TSX Ends Higher

(RTTNews) - Despite somewhat negative global cues, the Canadian stock market ended on a firm note on Thursday, riding on higher crude oil prices and some upbeat corporate earnings reports.

Optimism about U.S.-China trade talks aided sentiment, but data showing an unexpected drop in U.S. retail sales in December raised concerns about global growth and forced investors to tread cautiously.

The benchmark S&P/TSX Composite Index ended up 69.25 points, or 0.44%, at 15,695.98, after scaling a low of 15,608.15 and a high of 15,733.13 intraday.

In economic news, data released by Statistics Canada said manufacturing sales in Canada declined 1.3% to 56.4 million in December, falling for a third successive month, due to lower sales of petroleum and coal products.

Meanwhile, new housing prices remained unchanged for the fifth consecutive month in December.

Back to stocks, information technology shares were among the most impressive gainers. Industrials and energy shares also had a good session. Consumer staples materials and healthcare stocks turned in a mixed performance. Consumer discretionary stocks closed weak.

Bombardier Inc. (BBD.B.TO) soared more than 23% after the company reported adjusted net income of $149 million for the fourth quarter ended December 2018, as against net loss of $28 million in the year-ago quarter.

Precision Drilling Corporation (PD.TO) ended nearly 15% up. The company reported fourth-quarter net loss of C$198.33 million or C$0.68 per share, as compared to net loss of C$47.01 million or C$0.16 per share in the prior-year quarter.

Manulife Financial Corporation (MFC.TO) gained 2.25% on strong results.

Encana Corporation (ECA.TO), Birchcliff Energy (BIR.TO), BayTex Energy Corp. (BTE.TO) and Crescent Point Energy (CPG.TO) gained 1 to 4%.

Green Organic Dutchman Holdings (TGOD.TO) and Sun Life Financial Inc. (SLF.TO) also closed with strong gains.

U.S. stocks were under pressure on weak retail sales and jobless claims data. Despite coming off the day's lows, the market ended on a negative note today.

European markets failed to hold early gains and settled lower as investors stayed wary of making significant moves due to weak economic data from eurozone and the U.S. Earlier, Asian markets ended mixed.

In commodities, crude oil futures for March ended up $0.51, or about 1%, at $54.41 a barrel.

Gold futures for April ended down $1.20, or about 0.1%, at $1,313.90 an ounce, after rising to a high of $1,317.35 earlier.

Silver futures for March settled at $15.575 an ounce, losing $0.124 for the session.

Copper futures for March ended up $0.0010, at $2.7740 per pound.