The Toronto stock market opened higher amid commodity prices that made strong gains for a second day, and solid employment news from the U.S. ahead of the first reading on how the American economy performed during the first quarter.
The S&P/TSX composite index gained 32.40 points to 12,302.83.
The Canadian dollar was ahead 0.43 of a cent to 97.93 cents U.S.
U.S. indexes were weak despite data showing that jobless insurance claims for last week were down 16,000 to 339,000, much better than expectations for 350,000.
The Dow Jones industrial index was up 2.54 points to 14,678.84, weighed down by earnings disappointments from conglonmerate 3M and energy giant ExxonMobil. The Nasdaq climbed 15.51 to 3,285.16 and the S&P 500 rose 4.08 points to 1,582.87.
U.S. Treasuries prices slipped on Thursday, as investors prepared for an upcoming $29-billion auction of seven-year notes, the last part of the government’s $99-billion offerings of longer-dated debt this week.
The the June crude contract was down three cents to US$91.40 a barrel. May copper gained eight cents to US$3.24 a pound after running up six cents Wednesday on hopes that the European Central Bank will cut interest rates in order to stimulate the economy next Thursday. June bullion gained $23.10 to $1,446.80 (U.S.) an ounce.
With files from Reuters