More Big Gains for TSX

Shawcor, Secure in Focus

Canada's main stock index climbed on Wednesday after the country's legislators agreed to approve a $27-billion stimulus bill to help people and businesses deal with the coronavirus pandemic.

The TSX Composite Index leaped 625.46 points, or 5%, to enter Wednesday‘s noon hour at 13,196.54

The Canadian dollar regained 0.58 cents at 69.83 cents U.S.

The bill - which also includes $55 billion in the form of tax deferrals - must now be approved by the Senate, which will meet later on Wednesday.

The biggest percentage gainers on the TSX were Shawcor Ltd, which jumped 12.1%, followed by shares of NFI Group, which rose 11.9%.

Secure Energy Services fell 4.3%, the most on the TSX, followed by the shares of Seven Generation, down 4.9%.

ON BAYSTREET

The TSX Venture Exchange hiked 8.52 points to 389.27.

All but two of the 12 TSX subgroups were in the plus column, with real-estate hiking 10.5%, utilities climbing 9.1%, and financials richer 8%.

The two laggards were materials, down 0.6%, and gold, sliding 0.5%.

ON WALLSTREET

The Dow Jones Industrial Average rose on Wednesday following a historic rally in the previous session in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight.

The 30-stock index vaulted 941.68 points, or 4.6%, to 21,646.59, a day after the big board notched its sharpest one-day percentage gain since 1933, and steepest point rise ever

The broader S&P 500 resurfaced 72.21 points, or 1.3%, to 2,518.68

The NASDAQ popped 103.7 points, or 1.4%, to 7,523.84.

Boeing shares rallied 30% to lead the Dow higher. A 10.3% gain in Nike also boosted the Dow.

White House and Senate leaders agreed to a massive $2-trillion coronavirus stimulus bill in the middle of the night.

Prices for the 10-Year U.S. Treasury gained, lowering yields to 0.82% from Tuesday’s 0.84%. Treasury prices and yields move in opposite directions.

Oil prices nicked higher seven cents to $24.08 U.S. a barrel.

Gold prices slumped $26.50 to $1,634.30 U.S. an ounce.