Toronto stock market jumps 137 points amid solid BCE earnings, jobs data
Malcolm Morrison, The Canadian Press
Published Thursday, February 6, 2014 4:12AM EST
Last Updated Thursday, February 6, 2014 4:23PM EST
TORONTO -- The Toronto stock market closed higher amid a well-received earnings report from telecom giant BCE Inc. and U.S. data that raised hopes for a strong employment report.
The S&P/TSX composite index ran ahead 153.71 points to 13,713.4, as BCE beat earnings estimates, upped its dividend and posted a positive outlook, sending its shares two per cent higher.
The Canadian dollar was ahead 0.08 of a cent to 90.33 cents US.
The Dow Jones industrials jumped 188.3 points to 15,628.53 as jobless insurance claims, viewed as a proxy for layoffs, fell by a greater than expected 20,000 to 331,000 last week.
The data came out a day before the release of the U.S. government's employment report for January. Economists expect that 183,000 jobs were created following a meagre 74,000 gain in December that was largely blamed on the weather.
The Nasdaq gained 45.57 points to 4,057.12 and the S&P 500 index added 21.79 points to 1,773.43.