Canadian shares were little changed as gains among energy producers following higher oil prices overpowered declines in raw-material producers.
The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) was little changed at 14,655.59 at 12:15 p.m. in Toronto. Five shares declined for every four stocks that advanced as half of the ten main groups gained.
The energy sector, the main index's second most heavily weighted group, added 0.2 percent as oil, Canada’s largest export, reaches a two-week high.
Encana Corp. (TSE:ECA), Canada’s largest natural gas producer, gained 0.9 percent to C$24.81 after it reversed to profit in the first quarter, beating analysts' expectations, helped by higher prices for the heating and power-plant fuel.
Aurora Oil & Gas Ltd. (TSE:AEF) surged 6 percent to C$4.25 after Baytex Energy Corp. (TSE:BTE) increased its offer for the company.
Suncor Energy Inc. (TSE:SU), the nation's largest energy company by market value, increased 0.6 percent to c$43.05.
West Texas Intermediate oil for June delivery picked up 0.7 percent to $101.30 a barrel at 11:33 a.m. on the New York Mercantile Exchange.
Financials, the index's most heavily weighted sector, slipped 0.1 percent. Royal Bank of Canada (TSE:RY), the company with the highest weighting in the index, lost 0.1 percent to C$73.44. Toronto-Dominion Bank (TSE:TD), the second-largest bank, was flat at C$52.18.
The materials sub-index, which includes mining shares, decreased less than 0.1 percent as prices of gold and copper fell.
Barrick Gold Corp. (TSE:ABX) sagged 0.4 percent to C$18.85, and Goldcorp Inc. (TSE:G) sank 1 percent to C$26.88. First Quantum Minerals Ltd. (TSE:FM), a copper miner, gave up 0.9 percent to C$21.84.
Gold futures for June delivery was little changed at $1,295.40 an ounce at 12:05 p.m. on the Comex in New York. Copper futures for delivery in July slid 0.6 percent to $3.132 a pound.
Blackberry Ltd. (TSE:BB), the beleaguered Canadian smartphone maker, rose 1.2 percent to C$8.19. The Waterloo, Ontario-based company launched a low-cost touchscreen device in Jakarta, the Z3.
Hudson’s Bay (TSE:HBC), Canada's largest department-store chain, sank 4.2 percent after saying a group of shareholders has agreed to sell 7,870,000 shares of the retailer, or about 10 percent of their holdings, at C$17.80 each in a secondary offering.
The junior S&P/TSX Venture Composite Index (CVE:OSPVX) slid 0.1 percent to 987.60. Spartan Energy Corp. (CVE:SPE), the heaviest stock in the gauge, surrendered 0.5 percent to C$3.87.
In the U.S. market, shares advanced mid corporate deals activity and data that showed retail sales in March were higher than initially reported. The S&P 500 (INDEXSP:.INX) and the 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) each inched up 0.1 percent at 11:14 a.m. in New York. The tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) edged down 0.1 percent. Most followed shares included DirecTV, Keurig Green Mountain, Pfizer, McKesson, Elizabeth Arden, Valeant Pharmaceuticals, Merck & Co, BP, Rackspace Hosting, and Blackberry
Reported by Proactive Investors 18 hours ago.
The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) was little changed at 14,655.59 at 12:15 p.m. in Toronto. Five shares declined for every four stocks that advanced as half of the ten main groups gained.
The energy sector, the main index's second most heavily weighted group, added 0.2 percent as oil, Canada’s largest export, reaches a two-week high.
Encana Corp. (TSE:ECA), Canada’s largest natural gas producer, gained 0.9 percent to C$24.81 after it reversed to profit in the first quarter, beating analysts' expectations, helped by higher prices for the heating and power-plant fuel.
Aurora Oil & Gas Ltd. (TSE:AEF) surged 6 percent to C$4.25 after Baytex Energy Corp. (TSE:BTE) increased its offer for the company.
Suncor Energy Inc. (TSE:SU), the nation's largest energy company by market value, increased 0.6 percent to c$43.05.
West Texas Intermediate oil for June delivery picked up 0.7 percent to $101.30 a barrel at 11:33 a.m. on the New York Mercantile Exchange.
Financials, the index's most heavily weighted sector, slipped 0.1 percent. Royal Bank of Canada (TSE:RY), the company with the highest weighting in the index, lost 0.1 percent to C$73.44. Toronto-Dominion Bank (TSE:TD), the second-largest bank, was flat at C$52.18.
The materials sub-index, which includes mining shares, decreased less than 0.1 percent as prices of gold and copper fell.
Barrick Gold Corp. (TSE:ABX) sagged 0.4 percent to C$18.85, and Goldcorp Inc. (TSE:G) sank 1 percent to C$26.88. First Quantum Minerals Ltd. (TSE:FM), a copper miner, gave up 0.9 percent to C$21.84.
Gold futures for June delivery was little changed at $1,295.40 an ounce at 12:05 p.m. on the Comex in New York. Copper futures for delivery in July slid 0.6 percent to $3.132 a pound.
Blackberry Ltd. (TSE:BB), the beleaguered Canadian smartphone maker, rose 1.2 percent to C$8.19. The Waterloo, Ontario-based company launched a low-cost touchscreen device in Jakarta, the Z3.
Hudson’s Bay (TSE:HBC), Canada's largest department-store chain, sank 4.2 percent after saying a group of shareholders has agreed to sell 7,870,000 shares of the retailer, or about 10 percent of their holdings, at C$17.80 each in a secondary offering.
The junior S&P/TSX Venture Composite Index (CVE:OSPVX) slid 0.1 percent to 987.60. Spartan Energy Corp. (CVE:SPE), the heaviest stock in the gauge, surrendered 0.5 percent to C$3.87.
In the U.S. market, shares advanced mid corporate deals activity and data that showed retail sales in March were higher than initially reported. The S&P 500 (INDEXSP:.INX) and the 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) each inched up 0.1 percent at 11:14 a.m. in New York. The tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) edged down 0.1 percent. Most followed shares included DirecTV, Keurig Green Mountain, Pfizer, McKesson, Elizabeth Arden, Valeant Pharmaceuticals, Merck & Co, BP, Rackspace Hosting, and Blackberry
Reported by Proactive Investors 18 hours ago.