The Toronto stock market snapped a two-session losing streak Thursday, getting a boost from financial issues.
The S&P/TSX composite index closed up 104.26 points, or 0.7%, at 14,125.11.
All but one of 10 main TSX groups were up, with the heavyweight financial sector gaining 0.8%.
TD Bank climbed $1.73, or 2.4%, to $72.84, while Royal Bank finished unchanged at $56.10.
Energy issues advanced0.4% as U.S. crude ended higher for the first time in five sessions, settling up $1.50 at US$81.44 a barrel.
Encana Corp. shares gained 44¢, or 0.7%, to $61.89.
The materials sector rose 0.9%, while the gold subgroup was up 2.1% on stronger bullion prices.
Spot gold rose to US$733.20, as the U.S. dollar weakened.
Kinross Gold gained 21¢, or 1.4%, to $14.87.
Research in Motion closed up $4.28, or 4.5%, at $100.30, as investors awaited earnings after the bell.
RIM announced after the close that its second-quarter profit had topped expectations, rising to $287.7 million, or 50¢ a share.
The junior S&P/TSX Venture composite index was down 5.11 points to 2,834.66.
The Canadian dollar was up 0.1 at US$1.0026 after Bank of Canada deputy governor David Longworth said Wednesday the central bank is prepared to intervene to keep its key overnight interest rate close to the 4.5% target and improve liquidity in money markets.
The central bank on Thursday injected another $495 million into money markets, the sixth consecutive session in which it had intervened. So far, it has injected a total of $4.857 billion.
On Wall Street, U.S. stocks barely budged on ahead of Friday’s jobs report for September, which could shed light on the economy and the outlook for interest rates.
The Dow Jones industrial average was up 6.26 points, or 0.04%, to end at 13,974.31. The S&P 500 was up 3.25 points, or 0.21%, at 1,542.84. The Nasdaq composite index was up 4.14 points, or 0.15%, at 2,733.57.
The U.S. Labor Department report, due on Friday morning, is expected to show employers added 100,000 jobs outside the farm sector last month. In August, employers unexpectedly cut 4,000 jobs.
TSX finishes with 104-point gain
- By: IE Staff
- October 4, 2007 October 4, 2007
- 15:50