Manulife, Telus in focus
The S&P/TSX composite index recovered 62.93 points from a lower open to pause for lunch at 13,963.42
The Canadian dollar gained
On the earnings front, Manulife Financial Corp. says it had
Telus Corp. posted
The gold sector rose as Barrick Gold Corp. lost
The consumer discretion sector also helped lift the TSX as Canadian Tire Corp. earned quarterly net income of
The base metals sector declined as March copper dipped
The industrials sector fell and Bombardier Inc. tumbled
The energy sector was down as shares in Cenovus Energy Inc. lost
Cenovus also says its quarterly dividend will rise 10% to
Internationally, Italian Prime Minister
On the economic front, Statistics Canada told us this morning that its new housing price index rose 0.1% in December, following no change in November. Monthly price movements have been fairly static since
All but four of the 14 Toronto subgroups were higher by midday, led by gold, up 2.1%, health-care stocks, stronger by 1%, and financials, up 0.6%.
The four laggards were anchored mostly by metals and mining, down 2.4%, global base metals, fading 0.7%, and industrials, off 0.4%.
A bad batch of economic data and lackluster earnings didn't keep investors from buying stocks Thursday.
The Dow Jones Industrial Average regained 18.02 points by
The S&P 500 index forged higher 3.63 points to 1,822.89. The NASDAQ prospered 17.31 points to 4,218.60
Corporate earnings weren't particularly good. Shares of Dow component Cisco fell after the company's weak revenue guidance disappointed investors.
Despite reporting lower revenue and earnings, Cisco raised its dividend.
But cable stocks were moving dramatically after Comcast announced plans to acquire Time Warner Cable in a
Time Warner Cable shares jumped on the news, while Comcast fell. Shares of Charter Communications, a smaller cable company that had hoped to acquire Time Warner Cable, plunged. Shares of Cablevision Systems, which some feel could be the next cable company to be taken over, were also down after opening sharply higher.
In other company news, Pepsi announced an increase in quarterly profit and revenue, but missed sales estimates, sending shares lower.
Goodyear reported an increase in profit and beat estimates. Shares of the tire giant spiked almost 10%.
Netflix said it acquired the rights for the animated series "Star Wars: The Clone Wars." The stock was up slightly and hit a new all-time high.
Investors were disappointed after a government report showed retail sales unexpectedly fell in January. Economists were looking for no change last month, but sales dropped 0.4%. Excluding auto sales, sales were flat. Higher-than-expected unemployment claims also didn't help.
Prices for 10-year U.S. Treasuries inched higher, dropping yields to 2.75% from Wednesday's 2.76%. Treasury prices and yields move in opposite directions.
Oil prices eked higher
Gold prices was positive
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