Equities in Canada’s biggest market rose in early trade on Wednesday, boosted by gains in big banks and gold miners, while IT company CGI Group and movie theater chain Cineplex Inc fell after missing earnings expectations.
The S&P/TSX Composite Index took on 48.23 points to open Wednesday at 15,250.33
The Canadian dollar scaled back 0.13 cents to 79.55 cents U.S.
CGI shares plummeted $2.52, or 3.8%, to 63.83, while Cineplex shares slumped $3.09, or 6.2%, to $46.39
Restaurant Brands International posted a slight drop in quarterly profit, as strength in its Burger King chain was offset by fewer patrons visiting Tim Hortons and Popeyes Louisiana Kitchen.
The stock that trades under the symbol QSR took on 56 cents to $74.79.
Torstar Corp posted a surprise loss in the second quarter as demand for its print business continued to dwindle. Torstar shares faded two cents, or 1.4%, to $1.43.
Siemens and Bombardier are set to agree to headquarter both of their planned transportation joint ventures in Berlin. Bombardier shares gained four cents, or 1.6%, to $2.57.
CIBC raised the price target on Air Canada to $27.00 from 23.00. Air Canada dipped 15 cents to $21.59.
Desjardins raised the target price on Intact Financial to $98.00 from $96.00. Intact shares traveled 26 cents higher to $97.48.
Canaccord Genuity cut the price target on Precision Drilling to $4.25 from $4.75. Precision shares fell six cents, or 1.6%, to $3.65.
ON BAYSTREET
The TSX Venture Exchange acquired 3.09 points to begin Wednesday at 771.12
All but two of the 12 TSX subgroups were higher in the first hour of trade, with consumer staples surging 0.9%, utilities climbing 0.6%, and gold shining 0.5%.
The two laggards were information technology stocks, fading 1.5%, and health-care, sagging 0.2%.
ON WALLSTREET
The Dow Jones industrial average notched another milestone on Wednesday, breaking above 22,000 for the first time.
The Dow strengthened 47.45 points to 22,011.37, receiving a boost from Apple's stock, which surged after posting quarterly results that blew expectations out of the water.
The company reported earnings per share of $1.67 on revenue of $45.4 billion. Analysts expected earnings per share of $1.57 on revenue of $44.89 billion.
It took the Dow just over five months to surge to 22,000 from 21,000. Boeing shares have had the biggest point impact on the price-weighted Dow, contributing 380.29 points since March 1, followed by McDonald's and UnitedHealth Group with 171.14 and 166.35 points, respectively.
The S&P 500 dipped 4.44 points to 2,471.91,
The NASDAQ slouched 14.3 points to 6,348.95
Shares of Amazon, Google-parent Alphabet and Netflix followed Apple higher
Wall Street also set its sights on key economic data. Private U.S. companies added 178,000 jobs last month, according to a report from ADP and Moody's Analytics. But economist expected an increase of 185,000 jobs.
Prices for the benchmark 10-year Treasury note stayed put, keeping yields at Tuesday’s 2.26%.
Oil prices tacked on a penny to $49.17 U.S. a barrel
Gold prices slid $3.60 to $1,275.80 U.S. an ounce.
