Stocks in Canada’s largest centre opened slightly higher on Tuesday as gains in the resource and financial sectors offset a decline in shares of TMX Group after Scotia Capital and Alberta Investment Management said they would cut their stake in the company.
The S&P/TSX Composite Index gained 27.55 points to open Tuesday at 15,732.55.
The Canadian dollar regained 0.06 cents to 80 cents U.S
India's Reliance Communications is reworking a planned $1.7-billion U.S. stake sale in its tower assets after scrapping a proposed merger of its wireless arm with smaller rival Aircel.
Brookfield Asset Management, which was to pay 110 billion rupees ($1.7 billion U.S.) for the majority stake in company's tower arm, will revalue the assets after the Aircel deal was scrapped, according to one of Reliance’s officials.
Brookfield shares acquired two cents to $52.03.
Scotia Capital Inc, a unit of Bank of Nova Scotia, and Alberta Investment Management Corp said they would cut their stake in the owner of Toronto Stock Exchange to less than 5% each.
Scotiabank shares gained 23 cents to $80.18.
Mark Kokes, the man who was leading BlackBerry Ltd's efforts to make money from its patent portfolio has reportedly left to join a health technology company.
BlackBerry shares dropped 30 cents, or 2.1%, of their strength, to $13.91.
Desjardins raised the target price on Heroux Devtek to $18.00 from $15.00. Heroux Devtek shares gained 43 cents, or 3.1%, to $14.33.
Barclays raised the price target on Metro Inc. to $45.00 from $44.00. Metro shares slipped 27 cents to $42.09.
ON BAYSTREET
The TSX Venture Exchange recovered 4.4 points to 784.86
All but two of the 12 TSX subgroups grew in strength in the first hour, with consumer staples soaring 0.6%, materials surging 0.5%, and gold, up 0.4%.
The two laggards were utilities and industrials, each down 0.1%.
ON WALLSTREET
U.S. stocks opened higher on Tuesday, building on strong gains from their previous session.
The Dow Jones Industrials continued on the move, adding 60.15 points to Monday’s record, to open at 22,617.75, with 3M contributing the most to the gains.
The S&P 500 picked up 1.21 points to 2,530.36, on top of Monday’s all-time record, with telecommunications leading advancers.
The NASDAQ, however, deducted 2.12 points to 6,514.60
In economic news, monthly auto sales data will be released throughout the day.
Prices for the benchmark 10-year Treasury note were unchanged, holding yields at Monday’s 2.34%.
Oil prices faded three cents a barrel to $50.55 U.S.
Gold prices inched up 30 cents to $1,276.10 U.S. an ounce
