Equities in Canada’s largest marketplace had a banner day, boasting triple-digit gains Wednesday, following interest rate news south of the border.
The S&P/TSX Composite Index vaulted 141.3 points to close the day at 15,520.91
The Canadian dollar gained 0.96 cents to surmount the 75-cent level at 75.19 cents U.S.
Chief beneficiaries of the interest rate relief appeared to be in the gold section, as IAMGOLD climbed 60 cents, or 13.2%, to $5.16, while the world’s largest gold miner, Barrick Gold, spiked $1.34, or 5.6%, to $25.33.
Materials also leapt, as Lundin Mining gained 42 cents, or 5.6%, to $7.89, while First Quantum Minerals hiked 69 cents, or 5.2%, to $14.07.
In the energy field, EnCana Corporation moved north 79 cents, or 5.7%, to $14.69, and Cenovus Energy traveled 65 cents, or 4.1%, higher, to $16.68.
Only financials were pointed downward, as Bank of Montreal shed $1.25, or 1.2%, to $101.24, while Scotiabank dived 81 cents, or 1%, to $78.22.
ON BAYSTREET
The TSX Venture Exchange soared 14.41 points, or 1.8%, to 807.28
All but one of the 12 TSX subgroups remained positive all day, as gold shone brighter 6.2%, materials strengthened 4.4%, and energy gushed 3.1% higher.
Only financials missed the party, poorer by 0.5%.
ON WALLSTREET
U.S. stocks galloped Wednesday, helped by a bounce in oil prices, after the Federal Reserve took a less aggressive stance than expected. The central bank did raise interest rates, as expected.
The Dow Jones Industrials hiked 112.52 points to conclude Wednesday trading at 20,949.89. UnitedHealth contributed the most to gains.
Apple had the third-greatest positive impact on the Dow and hit a fresh intraday record.
The S&P 500 recouped 19.74 points to 2,385.19, with energy leading nine sectors higher and information technology and consumer discretionary the only decliners.
The NASDAQ jumped 43.23 points to 5,900.05, also touching a fresh all-time intraday high.
For the second time in three months, the Fed increased its benchmark interest rate a quarter-point amid rising confidence that the economy is poised for more robust growth.
The move, widely anticipated by financial markets, takes the overnight funds rate to a target range of 0.75% to 1% and sets the Fed on a likely path of regular hikes ahead.
In economic news, the consumer price index rose 0.1% in February for a 2.7% increase over the last 12 months, the biggest year-on-year gain since March 2012. Ex-food and energy costs, the so-called core CPI rose 2.2% in the 12 months through February.
Retail sales posted a 0.1% rise last month, the weakest print since August. Excluding automobiles, gasoline, building materials and food services, the so-called core retail sales rose 0.1% after an upwardly revised 0.8% jump in January.
Both CPI and retail sales mostly matched expectations.
The Empire State Manufacturing Index edged lower to 16.4 for March. The new orders index climbed eight points to 21.3, its highest level since 2009, according to the New York Fed.
A separate report showed home builder sentiment hit 71 in March, its highest perch in 12 years.
Business inventories rose 0.3% in January.
Prices for the benchmark 10-year Treasury note moved sharply upward, lowering yields to 2.5% from Tuesday’s 2.6%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.10 to $48.82 U.S. a barrel
Gold prices leaped $16.80 to $1,219.40 U.S. an ounce.
