Stock markets in Toronto started Tuesday off on the right foot, after comments from top Chinese and U.S. central bankers eased worries about the future of the Federal Reserve's monetary easing policy.
The S&P/TSX Composite Index recovered 82.38 points to begin the session at 11,919.24, after being punished nearly 160 points on Monday
China's central bank said it will help any banks facing a temporary shortage with cash, and added it has already provided money to some institutions, in further comments aimed at soothing battered money markets.
BlackBerry launched a service allowing government agencies and corporate clients to secure and manage devices powered by Google's Android platform and Apple Inc's iOS operating system. The company formerly known as Research In Motion saw its shares increase 40 cents to $15.15
Suncor Energy Inc said on Monday it has temporarily reduced production from its Fort McMurray operations in Alberta, as a result of the shutdown of the Enbridge Inc pipeline system within the region. Suncor shares took on four cents to $30.40
Health-care stocks celebrated the opening bell Tuesday, as CML HealthCare skyrocketed $3.42, or 47.5%, to $10.62.
Metals and mining stocks also enjoyed a strong open, led by Capstone Mining, surging nine cents, or 5.3%, to $1.80.
ON BAYSTREET
The TSX Venture Exchange regained 1.82 points to 881.84
All 14 Toronto subgroups were positive to kick off Tuesday, led by a 12.4% strengthening of health-care stocks, while information technology stocks surged 2.1%, and metals and mining hiked 1.7%.
ON WALLSTREET
Wall Street bounced back Thursday as signs of strength in the U.S. economy overshadowed concerns about China's credit problems.
The Dow Jones Industrials added 64.89 points to 14,724.50
The S&P 500 index gained 8.99 points to 1,582.08. The tech-rich NASDAQ Composite turned 8.90 points higher to 3,329.65
After suffering heavy losses in the past few days, investors were encourage to dip back into stocks after a string of upbeat economic reports Thursday.
On the corporate front, shares of Walgreen sank more than 6% after the drugstore chain missed earnings and revenue forecasts.
Barnes & Noble shares plunged after the bookseller said it will stop making the NOOK in-house and will partner with a third party to manufacture the eReading device. Sales in the NOOK segment fell 34% in the quarter to $108 million U.S.
Carnival said earnings fell 55% to nine cents U.S. per share in the second quarter. The beleaguered cruise ship operator warned in May that earnings would suffer this year due to price cuts following the Carnival Triumph mishap. But Carnival's stock rose since earnings were better than expected.
Gun maker Smith & Wesson will release fourth-quarter results after the market closes.
Economically, the S&P/Case-Shiller home price index was up 12.1% in April compared to a year ago for the 20 top real estate markets across the nation. It was the biggest annual jump in prices in seven years and the 2.5% jump from March was the biggest one-month rise in the 12-year history of the index.
In more good news for housing, homebuilder Lennar Corp. reported sales and earnings that topped forecasts. New orders rose 27% in the quarter. Lennar shares were up nearly 4% on the news, while rival homebuilders PulteGroup. Toll Brothers and DR Horton were also higher.
A report on durable goods came in better than expected. The Census Bureau said new orders for big-ticket items rose 3.6% in May. Economists had forecast a 3% rise, according to Briefing.com.
New home sales also topped estimates, rising 2% in May to a seasonally adjusted rate of 476,000 units, according to the U.S. Commerce Department.
Meanwhile, a measure of consumer confidence rose to the highest level since January 2008. The Conference Board's index of consumer confidence for June hit 81.4, up from 74.3 in May. Consumers have been encouraged by improvement in the job market, the business research group said.
Prices for the 10-year U.S. Treasury against tumbled, boosting yields to 2.58% from Monday’s 2.55%. Treasury prices and yields move in opposite directions.
Oil prices stepped back 14 cents to $95.04 U.S. a barrel.
Gold prices regained $1.10 to $1,277.50 U.S. an ounce
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