TORONTO — Canada’s main stock index edged higher on Thursday, helped by strength in the financial sector, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 14.84 points at 25,854.01.
TD Bank’s share price moved higher along with most major Canadian bank stocks on Thursday, said Allan Small, senior investment adviser at iA Private Wealth.
The Toronto-based bank delivered a “refreshing” report of its second-quarter earnings, he said, despite announcing a two per cent workforce reduction. The bank’s profit of $11.1 billion or $6.27 per diluted share was up from a profit of $2.6 billion or $1.35 per diluted share a year earlier.
TD shares closed at $92.81 for the day on the Toronto Stock Exchange, up 3.2 per cent.
“They beat on the top and bottom line, really all facets of their business went higher from net interest margins to setting aside less money for bad debt,” said Small.
“Trading…
