Toronto stocks ended barely changed Wednesday as the impact of a stronger Canadian dollar on industrial and financial issues offset gains in energy stocks. The S&P/TSX composite index closed up 2.02 points, or 0.02%, at 9,022.71.
Six of the 10 TSX groups ended lower. Volume was 281 million shares.
Energy stocks rose 1.9% as global supply outages have lifted prices
Talisman Energy gained $1.76, or 5%, to $34.75, while shares of Canadian Natural Resources advanced $2.55, or 5%, to $51.90.
The TSX information technology sector closed 0.89% higher, as shares of Research in Motion jumped $5.38, or 6%, to $94.78. The company said Britain’s mm02 Plc would offer a revamped wireless RIM BlackBerry later this month.
The heavily weighted financial group slipped 0.52% following a rally in the Canadian dollar.
The Canadian dollar shot up by more than a 1¢ on foreign exchange markets after reports showed Canada’s trade surplus grew in November while the trade deficit in the U.S. widened.
Canada’s trade surplus for the month hit $7.3 billion, the third highest since 1997 and slightly less than the record of $7.5 billion set in June 2004.
The U.S. Commerce Department reported that the U.S. trade deficit grew to a new high of US$60.3 billion in November, up 7.7% from the previous record of US$56 billion set in October.
The loonie closed up 1.21¢ at US83.31¢.
Manulife Financial eased 66¢, or 1%, to $54.10, while Bank of Nova Scotia (dropped 20¢, or 0.5%, to $39.65.
The junior S&P/TSX Venture composite index gained 7.11 points, or 0.40%, at 1,779.64.
On Wall Street, U.S. markets ended higher as a wave of late buying pushed indexes up after a lackluster session.
Strength in technology helped offset a disappointing report from United Parcel Service Inc. and concerns about a widening of the U.S. trade deficit.
Intel climbed 2.8% a day after the chipmaker reported better-than-expected quarterly results.
The Dow Jones industrial average was up 61.56 points, or 0.58%, to end at 10,617.78. The S&P 500 index was up 4.71 points, or 0.40%, to close at 1,187.70. The Nasdaq composite index was up 12.91 points, or 0.62%, to finish at 2,092.53.
After the closing bell, Apple Computer posted a quarterly profit that more than quadrupled.