Equities in Canada’s biggest centre gained in early trade on Wednesday as investors piled into major gold miners in reaction to a shock victory for Republican Donald Trump in the U.S. presidential election.
The S&P/TSX Composite grew 48.37 points to begin Wednesday at 14,705.21
The Canadian dollar took a header, 0.98 cents, to 74.27 cents U.S.
HudBay Minerals has suspended operations at its Constancia copper mine in Peru after "trespassers" from a nearby highland town occupied the open pit area. The decision was necessary to ensure the safety of employees and the people in the mine site.
HudBay shares gained 22 cents, or 3.1%, to $7.32.
National Bank Financial raised the rating on DHX Media to outperform, based on the company’s updated outlook ahead of first-quarter reporting.
DHX shares gained five cents to $6.68.
CIBC raised the target price on WSP Global to $44.00 from $42.00 to reflect an improved U.S. outlook offset by a lower contribution from Canada.
WSP shares climbed 63 cents, or 1.5%, to $42.95.
ON BAYSTREET
The TSX Venture Exchange inched up 0.38 points to 757.23
Seven of the 12 TSX subgroups were negative, with utilities fading 0.9%, consumer discretionary stocks down 0.8%, and information technology off 0.5%.
The five gainers were gold, up 3.6%, materials, prospering 2.1%, and energy, up 1.4%.
ON WALLSTREET
U.S. equities traded mixed Wednesday after a shocking victory by Republican Donald Trump over Hillary Clinton sent markets for a wild ride.
The Dow Jones Industrials fought their way back to within 10.21 points to 18,322.53, with Caterpillar contributing the most gains.
The S&P 500 fell 8.62 points at 2,130.94, with health-care rising 2% to lead advancers while real estate dropped 2.6%, and utilities fell 3.4%
The NASDAQ composite index started downward 30.55 points to 5,162.94
Trump shocked the world by beating Clinton in the race for the White House. Trump's success was only part of a larger, crushing victory for the Republican Party, which retained the House and appeared poised to maintain Senate control.
Investors also began adding exposure to health-care and defense stocks, both of which saw significant pressure heading into the election, since Clinton was the favourite to win.
Prices for the 10-year Treasury collapsed, sending yields sharply upward to 1.97% from Tuesday’s 1.87%. Treasury prices and yields move in opposite directions.
Oil prices gave down 21 cents to $44.77 U.S. a barrel
Gold prices vaulted $10.60 to $1,285.10 U.S. an ounce.
