Stocks in Toronto dipsied and doodled before ending just a shade above breakeven Wednesday, the second-last trading day of the year, as health-care strength narrowly overtook weakness in real-estate and tech stocks.
The TSX held onto gains of 2.38 points to 17,545.81.
The Canadian dollar added 0.39 cents to 78.37 cents U.S.
Health-care proved the kings of the day, as Aurora Cannabis rocketed 47 cents, or 4.3%, to $11.14, while Canopy Growth jumped $1.23, or 4%, to $32.25.
In energy stocks, Seven Generations Energy took on 37 cents, or 5.9%, to $6.62, while Whitecap Resources gained 17 cents, or 3.6%, to $4.94.
Among materials, First Majestic Silver leaped 85 cents, or 5.1%, to $17.40, while Fortuna Silver Mines advanced 71 cents, or 7.2%, to $10.52.
Real-estate stocks back-pedalled, as Allied Properties REIT lost 98 cents, or 2.5%, to $37.61, while First Capital REIT dipped 30 cents, or 2.2%, to $13.64.
In tech stocks, BlackBerry surrendered 21 cents, or 2.4%, to $8.48, while Descartes Systems Group slipped $1.79, or 2.3%, to $74.38.
In consumer staples, North West Company skidded 44 cents, or 1.3%, to $32.77, while Alimentation Couche-Tard gave up 52 cents, or 1.2%, to $44.01.
ON BAYSTREET
The TSX Venture Exchange picked up 6.27 points to 865.26.
Seven of the 12 TSX subgroups were higher by the finish, led by health-care, growing 2.1%, while energy prospered 2%, and materials were better by 1.9%.
The five laggards were led downward by real-estate and information technology, each giving 0.7%, and consumer staples, down 0.4%.
ON WALLSTREET
Stocks rose slightly on Wednesday amid renewed vaccine optimism while traders looked for clues on additional fiscal stimulus. The 30-stock average eked out a record closing high.
The Dow Jones Industrials gained 73.89 points to 30,409.56. Disney rose more than 2% to lead the Dow higher.
The S&P 500 recovered five points to 3,732.94. Energy and materials were the best-performing sectors in the S&P 500, jumping more than 1% each. Wednesday marked the fourth positive session in five for both the Dow and S&P 500.
The NASDAQ regained 19.78 points to 12,870.
With just one trading day left in the year, the major averages were on track to end 2020 higher. The Dow is up 6.6% for the year, while the S&P 500 has gained 15.5%.
But the clear year-to-date winner remains the NASDAQ, which has gained 43.4%.
Wednesday’s move higher came after a British regulator approved a coronavirus vaccine developed by the University of Oxford and AstraZeneca for emergency use. The approval followed the discovery of a new Covid strain in the U.K., which has also been confirmed in the U.S.
The number of COVID cases continues to tick higher. The U.S. is now recording at least 180,905 new cases and at least 2,210 virus-related deaths each day, based on a seven-day average calculated by media outlets using Johns Hopkins University data.
Wall Street also continued to weigh the prospects of additional fiscal stimulus as lawmakers continued to disagree over direct payments to Americans.
Senate Majority Leader Mitch McConnell blocked Senate Minority Leader Chuck Schumer’s effort to fast-track the bill, passed by the House late Monday, that would increase checks to $2,000 from $600. McConnell then tied the payments hike to demands from President Donald Trump on tech and the election.
Stimulus payments started to go out Tuesday evening, Treasury Secretary Steven Mnuchin said.
Prices for the 10-Year Treasury were higher, lowering yields to 0.94%, from Tuesday’s 0.94%. Treasury prices and yields move in opposite directions.
Oil prices tallied 30 cents to $48.30 U.S. a barrel.
Gold prices gained $13.70 to $1,896.60.
