Canada's main stock index rose on Wednesday, helped by shares of energy companies as oil prices gained after an industry report showed a drop in U.S. crude inventories and a cut in Libyan supplies.
The S&P/TSX Composite Index galloped 184.13 points, or 1.3%, to greet noon hour ET at 14,851.96
The Canadian dollar improved 0.25 cents to 74.99 U.S.
Among the largest percentage gainers on the TSX was North West Co Inc, which jumped $1.32, or 4.5%, to $30.78, after its third-quarter revenue beat analysts' estimates.
Torc Oil & Gas Ltd rose 29 cents, or 6.8%, to $4.53, after the company gave its 2019 production forecast and capital budget.
Canadian Apartment Properties REIT fell $2.16, or 4.6%, the most on the TSX, to $45.08, after the company announced public unit financing of $250 million.
The second-biggest decliner was Guyana Goldfields, down six cents, or 3.9%, to $1.47.
ON BAYSTREET
The TSX Venture Exchange gained 2.44 points to 566.58.
All but two of the 12 TSX subgroups remained positive by noon, as energy gushed 3.4%, while information technology picked up 2.8%, and health-care soared 2.2%
The lone laggards were in real-estate, sinking 0.4%, and utilities, off 0.2%.
ON WALLSTREET
Stocks traded higher on Wednesday as investors digested news related to the ongoing trade war between the United States and China.
The Dow Jones Industrial Average jumped 381.02 points, or 1.6%, to 24,751.26, led by gains in Caterpillar.
The S&P 500 recovered 40.54 points, or 1.5%, to 2,677.38, as the tech sector outperformed.
The NASDAQ jumped 137.04 points, or 2%, to 7,168.90, as Facebook, Amazon, Netflix and Google-parent Alphabet rose.
Shares of Caterpillar and Boeing both rose more than 1.5%. These stocks are considered global trade bellwethers because of their exposure to markets abroad.
Bank stocks also rose, while shares of J.P. Morgan Chase, Morgan Stanley and Citigroup all traded higher.
The Wall Street Journal reported China is working to increase access to foreign companies, a move aimed at smoothing U.S.-China trade relations. This plan, the report says, would replace the country’s Made in China 2025 plan, a framework aimed at making China a leader in industries like clean-energy cars and robotics.
President Donald Trump told the media on Tuesday he would he would intervene in the Justice Department’s case against a top executive at Chinese telecoms giant Huawei if it would help serve national security interests or help U.S.-Sino trade talks. Huawei is the one of the largest tech companies in China. It is also seen as a symbol of pride by the Chinese government.
Prices for the benchmark for the 10-year U.S. Treasury were lower, raising yields to 2.90% from Tuesday’s 2.88%. Treasury prices and yields move in opposite directions
Oil prices improved 51 cents to $52.16 U.S. a barrel.
Gold prices settled $3.60 to $1,250.80 U.S. an ounce.
