Solid BCE earnings drive market
The S&P/TSX composite index pointed up 106.35 points to greet noon at 13,666.04
The Canadian dollar regained
BCE posted quarterly adjusted net earnings of
In other corporate news, Bombardier shares gained
Base metals stocks advanced, with March copper up
The energy sector climbed as Imperial Oil tacked on
Financials also gave the TSX a boost, as RBC shares traveled higher by
The gold sector declined as Barrick Gold dipped
On matters economic, figures released by Statistics Canada revealed that our merchandise imports grew 1.2% and exports increased 0.9% in December. As a result,
All but one of the 14 Toronto subgroups were higher, as metals and mining popped 2.2%, global base metals gained 1.7%, and energy moved higher 1.3%.
Only gold stocks missed the party, slumping 0.5%.
Stocks got a boost Thursday as investors welcomed some good news about the jobs market ahead of the government's all-important monthly employment report.
The Dow Jones Industrial Average jumped 154.64 points, or 1%, to pause for lunch at 15,594.87.
The S&P 500 index added 18.25 points to 1,769.89. The NASDAQ grew 43.07 points to 4,054.62
Despite the day's gains, the three main indexes are still down about 5% from their most recent highs.
Shares of Twitter plunged about 20% after the company released its first quarterly results since going public last year. Investors were disappointed by a forecast of slower sales growth.
General Motors shares were also lower after the auto giant reported earnings that fell short of estimates, while revenue was roughly in line.
Sony shares initially declined after the company announced a series of major changes and warned it would lose
Disney helped lead the Dow higher. The media conglomerate's stock was up 5% thanks to solid sales and earnings. Strength in the company's cable network unit, which includes ESPN, and the movie studio unit helped lead the way. Disney had a huge box office smash in its latest quarter with the animated movie "Frozen."
Also on the bright side, shares of Green Mountain Coffee Roasters soared 35% on news that the firm is partnering with Coca-Cola on its forthcoming cold-beverage-brewing system.
Though SodaStream will face competition from the new product, its shares were up 11% following the announcement after a report from
Akamai Technologies, an Internet content delivery network, surged almost 20% after a strong earnings report.
AOL shares gained ground after the company's quarterly revenue came in higher than expectations thanks to stronger ad sales.
LinkedIn will report earnings after the closing bell.
Economically speaking, investors were encouraged after fewer-than-expected Americans filed for unemployment benefits last week. The data is a positive sign ahead of the January jobs report, which will be released Friday.
One survey of economists is forecasting 178,000 jobs were created in January, up from only 74,000 jobs the prior month, with an unemployment rate of 6.7%.
Prices for 10-year U.S. Treasuries faded, raising yields to 2.71% from Wednesday's 2.67%. Treasury prices and yields move in opposite directions.
Oil prices took on
Gold prices sagged
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