Tuesday, January 26, 2016 TSX Higher at Open 3M Climbs Advertisment Stocks in Canada’s largest market rose on Tuesday as shares in banks and energy companies were helped higher by a recovery in the price of oil to above $30 U.S. a barrel. The S&P/TSX composite index restored 48.26 points to open Tuesday at 12,191.42, after triple-digit losses Monday. The Canadian dollar regained 0.71 cents to 70.69 cents U.S. A worker at Centerra Gold’s Kumtor mine in Kyrgyzstan was fatally injured while working the night shift on Sunday. The employee was working at the ore conveyor at the mine's mill at the time, the company said in a statement. An internal investigation has been launched, and Kyrgyz police and other relevant regulatory authorities have been contacted. Centerra shares took on four cents to $6.28. BMO raised the target price on Detour Gold to $17.00 from $16.75, with a market perform rating after considering recent guidance and revised life-of-mine plan for Detour Lake, which now incorporates Block A now known as Detour West. Detour shares advanced 40 cents, or 2.5%, to $16.70. Canaccord Genuity cut the target price on Eldorado Gold to $4.00 from $4.25; with a buy rating to reflect 2016 guidance. Eldorado shares deducted a penny each to $2.97. Canadian National Railway reports Q4 numbers today, expecting earnings of $1.11 per share. CN shares lost 20 cents to $69.95. Grocer Metro Inc. expects Q1 earnings of 53 cents per share. Metro shares faded 61 cents, or 1.5%, to $41.27. ON BAYSTREET The TSX Venture Exchange recovered 2.66 points to 485.27. All but two of the 13 TSX subgroups were higher, led by gold, soaring 2.4%, metals and mining, up 2.3%, and materials, moving up 1.3% The two laggards were health-care, dropping 0.9%, and consumer staples, up 0.01%. ON WALLSTREET U.S. stocks traded mostly higher Tuesday, helped by a bounce in oil prices, amid earnings and data. The Dow Jones industrial average recovered and then some from Monday’s losses, picking up 229.66 points, or 1.5%, to 16,114.88, with 3M and Procter & Gamble contributing the most to gains. The S&P 500 regained 11.73 points to 1,888.81. The NASDAQ index erased 72.69 points, or 1.6%, to 4,518.49, as Apple held about 1% lower 3M traded more than 4.5%higher after posting quarterly results that beat on both the top and bottom line. The conglomerate said recent restructuring moves have made its operation more efficient and positioned it for long-term success. Procter & Gamble rose more than 3% after posting earnings that beat, on revenue that was essentially in line. The consumer products giant also gave 2016 revenue guidance that exceeded forecasts. Apple is scheduled to report after the closing bell, while DuPont, Procter & Gamble and Sprint were among those announcing results ahead of the open. The Federal Open Market Committee kicks off its two-day meeting Tuesday and releases its statement Wednesday afternoon. No change in rates is expected but investors will be scrutinizing the statement for insight into policymakers' views on the economic environment and the future path of tightening. In economic news, the flash Markit Services PMI for January came in at 53.7, compared to the final 54.3 December print. Consumer confidence was 98.1, up from a slightly downwardly revised 96.3 in December. The January Richmond Fed Manufacturing Index registered at two points, versus six points in December. Earlier, the S&P/Case-Shiller 20-City Composite rose 5.8% year-over-year in November, topping expectations and faster than the 5.5% increase in October. The November FHFA House Price Index rose 0.5% from the previous month, or 5.9% year-over-year. Prices for the 10-year Treasury dipped, raising yields to 2.02% from Monday’s 2.01%. Treasury prices and yields move in opposite directions. Oil prices notched ahead 27 cents a barrel to $30.61 U.S. Gold prices hiked $6.02 to $1,113.92 U.S. an ounce.