TORONTO - The Toronto stock market advanced Thursday as further confirmation the U.S. economy continues its slow but steady revival pushed commodity prices higher.
The S&P/TSX composite index gained 77.61 points to 12,455.5 and the TSX Venture Exchange added 4.99 points to 1,599.33.
The Canadian dollar was off 0.03 of a cent to 100.67 cents US.
Trading in shares of Viterra Inc. (TSX:VT), Canada's largest publicly-traded grain handler, have been halted pending an announcement. The company said last week that it has had several expressions of interest from potential buyers of the big prairie grain handler.
U.S. markets also advanced amid data showing that fewer people sought unemployment benefits last week, adding to signs that the job market is strengthening.
The Labour Department says weekly unemployment benefit applications dropped 14,000 to a seasonally adjusted 351,000. That matches a four-year low reached last month. The four-week average, which smooths fluctuations, was unchanged at 355,750.
Also, the Empire State manufacturing index ran ahead to a 21-month high of 20.2 in March, from 19.5.
The details of the survey of manufacturing in New York weren't quite as encouraging, however, with the new orders and shipments indices both dropping back.
However, there was a rise in the employment index and a marked improvement in the average workweek index.
Also, the manufacturing survey from the Philadelphia branch of the U.S. Federal Reserve rose to a higher than expected 12.5 in March, from 10.2.
"However, like the Empire, the detail of the Philly Fed showed a deterioration in the new orders and shipments balances, to suggest some modest deceleration may be seen over the next few months," said CIBC World Markets senior economist Andrew Grantham.
The Dow Jones industrials were ahead 9.58 points to 13,203.68.
