Shares in Canada’s biggest market were slightly higher on a Tuesday devoid of economic news from this side of the border.
The S&P/TSX composite index improved 15.99 points to open at 14,670.93
The Canadian dollar poked ahead 0.04 cents to 91.83 cents U.S.
Encana Corp, Canada's largest natural-gas producer, said first-quarter operating profit more than doubled, helped by higher gas prices and liquids production. Encana shares added $1.03, or 4.2%, to $25.63
BlackBerry launched a low-cost touchscreen device in Jakarta, the Z3, as the embattled smartphone maker looks to revive sales in emerging markets like Indonesia where its once-fervent following has shriveled. BlackBerry shares tacked on five cents to $8.14.
U.S. Senate Republicans on Monday blocked an energy-efficiency bill backed by manufacturers and environmentalists, forfeiting a chance to vote on TransCanada Corp's long-delayed Keystone XL oil pipeline. TransCanada shares gained 16.5 cents to $51.07.
ON BAYSTREET
The TSX Venture Exchange inched up 0.30 points to 988.56
Nine of the 14 Toronto subgroups were higher in the first hour, as telecoms and materials each added 0.5%, and gold was up 0.4%.
The five laggards were weighed most by consumer staples and utilities, each down 0.3%, and real-estate, off 0.1%.
ON WALLSTREET
U.S. stocks climbed to all-time highs after the opening bell, highlighted by the S&P 500 conquering the 1,900-point threshold for the first time on record.
The Dow Jones Industrial Average gained 31.18 points over yesterday’s all-time high finish, to 16,726.65
The S&P 500 gained 3.34 points to 1,899.99, and the NASDAQ composite index picked up 4.56 points to 4,148.42
But the early enthusiasm was muted a bit by an economic report that showed consumer spending slowed in April. Despite warmer weather in the spring, consumers didn't open up their wallets in April as much as Wall Street had been hoping. U.S. retail sales inched up just 0.1% last month, trailing forecasts for a 0.4% rise.
At the stock level, investors continue to see many power plays. They guzzled down shares of Keurig Green Mountain, which soared 7% after Coca-Cola announced plans to boost its stake in the company to 16%. The move represents a vote of confidence from the world's largest beverage maker and follows an initial 10% stake acquired in February.
The Coke buy also lifted shares of Sodastream International, which is often rumored to be taken over by a large beverage company.
The earnings front is largely quiet, but Fossil, McKesson and Take-Two Interactive are on tap to report results after the closing bell.
Shares of DirecTV rallied 2% on reports that AT&T could quickly clinch a $50-billion U.S. bid to buy the satellite TV company. Rival DISH Network was the worst performer in the NASDAQ 100 Tuesday morning, losing about 3%.
Other NASDAQ stocks struggling in early action include Vodafone, Whole Foods and Netflix
Mergers and acquistions continue to drive a lot of the upbeat cheer on Wall Street. Valeant Pharmaceuticals signaled plans to raise its $46 billion offer to acquire Allergan, which the Botox maker formally rejected on Monday.
Investors will also be focusing on developments in the pharmaceutical industry.
The American drug maker Pfizer wants to buy Britain's AstraZeneca and both CEOs will appear before a U.K. parliamentary committee to answer questions about the potential takeover.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.62% from Monday’s 2.66%. Treasury prices and yields move in opposite directions
Oil prices tacked on 45 cents to $101.04 U.S. a barrel.
Gold prices gained 50 cents to $1,296.30 U.S. an ounce.
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