Canada's main stock index rose on Tuesday as a decline in Bank of Montreal shares after the lender's quarterly results disappointed the market was offset by strength in the oil and gas sector.
The S&P/TSX composite index regained 54.82 points to greet noon at 14,680.14
The Canadian dollar faded 0.53 cents to 87.75 cents U.S.
BMO shares shed $1.89, or 2.3% to $81.40, after "The First Canadian Bank" reported a weaker-than-expected fourth-quarter profit. The slide helped undercut other stocks in the benchmark index's financial sector.
Oil and gas shares shrugged off sharp movement in oil prices, which took a hit after a surge the previous session. Both oil prices and energy shares have declined significantly since the Organization of the Petroleum Exporting Countries decided last week not to cut production.
The index's energy sector has lost about a third of its value since the middle of June.
Among oil and gas shares, Suncor Energy advanced 59 cents, or 1.6% to $37.07, and Canadian Natural Resources added 47 cents, or 1.2% to $38.88.
The gold-mining sector dropped, mirroring a similar fall in the bullion price. Barrick Gold gave back 14 cents, or 1%, to $13.93, and Goldcorp lost 31 cents, or 1.3%, to $23.75.
The metals sector was stronger, with Turquoise Hill Resources leading the pack, up 26 cents, or 7.4%, to $3.79. The telecom sector went the other way, as Telus dipped $1.29, or 3%, to $41.96.
ON BAYSTREET
The TSX Venture Exchange regained 1.01 points to 726.03
Eight of the 14 Toronto subgroups were lower, as telecoms faded 1.4%, financials docked 0.7%, and gold lost 0.4%.
The half-dozen gainers were led by metals and mining, darting up 3.3%, energy, up 1.7%, and global base metals, ahead 1.4%.
ON WALLSTREET
U.S. stocks rose on Tuesday, rebounding from the prior day's drop, as investors considered better-than-expected November sales from Ford Motor, General Motors and Fiat Chrysler.
The Dow Jones Industrials gained 64.76 points by midday Tuesday to 17,841.56, with Chevron and Exxon Mobil lately leading blue-chip gains that extended to 22 of 30 components.
The S&P 500 tallied 9.48 points to 2,062.92. The NASDAQ index regained 23.11 points to 4,750.46
BP climbed on unconfirmed talk of a takeover bid for the U.K. energy company from Royal Dutch Shell
RadioShack fell as the electronics retailer rejected claims it had breached covenants on a term loan from Harbinger Group unit Salus Capital Partners.
Apple reversed course, halting losses that followed its largest single-day decline since September. Opening statements were set to begin Tuesday in a federal case involving allegations the supplier of consumer technology abused a monopoly position in the digital music player market.
Stocks maintained gains after the U.S. Commerce Department reported construction spending rose 1.1% in October.
Prices for 10-year U.S. Treasuries withered, raising yields to 2.27% from Monday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices gave back $1.06 to $67.94 U.S.
Gold prices fell $19.60 at $1,198.50 U.S.
Related Stories
