(CLARIFIES BLACKBERRY PRICE AT NOON EDT)
Canada's resources-heavy stock index slumped by noon EDT on Thursday, as investors also assessed a fragile U.S.-Iran ceasefire.
The TSX Composite Index slid 75.58 points to 33,544.99
The Canadian dollar pulled ahead 0.24 cents at 72.43 cents U.S.
The two-week ceasefire between the United States and Iran remained uncertain, with disagreement over whether Lebanon is covered by the deal, as Israel bombed more targets in Lebanon on Thursday.
Delegates from both the U.S. and Iran are scheduled to meet in Islamabad on Friday for peace talks brokered by Pakistan.
Tech stocks fell with e-commerce firm Shopify down $7.67, or 4.6%, to $158.60. BlackBerry improved 54 cents, or 11%, to $5.43, after forecasting first-quarter revenue above estimates on strong demand across its cybersecurity and embedded software divisions.
ON BAYSTREET
The TSX Venture Exchange advanced 12.51 points, or 1.35, to 995.09.
Seven of the 12 TSX subgroups were higher at noon, financials surging 0.7%, industrials up 0.5%, and utilities up 0.4%.
The five laggards were weighed most by telecoms, sinking 2.6%, while consumer staples ditched 1.9%, while information technology waned 1.6%.
ON WALLSTREET
Stocks moved into positive territory on Thursday, even as oil prices gained, amid continued optimism among traders that the fragile two-week ceasefire agreement between the U.S. and Iran could be sustained.
The Dow Jones Industrials popped 269.03 points to 48,178.95.
The broader index recovered 40.63 points to 6,823.44.
The NASDAQ hiked 171.64 points to 22,796.63.
The broader index traded into the green and oil prices came off their highs of the day after Israeli Prime Minister Benjamin Netanyahu said that the country has agreed to open direct negotiations with Lebanon.
The S&P was supported by a more than 3% move higher in shares of Meta Platforms on the heels of the company debuting its new artificial intelligence model. Defensive areas of the market rose as well, as shares of Walmart increased along with utilities names such as Constellation Energy
U.S. military forces will remain deployed in and around Iran until Tehran fully complies with the “real agreement,” Trump said Wednesday, warning that any breach would trigger a military response larger than anything seen before.
Meanwhile, overall traffic through the strait has still not improved since the ceasefire deal was announced, as only some bulk carriers — which carry dry cargo rather than oil — have traversed the key waterway.
Prices for the 10-year Treasury hiked, weighing yields to 4.27% from Wednesday’s 4.30%. Treasury prices and yields move in opposite directions.
Oil prices shot higher $3.17 to $97.58 U.S. a barrel.
Gold prices acquired $40.20 to $4,817.40 U.S. an ounce.
