Canada's main stock index opened higher on Wednesday, as heightened tensions between the U.S. and its NATO allies over control of Greenland fanned a record rally in precious metal prices.
The TSX index restocked 188.2 points to open Wednesday at 32,938.38.
The Canadian dollar gained 0.21 cents to 72.50 cents U.S.
ON BAYSTREET
The TSX Venture Exchange added 5.04 points to 1,098.37.
All but three of the 12 TSX subgroups gained ground Wednesday, led by energy, zooming 3%, while industrials and information technology each claimed 0.8%.
The three laggards were health-care, down 0.8%, while telecoms and utilities, each shedding 0.1%.
ON WALLSTREET
Stocks rose after President Donald Trump told the World Economic Forum he would not use force to acquire Greenland, easing a concern that has rattled markets and caused a flight from dollar-based assets.
The Dow Jones Industrials recovered 364.78 points, or 1.8%, to 48,853.37.
The S&P 500 picked up 51.31 points to 6,848.17.
The NASDAQ hiked 183.93 points, or 2.4%, to 23,138.25.
Trump was commenting in his speech in Davos, Switzerland, about how he believed the U.S. was carrying the financial and military load for NATO.
The president also said in his Davos speech that he would be asking Congress to implement his proposed credit card cap of 10%, an uncertain prospect given lack of support among lawmakers.
That comment sent bank stocks higher. Citigroup gained around 2%, and Capital One rose more than 1%.
Prices for the 10-year Treasury withered, lowering yields to 4.28%, from Tuesday’s 4.29%. Treasury prices and yields move in opposite directions.
Oil prices ducked 16 cents to $60.20 U.S. a barrel.
Gold prices leaped $83.00 to $4,848.80.
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