Daily Wrap-Up: Slim gain for TSX as most sectors rise

Slim gain for TSX as most sectors rise
There were gains for 9 out of the 10 sector groups of the main TSX index Thursday but with only small gains for each the overall index closed up just 0.12 per cent.

IT was the strongest performer of the session, up 0.70 per cent, while healthcare was the largest drag, down 2.3 per cent.

Wall Street closed mixed as the Dow stayed narrowly above water while the S&P500 and Nasdaq closed slightly below. European markets closed with losses while Asian bourses were mixed.

The S&P/TSX Composite Index closed up 19.22 (0.12 per cent)
The Dow Jones closed up 8.25 (0.04 per cent)
Oil is trending mixed (Brent down at $55.71, WTI up at $55.43 at 4.05pm)
Gold is trending higher (1240.90 at 4.05pm)
The loonie is valued at U$0.7646

Wawanesa to acquire Western Canadian
Wawanesa Mutual Insurance Company is to buy the Western Canadian insurance business from Desjardins in a $775 million deal.

Western Financial and Western Life will become part of the Wawanesa subsidiary Trimont Financial subject to regulatory and other approvals.

The deal is expected to close in the third quarter of 2017.

Saskatchewan leads decrease for employment insurance
There were 3,200 fewer beneficiaries of employment insurance in December, down 0.6 per cent from November with Saskatchewan leading the decrease (down 3.6 per cent.)

Quebec (1.7 per cent), BC (1.6 per cent) and PEI (1.3 per cent) also saw declines, while beneficiaries in Alberta increased (1.7 per cent).

Increases in Alberta also led to a rise in the number of beneficiaries over 12 months to December, which amounted to an extra 23,100 claimants (4.2 per cent).

Ford Canada not deterred by Trump
Planned investment by Ford Canada amounting to $700 million in two Ontario plants will still go ahead despite protectionist policies from President Trump. The new CEO and president Mark Buzzell said that the firm is still committed to the deal reached as part of the labour dispute with Unifor.