Stocks in Toronto charged out of the blocks Tuesday, with consumer staples and metals stocks leading the parade
The S&P/TSX composite index gained 65.89 points to start the session at 15,081.30
The Canadian dollar regained 0.31 cents to 88.95 cents U.S.
Canada's telecom regulator began the last of three major policy reviews on Monday as it seeks to strike a balance between ensuring consumers have broad access to new technologies while avoiding rules that would discourage investment.
Prime Minister Stephen Harper, gearing up for an election next October and taking advantage of improving federal finances, announced $5.8 billion in new spending on Monday.
Canaccord Genuity raised the target price on Callidus Capital to $32 from $31, with a buy rating. Callidus shares docked 30 cents to $21.35.
Barclays starts coverage on PrairieSky Royalty with overweight rating. PrairieSky shares went, well, skyward, 36 cents, or 1%, to $36.87.
PI Financial starts coverage on Richmont Mines with buy rating. Richmont gained seven cents, or 2%, to $3.55.
Economically speaking, Statistics Canada reported this morning that retail sales rose 0.8% in September to $42.8 billion, largely as a result of higher sales at motor vehicle and parts dealers.
The agency says retail sales have been on an upward swing since early this year. Gains were reported in five of 11 sub-sectors, representing 59% of retail trade.
ON BAYSTREET
The TSX Venture Exchange picked up 2.04 points to 789.54.
All but one of the 14 Toronto subgroups were higher to begin the session, with consumer staples and metals and mining as co-leaders, each up 1.3%, while materials surged 0.8%.
The lone laggard was in telecoms, down 0.4%.
ON WALLSTREET
U.S. stocks turned mostly lower on Tuesday, after the S&P 500 hit another peak, after data had the U.S. economy growing more than previously forecast in the third quarter and consumer confidence dipped in November.
The Dow Jones Industrials slid 19.59 points at 17,798.31
The S&P 500 slipped 0.87 points at 2,068.34. The NASDAQ index gained 3.71 points to 4,758.60.
Apple's market capitalization reached $700 billion U.S, a major milestone for CEO Tim Cook as the consumer technology company's value has doubled during his three years at the helm.
Tiffany & Co. shares rose in early New York trading after the jewelry reported earnings and revenue that missed estimates; Campbell Soup gained after posting an earnings and revenue beat.
On things economic, the U.S. Commerce Department reported gross domestic product climbed at a 3.9% annualized rate, up from an initial 3.5% estimate.
Separately, a gauge of home prices in 20 cities climbed at a reduced pace in September
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.29% from Monday’s 2.32%. Treasury prices and yields move in opposite directions.
Oil prices picked up 59 cents to $76.37 U.S.
Gold prices progressed $3.30 to $1,199.00 U.S.
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