Canada's main stock index climbed for a fourth straight session on Tuesday as natural resource shares rose on the back of higher commodity prices and investors digested data showing slower yet better-than-expected economic growth in China.
The S&P/TSX composite index exploded 209.94 points, or 1.5%, to finish out the day at 14,547.71
The Canadian dollar moved higher 0.46 cents at 89.07 cents U.S.
The benchmark TSX has rebounded nearly 6% since hitting an eight-month low last week, and hit a one-week high on Tuesday.
Shares of energy producers jumped as Canadian Natural Resources added 2.2% to $39.09, and Suncor Energy climbed 2% to $38.86.
The materials sector, which includes mining stocks, advanced as Teck Resources rose 3.1% to $18.07, and Potash Corporation was up 0.7% at $36.93.
Canadian Pacific Railway Ltd gained 1.3% to $224.58. The carrier reported higher third-quarter earnings and revenue but the results fell short of analysts' expectations.
ON BAYSTREET
The TSX Venture Exchange spiked 10.93 points to 822.28.
All but one of the 14 Toronto subgroups were higher on the day, with metals and mining sprinting 3.1%, health-care advancing 2.5%, and consumer discretionary stocks zooming 2.3%.
Only gold kept things from being unanimous, losing 0.9%.
ON WALLSTREET
U.S. stocks rallied on Tuesday, with the S&P 500 on track for a fourth straight session of gains boosted by strong corporate results, including Apple's.
The Dow Jones Industrials raced ahead 215.14 points, or 1.3%, to 16,614.81.
The S&P 500 gained 37.27 points, or nearly 2%, to 1,941.28. The NASDAQ index gained 103.41 points, or 2.4%, to 4,419.48.
Apple Inc rose 2.6% to $102.39 U.S. a day after revenue topped expectations, helped by strong iPhone sales. It also gave a strong outlook for the holiday quarter.
The largest percentage gainer and decliner on the S&P 500 were both related to earnings. The largest gainer on the S&P 500 was Waters Corp., which rose 8.7%, while the largest decliner was Chipotle, down 6.7%.
The largest percentage gainer on the NASDAQ 100 was Illumina Inc., which rose 9.3%, while the largest percentage decliner was Starbucks down 0.3%.
In the sole item of economic news, sales of existing homes rose in September, hitting the fastest pace in one year and rebounding from an unexpected drop in August, the National Association of Realtors reported Tuesday. The annual rate of 5.17 million was better than expected.
Prices for 10-year U.S. Treasuries slid, raising yields to 2.21% from Monday’s 2.17%. Treasury prices and yields move in opposite directions.
Oil prices regained 54 cents to $83.25 U.S. a barrel.
Gold prices gained $3.50 to $1,248.20 U.S. an ounce.
Related Stories
