Toronto Stock Exchange index hit a fresh record high on Monday and was on course for a fourth month of gains as a jump in oil prices lifted energy stocks.
* At 09:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 34.49 points, or 0.17%, at 19,886.67. The benchmark was on course to end May with a near 4% gain.
* Energy stocks climbed 1.7% to lead sectoral gains as U.S. crude prices and Brent crude added 1.4% each. [O/R]
* A Reuters poll of strategists predicted that the main index will climb above the 20,000 mark by the end of 2021 as a recovery in the global economy from the coronavirus crisis boosts the outlook for resource stocks.
* Data showed Canada‘s current account balance was a surplus of C$1.18 billion ($977.47 million) in the first quarter, from a revised C$5.27 billion deficit in the fourth quarter of 2020, due to higher trade in goods and services.
* Cloud-based software maker Dye & Durham Ltd jumped 18.0% to the top of TSX as a management-led shareholder group offered to acquire the company for about C$3.4 billion ($2.8 billion).
* Energy firm Pieridae Energy Ltd rose 2.4% after the company said it hired Japanese lender MUFG Bank to help raise $10 billion for its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia.
* Dundee Precious Metals <DPM.TO> fell 4.4%, the most on the TSX, after it agreed to buy INV Metals Inc, which soared 51%. The second biggest decliner was Cronos Group Inc <CRON.TO>, down 3.8%.
* The most heavily traded shares by volume were Athabasca Oil <ATH.TO>, Baytex Energy <BTE.TO> and Whitecap Resources <WCP.TO>.
* On the TSX, 136 issues were higher, while 78 issues declined for a 1.74-to-1 ratio favoring gainers, with 9.33 million shares traded.
* The TSX posted 9 new 52-week highs and no new lows.
* Across all Canadian issues there were 63 new 52-week highs and 5 new lows, with total volume of 27.06 million shares.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Bernadette Baum)
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
