Equities in Canada’s largest market rose on Wednesday as strong results from US cloud firm CoreWeave revived enthusiasm for the AI trade, while a rebound in oil prices helped lift energy stocks.
The TSX gained 241.27 points to wind up Wednesday at 36,411.27.
The Canadian dollar fell 0.32 cents to 70.17 cents U.S.
Barrick Mining filed for an initial public offering of its North American business in New York. In Toronto, Barrick shares dropped 69 cents, or 1.2%, to $55.72.
Canadian technology stocks climbed with Celestica hiking $26.21, or 8.2%, to $344.93, and BlackBerry advancing 66 cents, or 5.1%, to $13.62.
Specialty label and packaging firm CCL Industries rose $1.48, or 1.5%, to $101.38 after beating quarterly sales estimates
Boyd Group tumbled $15.27, or 12.2%, to $109.70, after ?the collision repair operator missed third-quarter adjusted profit estimates
Lithium Americas fell 30 cents, or 11.2%, to $2.34, after increasing the cost estimate for the first phase of its Thacker Pass lithium project in Nevada by 31% to $3.83 billion, citing higher labour, construction and logistics costs.
Eldorado Gold backpedaled $2.61, or 5.2%, to $47.81.
Energy stocks rumbled, led by Freehold Royalties, up 75 cents, or 4.6%, to $17.20, while Spartan Delta moved upward 50 cents, or 4.5%, to $11.69.
Minutes showed the Bank of Canada (BoC), which raised rates for the first time in more than three years last month, acknowledged considerable uncertainty over the inflationary impact of higher energy prices and the U.S. trade war, but agreed that uncertainty would not prevent further policy action if needed
Markets are pricing in a 48% chance of another rate hike by the BoC.
ON BAYSTREET
The TSX Venture Exchange slid 5.07 points to 817.02.
Eight of the 12 subgroups regained positive status, with information technology stretching 2.8%, while energy rumbled 2.1%, and financials richer by 1%.
The four laggards were weighed most by gold, 1.5% in minus column, while materials lost 1.1%, and telecoms dipped 0.4%.
ON WALLSTREET
Stocks were mostly higher Wednesday, boosted by sharp gains in CoreWeave and a rebound in Nvidia following back-to-back losing sessions for the chipmaker.
The Dow Jones Industrial index rocketed 254.60 points to 52,486.49.
The S&P 500 index grabbed 98.45 points, or 1.3%, to 7,6196.19.
The tech-heavy NASDAQ popped 400.31 points, or 1.6%, to 25,455.19.
Neocloud stock CoreWeave rallied 20% after reporting third-quarter revenue that beat analyst expectations. CoreWeave also lifted operating income and revenue guidance for 2026.
Nvidia, meanwhile, climbed more than 4% after dropping nearly 10% to start the week when CEO Jensen Huang confirmed he had an affair with an alleged Chinese spy.
The pullback in Nvidia weighed on the broader market Tuesday, with the major averages ending the session lower.
Artificial intelligence lab Anthropic on Tuesday said in an updated Securities and Exchange Commission filing that it will offer 825 million shares in an initial public offering planned for next week that could value the five-year-old company at as much as $1.4 trillion.
The U.S. bond market was closed on Wednesday for Veterans Day.
Oil prices beat breakeven 28 cents to $86.32 U.S. a barrel.
Gold prices dulled $37.80 to $3,992.40 U.S. an ounce.
Related Stories
