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TSX on the Rise by Noon



Canada’s main stock index edged marginally higher on Thursday, propelled by materials stocks tracking higher prices of metals, while miner Lithium Americas tumbled to the bottom of the index after a deep-discounted equity offering.

The TSX Composite gained 127.19 points to move into Thursday afternoon at 21,685.36.

The Canadian dollar eked up 0.1 cents at 72.71 cents U.S.

Silvercrest Metals climbed 57 cents, or 5.8%, to $10.38, and First Quantum climbed with a gain of $1.02, or 6.9%, to $15.80, tracking surging prices of gold and copper.

Shares of Lithium Americas sank $2.53, or 27.6%, to $6.63, after the lithium miner sold 55 million shares at a deep discount to raise $275 million.

ON BAYSTREET

The TSX Venture Exchange dropped 0.07 points to 571.77.

All 12 TSX subgroups in the green by noon EDT, led by materials, up 1.4%, utilities, mightier by 0.8%, and gold, brighter 0.7%.

ON WALLSTREET

The S&P 500 advanced on Thursday as Wall Street attempted to recover its footing amid a losing streak for the benchmark index. Investors also continued parsing the latest corporate earnings reports.

The Dow Jones Industrials maintained their upward progress, taking on 236.02 points to 37,989.33, boosted by a rally of more than 3% in UnitedHealth

The much-broader index gained 23.26 points to 5,045.60.

The NASDAQ regrouped 63.94 points to 15,747.32.

Credit bureau Equifax declined more than 9% in Thursday’s session on disappointing second-quarter guidance. Homebuilder D.R. Horton advanced more than 4% after quarter financials topped expectations.

The S&P 500 and NASDAQ flirted with their fifth straight down session, briefly trading lower on the day. That would mark the longest losing streaks for each since October and January, respectively.

The moves come during what has been a difficult second quarter on Wall Street. That’s been driven by growing concerns around the path of inflation and monetary policy from the Federal Reserve.

Prices for the 10-year Treasury fell, raising yields to 4.64% from Wednesday’s 4.58%. Treasury prices and yields move in opposite directions.

Oil prices gave up 17 cents to $82.82 U.S. a barrel.

Gold prices gained $8.90, to $2,397.30 U.S. an ounce.



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