Canada's main stock index rose on Tuesday, led by gains in the heavyweight energy, information and financials sectors as crude oil prices steadied and two of the country's main banks reported quarterly earnings.
The S&P/TSX composite index hoisted 130.07 points, or nearly 1%, to greet noon at 13,543.60.
The Canadian dollar dipped 0.06 cents to 74.78 cents U.S.
Bank of Montreal rose 1.4% to $78.17 after reporting higher profit and upping its dividend, while Bank of Nova Scotia was flat at $60.88 after its quarterly report.
Energy stocks climbed, with Suncor Energy up 1.1% to $37.31 and Cenovus Energy advancing 2.9% to $20.34.
ProMetic Life Sciences shares fell 9.3% to $3.21 after the company said it will transition its drug to treat Type 2 diabetes to a new placebo-controlled trial.
Among tech issues, BlackBerry gained six cents to $10.68.
Statistics Canada reported that the economy grew in the third quarter, with gross domestic product up 0.6% in the third quarter, following two consecutive quarterly declines. The nation’s number crunchers reported that quarterly growth was driven by more international demand for our goods and services as exports grew 2.3%.
On a monthly basis, GDP fell 0.5% in September, primarily as a result of the declines in mining, quarrying, and oil and gas extraction and, to a much lesser extent, manufacturing.
Sticking with items economic, RBC announced a slight gain in its manufacturing Purchasing Managers’ Index for November over the month before.
Canada’s biggest bank told Canadians that, at 48.6 last month, the seasonally adjusted PMI picked up from a survey-record low of 48.0 during October, but still below its 49.5-point monthly average for the year so far.
RBC cites the main factor boosting the headline index in November was a much slower decline in production volumes than seen during the previous month.
ON BAYSTREET
The TSX Venture Exchange dropped 2.69 points to stumble into midday at 520.78.
All but two of the 13 TSX subgroups were higher, with energy and information technology, up 1.3% each, and consumer staples climbing 1.2%.
The two laggards were health-care, fading 2.6%, and industrials, sagging 0.3%.
ON WALLSTREET
U.S. stocks traded higher on Tuesday to open as investors looked toward data ahead of major central bank news expected later in the week.
The Dow Jones industrial average rose 102.09 points to 17,822.01, climbing into positive territory for the year in intraday trade, with Boeing leading advancers and Caterpillar the greatest decliner.
The S&P 500 stayed positive 12.43 points to 2,092.84, health-care issues leading all 10 sectors higher.
The NASDAQ index gained 25.45 points to 5,134.11
Fiat Chrysler, General Motors, Toyota and Ford reported gains in November U.S. sales. U.S. auto sales are expected to rise above 18 million vehicles on an annualized basis for November, continuing a pace for a record sales year in 2015.
Amazon.com traded more than 1% higher after the firm said it had a record sales weekend for Amazon-made devices such as its Fire tablets, Fire TVs, and its Amazon Echo digital assistant.
U.S. ISM November Manufacturing PMI came in at 48.6, in contraction territory and below the expected 50.5 read.
Construction spending rose 1% for October, topping estimates of 0.6%.
The U.S. Markit PMI for November was 52.8, above the flash read of 52.6 but below the final October print of 54.1.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.16% from Monday’s 2.21%. Treasury prices and yields move in opposite directions.
Oil prices picked up four cents a barrel to $41.69 U.S.
Gold prices were up 57 cents to $1,067.05 U.S. an ounce.
