Canada's main stock index opened higher on Thursday, led by gains in financial stocks and optimism over progress in North American Free Trade Agreement talks, amid easing trade war worries.
The S&P/TSX Composite Index gained 105.35 points, to kick off Thursday at 15,269.72
The Canadian dollar slid 0.04 cents at 78.31 cents U.S.
Husky Energy said its chief financial officer, Jon McKenzie, has resigned effective immediately. McKenzie was named CFO of Cenovus Energy.
Husky shares inched up two cents to $17.92, while Cenovus shares rocketed 47 cents, or 4%, to $12.10.
Corus Entertainment on Thursday beat quarterly profit expectations as it cut costs and gained from TV merchandising and distribution.
Corus shares vaulted $1.24, or 20.7%, to $7.23.
Murray Goulburn shareholders approved a $1.0-billion takeover of the co-operative by Saputo, bringing the sale of Australia's largest dairy processor close to completion. Saputo shares were unchanged at $40.31.
BMO cuts target price on Arizona Mining to $5.50 from $5.75. Arizona shares dropped a penny to $4.08.
On the economic front, Statistics Canada said this country’s merchandise trade deficit totaled $2.7 billion in February, widening from a $1.9-billion deficit in January. Imports rose 1.9% and exports increased 0.4%.
ON BAYSTREET
The TSX Venture Exchange recovered 3.68 points to 767.46
All but two of the 12 TSX subgroups were higher, as energy surged 2.5%, health-care recovered 1.8%, and materials improved 0.8%.
The two laggards proved to be consumer staples, down 0.4%, and utilities, clicking lower 0.2%.
ON WALLSTREET
U.S. stocks traded higher on Thursday as tech shares rose following a roller coaster ride in the previous trading day.
The Dow Jones Industrial Average strengthened 219.36 points to 24,483.66, with Boeing and Caterpillar as the best-performing stocks.
The S&P 500 tallied 14.44 points to 2,659.13, with energy leading eight sectors higher.
The NASDAQ Composite index leaped 40.19 points to begin Thursday at 7,082.30
Tech helped lead the move higher, with Facebook jumping 3.2% and Netflix, Amazon and Alphabet all rising more than 1%.
Facebook rose after CEO Mark Zuckerberg said told reporters he has not seen a noticeable change in user behavior in the wake of the Cambridge Analytica data scandal.
Chip stocks also rose, as Advanced Micro Devices gained 3% after Stifel upgraded them to a buy from hold.
Markets have been on edge in recent sessions amid concerns of a potential trade war between China and the U.S. On Wednesday, China announced fresh tariffs on 106 U.S. products, including cars, whisky and soybeans — less than 24 hours after the U.S. administration issued a list of Chinese imports that it would target.
The news initially sent stocks lower before bouncing back as the Trump administration tried to play down trade-war worries.
In economic news, weekly jobless claims totaled 242,000, more than the expected 225,000. Still, claims remained near their lowest levels since the 1970s.
Prices for the benchmark 10-year Treasury note fell, raising yields to 2.83% from Wednesday’s 2.80%. Treasury prices and yields move in opposite directions.
Oil prices hiked 47 cents a barrel to $63.84 U.S.
Gold prices faded $9.50 to $1,330.70 U.S. an ounce.
