(FILLS ON PRICES ON CDN. STOCKS, REVISES READINGS FOR TSX, VENTURE, CDN. DOLLAR)
Canada's main stock index edged higher on Tuesday, even after energy stocks faded and as global stocks rose towards new six-month highs.
The S&P/TSX Composite Index held onto gains of 12.33 points, mid-morning Tuesday to 16,527.79
The Canadian dollar gained 0.14 cents at 74.91 cents U.S.
Australia's Healthscope cut its fiscal 2019 hospital operating earnings guidance and set May 22 as the date for shareholders to vote on the takeover bid from Canadian investment firm Brookfield.
Brookfield shares approached mid-morning Tuesday up three cents to $64.24.
RBC raised the price target on CGI Inc. to $100.00 from $95.00. CGI shares gained 59 cents to $95.13.
CIBC cut the price target on NFI Group to $44.00 from $45.00. NFI shares retreated $1.50, or 4.5%, to $31.71.
Eight Capital cut the target price Yamana Gold to $4.50 from $4.75. Yamana shares dipped 18 cents, or 5.3%, to $3.12.
On the economic calendar, Statistics Canada reported that offshore investors bought $12 billion into Canadian investments in February following a significant investment of $28.6 billion in January, while Canadians investment in foreign securities increased to $5.3 billion, led by purchases of U.S. corporate bonds.
Also, the agency said, manufacturing sales in Canada edged down 0.2% in February to $56.6 billion, following a 0.8% increase in January.
Lower sales at motor vehicle assembly and wood products industries were largely offset by gains in the petroleum and coal product, paper and machinery industries.
ON BAYSTREET
The TSX Venture Exchange dipped 1.14 points to 617.68
Eight of the 12 Toronto subgroups gained ground in the first hour, as health-care triumphed 2.2%, information technology clicked 0.8% higher, and consumer discretionary stocks gained 0.5%
The four laggards were weighed most by gold, sliding 1.6%, materials, down 0.9%, and energy, off 0.4%.
ON WALLSTREET
Stocks traded higher on Tuesday as investors cheered strong earnings from companies like UnitedHealth Group and Johnson & Johnson.
The Dow Jones Industrial Average regrouped 58.36 points to 26,443.13
The S&P 500 regained 7.26 points to 2,912.84, as the health-care sector outperformed. Tuesday’s move pushed the S&P 500 closer to 2,940, a record high set in late September.
The S&P 500 is up more than 15% this year in large part because the Fed indicated it may not raise rates at all in 2019, a stark contrast to the four hikes from last year.
The NASDAQ Composite gained 38.46 points to 8,014.47
UnitedHealth Group reported better-than-expected earnings and revenue. The company also raised its earnings guidance for the full year. Shares of UnitedHealth rose about 3% before trading about 0.5% higher.
Johnson & Johnson, another Dow component, climbed 2.9% on stronger-than-forecast quarterly results. More than half of its revenue came from prescription drug sales, which increased by more than 4%.
Other companies that posted better-than-expected quarterly earnings include Bank of America and BlackRock. IBM, Netflix, and CSX are among the companies set to report after Tuesday’s close.
Prices for the benchmark 10-year U.S. Treasury were slightly higher, lowering yields to 2.58% from Monday’s 2.55%. Treasury prices and yields move in opposite directions
Oil prices sank 14 cents to $63.51 U.S. a barrel.
Gold prices plunged $12.80 to $1,290.80 U.S. an ounce.
