Tracking gains across global equities following a rebound in manufacturing activity in China, Canada’s main stock index moved higher on Wednesday. The TSX recouped its losses from the previous session. However, disappointing earnings from top banks continue to keep investors off big bets. Data showed that factory activity in China grew in February at the fastest pace in more than a decade. Health care, tech, and utilities also closed lower. The mining sector led the gainers, followed by energy and industrials.
US stock futures saw a split end to the first day of March, as traders tried to recover their footing following a losing month. Dour manufacturing data and Federal Reserve officials suggesting a more aggressive rate-hiking campaign in the coming months offered mixed results.
Today in the Markets
The Canadian dollar traded for 73.53 cents US, compared to 73.28 cents US on Tuesday.
US crude futures traded $0.67 higher at $77.72 a barrel, and the Brent contract gained $0.94 to $84.39 a barrel.
The price of gold was up 11.50 to US$1,837.18.
In world markets, the Nikkei was up 70.97 points to 27,516.53, the Hang Seng was up 833.77 points to 20,619.71, the FTSE was up 38.65 points to 7,914.93, but the DAX was down 60.12 points to 15,305.02.
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