Equities in Canada’s largest market finished the day positive, as energy and consumer staples posted gains that more than offset declines in telecoms and real-estate.
The S&P/TSX Composite Index climbed 45.91 points to close Thursday at 15,172.72
The Canadian dollar sagged 0.11 cents to 82.08 cents U.S.
The energy group climbed with Encana Corp adding 33 cents, or 2.7% to $12.75 and Suncor Energy advancing 62 cents, or 1.5%, to $41.57.
Empire Co, the parent company of the Sobeys grocery chain, soared $2.89, or 14.6% to $22.64 after reporting adjusted earnings and revenue that beat analyst expectations. Elsewhere in consumer staples, Loblaw jumped 94 cents, or 1.5%, to $65.95.
Consumer discretionary stocks also assumed upward momentum, as Canadian Tire gained 18 cents to $$147.25, while Ritchie Bros. Auctioneers took on 19 cents to $37.00
Telecoms dragged things down, though, as BCE doffed 54 cents to $57.72, while Rogers Communications shed $1.00, or 1.6%, to $62.90.
On the economic slate, Statistics Canada’s new housing price index gained 0.4% in July, market conditions in Vancouver contributing to ongoing strength in that census metropolitan area, proving the main agent of price hikes.
China posted a rare flurry of disappointing data - including its slowest growth in investment in nearly 18 years - suggesting the world's second-largest economy is finally starting to lose some momentum as borrowing costs rise.
ON BAYSTREET
The TSX Venture Exchange regained 5.08 points to 776.24
All but three of the 12 TSX subgroups were positive on the day, with energy and consumer staples each moving ahead 1.2%, and consumer discretionaries up 0.8%.
Telecoms led the three subgroups that lost ground Thursday, off 0.6%, while real-estate docked 0.2%, and health-care stocks were down 0.1%.
ON WALLSTREET
U.S. equities closed mostly lower on Thursday after strong inflation data raised the possibility of tighter monetary policy from the Federal Reserve.
The Dow Jones Industrials gained 45.3 points to a new record of 22,203.48. Boeing and United Technologies contributed the most to the
gains. The aerospace company said late Wednesday it will raise production of its 787 Dreamliner jets to 14 per month in 2019.
The S&P 500 faltered 2.75 points from Wednesday’s record high to 2,495.62, consumer discretionary leading decliners and utilities outperformed.
The NASDAQ stumbled 31.1 points from Wednesday’s record high to 6,429.08
The U.S. Consumer Price Index rose 1.9% in August on a year-over-year basis. Economists expected an increase of 1.8%. Lifting consumer prices higher were gasoline and rent costs.
Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Wednesday’s 2.19%.
Oil prices gained 45 cents to $49.75
Gold prices recovered $3.70 to $1,331.70 U.S. an ounce.
