow slumped 95%, hurt by the prolonged slump in oil and natural gas prices.
Still its shares rose 3.2% to $19.50, while the overall energy group advanced as oil reached its highest level of 2016.
Canadian Natural Resources rose 1.9% to $39.27, while Suncor Energy was up 1.5% at $36.88.
Among technology plays, DH Corp fell 8.5% to $34.06, while CGI Group Inc was down 1.2% at $59.40.
ON BAYSTREET
The TSX Venture Exchange slipped 0.05 points to 657.39
Nine of the 13 TSX subgroups were higher midday, mostly utilities, clicking up 1.1%, gold, ahead 1%, and materials, better by 0.8%.
The four laggards were slowed most by information technology, plunging 1.7%, consumer staples, weaker by 0.7%, and health-care, down 0.3%.
ON WALLSTREET
Stocks south of the line traded mostly lower Wednesday, weighed by sharp declines in Apple shares on disappointing earnings, ahead of the scheduled afternoon release of the Federal Reserve statement.
The Dow Jones Industrials moved forward 19.18 points to 18,009.50, erasing earlier losses, as Apple pared some losses. The tech giant was still contributing the most to declines, however, with Boeing the top contributor to gains.
The S&P 500 dumped 2.07 points to 2,089.63, but held mostly lower in late-morning trade as information technology held more than 1% lower. Utilities proved the top advancer in late-morning trade.
The NASDAQ Composite Index plummeted 38.67 points to 4,849.61, erasing gains for April so far weighed by declines in Apple, Amazon.com, Alphabet, Microsoft and Facebook, which is due to report earnings after the close
Apple revenues missed expectations and dropped roughly 13% from the same period last year, falling for the first time since 2003 as iPhone sales had their first year-over-year decline. Earnings were 10 cents short of expectations at $1.90 U.S. a share. The firm did increase its dividend by 10% and raised its capital return program by $50 billion U.S.
Shares briefly fell more than 8% before holding about 6% lower in late-morning trade.
In other earnings news, Boeing reported earnings that missed but revenues that beat.
Comcast briefly rose more than 2% in morning trade for the most positive impact on the NASDAQ 100. The media giant posted earnings that beat on both the top and bottom line. Comcast saw growth across virtually all its business segments, and its biggest first-quarter jump in TV customers in nine years.
Separately, overnight there were reports that Comcast is in talks to buy DreamWorks.
Economically speaking, U.S. pending home sales rose 1.4% in March.
Total mortgage application volume decreased 4.1% last week on a seasonally-adjusted basis from the previous week, according to the U.S. Mortgage Bankers Association.
The U.S. the Federal Reserve could take a slightly more hawkish tone in its statement, due for release at 2 p.m. ET.
The Bank of Japan is set to release its statement on monetary policy Thursday.
Prices for the 10-year Treasury strengthened, lowering yields to 1.9% from Tuesday’s 1.94%. Treasury prices and yields move in opposite directions.
Oil prices added 18 cents a barrel to $44.42 U.S.
Gold prices hiked $6.26 to $1,249.66 U.S. an ounce.
