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Stocks Push Higher



Equities in Canada’s largest centre continued their win streak Wednesday, as tech strength overcame diffidence in other resources.

The TSX climbed 66.01 points to conclude Wednesday at 24,989.02, a new all-time high.

The Canadian dollar lost 0.28 cents to 71.43 cents U.S.

Suncor Energy raised its quarterly dividend after the integrated oil and gas firm beat estimates for third-quarter profit on higher oil production and demand for refined products. Suncor took on $2.24, or 4.2%, to $55.40.

Canada’s technology sector rose after it hit a record high in the previous session following Shopify’s strong quarterly results. Shopify closed Wednesday ahead $8.94, or 5.9%, to $161.20.

Among individual stocks, Loblaw Companies’ shares fell $4.51, or 2.4%, to $182.88, after the retailer missed third-quarter revenue estimates, hurt by a slowdown in demand.

Finning International dropped $3.80, or 9.1%, to $37.92, after the Caterpillar dealer also missed its third-quarter revenue estimates.

Elsewhere, First Quantum Minerals sank 94 cents, or 5%, to $17.94, while Orla Mining let go of 68 cents, or 9.8%, to $5.55.

In the gold sector, Aya Gold sank 57 cents, or 3.7%, to $14.75, while Seabridge Gold dived 60 cents, or 2.9%, to $19.91.

Consumer staples stubbed their toes, as Maple Leaf Foods gave up $1.20, or 5.3%, to $21.30, while George Weston shares forfeited $6.90, or 3%, to $226.66.

Tech shares more than picked up the slack, though, with Coveo Solutions adding 23 cents, or 3.3%, to $7.30.

In energy, Nuvista Energy gained 19 cents, or 1.6%, to $12.46.

Industrials shone, with CAE picking up $3.22, or 11.9%, to $30.18, while Boyd Group Services soared $5.10, or 2.3%, to $224.55.

ON BAYSTREET

The TSX Venture Exchange leaned lower 3.98 points to 593.72.

Still, seven of the 12 subgroups were in the red. Materials stepped back 1.2%, while gold faded 0.9%, and consumer staples lost 0.8%.

The five gainers were led by information technology, ahead 2.3%, energy, rumbling 0.8%, and industrials, better by 0.2%.

ON WALLSTREET

The major averages hovered near the flatline on Wednesday as the post-election rally lost some steam and traders contemplated a key inflation report that was in line with expectations.

The Dow Jones Industrials gained 47.21 points to 43,958.19.

The S&P 500 squeezed higher 1.4 points to 5,995.39.

The NASDAQ Composite slid 50.66 points to 19,230.74.

Tesla, which has been among the biggest winners following the election, was up again by 3%.

The October consumer price index accelerated a tad to a 2.6% annual rate, matching the consensus estimate from economists polled by Dow Jones. Core prices, which exclude food and energy from the reading, rose 3.3% last month, which also matched estimates.

Prices for the 10-year Treasury staggered, raising yields to 4.45% from Tuesday’s 4.43%. Treasury prices and yields move in opposite directions.

Oil prices docked 18 cents to $67.74 U.S. a barrel.

Prices for gold dipped $25.90 an ounce to $2,580.40 U.S.



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