(RTTNews.com) - Canadian stocks were little changed Thursday morning amid firm commodities after Spain and Italy kicked off this year's debt issuance with successful auctions, raising nearly EUR 22 billion, indicating some improvement in investor sentiment.
However, today's data from south of the border that revealed a slower growth in retail sales and a jump in first time claims for unemployment weighed on trader sentiment.
The S&P/TSX Composite Index eased 13.35 points or 0.11 percent to 12,247.59, a day after snapping its two-session winning streak.
The Diversified Materials Index rose nearly 1 percent, with First Quantum Minerals (FM.TO), Teck Resources (TCK_B.TO) and Inmet Mining (IMN.TO) were up around 1 percent each.
The price of crude oil moved up Thursday morning on supply worries as tension between the West and Iran over Iran's nuclear program escalated after an Iranian nuclear scientist was blown up. Crude for February gained $1.28 to $102.15 a barrel.
In the oil patch, Pacific Rubiales Energy (PRE.TO) moved up over 2 percent.
The price of gold moved higher as auctions by Spain and Italy produced good responses, helping euro to pare losses. Gold for February moved up $14.10 to $1,653.70 an ounce.
Detour Gold (DGC.TO) was up over 3 percent. Royal Gold (RGL.TO) and Goldcorp. (G.TO) added over 1 percent each.
Gold miner Yamana Gold (YRI.TO) surged over 4 percent after reporting a 5 percent increase in its 2001 total production at 1.10 million gold equivalent ounces. For nest year, the company guides production to be in the range of 1.2 million to 1.3 million gold equivalent ounces, an increase of 13 percent from the 2011 levels.
Industrial valves maker Velan Inc. (VLN.TO) rose nearly 3 percent despite reporting a lower third quarter net income to $4 million or $0.18 per share compared to $12 million or $0.54 per share last year. The company declared quarterly dividend of C$0.08 per share.
Book retailer Indigo Books & Music (IDG.TO) moved up 1.20 percent after announcing that it divested all outstanding shares of Kobo Inc. to Rakuten Inc. for about $146 million.
Exchange Income Corp. (EIF.TO) gathered 1 percent after it said it would buy the operations and assets of privately-owned Custom Helicopters Ltd for about C$29 million, in a cash and stocks deal.
Technology company Sandvine Corp. (SVC.TO) slipped in to the red in fourth quarter, reporting net loss of $3.6 million or $0.026 per share compared to a profit of $0.6 million or $0.004 per share a year ago, The stock was up 4 percent.
Meanwhile, fertilizer makers Potash Corp. (POT.TO) and Agrium Inc. (AGU.TO) surrendered around 3 percent each.
Shaw Communications (SJR_B.TO) lost 2 percent after its quarterly earnings missed estimates. The communications company reported a much improved first quarter net income of C$192 million or C$0.43 per share compared to C$12 million or C$0.03 per share in the prior-year. Analysts were expecting the company to report earnings of C$0.47 per share.
Metals mining company Orosur Mining (OMI.V) shed 4 percent after reporting a marginal dip in its second quarter profit at $2.57 million or $0.03 per share, compared to $2.78 million or $0.04 per share a year ago
In economic news, Statistics Canada said its New Housing Price Index (NHPI) rose 0.3 percent in November, following a 0.2 percent increase in October. New home prices climbed in November on the strength of strong demand in Toronto and Montreal. Year over year, the NHPI was up 2.5 percent in November. The main contributor to this advance was the Toronto metroplex.
From south of the border, the U.S. Labor Department said initial jobless claims rose to 399,000 from the previous week's revised figure of 375,000. Economists had expected jobless claims to edge up to 375,000 from the 372,000 originally reported for the previous week.
Meanwhile, the U.S. Commerce Department said retail sales edged up 0.1 percent to a seasonally adjusted level of $400.6 billion in November. Excluding automotive sales, retail sales actually shrank in December, falling 0.2 percent, with electronics and appliance stores and gasoline stations recording some of the larger drops.
Elsewhere, the European Central Bank left its interest rates unchanged at 1 percent on Thursday, after lowering it in the previous two months.
The Bank of England decided to leave the size of quantitative easing unchanged at GBP 275 billion and the interest rate again at a historic low, as expected.
