Equities in Canada’s largest centre rose marginally at the open on Thursday, as higher oil prices drove gains in the energy sector, and steadying gold prices lifted miners.
The TSX Composite Index took on 15.93 points to begin Thursday at 16,955.54
The Canadian dollar docked 0.07 cents at 75.84 cents U.S.
Federal Conservatives and New Democrats suggested on Wednesday they could move to delay ratification of a new continental trade pact, accusing the Liberal government of botching revisions to the treaty.
EnCana on Wednesday filed paperwork with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities as part of a plan to shift its base to the United States.
EnCana shares gained 14 cents, or 2.6%, to $5.46.
About 1.5 million litres of product is estimated to have been spilled this week after a Canadian Pacific Railway train derailed and caught fire, the Transportation Safety Board said on Wednesday.
CP shares lost $1.27 to $325.65.
CIBC raise the rating on AirBoss of America to outperform from neutral. AirBoss shares gained 12 cents, or 1.5%, to $8.24.
RBC raised the target price on Parkland Fuel to $54.00 from $44.00. Parkland shares boosted 68 cents, or 1.5%, to $47.07.
RBC raised the target price on Teranga Gold to $8.50 from $8.00. Teranga shares hiked 11 cents, or 1.8%, to $6.35.
ON BAYSTREET
The TSX Venture Exchange sank 0.01 points to 536.32
Seven of the 12 subgroups finished Wednesday in the red, with real-estate collapsing 2.3%, while utilities and energy each gave back 0.5%.
The five gainers were led by gold, up 2%, materials, better by 1.3%, and industrials, stronger 1%.
ON WALLSTREET
Stocks jumped in early trading Thursday after President Donald Trump said China and the U.S. were zeroing in on a trade deal.
The Dow Jones Industrials jumped 91.74 points to begin Thursday at 28,003.04,
The S&P 500 gained 11.07 points to 3,152.70
The NASDAQ added 24.32 points to 8,678.37
The major averages are up sharply for the year. The S&P 500 has jumped 25.3%, and Dow has popped 19.7%, year to date. The NASDAQ is up around 30%.
Broadcom. Inc, and Costco Wholesale are among the companies reporting earnings today.
Trump said in a tweet both sides were getting “VERY close to a BIG DEAL with China. They want it, and so do we!”
His tweet comes after a report that said Trump was meeting with his top trade officials on Thursday ahead of a Sunday trade deadline. If an agreement is not reached by then, additional U.S. levies on Chinese products will take effect.
Figures released Thursday by the U.S. Labor Department showed weekly jobless claims jumped last week by 49,000 to 252,000, their highest level since the week ended Sept. 30, 2017.
Prices for the 10-Year U.S. Treasury sagged, raising yields to 1.84% from Wednesday’s 1.80%. Treasury prices and yields move in opposite directions.
Oil prices restocked 17 cents to $58.93 U.S. a barrel.
Gold prices improved $14.10 at $1,489.10 U.S. an ounce.
