Stocks Remain Strong Through Noon Hour
Canada''s main stock index slipped on Thursday following a mixed bag of results, while gloomy forecasts by U.S. companies and an early reading showing the economy contracted again on the other side of the border exacerbated recession fears. The TSX gained 64.84 points to move into noon hour EDT Thursday at 19,319.40. The Canadian dollar eased 0.10 cents to 78 cents U.S. Weighing on the index, Bausch Health dropped $5.64, or 50.6%, to $5.50, its lowest level in more than 25 years, dragging the healthcare index down. Agnico Eagle Mines jumped $4.11, or 8.1%, to $54.77, on reporting better-than-expected quarterly earnings, while cannabis producer Tilray Brands gained 32 cents, or 7.7%, to $4.50, on a jump in revenue. Cenovus Energy regained 18 cents to $23.81, even as it reported a near 11-fold surge in second-quarter profit, helped by its purchase of rival Husky and rising energy prices after the Russian invasion of Ukraine. Ballard Power Systems jumped $1.37, or 15.1%, to $10.44, tracking the jump in U.S. clean energy stocks after Democratic Senator Joe Manchin, a key swing vote, told Senate Majority Leader Chuck Schumer on Wednesday he will now support proposal for new climate change spending.
Stocks Remain Strong Through Noon Hour
Canada''s main stock index slipped on Thursday following a mixed bag of results, while gloomy forecasts by U.S. companies and an early reading showing the economy contracted again on the other side of the border exacerbated recession fears. The TSX gained 64.84 points to move into noon hour EDT Thursday at 19,319.40. The Canadian dollar eased 0.10 cents to 78 cents U.S. Weighing on the index, Bausch Health dropped $5.64, or 50.6%, to $5.50, its lowest level in more than 25 years, dragging the healthcare index down. Agnico Eagle Mines jumped $4.11, or 8.1%, to $54.77, on reporting better-than-expected quarterly earnings, while cannabis producer Tilray Brands gained 32 cents, or 7.7%, to $4.50, on a jump in revenue. Cenovus Energy regained 18 cents to $23.81, even as it reported a near 11-fold surge in second-quarter profit, helped by its purchase of rival Husky and rising energy prices after the Russian invasion of Ukraine. Ballard Power Systems jumped $1.37, or 15.1%, to $10.44, tracking the jump in U.S. clean energy stocks after Democratic Senator Joe Manchin, a key swing vote, told Senate Majority Leader Chuck Schumer on Wednesday he will now support proposal for new climate change spending.