Equity markets in Canada’s largest centre found their way into the sunlight on Wednesday, as tech and energy issues overcame weak performances in real-estate
The S&P/TSX Composite Index came off its highs of the day, but still ended positive 115.23 points at 14,783.06
The Canadian dollar gained 0.13 cents to 74.87 U.S.
Information technology stocks took off, with BlackBerry juicier by 18 cents, or 1.7%, to $10.70, while Shopify sprouted $7.66, or 3.7%, to $214.96.
Energy strengthened, with Torc Oil & Gas rising 11 cents, or 2.6%, to $4.35, after the company gave its 2019 production forecast and capital budget. Suncor Energy jumped 64 cents, or 1.6%, to $41.48.
Gold also sang, with Goldcorp up 19 cents, or 1.5%, to $12.87, while Barrick Gold shot higher by 48 cents, or 2.6%, to $18.70.
Among real-estate issues, units of Canadian Apartment Properties REIT fell $1.99, or 4.2%, to $45.25, after the company announced public unit financing of $250 million. Elsewhere, units of Allied Properties gave back eight cents to $44.55.
ON BAYSTREET
The TSX Venture Exchange spent much of the day in positive country, but turned lower 1.89 points by the closing bell to 562.25.
All but one of the 12 TSX subgroups remained positive on the day, as information technology picked up 2.6%, energy spiked 1.9%, and gold brightened 1.7%,
The lone laggard was in real-estate, sinking 0.6%.
ON WALLSTREET
Stocks closed higher on Wednesday as investors digested news related to the ongoing trade war between the United States and China.
The Dow Jones Industrial Average jumped 157.03 points to 24,527.27, led by gains in Caterpillar.
The S&P 500 recovered 14.29 points to 2,651.07, as the consumer discretionary sector outperformed.
The NASDAQ was positive 66.48 points, or 1%, to 7,089.31, as Facebook, Amazon, Netflix and Google-parent Alphabet rose.
Shares of Caterpillar and Boeing both rose more than 1%. These stocks are considered global trade bellwethers because of their exposure to markets abroad.
Shares of home-improvement retailer Lowe’s rose 2.9% after the company announced a $10-billion buyback. Lowe’s also reiterated its profit outlook for fiscal 2018.
The Wall Street Journal reported China is working to increase access to foreign companies, a move aimed at smoothing U.S.-China trade relations. This plan, the report says, would replace the country’s Made in China 2025 plan, a framework aimed at making China a leader in industries like clean-energy cars and robotics.
President Donald Trump told the media on Tuesday he would he would intervene in the Justice Department’s case against a top executive at Chinese telecoms giant Huawei if it would help serve national security interests or help U.S.-Sino trade talks. Huawei is the one of the largest tech companies in China. It is also seen as a symbol of pride by the Chinese government.
Meanwhile, a media report said Chinese state-owned companies bought at least 500,000 tons of U.S. soybeans on Wednesday.
Prices for the benchmark for the 10-year U.S. Treasury were lower, raising yields to 2.91% from Tuesday’s 2.88%. Treasury prices and yields move in opposite directions
Oil prices lost 57 cents to $51.08 U.S. a barrel.
Gold prices settled $3.60 to $1,250.80 U.S. an ounce.
