Canadian Stocks Rise Slightly on Thursday

Strategic Insights -

Canadian stocks experienced a moderate increase on Thursday, with the S&P/TSX Composite Index rising 15.11 points, or 0.12 percent, to close at 13,047.78. The gains were largely driven by strong reports from Thomson Reuters Corp. and Barrick Gold Corp., which saw significant revenue and earnings growth. Meanwhile, Imperial Oil Ltd. and Suncor Energy Inc. reported losses, with Imperial Oil seeing a 40 percent increase in net profit and Suncor Energy declining 2.75 percent.

Key Takeaways:

  • The S&P/TSX Composite Index rose 15.11 points, or 0.12 percent, to close at 13,047.78.
  • Thomson Reuters Corp. reported a second-quarter revenue of 3.4 billion U.S. dollars, up 7 percent from the previous year.
  • Barrick Gold Corp. saw its second-quarter net earnings rise 35 percent to 1.16 billion U.S. dollars, beating analyst expectations.
  • Imperial Oil Ltd.'s net profit in the second quarter rose 40 percent, driven by higher oil prices and improved production at its Cold Lake oilsands business.
  • Average weekly earnings of non-farm payroll employees in Canada jumped 0.5 percent between April and May.
  • The Canadian dollar appreciated slightly against its U.S. counterpart, with one U.S. dollar buying 0.9491 Canadian dollars at 5 p.m. local time.

Statistics:

  • S&P/TSX Composite Index: 13,047.78 (up 15.11 points, or 0.12 percent)
  • Thomson Reuters Corp. revenue: 3.4 billion U.S. dollars (up 7 percent from the previous year)
  • Barrick Gold Corp. net earnings: 1.16 billion U.S. dollars (up 35 percent)
  • Imperial Oil Ltd. net profit: up 40 percent
  • Average weekly earnings of non-farm payroll employees in Canada: 0.5 percent increase between April and May
  • One U.S. dollar buying 0.9491 Canadian dollars at 5 p.m. local time

Sources:

  • Xinhua (via COMTEX) - "Canadian stocks rise slightly on Thursday"
  • Statistics Canada - "Average weekly earnings of non-farm payroll employees in Canada"
  • Barrick Gold Corp. - Second-quarter financial report
  • Imperial Oil Ltd. - Second-quarter financial report
  • Comtex News Network, Inc. - SmarTrend Alert (no date specified)