TORONTO: Canada’s main stock index was higher on Thursday, helped by gains in financial stocks and a jump in Shaw Communications’ shares after the company posted a better than expected profit.
At 9:45 a.m. ET (1345 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index was up 38.3 points, or 0.25 percent, at 15,296.2.
Shaw Communications provided the biggest boost to the index with a 10 percent rise. The telecom services company beat second-quarter profit expectations as wireless subscribers more than doubled from a year ago.
The financial sector, which makes up for more than a third of the index, rose 0.4 percent.
Tensions around Syria eased after Trump amended an earlier warning of a quick military strike against the country in retaliation for a suspected chemical weapons attack on civilians, saying it “could be very soon or not so soon at all”.
Wall Street opened higher on expectations of a strong corporate earnings season and easing of nerves over Syria conflict.
Oil and gold prices slipped after peaking on Wednesday but geopolitical worries and trade concerns kept further losses at bay.
Spot gold slipped 0.9 percent to $1,341.26 an ounce after a four-day rally.
Brent crude futures were down 47 cents at $71.59 a barrel after hitting their highest since 2014 at $73.09 on Wednesday.
The TSX posted one new 52-week highs and two new lows. Across all Canadian issues there were two new 52-week highs and nine new lows.
Neovasc Inc, Aurora Cannabis and Centric Health were among the most active Canadian stocks by volume.
Data showed prices of new home in Canada fell 0.2 percent in February, the first decrease since July 2010 as recent higher interest rates and tighter mortgage regulations put a damper on the market.
Source: Brecorder
