Equities in Canada were set to extend gains on Tuesday, tracking higher crude-oil prices, ahead of inflation data.
The TSX jumped 131.71 points to close Monday at 19,519.43.
March futures on the S&P/TSX index soared 0.5% Tuesday morning.
The Canadian dollar inched 0.06 cents to 73.21 cents U.S.
Ritchie Bros Auctioneers said it had completed the acquisition of U.S. auto retailer IAA, weeks after two proxy advisory firms urged shareholders to reject the $7-billion deal.
U.S.-based buyout fund KKR & Co Inc has agreed to sell a 50% stake in Spanish renewable energy company X-Elio Energy to asset manager Brookfield.
On the economic board, Statistics Canada’s consumer price index rose 5.2% on a year-over-year basis in February, following a 5.9% increase in January. On a seasonally adjusted monthly basis, the CPI rose 0.1% in February.
ON BAYSTREET
The TSX Venture Exchange grabbed 2.2 points Monday to 607.28.
ON WALLSTREET
Stock futures rose Tuesday as traders tried to add to a rally from the previous session that was sparked by hope that the banking turmoil would be contained.
Futures for the Dow Jones Industrials shot higher 288 points, or 0.9%, early Tuesday to 32,744.
Futures for the S&P 500 hiked 36 points, or 0.9%, to 4,019.
Futures for the NASDAQ Composite jumped 93.75 points, or 0.7%, to 12,782.25.
Regional banks surged in early trading, led by First Republic. The beaten-down bank jumped 21.9%, a day after losing 47%. Regionals got a boost after Treasury Secretary Janet Yellen said Tuesday morning that the government is ready to provide further guarantees of deposits if the banking crisis worsens.
Investors now expect a slower pace of tightening from the Federal Reserve in light of the banking crisis. Traders now are pricing in a 83% chance of a quarter-point rate hike when the Fed wraps its two-day policy meeting on Wednesday. The probability of a pause is at 16.6%.
In Japan, markets were closed for holiday Tuesday, while in Hong Kong, the Hang Seng regained 1.4%.
Oil prices recovered 96 cents to $68.60 U.S. a barrel.
Gold prices sank $13.30 to $1,969.50 U.S. an ounce.
