BMO, Weston in Focus
Equities in
Toronto
moved upward on Thursday to a fresh two-month high as energy and mining stocks advanced despite lower crude oil prices, while financial sector stocks also rose.
The S&P/TSX Composite Index gained 50.6 points to open Thursday at 13,068.53
The Canadian dollar faded 0.16 cents to 74.39 cents
U.S.
Canadian Natural Resources Ltd cuts its 2016 capital expenditure on Thursday after it reported an 89% fall in quarterly profit, amid a steep decline in crude prices.
Canadian Natural trades on the symbol CNQ, and opened Thursday up $1.62, or 5.4%, to $31.79
Valeant Pharmaceuticals International said it appointed Ari Kellen executive vice president, succeeding the outgoing Deb Jorn.
The beleaguered Valeant saw its shares sink $1.37, or 1.5%, to $89.39.
CIBC raised the target price on Bank of Montreal to $79.00 from $78.00
BMO shares added 25 cents to 75.94.
Barclays cut the target price on George Weston to $123.00 from $124.00 with an overweight rating.
George Weston eased two cents to $110.29
National Bank Financial cut the rating on K-Bro Linen to sector perform from outperform.
K-Bro shares fell 24 cents to $45.01.
ON BAYSTREET
The TSX Venture Exchange picked up 3.54 points to 549.77
Eight of the 13 TSX subgroups gained in the first hour, with gold up 1.8%, energy better by 1.6%, and materials up 1.4%.
The five laggards were weighed most by the metals and mining and health-care groups, each down 0.7%, while consumer staples surrendered 0.3%.
ON WALLSTREET
U.S.
stocks traded lower Thursday, but holding much of the week's gains, after service sector reports and ahead of Friday's jobs data.
The Dow Jones Industrial average dwindled 42.22 points to 16,857.10, with McDonald's the greatest decliner and Caterpillar and Intel leading advancers.
The S&P 500 slipped six points to 1,980.45, with health-care leading eight sectors lower and industrials and information technology the only gainers.
The NASDAQ index fell 9.86 points to 4,693.56
The Institute for Supply Management's non-manufacturing survey for February came in at 53.4. The figure was expected at 53, down from 53.5 in January.
Elsewhere on the economic beat, January factory orders rose 1.6%
The final February Markit services PMI was 49.7, down from January's final 53.2 print
Ahead of the opening bell, weekly jobless claims came in at 278,000. Revised fourth-quarter productivity declined 2.2%, while unit labour costs rose 3.3%.
Prices for the 10-year Treasury inched lower, raising yields to 1.85% from Wednesday's 1.84%. Treasury prices and yields move in opposite directions.
Oil prices lost 41 cents a barrel to $34.25
U.S.
Gold prices grew $6.28 to $1,246.26
U.S.
an ounce.
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