Equities in Canada’s largest centre managed to stay just north of the breakeven point, as gains in health-care overcame lower performances among materials and utilities
The TSX Composite Index gave up much of its gains, just above Friday’s close by 3.23 points to conclude Tuesday at 16,418.39
The Canadian dollar moved ahead 0.16 cents to 75.74 cents U.S.
Aphria jumped 98 cents, or 15.8%, the most on the benchmark index, to $7.19, after the cannabis company posted a surprise quarterly profit. Elsewhere among health-care concerns, Cronos Group jumped 61 cents, or 5.9%, to $10.98.
In the tech world, Shopify popped $21.06, or 4.8%, to $456.05, while Kinaxis climbed $2.79, or 3.4%, to $85.39.
Financials fared well, too, as Industrial Alliance gathered 95 cents, or 1.6%, to $61.05, while Power Corporation picked up 41 cents, or 1.4%, to $30.60.
Materials weighed down the index most, as Teck Resources collapsed 77 cents, or 3.5%, to $21.37, while Wheaton Precious Metals gave back $1.35, or 3.9%, to $33.26.
Among gold issues, OceanaGold slumped 42 cents, or 12.2%, to $3.01, while Alamos Gold dipped 91 cents, or 12.1%, to $6.59.
In the utility sector, Hydro One slouched 33 cents, or 1.3%, to $24.22, while Emera Inc., sank 75 cents, or 1.3%, to $56.72.
On the economic slate, the Canadian Real Estate Association declared national home sales were up slightly in September, rising rose 0.6% month-over-month. Actual (not seasonally adjusted) activity was up 15.5% year-over-year
ON BAYSTREET
The TSX Venture Exchange edged up 0.43 points Tuesday to 541.19
Seven of the 12 Toronto subgroups gained ground, with health-care jumping 3.1%, information technology up 1.6%, and financials ahead 0.7%.
The five laggards were weighed most by materials, down 2.1%, gold, drooping 1.7%, and utilities, sliding 0.7%.
ON WALLSTREET
Stocks closed sharply higher on Tuesday as the corporate earnings season got off to a strong start.
The Dow Jones Industrials vaulted 237.44 points to close Tuesday at 27,024.80, its first close above 27,000 since Sept. 19.
The S&P 500 improved 29.53 points, or 1%, to 2,995.68. The S&P 500 was about 1% away from reaching an all-time high.
The NASDAQ Composite heightened 100.06 points, or 1.2%, to 8,148.71
J.P. Morgan Chase shares jumped 3% after its third-quarter numbers topped analyst expectations. The company’s revenue also hit a record, boosted by home and auto loans along with credit cards.
UnitedHealth, another Dow member, posted a quarterly profit that topped analyst expectations by 13 cents per share. The company’s results got a boost from growing pharmacy benefits. UnitedHealth also hiked its full-year earnings guidance. UnitedHealth shares climbed 8.2% to notch its biggest one-day gain in over a decade.
Johnson & Johnson, meanwhile, saw its third-quarter numbers lifted by higher sales of cancer and other prescription drugs. The numbers sent the stock up by 1.6%.
Expectations for the corporate earnings season overall were downbeat entering Tuesday. Analysts expect S&P 500 earnings to fall by 4.6% on a year-over-year basis.
United Airlines is among the companies set to report after the bell Tuesday. Netflix, IBM and Bank of America are all scheduled to report Wednesday.
Wall Street also got a boost from stronger-than-forecast economic data. New York’s Empire State manufacturing index hit 4 for October, up from a print of 2 in September. Economists polled by Dow Jones expected a reading of 0.8.
Prices for the benchmark 10-year U.S. Treasury fell, raising yields to 1.77% from Friday’s 1.73%. Treasury prices and yields move in opposite directions.
Oil prices shed 66 cents to $52.93 U.S. a barrel.
Gold prices dropped $12.60 to $1,485.00 U.S. an ounce.
