Equities in Toronto rose in early trade on Tuesday as shares of energy companies gained along with oil prices and financial stocks also provided support.
The S&P/TSX Composite Index regained 72.65 points to open Tuesday at 15,514.97
The Canadian dollar leaped 0.38 cents to 75.34 cents U.S.
Dominion Diamond Corp and rival Stornoway Diamond Corp have reportedly held talks about a potential merger in recent months.
Dominion shares advanced eight cents at the outset to $16.35, while Stornaway shares were static at 94 cents.
CIBC cut the target price on AutoCanada to $20.00 from $22.00. AutoCanada gained 17 cents to $21.53.
CIBC raised the target price on BCE to $60.00 from $59.00. BCE shares took on 28 cents to $57.84.
Desjardins cut the rating on Stella-Jones to hold from buy. Stella Jones shares dropped 64 cents, or 1.6%, to begin the session to $38.75.
OPEC sources have indicated the group's members increasingly favor an extension but want the backing of non-OPEC oil producers, which have yet to deliver fully on existing cuts.
On the economic calendar, Statistics Canada reported that retail sales rose 2.2% to $46.0 billion in January, led by four sub-sectors that rebounded from lower sales in December.
The agency adds, excluding sales at motor vehicle and parts dealers, retail sales advanced 1.7%.
ON BAYSTREET
The TSX Venture Exchange gained 0.6 points to 812.23
All but one of the 12 TSX subgroups were stronger to start, as consumer staples raced ahead 0.8%, while gold and energy each galloped 0.7%.
Only health-care issues wilted, and 0.2% at that.
ON WALLSTREET
U.S. equities rose on Tuesday, as information technology led, while investors also paid attention to rising oil prices.
The Dow Jones Industrials reversed course from Monday and gained 13.69 points to 20,919.55, with Apple contributing the most gains.
The S&P 500 picked up 1.56 points to 2,375.03, with information technology leading all 11 sectors higher.
The NASDAQ progressed 4.97 points to 5,906.50, a fresh all-time high.
Shares of Apple rose 0.8% after the firm announced a new version of its 9.7-inch iPad and special editions for the iPhone 7 and iPhone 7 Plus. The stock also hit a record high, along with Netflix.
In corporate news, General Mills reported mixed quarterly results, pointing to a gap in pricing and promotional activity.
On the data front, fourth-quarter current account figures showed the deficit fell, hitting its lowest level in more than a year, as an increase in the primary income surplus offset a soybean-driven drop in exports.
Meanwhile, the Philadelphia Federal Reserve non-manufacturing index slipped in March, but still showed overall business growth.
Prices for the benchmark 10-year Treasury note gained slightly, lowering yields to 2.47% from Monday’s 2.47%. Treasury prices and yields move in opposite directions.
Oil prices sank 51 cents to $48.27 U.S. a barrel
Gold prices gained $4.40 to $1,234.60 U.S. an ounce.
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