Nov 6 (Reuters) - Canada's main stock index remained
largely unchanged on Thursday, as higher commodity prices offset
broader market caution and disappointing earnings after the
benchmark's strongest session in three weeks.
At 9:57 a.m. ET, Toronto's S&P/TSX composite index
was down 0.1% at 30,075.80, after closing 1.1% higher on
Wednesday, marking its biggest single-day gain since October 14.
The rally was underpinned by upbeat U.S. economic data, with
services sector activity rising to an eight-month high in
October and private payrolls beating expectations.
The data helped ease investor concerns after top Wall Street
banks warned of stretched valuations, dragging the TSX to a
one-month low on Tuesday.
"I don't think there's much direction. It's a bit of a pause
and it's tough to say where the next catalyst is going to come
from. We don't know what's going to take this market higher,"
said Allan Small, senior investment advisor at Allan Small
Financial Group with iA Private Wealth.
Miners was up 2%, outperforming peers, as copper
prices rebounded after a four-day decline, with selling pressure
easing.
Gold went above the $4,000-per-ounce level due to concerns
over a prolonged U.S. government shutdown, while oil prices also
edged higher.
On the tariff front, U.S. Supreme Court justices raised
doubts over the legality of U.S. President Donald Trump's
sweeping tariffs in a case that could have implications for
markets across the globe.
Among other corporate news, Bombardier shares fell
1.6% despite topping Wall Street's third-quarter revenue
forecasts, while Canada Goose slumped 14% on a revenue
miss. TC Energy ( TRP ) edged down 0.6% after disappointing
profit.
TransAlta ( TAC ) fell 16% to the bottom of the S&P/TSX
composite index after the power generation firm reported a
decreased revenue in the third quarter.
Meanwhile, Equinox Gold ( EQX ) jumped 15.9% to the top of
the index after BMO raised the target price on the stock to C$20
from C$18.