North American indexes erased their early losses Friday morning session, continuing the momentum of the day while there was publication of mixed indicators.
This is the state of affairs around 11:45:
In Toronto, the S & P / TSX Composite Index gaining 62 points or 0.43% to 14,549
In New York, the S & P 500 ahead by 10 points or 0.53% to 1961
The Dow added 94 points or 0.57% to 16,772
Nasdaq rises 19 points or 0.43% to 4471
The Canadian dollar continues to gain strength, through advance of 0.07% to 89.10 US cents.
Quebec Bourse continues to outperform its US counterparts since the beginning of the year, with a gain of over 12%. Among Quebec titles in action Friday MTY Group (Tor., MTY) won 1.5% or $0.45 to $30.54 after announcing the acquisition of these chains in Canada and the United States 7 , $9 million. Read our text on the acquisition.
The titles of essential consumption continue to attract the favor of investors. Metro (Tor., MRU), on its part, reached historic high of $77.80 after analyst Kenric S. Tyghe, Raymond James, had begun monitoring shares with a neutral recommendation and a target of $75. Alimentation Couche-Tard (Tor., ATD.B), in which Metro holds a key, also the highest in history of $37.60, with a gain of more than 2.45%.
Jean Coutu Group (Tor., PJC.A) also climbed to its highest in history, at $25.92, before losing some of its gains. It added $0.08 to $25.62.
The NYSE had found a strong momentum Thursday in favor of encouraging figures from several big names in the industry: the Dow Jones was awarded 1.32% to 16,677.90 points and the Nasdaq 1.60% to 4452 79 points.
After such an advanced “indexes were willing to catch their breath,” commented analysts at Wells Fargo.
But “while concerns about Ebola make headlines, investors focus primarily on corporate earnings,” they added.
The online retailer Amazon has been a source of great disappointment: it published a heavy quarterly loss and lower forecasts expressed expectations for the important holiday season. Share price lost more than 7%.
But the results of other large companies from various sectors, Microsoft in computers, UPS delivery, or Bristol-Myers Squibb in the pharmacy, have exceeded expectations.
This allowed overshadowing the fear of expansion of the Ebola outbreak in the United States fueled Thursday by announcing the hospitalization of a New York doctor recently returned from Guinea, who contracted virus after working with Doctors Without Borders (MSF) in contact with Ebola patients.
The bond market progressed. Sign of growing demand, the yield on 10-year Treasury retreated to 2.250% against 2.275% Thursday night, thirty-year high of 3.021% against 3.046% the day before.