(Updated at 10:04 a.m. ET/ 15:04 GMT)
By Nikhil Sharma
Nov 21 (Reuters) - Canada's main stock index notched a
record high on Thursday amid gains led by energy shares, while
investors assessed AI bellwether Nvidia's ( NVDA ) upbeat quarterly
results that dictated overall market sentiment.
The S&P/TSX composite index was up 132.02 points,
or 0.53%, at 25,168.48.
Meanwhile, Wall Street's benchmark indexes were mixed in
choppy trading.
Nvidia ( NVDA ) on Wednesday beat expectations for third-quarter
results and forecast better-than-expected fourth-quarter
revenue.
However, Nvidia ( NVDA ) stock briefly fell premarket as the
chipmaker projected the slowest revenue growth in seven
quarters, disappointing some investors.
"I think investors are just looking for excuses to keep up
their enthusiasm for the market," said Michael Sprung, president
at Sprung Investment Management, adding stretched valuations do
not "seem to be bothering investors too much at the moment."
The TSX energy sector gained 1.4% on Thursday as
oil prices climbed after Russia and Ukraine launched missiles at
each other, fueling concerns of supply disruption from the
region.
Geopolitical uncertainties have left investors unsettled
after Russia fired what appeared to be an intercontinental
ballistic missile in retaliation against Ukraine firing U.S. and
British missiles earlier this week.
The technology sector advanced 1.1%, boosted by a
4% jump in electronics firm Celestica's ( CLS ) shares.
In contrast, the capped communications sector was
the biggest drag, down 0.9%.
Investors also parsed economic data including U.S. weekly
jobless claims that unexpectedly fell last week, suggesting job
growth likely rebounded in November after abruptly slowing last
month amid hurricanes and strikes.
Canada's producer prices rose 1.2% in October from September
on higher prices for primary non-ferrous metal products.
On the corporate front, Manulife Financial ( MFC ) said it
will reinsure C$5.4 billion ($3.86 billion) of its reserves as
it looks to transfer some risk from its portfolio and free up
capital for stock buybacks. Its shares rose 1.4%.