RTTNews - Toronto's main index continued to hang around the unchanged line Thursday afternoon, as weakness among industrials has nearly offset gains among base metals producers.
The S&P/TSX Composite Index is up 20.92 at 10,707.75, extending yesterday's very modest gain.
Across the border, US initial jobless claims rose to 576,000 from the previous week's revised figure of 561,000. The increase came as a surprise to economists, who had expected jobless claims to edge down to 550,000 from the 558,000 originally reported for the previous week.
Bombardier Aerospace, a unit of Bombardier Inc. (BBD-A.TO, BBD-B.TO), said that it has terminated its firm and conditional order purchase agreement with Jet Republic. The order for 110 Learjet 60 XR aircraft, consisting of 25 firm orders and 85 conditional orders, to Jet Republic was originally announced on June 20, 2008.
Bombardier stock is down 4 percent.
Among metals producers, Teck Cominco (TCK.B.TO) shares are up 2.5 percent.
Other gainers on Bay Street include Neo Material Technologies (NEM.TO) and Osisko Mining (OSK.TO), which received final authorization from the province of Quebec to build its 6.3-million-ounce Canadian Malartic gold mine.
Lululemon (LLL.TO) was raised to hold from underweight by analyst Edward Yruma of KeyBanc Capital Markets. Shares are up more than 2 percent.
Statistics Canada said Thursday that Canadian wholesale sales rose for the first time in nine months in June, mainly due to increases in the automotive products and food, beverages and tobacco products sectors. Sales in current dollars rose 0.6% to $40.4 billion.
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