Markets in Toronto leaped at the open on Tuesday, catching up with gains in global markets on Monday, and helped by encouraging U.S. and Japanese economic data.
The S&P/TSX Composite Index gained 58.13 points to start off the second half of 2013 at 12,187.24
The Canadian dollar fell 0.55 at 94.72 cents U.S.
Markets in Canada were closed for Canada Day
Barrick Gold Corp. said on Friday it is slowing construction at its Pascua-Lama gold project in South America, as it looks to rein in spending on the severely delayed project, already billions of dollars over budget. Barrick shares dipped 57 cents to $16.03
Thomson Reuters Corp. has agreed to buy the foreign exchange options business of Tradeweb Markets for an undisclosed amount. Thomson Reuters shares took on 19 cents soon after the opening bell to $34.51.
On the economic slate, RBC said its June Canadian Manufacturing Purchasing Managers Index indicated that business sentiment continued to improve in the month with an index reading over 50 at 52.4.
Canada’s biggest bank said that, though the pace of improvement was down from May which had an index reading of 53.2, it represented the second highest reading since September of last year.
ON BAYSTREET
The TSX Venture Exchange added 6.12 points to 887.52
All but four of the 14 Toronto subgroups were higher, led by industrials, gaining 1.1%, while consumer discretionary and global base metal stocks hiked 0.9% each.
The four laggards were weighed mostly by consumer staples, down 0.2%, while materials and gold each trailed 0.1%.
ON WALLSTREET
After kicking off the second half of the year with a strong performance, U.S. investors took a step back Tuesday before finding some traction.
The Dow Jones Industrials gained 45.15 points to 15,020.10
The S&P 500 index took on 5.53 points to 1,620.49. The tech-rich NASDAQ Composite gained 9.85 points to 3,444.34.
U.S. stocks finished with gains Monday, following reports on manufacturing and construction spending that were consistent with a gradually improving economy, but not strong enough to raise concerns about the Federal Reserve reducing its stimulus policies.
Zynga shares rose 10% after the online gaming company announced that CEO Mark Pincus is stepping down. Don Mattrick, the former head of Microsoft's Xbox and gaming division, was named as Zynga's new chief.
Nielsen Holdings shares edged higher following news that the company will join the S&P 500 next week, replacing Sprint Nextel.
Disney extended chairman and CEO Bob Iger's tenure through June 2016. Iger had previously been scheduled to leave his post in April 2015.
Investors are expected to remain cautious until Friday, when the U.S. Labor Department will release the June jobs report. Economists predict the U.S. economy added 155,000 jobs and the unemployment rate fell to 7.5% last month.
Economic data has been in sharper focus recently as investors consider when the Federal Reserve may start pulling back on its bond purchases.
The U.S. Census Bureau was slated to release data on factory orders this morning, while the major U.S. automakers are set to release monthly sales figures throughout the day.
Prices for the 10-year U.S. Treasury inched higher, dropping yields to 2.48% from Monday’s 2.49%. Treasury prices and yields move in opposite directions.
Oil prices added 60 cents to $98.59 U.S. a barrel.
Gold prices slipped $5.30 to $1,250.40 U.S. an ounce.
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