Canada’s main stock index opened higher on Wednesday as commodity prices gained, while investors took in the interest rate decision from the country’s central bank amid expectations of another jumbo increase.

The TSX Composite gathered 69.91 points to open Wednesday at 19,166.62.

The Canadian dollar captured 0.19 cents to 73.63 cents U.S.

In company news, FirstService Corp reported third-quarter results before markets open.

FSV shares dropped $1.15 to $173.23.

The federal government on Tuesday imposed conditions on Rogers Communications’ proposed remedy to overcome competition bureau concerns about Rogers’ planned $20-billion purchase of rival Shaw Communications

Shares in Rogers began the day up $2.43, or 4.5%, to $56.06, while those for Shaw skyrocketed $3.03, or 8.9%, to $37.09.

The Bank of Canada confounded some of the experts by raising its trendsetting rate by less than had been projected. The central bank increased its target for the overnight rate to 3.75%, with the Bank Rate at 4% and the deposit rate at 3.75%. Some had suggested the jump would be as much as three-quarters of a percentage point.

The Bank is also continuing its policy of quantitative tightening.


The TSX Venture Exchange nosed up 1.95 points to 597.89.

Eight of the 12 TSX subgroups gained ground, as communications picked up 2.9%, health-care stocks improved 2.6%, and gold shone brighter 1.6%.

The four laggards were weighed most by utilities, financials and information technology, each down 0.2%.


Stocks slid Wednesday after a disappointing first round of technology earnings made investors more cautious looking toward the second half of the week.

The Dow Jones Industrials gained 136.81 points to 31,973.55.

The S&P 500 shed 9.69 points to 3,849.42.

The NASDAQ dropped 139.6 points, or 1.3%, to 11,059.52.

Shares of Google-parent Alphabet dropped 8.5% after the tech giant missed expectations on the top and bottom lines. Alphabet also reported a decline in YouTube ad revenue, which spurred investors to deliberate the outlook for other tech companies that rely on ad spending.

Meanwhile, Microsoft declined about 7.6% after the tech giant reported weaker-than-expected cloud revenue in its latest quarterly results, despite beating earnings and revenue estimates. The company also issued current-quarter revenue guidance that fell short of expectations.

In other earnings news, Harley-Davidson shares rose 6.7% after the motorcycle maker reported beating expectations before the bell. Meta was among the companies also set to report.

Traders are also watching for the latest economic data on new home sales.

Treasury prices gained, lowering yields to 4.03% from Tuesday’s 4.09%. Treasury prices and yields move in opposite directions.

Oil prices heightened $1.28 to $86.60 U.S. a barrel.

Gold prices acquired $13.60 to $1,671.60 U.S. an ounce.

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