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TSX Springs Back up

Bausch, New Gold Sharply Higher

Toronto stocks gained ground with both hands Wednesday, drawing the strength of health-care and gold stocks.

The TSX Composite gained 194.56 points to close Wednesday at 22,107.08.

The Canadian dollar edged 0.05 cents lower to 73.68 cents U.S.

Among health-care stocks, Bausch Health Companies rocketed 78 cents, or 5.9%, to $14.20, while Tilray soared 24 cents, or 7.7%, to $3.37.

Gold triumphed, primarily, New Gold, booming 15 cents, or 7.5%, to $2.28, while Alamos Gold jumped $1.22, or 6.6%, to $19.67.

In materials, First Quantum Minerals muscled higher 88 cents, or 6.5%, to $14.20, while MAG Silver drew $1.09 higher, or 8.9%, to $13.33.

Only tech stocks waned, as Celestica dropped $1.33, or 2.1%, to $61.65, while Open Text lurched lower 87 cents, or 1.6%, to $52.62.


The TSX Venture Exchange added 10.27 points, or 1.9%, to 558.74.

All but one of the 12 TSX subgroups were higher, with health-care climbing 3.8%, gold, shinier 3.2%, and materials, up 2.5%.

Only information technology missed out, losing 0.2%.


The S&P 500 rose Wednesday to snap a three-day string of losing sessions.

The Dow Jones Industrials thundered higher 477.75 points, or 1.2%, to 39,760.08.

The much-broader index spiked 44.91 points to 5,248.49.

The NASDAQ climbed 83.82 points to 16,399.52.

Wednesday’s best-performing stocks in the S&P 500 include Cintas, up 7% on the back of better-than-expected earnings. Shares of Merck were up nearly 5%, hitting a new all-time high, after the U.S. Food and Drug Administration approved Winrevair, the company’s life-threatening lung condition treatment, for use among patients with pulmonary arterial hypertension.

Those moves follow three negative days for the S&P 500 and the Dow after stocks closed at record levels last week. Despite the recent pullback, all three major indexes are still on pace to end the trading month and quarter, which both conclude with Thursday’s closing bell, in the green.

As of Tuesday’s close, the S&P 500 has added 2.9% in the month and 9.9% in the quarter. The NASDAQ has climbed 1.9% in March and 9.2% during the three-month period, while the Dow has added 1.9% and 5.4% during the respective periods.

Later in the week, investors will watch for data on jobless claims, gross domestic product and consumer sentiment on Thursday. While the market is closed on Good Friday, attention will be on releases tied to personal income, consumer spending and the personal consumption expenditures expected in the morning.

Prices for the 10-year Treasury nicked up, lowering yields to 4.19% from Tuesday’s 4.23%. Treasury prices and yields move in opposite directions.

Oil prices poked up 10 cents to $81.72 U.S. a barrel.

Gold prices picked up $15.40 to $2,214.60 U.S. an ounce.