Equities in Canada’s biggest market rose on Thursday as higher oil prices supported energy stocks and financials gained ground.
The S&P/TSX Composite opened 45.92 points to 14,640.64
The Canadian dollar retreated 0.02 cents to 74.73 cents U.S.
Agrium Inc reported a surprise quarterly loss as it grapples with low fertilizer and crop prices, and also cut its full-year profit forecast.
Agrium shares fell $1.41, or 1.2%, to $120.13.
BCE Inc reported a 1.8% jump in quarterly profit, helped by an increase in net postpaid subscribers.
BCE shares faded four cents to $59.84.
Canadian Natural Resources reported a bigger-than-expected quarterly loss due to lower prices.
Natural Resources dipped 13 cents to $42.06.
Enbridge Inc reported a quarterly profit that missed estimates as warmer-than-expected weather weighed on its unit that distributes natural gas for heating purposes.
Enbridge shares fell $1.39, or 2.5%, to $54.57.
Encana Corp posted an operating quarterly profit as lower costs helped offset the impact of weak commodity prices.
Encana shares climbed 69 cents, or 2.5%, to $13.18.
Kinross Gold reported better-than-expected third-quarter earnings on the back of a stronger gold price and slightly higher production
Kinross shares gained 25 cents or 4.8%, to $5.44.
Magna International reported a better-than-expected quarterly profit, helped by strong demand from Asia and Europe.
Magna shares gained 95 cents, or 1.2%, to $54.71.
SNC-Lavalin Group reported an 11% fall in quarterly revenue due to weakness in its engineering and construction business.
SNC shares picked up $1.34, or 2.6%, to $53.45
ON BAYSTREET
The TSX Venture Exchange fell 1.1 points to 769.01
All but three of the 12 TSX subgroups were higher, with gold soaring 1%, materials and energy each up 0.7%.
The three laggards were health-care, down 1.2%, real-estate, fading 0.3%, and utilities, off 0.1%.
ON WALLSTREET
U.S. stocks traded mixed on Thursday as investors pored over key economic data and corporate reports, but concerns over next week’s presidential election remained.
The Dow Jones Industrials hiked 21.75 points to begin the day at 17,981.39, with Walt Disney contributing the most gains.
The S&P 500 inched up 1.3 points at 2,099.24, with financials leading advancers
The NASDAQ composite index subtracted 9.56 points to 5,096.01
On the earnings front, Chesapeake was among the firms reporting results before the bell. Social media giant Facebook posted better-than-expected results Wednesday after the close. That said, the stock fell 4% in early trade Thursday
Recent data points to earnings being not as good as they were in previous weeks. Entering Monday, 73% of the 289 S&P components that posted results had exceeded bottom-line estimates, whereas just 66% of the 104 components reporting this week have beaten expectations.
Initial U.S. jobless claims came in at 265,000, above a consensus estimate of 258,000. Also, the preliminary read on third-quarter productivity showed an increase of 3.1%, well above the expected rise of 2%. Other data releases due Thursday include the ISM non-manufacturing index and factory orders, set for release mid-morning.
Prices for the 10-year Treasury sagged, raising yields to 1.82% from Wednesday’s 1.8%. Treasury prices and yields move in opposite directions.
Oil prices sank nine cents to $45.25 U.S. a barrel
Gold prices fell $10.50 to $1,297.70 U.S. an ounce.
