The Toronto stock market was slightly higher Thursday thanks to advancing mining stocks.
Elsewhere, buying was cautious despite some positive U.S. jobs data that came a day before the release of the government's unemployment report.
The S&P/TSX composite index was 32.7 points higher to 11,103.8.
The Canadian dollar was down 0.09 of a cent to 93.91 cents US.
Investors were relieved by a U.S. Labor Department report that the number of newly laid-off workers filing claims for unemployment benefits last week fell to the lowest level in 10 months. Claims came in at 512,000, much better than economists' estimates of 523,000.
Still, companies are reluctant to hire and economists expect the U.S. unemployment rate will tick up to 9.9 per cent when October's figure is reported Friday. It is also expected that another 175,000 Americans lost their jobs during October.
Canadian jobs data also comes out Friday and economists believe the economy added 10,000 jobs last month but the jobless rate is expected to come in unchanged at 8.4 per cent.
The base metals sector advanced 0.9 per cent even as December copper eased three cents to $2.96 a pound. HudBay Minerals (TSX: HBM) gained 40 cents to $16.25.
The tech sector was ahead 0.62 per cent with Research In Motion Ltd. (TSX: RIM) up $1.29 to $62.68 after it said it has been authorized to spend up to US$1.2 billion to buy back its common shares from the open market and cancel them.
The gold sector was down 0.55 per cent as bullion moved deeper into record high territory, with the December contract in New York up $2.30 to US$1,089.60 an ounce. Barrick Gold Corp. (TSX: ABX) lost 44 cents to $42.50.
The TSX energy sector fell 0.2 per cent as oil prices lost ground amid a strengthening U.S. dollar. The December oil contract on the New York Mercantile Exchange was down 56 cents to US$79.84 a barrel.
Canadian Natural Resources Ltd. (TSX: CNQ) shares slipped $1.74 to $66.86 after the company reported net income of $658 million or $1.21 per share in the third quarter, down from a year-ago profit of $2.8 billion or $5.25 cents per share. Quarterly revenue totals $2.82 billion, down from $4.6 billion last year as lower natural gas prices and high production costs take their toll.
The TSX financial sector was flat amid earnings reports from two big insurers.
Sun Life Financial Inc. (TSX: SLF) shares lost 57 cents to $29.54 after it cut its third-quarter loss by more than half but not as much as analysts had expected. The company turned in a net loss of $140 million or 25 cents per share, an improvement from a net loss of $396 million or 71 cents per share a year ago. Revenue more than tripled to $8.8 billion.
Analysts had estimated Sun Life would produce a smaller loss of 19 cents per share, according to Thomson Reuters, although such estimates typically exclude unusual items.
And Manulife Financial (TSX: MFC) turned in a net loss of $172 million, or 12 cents a share, compared with earnings of $510 million, or 33 cents a share a year earlier. Its shares fell 57 cents to $20.02.
The TSX Venture Exchange pushed up a point to 1,330.35.
New York's markets were up sharply as retailers posted their second consecutive gain in sales in October after more than a year of declines, proving that consumers are starting to spend a little more.
Dow Jones industrials rose 138.3 points to 9,940.4.
The Nasdaq composite index advanced 36.65 points to 2,092.17, helped along by a well-received earnings report from Cisco Systems while the S&P 500 index was up 12.95 points to 1,059.45.
Many analysts think that the markets are at a crucial juncture after running practically straight up since early March and that stocks could be facing a year-end slide. Over the last couple of months, most of the dips have proved to be short-lived.
However, the markets have been very volatile over the last couple of weeks, with many traders wondering whether current stock valuations are justified by the wider economic fundamentals.
In other earnings news, Goldcorp Inc. (TSX: G) increased its production guidance Wednesday as it reported a profit of US$114.2 million in its latest quarter. The gold miner said it expected to produce 2.4 million ounces, up from earlier guidance for production of 2.3 million ounces and its shares edged up 13 cents to $42.77.
In the U.S., Cisco Systems' net income dropped 19 per cent to $1.8 billion, or 30 cents per share. Excluding one-time charges, Cisco earned 36 cents per share. Revenue fell 13 per cent to US$9 billion. However, analysts expected even steeper declines. Cisco shares gained 43 cents to US$23.72.
Elsewhere, Canadian fertilizer giant Agrium Inc. (TSX: AGU) has made what it calls a "best and final" offer for U.S. competitor CF Industries Holdings Inc. (NYSE: CF) – a bid that values U.S. company, which has so far been highly resistant to its overtures, at about US$4.5 billion. Agrium shares advanced $1.16 to $52.39.
Overseas, Japan's Nikkei 225 stock average fell 1.3 per cent while Hong Kong's Hang Seng was down 0.6 per cent.
European markets were weak as the Bank of England and the European Central Bank also held the line on interest rates.
London's FTSE 100 was up 0.42 per cent, Frankfurt's DAX was ahead 0.55 per cent while the Paris CAC 40 was up 0.91 per cent.
