World shares were mixed on Thursday, with most markets closed for the May Day holiday, while oil prices held steady at US$111 a barrel. In Asia, Japan's Nikkei index edged higher, but trading volumes were thin due to the holiday closures across Europe and other regions. The S&P/TSX composite index in Canada closed higher, buoyed by gains in the energy and technology sectors. U.S. stock markets also climbed, with the Dow Jones Industrial Average and the S&P 500 both posting modest gains.
Apple Beats Earnings Estimates
Apple Inc. reported quarterly earnings that surpassed analyst expectations, driven by continued strong demand for iPhones. The tech giant's revenue and profit both exceeded forecasts, sending its shares up in after-hours trading. The positive results provided a boost to investor sentiment, offsetting concerns about rising interest rates and inflation.
Oil Prices Steady
Crude oil prices remained stable, with Brent crude trading near US$111 a barrel. The market was supported by ongoing supply disruptions and geopolitical tensions, but gains were capped by demand concerns amid slowing global economic growth. Traders are closely watching upcoming OPEC+ meetings for any signals on output policy.
Canadian Markets
In Canada, the S&P/TSX composite index closed 0.3% higher, led by energy and mining stocks. The energy sector rose as oil prices held firm, while base metal miners gained on higher copper and silver prices. Meanwhile, the Canadian dollar strengthened against the U.S. dollar, trading at 78.5 cents US.
Other News
In other corporate developments, Circle Retail Properties announced plans to acquire the former Hudson's Bay space at Windsor's Devonshire Mall. The Mint marked the 50th anniversary of its Winnipeg location. Additionally, a Sudbury mining supervisor won $1 million in a Lotto 6/49 draw.
