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S&P/TSX Composite Index

16,561.12 real time data change down
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Change: -6.30 (-0.04%)

S&P/TSX Venture Composite Index

725.24 real time data change down
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Change: -3.73 (-0.51%)
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4:52 AM EST, December 21, 2017
TSX Retains Gains for Wednesday

Equities in Toronto held onto earlier acquired gains by Wednesday's close, as energy and tech stocks overcame losses in health-care.

The S&P/TSX Composite Index prospered 26.32 points to end Wednesday at 16,159.67

The Canadian dollar tacked on 0.31 cents to 77.95 cents U.S.

Energy stocks led the way, as Suncor gained 27 cents to $44.54, while Crescent Point Energy hiked 40 cents, or 4.6%, to $8.92.

BlackBerry jumped $1.58, or 11.3%, to $15.55, its highest since May 2013 after beating analysts' earnings estimates with strong business software sales and licensing revenue.

Elsewhere among techs, Constellation Software climbed $8.47, or 1.1%, to $772.03.

Materials stocks did well, too, as Agnico Eagle Mines acquired 46 cents to $56.90, while First Quantum Minerals zoomed 60 cents, or 3.6%, to $17.52.

Health-care stocks faded, as yesterday's hero, Valeant Pharmaceuticals, dipped five cents to $26.78, while Aphria Inc. lost 36 cents, or 2.4%, to $14.45.

Telecoms also pointed downward, as TELUS Corp. listed lower 41 cents to $47.60, while Shaw Communications fell 26 cents to $28.97.

In consumer staples, Loblaw Companies drifted lower 45 cents to $68.20, while Saputo dipped 12 cents to $44.82.

On the economic front, Statistics Canada said wholesale trade was up 1.5% to $63.0 billion in October, more than offsetting the 1.1% decline in September. The agency said gains were reported in six of seven sub-sectors, together representing 81% of total wholesale sales.

Moreover, average weekly earnings of non-farm payroll employees were $983 in October, virtually unchanged from the previous month.

Following little year-over-year growth throughout most of 2016, earnings have increased at a faster pace in 2017. Compared with October 2016, earnings rose 3.1%.

ON BAYSTREET

The TSX Venture Exchange squeezed out gains of 0.73 points to 805.69

The 12 TSX subgroups were evenly split by the closing bell, as energy vaulted 2%, information technology towered over Tuesday by 1.4%, and materials gained 1.3%.

The half-dozen laggards were weighed mostly by health-care, off 1%, telecoms, sliding 0.8%, consumer staples, off 0.4%.

ON WALLSTREET

U.S. equities closed little changed on Wednesday as Congress approved a bill that would cut corporate taxes.

The Dow Jones industrials finished negative 28.1 points to 24,726.65

The S&P 500 subtracted 2.22 points to 2,679.25, with utilities and real estate offsetting a 1.4 percent gain in energy.

The NASDAQ composite index fell 2.89 points to 6,960.96, as large-cap tech stocks like Apple, Facebook and Alphabet traded lower.

Senate Republicans approved sweeping amendments to the U.S. tax code Tuesday, including reducing the corporate tax rate to 21% from 35%.

Actuant, General Mills, Herman Miller and Winnebago were among the firms reporting earnings Wednesday.

In corporate news, shares of FedEx rose 3.5% after the delivery giant's quarterly results surpassed estimates. Micron shares popped 4% as its earnings and revenue also beat expectations.

In economic news, weekly mortgage applications fell 4.9%, while existing home sales hit an 11-year high.

Prices for the benchmark 10-year Treasury note moved higher, lowering yields to 2.50% from Tuesday's 2.45%. Treasury prices and yields move in opposite directions.

Oil prices acquired 52 cents a barrel to $58.08 U.S.

Gold prices improved $4.80 to $1,269.00 U.S. an ounce.



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