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TSX Sprints in Light Trading

Nov 25, 2021 (Baystreet.ca via COMTEX) --

Canada's main stock index opened higher on Thursday, aided by gains in technology and energy shares, although trading volumes are likely to be low because of the U.S. Thanksgiving holiday.

The S&P/TSX Composite jumped 70.79 points at the outset, to 21,619.22.

The Canadian dollar retreated 0.12 cents at 78.97 cents U.S.

In the tech field, BlackBerry moved ahead six cents to $12.98, while Hut 8 Mining sprang up 60 cents, or 3.8%, to $$16.43.

In the oil patch, Suncor Energy took on 37 cents, or 1.1%, to $34.11, and Arc Resources acquired eight cents to $12.12.

The United States has decided to almost double the duties on Canadian softwood lumber from most producers to 17.9%, Trade Minister Mary Ng said on Wednesday, adding that Canada is "extremely disappointed."

Prime Minister Justin Trudeau said on Wednesday he is "extremely concerned" by increases in the cost of living caused by high inflation, adding that Liberal government policies should help address the issue.

On the economic calendar, Statistics Canada reported payroll employment, as measured by the Survey of Employment, Payrolls and Hours, rose by 91,100 (or 0.5%) in September.

ON BAYSTREET

The TSX Venture Exchange gained 1.61 points to 972.06.

All 12 TSX subgroups were in the green, with information technology leaping 0.8%, while energy and consumer discretionary stocks each gained 0.5%.

ON WALLSTREET

U.S. markets will be closed Thursday on Thanksgiving Day. The stock market closes early at 1 p.m. ET on Friday.

comtex tracking

COMTEX_397720218/2559/2021-11-25T10:12:19

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