The Canadian main stock index saw an increase on Thursday, with gains in mining and financial shares, though a decline in industrial and telecom shares limited some of the gains. Data from Statistics Canada showed a decrease in payroll employment numbers in June by 47,300 (-0.3%).
In U.S. markets, there was a mixed close as traders interpreted new weekly jobs and gross domestic product (GDP) data as indicating a decreased likelihood of a recession. Initial claims for state unemployment benefits fell by 2,000 to a seasonally adjusted 231,000, while GDP grew at a 3.0% annualized rate in Q2, higher than the 2.8% reported last month.
The Canadian dollar was trading at 74.16 cents U.S. compared to 74.21 cents U.S. on Wednesday. U.S. crude futures saw a $1.36 increase to $75.88 a barrel, while the Brent contract rose $1.35 to $80.00 a barrel. The price of gold decreased by US$13.50 to US$2,521.35.
In global markets, the Nikkei was down 9.23 points to 38,362.53, the Hang Seng was up 93.87 points to 17,786.32, the FTSE was up 35.80 points at 8,379.65, and the DAX was up 120.41 points to 18,902.70.
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