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Equities Shake off Mini-Slump

Baystreet - Thu Jan 18, 3:29PM CST
Stocks in Canada’s largest centre found a more positive vibe Thursday, recovering some lost ground, led by industrials and consumer staples.

The TSX Composite gained 61.71 points to 20,756.73.

The Canadian dollar fell 0.06 cents to 74.11 cents U.S.

In consumer staples, the leader among gainers, Maple Leaf Foods raced ahead 82 cents, 3.1%, to $27.19, while Alimentation Couche-Tard popped $2.18, or 2.8%, to $81.09.

Industrials also succeeded, with GFL Environmental jumping $1.80, or 4.1%, to $45.64, while Badger Infrastructure Solutions triumphed $1.66, or 3.8%, to $45.81.

In communications, Quebecor grabbed $1.11, or 3.4%, to $33.75, while Cogeco Communications advanced 80 cents, or 1.3%, to $62.41.

Health-care stocks faced downward, though, with Tilray sinking 16 cents, or 5.7%, to $2.65, while Sienna Senior Living faded two cents to $11.79.

In energy, Advantage Energy dropped 32 cents, or 3.6%, to $8.50, while Nuvista Energy sank 27 cents, or 2.5%, to $10.74.

Utilities were lower, too, as Algonquin Power & Utilities scaling back 15 cents, or 1.8%, to $8.06, while Fortis Inc. dipped 67 cents, or 1.2%, to $53.87.


The TSX Venture Exchange fell 2.8 points on the session to 551.18.

Seven of the 12 subgroups were in the green by day’s end, with consumer staples up 1.7%., while industrials surged 1.5%, and communications ahead 0.9%

The five laggards were weighed most by health-care, down 1.5%, energy, off 0.6%, and utilities, retreating 0.3%.

The half-dozen laggards were weighed most by health-care, down 0.9%, while utilities and gold each slipped 0.5%.


Tech companies, led by Apple, powered the market Thursday and pulled the major averages into positive territory.

The Dow Jones Industrials fought its way back into the win column 201.94 points at 37,468.61

The much broader index regained 41.73 points to 4,780.94.

The NASDAQ spiked 200.03 points, or 1.4%, to 15,055.65.

Apple shares advanced around 3.3% after Bank of America upgraded the stock to buy, calling for more than 20% upside over the next 12 months. The tech giant had its best day since May 5, 2023.

Taiwan Semiconductor Manufacturing Co, the world’s largest chipmaker, added 9.8% after posting an earnings and revenue beat for the fourth quarter.

First-time filings for unemployment insurance came in at 187,000 for the week ended Jan. 13, down 16,000 from the previous period, the Labor Department reported Thursday. That was stronger than economists’ consensus estimate of 208,000, according to numbers gathered by Dow Jones.

Prices for the 10-year Treasury faded, raising yields to 4.14% from Wednesday’s 4.10%. Treasury prices and yields move in opposite directions.

Oil prices gained $1.51 to $74.07 U.S. a barrel.

Gold prices shone brighter $18.40 to $2,024.90.

Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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