Markets Continue Positive Midday

Finning, WestJet at Centre Stage

Canada's main stock index gained on Tuesday in a broad-based rally led by energy stocks, which were supported by higher oil prices.

The S&P/TSX Composite Index came off its lofty gains of the morning, but remained ahead 60.21 points to greet noon at 14,788.49

The Canadian dollar dropped 0.09 cents to 74.55 U.S.

First Quantum gained nine cents to $11.95.

Cenovus Energy rose 25 cents, or 2.5%, to $10.29, after the company said it would reduce its capital spending for 2019 by 4%.

Finning International rose 42 cents, or 1.7%, to $24.96, after the company acquired mobile on-site refueling company 4Refuel.

New Gold fell gave back a cent to $1.12, while WestJet Airlines slumped 66 cents, or 3.4%, to $18.88.

ON BAYSTREET

The TSX Venture Exchange recovered 3.17 points to 566.66.

All but three of the 12 TSX subgroups remained positive by noon, with health-care growing 2.3%, consumer staples surging 1.4%, and information technology stronger 0.8%

The three laggards were energy, slumping 0.6%, gold, worse off by 0.4%, and materials, dipping 0.3%.

ON WALLSTREET

Stocks rose on Tuesday in another volatile session amid signs that U.S.-China trade relations could be improving.

The Dow Jones Industrial Average came off its highs of the morning, but hung onto 59.37 points to 24,482.63

The S&P 500 moved up 12.17 points to 2,649.89.

The NASDAQ gained 52.87 points to 7,073.39

Bloomberg News reported earlier on Tuesday that China is moving toward cutting tariffs on cars made in the U.S. to 15% from the current 40%. The proposal has been submitted to the Chinese Cabinet and will be reviewed in the coming days, the report says.

Shares of Ford Motor, General Motors and Fiat Chrysler all rose more than 1%.

Caterpillar shares rose 0.7% while Deere gained 1.1%. These stocks are seen as bellwethers for global trade because of their exposure to overseas markets.

Prices for the benchmark for the 10-year U.S. Treasury were slightly higher, lowering yields to 2.85% from Monday’s 2.86%. Treasury prices and yields move in opposite directions

Oil prices improved 97 cents to $51.97 U.S. a barrel.

Gold prices settled 90 cents to $1,248.50 U.S. an ounce.