Mar­kets sum­mary

The Globe and Mail (Alberta Edition) - - REPORT ON BUSINESS -

CANA­DIAN STOCKS

En­ergy stocks helped push Canada’s main stock index to close up on Thurs­day for a ninth straight day of gains. The Toronto Stock Ex­change’s S&P/TSX Com­pos­ite Index rose 0.22 per cent, to 16,143.55.

Lead­ing the index were ATS Au­to­ma­tion Tool­ing Sys­tems, up 11.1 per cent, Spar­tan En­ergy, up 6.6 per cent, and Ver­mil­ion En­ergy, higher by 6 per cent.

The most heav­ily traded shares by vol­ume were Aurora Cannabis, lower by 3.5 per cent, Cen­ovus En­ergy, up 2.9 per cent, and Bay­tex En­ergy, up 2.5 per cent.

U.S. STOCKS

Wall Street ended a choppy trad­ing ses­sion lower, as in­vestors grap­pled with es­ca­lat­ing trade ten­sions and rising oil prices.

The Dow Jones In­dus­trial Av­er­age fell 0.22 per cent, to 24,713.98, the S&P 500 lost 0.09 per cent, to 2,720.13 and the Nasdaq Com­pos­ite dropped 0.21 per cent, to 7,382.47.

So-called de­fen­sive stocks were among the worst per­form­ers among the 11 ma­jor sec­tors of the S&P 500. Rate-sen­si­tive tele­com, real es­tate and util­ity shares were down in the face of in­creas­ing U.S. gov­ern­ment bond yields.

Cisco Sys­tems’ stock was the big­gest drag on the S&P 500 and the Nasdaq, fall­ing 3.8 per cent de­spite beat­ing profit and rev­enue es­ti­mates in its post­mar­ket earn­ings re­port. In a re­search note, Cit­i­group said in­vestor per­cep­tion is that the tech­nol­ogy com­pany is los­ing mar­ket share.

Wal­mart shares were down 1.9 per cent. Wal­mart said profit mar­gins re­mained un­der pres­sure owing to price cuts and higher freight costs, weigh­ing on its shares even as sales and earn­ings came in stronger than ex­pected..

COM­MODI­TIES

Oil prices climbed above US$80 a barrel for the first time since Novem­ber, 2014, be­fore re­treat­ing on a stronger dol­lar and climb­ing U.S. out­put to end un­changed.

Gold was flat af­ter slid­ing to a fresh 2018 low as an­other rise in U.S. bond yields and con­cerns over po­lit­i­cal risk in Italy held the U.S. dol­lar index near its 2018 peak.

FOREX AND BONDS

The Cana­dian dol­lar edged lower against its U.S. coun­ter­part, pulling back from a near one-week high as in­vestors turned at­ten­tion to do­mes­tic in­fla­tion and re­tail sales data due on Fri­day.

The U.S. dol­lar climbed to a four-month peak against the yen, bol­stered by the rise in U.S. Trea­sury yields that sug­gests a more upbeat out­look for the world’s largest econ­omy.

Cana­dian gov­ern­ment bond prices were lower across a steeper yield curve, with the two-year down 1 cent to yield 2.064 per cent and the 10-year fall­ing 16 cents to yield 2.520 per cent.

U.S. 10-year Trea­sury yields rose to a near seven-year peak, ex­tend­ing this week’s bond mar­ket sell-off, as traders and in­vestors have not reached a con­sen­sus on whether it was time to buy or if the mar­ket was vul­ner­a­ble to more sell­ing.

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