The utilities and mining sectors led gainers for Canada’s main stock index on Wednesday straight to a positive close. Discount store chain Dollarama closed up more than 2 per cent after posting a positive quarterly revenue update. Traders were still assessing Finance Minister Chrystia Freeland’s budget presentation to parliament that was aimed at attracting investment in the low-carbon economy and included a “grocery rebate” for 11 million low-income earners. The telecom sector was the lone decliner.
US stocks also rose as investors looked to recover from a down session, betting the worst is of the banking crisis is over. A new report found pending home sales gained 0.8 per cent last month, with sales 21.1 per cent lower than a year earlier.
Today in the Markets
The Canadian dollar traded for 73.71 cents US, compared to 73.56 cents US on Tuesday.
US crude futures traded $0.32 lower at $72.88 a barrel, and the Brent contract lost $0.40 to $78.25 a barrel.
The price of gold was down US$9.05 to US$1,962.92.
In world markets, the Nikkei was up 365.53 points to 27,883.78, the Hang Seng was up 407.75 points to 20,192.40, the FTSE was up 80.02 points to 7,564.27, and the DAX was up 186.76 points to 15,328.78.
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