Apr 04, 2019 (Baystreet.ca via COMTEX) —
Equities in Toronto opened little changed on Thursday, after rising all days this week, as shares of precious metal miners slipped and as investors awaited signs of further progress in U.S.-China trade talks.
The S&P/TSX Composite Index squeezed up 7.69 points to kick off Thursday at 16,287.55
The Canadian dollar inched backward 0.08 cents at 74.87 cents U.S.
CIBC cut the target price on Hudson’s Bay Co. to $10.00 from $12.00. Bay shares faded 18 cents, or 2.3%, to $7.80.
RBC raised the target price Roots Corp. to $5.00 from $4.50. Roots gained 23 cents, or 5.5%, to $4.45.
On the economic beat, Western University’s IVEY School of Business reported its Purchasing Managers Index for March, The PMI measured 54.3 in March, up substantially from the 50.6 registered in February, but significantly lower than the 59.8 issued in March 2018.
The TSX Venture Exchange skidded 2.54 points to 624.84
The 12 Toronto subgroups were evenly split in the first hour, as health-care stocks gained 0.5%, while financials and utilities tacked on 0.3% each.
The half-dozen laggards were weighed most by gold, down 0.9%, materials, sliding 0.5%, and energy, off 0.3%.
Stocks rose on Thursday as investors awaited more news on a potential trade deal between China and the U.S.
The Dow Jones Industrial Average leaped 120.79 points to start Thursday’s session at 26,338.92, led by a 2% gain in Boeing.
The S&P 500 gained 2.01 at 2,875.41, as the communications services and industrials sectors outperformed.
The NASDAQ Composite backtracked 10.26 points to 7,885.29, as Facebook rose.
Boeing rose despite Ethiopia saying the company must review the “controllability” of its 737 Max 8 jet. This comes after an Ethiopian Airlines flight operated with a 737 Max 8 crashed last month.