Equities in Canada’s largest centre strengthened Thursday, as financials enjoyed major gains along with stocks in the telecom sector.
The S&P/TSX Composite grew 137.21 points, or 1%, to conclude Thursday at 14,503.67. The index had lost around 3% of its value since last Thursday's close.
The Canadian dollar gained 0.22 cents to 76 cents U.S.
Among financials, Manulife popped 41 cents, or 2.3%, to $18.17, while Royal Bank prospered $1.25, or 1.6%, to $81.36.
In the telecom sector. TELUS Corp. took on 43 cents, or 1%, to $42.13, while Shaw Communications gained 20 cents to $26.09.
Among consumer staples, Alimentation Couche-Tard sprang to life 88 cents, or 1.4%, to $64.94, while rival Loblaw Companies gained 60 cents to $69.09
On the economic slate, the Canadian Real Estate Association reported Thursday that national home sales declined for a fourth consecutive month last month, falling 3.1% from July to August.
CREA says actual (not seasonally-adjusted) activity came in 10.2% above August 2015. The number of newly listed homes declined 2.7% from July to August.
ON BAYSTREET
The TSX Venture Exchange eked higher 0.27 points to 802.62
All 12 TSX subgroups were positive on the day, with financials moving skyward 1.4%, telecoms better by 1.1%, and consumer staples popping 1%.
ON WALLSTREET
Equities south of the border reached for the stars on Thursday as investors worked their way through a series of economic data as the Federal Reserve's next meeting draws near.
The Dow Jones Industrials galloped 177.71 points, or 1%, to 18,212.48, with Apple leading all components higher.
The S&P 500 moved upward 21.49 points, or 1%, to 2,147.26, with information technology leading all sectors higher.
The NASDAQ Composite accelerated 75.92 points, or 1.5%, to 5,249.69, with Apple gaining 3.4%. The iPhone maker's stock was up more than 12% for the week.
Initial jobless claims came in at 260,000, slightly below expectations, while August Producer Price Index came in unchanged, missing expectations. Retail sales for August missed expectations, falling more than expected. Meanwhile, industrial production fell 0.4% in August, more than the expected 0.3% slide.
Business inventories for July came in unchanged versus an estimated rise of 0.1%.
Prices for the 10-year Treasury dipped slightly, raising yields to 1.71% from Wednesday’s 1.7%. Treasury prices and yields move in opposite directions
Oil prices gained 29 cents at $43.87 U.S. a barrel
Gold prices fell $8.50 at $1,317.60 U.S. an ounce.
