The TSX composite rose 49.50 points to 13,949.99 in mid-morning trading on Thursday. The Dow was up 31.25 to 15,995.19, while NASDAQ gained 17.82 to 4,219.11.
Teck Resources Ltd.
, Stock Forum
) blames lower prices for a lower adjusted fourth-quarter profit of $227 million, or 40 cents a share. That's down substantially from $409 million, or 70 cents a share, in the fourth quarter of 2012.
. (TSX: T.T
, Stock Forum
) had double-digit improvements in its fourth quarter profit, as its wireless division produced slightly higher revenue per user on a larger subscriber base. The Vancouver-based telecom company's wireless division brought in an average of $61.86 per user, up 1.5% from a year earlier.
, Stock Forum
) reports it had US$129 million of adjusted net income, or seven cents per share, in the fourth quarter – down from $181 million for a year earlier and four cents below estimates.
The Montreal-based aerospace and rail equipment manufacturer says its revenue was up year-over-year, rising to US$5.3 billion for the three months ended Dec. 31, up from $4.6 billion a year earlier.
Statistics Canada says its new housing price index rose 0.1% in December, after no change in November. The agency says the combined metropolitan region of Toronto and Oshawa was the top contributor to the December advance, with prices up 0.2% after four consecutive months of little or no change.
The Canadian dollar declined Thursday morning amid lower commodity prices and a reading on American retail sales that fell short of expectations. The loonie dipped 0.03 of a cent to 90.9 cents US.
Cold weather caused U.S. retail sales to drop in January. Americans spent less on autos and clothing and at restaurants during a brutally cold month. The Commerce Department says retail sales fell 0.4% last month. That marked the second straight decline after a 0.1% drop in December.
Earlier this week as comments by the Fed’s Janet Yellen fueled optimism the economy can weather further stimulus cuts. Yellen, delivering her first public remarks as Fed chair, said economic growth has strengthened and there is “broad improvement” in the labor market.
Yellen repeated the Fed’s outlook for further stimulus reductions in “measured steps,” adding that only a “notable change in the outlook” for the economy would prompt policy makers to slow the pace.
Oil fell back below US$100 a barrel Thursday as investors worried upcoming data would show weakness in the U.S. economy.
Benchmark U.S. crude for March delivery declined 88 cents to $99.49 a barrel by 4:45 a.m. ET in electronic trading on the New York Mercantile Exchange. It rose as high as $101.38 the previous day on signs of strong Chinese demand.
The price of gold gained US$6.29 to US$1,297.38 an ounce, while silver was up US$0.09 to US$20.34 an ounce.