Canadian stocks ended higher Thursday, amid some mixed macroeconomic data from the U.S. and Europe, although gains were capped mostly by some disappointing numbers from across the border.
A U.S. Labor Department report on Thursday showed consumer price inflation in the country to have dropped more than expected in April, due mainly to a substantial decline in energy prices.
On the negative side, first-time claims for U.S. unemployment benefits rose more than anticipated in the week ended May 11, following a recent downward trend. Meanwhile, a Commerce Department report showed U.S. housing starts dropped much more than anticipated in April, although building permits increased substantially.
Manufacturing firms responding to the Federal Reserve Bank of Philadelphia's monthly Business Outlook Survey indicated an unexpected contraction in regional manufacturing activity in May.
Earlier today, data from Eurostat revealed eurozone trade surplus to have more than doubled in March from a month ago, while inflation slowed as initially estimated to 1.2 percent in April from 1.7 percent in March.
The S&P/TSX Composite Index closed Thursday at 12,507.60, up 33.95 points or 0.27 percent. The index touched an intraday high of 12,562.98 and a low of 12,463.40.
The Global Gold Index gained 0.33 percent, with gold futures for June delivery shedding $9.30 or 0.7 percent to close at $1,386.90 an ounce Thursday on the Nymex.
The Capped Materials Index moved up 0.48 percent, with Potash Corporation of Saskatchewan Inc.(POT.TO) adding 1.25 percent.
Among gold stocks, Yamana Gold Inc. (YRI.TO) edged up 0.18 percent, while Goldcorp Inc. (G.TO) shed 1.23 percent. IAMGOLD Corp. (IMG.TO) slipped 1.56 percent, while Kinross Gold Corporation (K.TO) added 3.17 percent. Eldorado Gold Corp. (ELD.TO) moved up 1.86 percent, while Barrick Gold Corp. (ABX.TO) dropped 0.66 percent.
The Diversified Metals & Mining Index declined 0.20 percent, with First Quantum Minerals Ltd. (FM.TO) ending flat at $18.85, Lundin Mining Corp. (LUN.TO) up 0.98 percent, Teck Resources (TCK.B.TO) down 1.00 percent, and Osisko Mining Corp. (OSK.TO) up 3.52 percent.
The Energy Index gained 0.21 percent, with U.S. crude oil futures for June delivery gaining $0.86 or 0.9 percent to close at $95.16 a barrel Thursday on the Nymex.
Among energy stocks, Suncor Energy Inc. (SU.TO) slipped 0.40 percent, while Canadian Natural Resources Limited (CNQ.TO) shed 0.23 percent. Canadian Oil Sands Limited (COS.TO) edged up 0.30 percent, while Surge Energy Inc. (SGY.TO) gained 8.17 percent.
The Financial Index added 0.31 percent, with Manulife Financial Corp. (MFC.TO) up 1.14 percent and Bank of Montreal (BMO.TO) edging up 0.03 percent. TD Bank Group (TD.TO) gained 0.22 percent, while Royal Bank of Canada (RY.TO) added 0.15 percent. Bank of Nova Scotia (BNS.TO) gained 0.29 percent.
The Information Technology Index shed 0.48 percent, with BlackBerry (BB.TO) down 1.64 percent.
The Capped Industrials Index gained 1.21 percent, with Bombardier Inc. (BBD.A.TO, BBD.B.TO) adding 2.42 percent and Air Canada (AC.B.TO) gaining 0.93 percent.
Energy infrastructure company TransCanada Corp. (TRP.TO) edged up 0.40 percent after announcing the divestiture of its 45 percent stake in each of Gas Transmission Northwest LLC and Bison Pipeline LLC to TC PipeLines, LP, a U.S.-based Master Limited Partnership, for about $1.05 billion.
Aviation-training and simulation products provider CAE Inc. (CAE.TO) jumped 6.23 percent after revealing adjusted net income of C$53.9 million or C$0.21 per share. Analysts expected the company to report earnings of C$0.18 per share for the quarter.
Diversified management and holding company Power Corp. of Canada (POW.TO) gained 1.00 percent after reporting a lower first-quarter profit of $225 million or $0.49 per share compared to $260 million or $0.57 per share in the same period last year. Operating earnings improved to $247 million or $0.54 per share from $205 million or $0.45 per share last year. Analysts expected the company to earn $0.51 per share for the quarter.
Telecommunication company TELUS Corp. (T.TO) added 1.06 percent after stating it would acquire Mobilicity, a provider of wireless telecommunication services, for $380 million.
Asset management company Dundee Corp. (DC_A.TO) shed 1.40 percent after slipping into the red in first-quarter, reporting net loss of $10.2 million or $0.23 per share compared to a profit of $32.5 million or $0.53 per share in the same period last year.
In economic news, Statistics Canada said non-resident investors acquired $1.2 billion of Canadian securities in March, led by investment in government bonds. Canadian investors added $3.8 billion of foreign securities to their holdings, following a $4.3 billion acquisition in February.
In economic news from the U.S., a Labor Department report said initial jobless claims rose to 360,000, an increase of 32,000 from the previous week's revised figure of 328,000. Economists had expected claims to climb to 330,000 from the 323,000 originally reported for the previous week.
Separately, the U.S. Labor Department said its consumer price index fell by 0.4 percent in April following a 0.2 percent drop in March. Economists expected prices to decrease by about 0.3 percent. Excluding food and energy prices, the core consumer price index edged up by 0.1 percent in April, matching the increase seen in the previous month. Core prices had been expected to rise by 0.2 percent.
Meanwhile, the U.S. Commerce Department said housing starts tumbled 16.5 percent to a seasonally adjusted annual rate of 853,000 in April from the revised March estimate of 1.021 million. Economists expected housing starts to drop to an annual rate of 969,000 from the 1.036 million originally reported for the previous month. The report also showed building permits to have jumped 14.3 percent to an annual rate of 1.017 million in April from the revised March rate of 890,000.
The Philly Fed report on Thursday showed its diffusion index of current activity to have dropped to a negative 5.2 in May from a positive 1.3 in April, with a negative reading indicating a contraction in regional manufacturing activity. Economists expected the index to climb to a positive reading of 2.2.
Elsewhere, eurozone inflation slowed as initially estimated to 1.2 percent in April from 1.7 percent in March, final data from Eurostat showed. Month-on-month, prices were down 0.1 percent. Core inflation that excludes energy, food, alcohol and tobacco, dropped to 1 percent from 1.5 percent a month ago.
Separately, the Eurostat said eurozone trade surplus more than doubled in March from a month ago. The surplus amounted to EUR 22.9 billion in March, higher than EUR 10.1 billion in February. In March 2012, the balance was positive at EUR 6.9 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.