Stocks in Toronto doggedly made their way higher Monday, as energy stocks showed the way.
The S&P/TSX Composite added 18.72 points to start Tuesday at 15,498.85
The Canadian dollar recovered 0.37 cents at 75.91 cents U.S.
The outgoing chief executive of Canadian Pacific Railway, said to be in advanced talks with a partner to shake up CSX Corp, cannot hire any CP management except its chief of staff, according to details of an agreement published on Monday.
Hunter Harrison "cannot solicit or hire the company's employees above the level of manager," apart from chief of staff Mark Wallace, during a 36-month period.
CP shares trailed $1.02 to $200.95.
Goldmoney Inc has certified its gold-based financial products as sharia-compliant, the latest firm to combine blockchain technology to tap demand from Islamic investors. The firm began exploring sharia compliance in March of last year.
Goldmoney shares took on 10 cents, or 3.2%, to $3.27.
Teck Resources’ chief executive says the company has held talks with fellow miner Anglo American Plc about sharing port infrastructure at their neighboring copper mines in Chile.
Teck shares climbed 66 cents, or 2.1%, to $32.65.
Goldman Sachs raised the price target on Cameco Corp to $12.50 from $11 saying the company boasts a strong and strengthening balance sheet. It also holds long-term contracts that tend to insulate it from short-term fluctuations in the uranium spot price.
Cameco shares advanced 22 cents, to 1.4%, to $16.24.
CIBC raised the price target on Canfor Pulp Products to $14 from $12 reflecting an improved global pulp supply/demand outlook.
Canfor shares lost eight cents to $13.72.
Canaccord Genuity raised the price target on Ivanhoe Mines to $6.00 from $4.75 following its improved resource conversion assumptions and DRC discount revision.
Ivanhoe shares gained seven cents, or 1.8%, to $4.06.
ON BAYSTREET
The TSX Venture Exchange eased up 0.04 points to 805.12
Eight of the 12 subgroups were higher in the first hour, with energy 1.2% more energetic, materials surging 1%, and information technology up 0.4%.
The four laggards were co-led by financials, telecoms and consumer staples, each down 0.4%.
ON WALLSTREET
U.S. equities kicked off Tuesday trading marginally higher as investors pored over the latest batch of corporate earnings.
The Dow Jones Industrials inched up 13.96 to 19,813.81, with Boeing gaining the most, and 3M losing the most.
Five Dow components posted quarterly results before the bell. DuPont, 3M and Johnson & Johnson outpaced Wall Street earnings per share estimates, but fell short of revenue expectations. Telecom giant Verizon, meanwhile, missed on the bottom line while topping sales estimates. Travelers beat on both lines.
The index has closed lower in six of the past seven sessions.
The S&P 500 inched up 3.03 points to 2,268.23, with materials leading eight sectors higher.
The NASDAQ composite index recouped 10.96 points to 5,563.91
In economic news, the IHS Markit Manufacturing PMI for January are due this morning, likewise existing home sales data for December.
Prices for the benchmark 10-year Treasury note dipped, raising yields to 2.43% from Monday’s 2.41%. Treasury prices and yields move in opposite directions.
Oil prices recovered 43 cents to $53.18 U.S. a barrel
Gold prices added 30 cents to $1,215.90 U.S. an ounce.
