Equities in Canada’s largest centre rose on Tuesday as tensions between the United States and Iran seemed to ease with no escalation on either side.
The TSX Composite Index gained 62.31 points to reach noon EST Tuesday at 17,167.78
The Canadian dollar slid 0.29 cents to 76.84 cents U.S.
Oceanagold gave up earlier gains to falter half a cent, or 4.2%, to 11.5 cents. Novagold Resources, however, held onto gains of 41 cents, or 3.6%, to $11.67.
HEXO fell eight cents, or 4.2%, the most on the TSX, to $1.82, while the second biggest decliner was Seven Generations Energy, down 21 cents, or 2.4%, to $8.64.
On the economic front, Statistics Canada reported our Canada's merchandise exports declined 1.4% in November, while imports were down 2.4%.
As a result, Canada's merchandise trade deficit with the world narrowed from $1.6 billion in October to $1.1 billion in November.
Elsewhere, Western University’s IVEY School of Business unveiled its Purchasing Managers’ Index report for December, which stood at 51.9, indicating that purchases were greater than the previous month.
The number is down sharply from November’s 60 reading, and also quite a way off from the figure of 59.7 for December 2018.
ON BAYSTREET
The TSX Venture Exchange recovered 2.59 points to 584.34
All but one of the 12 TSX subgroups gained ground to move into the afternoon session, led by information technology, up 1.3%, while consumer discretionary stocks put on 1.1%, and materials prospered 0.9%.
Only energy missed the party, fading 0.9%.
ON WALLSTREET
Stocks were little changed on Tuesday as Wall Street assessed the growing geopolitical risks stemming from U.S.-Iran tensions along with better-than-expected data on the economy.
The Dow Jones Industrials came off its lows of the morning, but were still negative 77.78 points to 28,625.60
The S&P 500 sank 8.26 points to 3,238.02.
The NASDAQ recovered 3.76 points to 9,075.02.
President Donald Trump announced last week that the U.S. had killed Iran’s top military commander in Baghdad, Gen. Qasem Soleimani.
The president also said Sunday that he could slap sanctions on Iraq, after its parliament passed a resolution calling for the government to expel foreign troops from the country.
On the data front, the Institute for Supply Management said its reading on the U.S. services sector came in at 55, slightly better than expected.
Prices for the 10-Year U.S. Treasury were lower, raising yields to 1.81% from Monday’s 1.80%. Treasury prices and yields move in opposite directions.
Oil prices dropped 69 cents to $62.58 U.S. a barrel.
Gold prices added three dollars to $1,571.80 U.S. an ounce.
Stocks Little Changed as Tensions Subside
