Canada Stocks Close Higher; US Data Fuels Gains; All Sectors Higher; MBAC Fertilizer Corp. Most Active
Canadian stocks closed higher on Thursday fueled by economic data released in the US today. All sectors were higher led by Energy and Healthcare.
Stocks opened higher on Thursday and continue to rally into the close. Better than expected jobless claims helped the markets initially but it was the weaker than expected Philly Fed survey that ignited sentiment. The weaker number somewhat removed the taper talk, allow yields to decline. The Philadelphia Fed manufacturing index slowed to a reading of 6.5 in November from 19.8 in October. Economists polled expected a reading of 14.5.
MBAC Fertilizer (MBC.TO) was the most active stock on the TSX with no fresh specific stock news driving volume. The stock closed down 2.6% with 7.8 million shares changing hands.