Equities in Canada’s largest market opened marginally higher on Wednesday, adding to their highest level since February, even as traders booked profits ahead of the U.S. Thanksgiving holiday.
The TSX gained 15.08 points to begin Wednesday’s session at 17,289.33.
The Canadian dollar eased 0.07 cents to 76.87 cents U.S.
Enbridge said on Tuesday it had filed a federal complaint in the United States District Court seeking an injunction to stop the State of Michigan from taking any steps to prevent the operation of Line 5.
Enbridge shares began Wednesday up 35 cents to $41.09
Cessna business jet maker Textron has agreed to sell a portion of its flight simulation and training business to CAE for $40 million in cash.
CAE shares gave back 80 cents, or 2.4%, to $32.92.
National Bank of Canada raised the target price on Boralex to $43.00 from $42.00. Boralex traded 54 cents up from Tuesday at $40.21
CIBC raised the target price on Dollarama to $55.00 from $54.00. Dollarama opened trading Wednesday better by 33 cents to $52.30
CIBC raised the rating on Linamar Corp to outperform from neutral. Linamar shares picked up 38 cents to $61.54.
ON BAYSTREET
The TSX Venture Exchange squeaked higher 4.77 points to kick off Wednesday at 739.22.
Seven of the 12 TSX subgroups were negative in the first hour Wednesday, as health-care slid 1.5%, while consumer discretionary and financial stocks each faded 0.7%.
The five gainers were paced mostly by gold, brightening 1.9%, while materials and information technology each gained 1.2%.
ON WALLSTREET
Stocks fell slightly on Wednesday, taking a breather after the Dow Jones Industrial Average topped a significant milestone.
The 30-stock index shed 177.69 points to open the week’s last full session at 29,868.55.
The S&P 500 skidded 15.07 points to 3,620.34.
The NASDAQ erased 7.47 points to 12,029.32.
Trading volumes are expected to be lighter than usual ahead of the Thanksgiving holiday.
JPMorgan Chase and IBM led the Dow lower, falling more than 1% each. Energy and financials each fell at least 1% and were the worst-performing sectors in the S&P 500.
On the macroeconomic front, U.S. weekly jobless claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed by Dow Jones and up from 742,000 the previous week.
U.S. markets will be closed for the Thanksgiving holiday on Thursday and will have a short session on Friday.
Prices for the 10-Year Treasury were up, lowering yields to 0.86% from at Tuesday’s 0.88%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 38 cents to $45.29 U.S. a barrel.
Gold prices climbed $5.60 to $1,810.20 U.S.
