Stocks Continue Upward Progress

Lightspeed, Canopy in Focus

Canada's main stock index rose on Tuesday, as data showing domestic manufacturing activity expanded in July for the first time in five months bolstered optimism around a post-coronavirus economic recovery.

The S&P/TSX Composite Index popped 159.7 points, or 1%, to 16,328.90.

The Canadian dollar poked ahead 0.2 cents to 74.86 cents U.S.

Markets in Canada were shuttered for Civic Holiday.

The largest percentage gainer on the TSX was Lightspeed POS, which jumped $3.63, or 9.6%, to $41.47.

Among health-care concerns, pot producer Canopy Growth gained 86 cents, or 3.5%, to $25.32.

The energy sector was lifted by gains in shares of Ballard Power Systems, which proceeded upward $1.10, or 5.8%, to $20.13, and Tourmaline Oil, which rose 80 cents, or 5.9%, to $14.42.

On the economic calendar, the Markit Canada Manufacturing Purchasing Managers Index climbed to 52.9 in July, up from 47.8 in June, registering registered above the 50.0 no-change threshold for the first time in five months.

Markit says the latest PMI reading was the highest since January 2019 and signaled a partial rebound in business conditions from the low point seen during April (index at 33.0).


The TSX Venture Exchange raced 17.78 points, or 2.5%, to reach noon at 739.02.

Eight of the 12 TSX subgroups were in the green midday, with energy racing 4.4%, health-care haler by 2.9%, and communications ahead 1.9%.

The four laggards were weighed most by industrials, backtracking 0.9%, while consumer staples and real-estate retreated 0.1% each.


Stocks rose on Tuesday, building on the previous session’s strong gains, as lawmakers try to make inroads on a new coronavirus stimulus package.

The Dow Jones Industrials grew 91.71 points to 26,756.11.

The S&P 500 gained 1.57 points to 3,296.18. Both the Dow and S&P 500 were on pace to post three-day winning streaks.

The NASDAQ faded 22.76 points to 10,880.04.

Apple rose 0.6% and UnitedHealth gained 1.5%. The energy and real estate sectors rose more than 1% each to lead the S&P 500 higher.

Airline stocks experienced broad gains as well. United and Delta Air Lines both advanced more than 2%. American jumped 5.1% and JetBlue gained 3.1%.

Tuesday’s readings come as lawmakers struggle to make inroads on a new coronavirus stimulus package. House Speaker Nancy Pelosi said she, Senate Minority Leader Chuck Schumer and White House chief of staff Mark Meadows held “productive” discussions on Monday, but added there are several issues still outstanding

Prices for the 10-Year Treasury gained, lowering yields to 0.52% from Monday’s 0.54%. Treasury prices and yields move in opposite directions.

Oil prices regained 58 cents to $41.59 U.S. a barrel.

Gold prices shone $28.10 brighter to $2,014.40 U.S. an ounce.