TSX Carries Positive Momentum -- Canadian Commentary

(RTTNews) - Canadian stocks rose along with crude oil prices for a second session Thursday, trimming recent losses on renewed optimism and mixed corporate earnings.

The TSX Composite Index was up 79 points to 15,407.66.

Home Capital Q4 profit plunged 40%, but its CEO said the troubled lender has "turned the corner." The boss has been in the job six months. He says they are more picky about who they are lending to compared to last year.

"We have demonstrated progress towards growing our residential and commercial business lines to more normal and sustainable levels and our employees delivered improved service," CEO Yousry Bissada said.

Shares slipped 6 percent.

Plane and train maker Bombardier Inc. (BBD_B.TO, BBD_A.TO) reported that its net loss for the fourth quarter narrowed. Cash flow rose sharply. Shares were up 11 percent.

Brookfield Asset Management Inc. (BAM, BAM-A.TO) said that its board of directors declared a quarterly dividend of $0.15 per share, representing $0.60 per annum. The company is selling some assets.

Canadian Tire Corp. (CTC.TO) reported a profit for its fourth quarter climbed to C$295.4 million, or C$4.10 per share. This was up from C$265.1 million, or C$3.46 per share, in last year's fourth quarter. Shares jumped 6.5 percet.

Goldcorp Inc. (G.TO) earnings rose to $242 million, or $0.28 per share. This was higher than $101 million, or $0.12 per share, in last year's fourth quarter.

Sun Life Financial Inc. (SLF.TO) profit came in at C$641 million, or C$1.05 per share. This was up from C$560 million, or C$0.91 per share, in last year's fourth quarter. They are adding medical marijuana to plans.