The Toronto stock market shot higher Wednesday on the back of strength in the energy and gold sectors.
The S&P/TSX composite index jumped 133.99 points to close Wednesday at 14,754.06
The Canadian dollar moved up 0.31 cents to 87.97 cents U.S.
On the TSX, energy stocks rose as Imperial Oil hiked $1.39, or 2.7%, to $53.15, while Suncor boosted 82 cents, or 2.2%, to $37.42
The gold sector also moved up as Barrick Gold hiked 44 cents, or 3.2%, to $14.02, while Agnico Eagle Mines spiked $1.13, or 4.1%, to $28.73.
TSX financials dropped following quarterly results from Royal Bank, which said an improvement in its Canadian operations helped increase its Q4 profit by 11 per cent to $2.33 billion.
Its adjusted earnings of $1.59 per diluted share came in a cent above the average estimate compiled by Thomson Reuters.
Royal Bank shares rose 17 cents to $81.59.
On the economic front, a monthly gauge of the Canadian manufacturing sector held steady at a 12-month high in November. The RBC Canadian PMI remained at 55.3 last month, matching a high point set in November last year and again in October. A measure above 50 indicates the manufacturing sector is expanding.
Bank of Canada Governor Stephen Poloz is keeping the trend-setting interest rate at one per cent, even as Canada's recent economic performance has the look of a "broadening recovery."
In its interest-rate announcement Wednesday, the central bank cautioned that improvements to Canada's economic health have been offset by risks such as sliding oil prices and high household debt.
ON BAYSTREET
The TSX Venture Exchange gained 1.36 points to 721.63
All but three of the 14 Toronto subgroups were higher, with gold leading the way, up 2.9%, materials better by 2.5%, and information technology ahead 1.6%.
The three laggards were consumer staples, down 1.1%, and health-care, 0.7% less hale, and utilities, off 0.1%.
ON WALLSTREET
U.S. stocks rallied into the close, with the Dow and S&P 500 ending the day at records amid encouraging economic reports on Wednesday.
The Dow Jones Industrials gained 33.07 points to conclude Wednesday at 17,912.62
The S&P 500 added 7.78 points to 2,074.33. The NASDAQ index gained 18.66 points to 4,774.47
Abercrombie & Fitch reported a disappointing quarter before Wall Street opened, while Aeropostale was expected to post results after the bell.
Brown-Forman fell after the bourbon producer posted weaker-than-expected second-quarter results.
Johnson & Johnson edged lower on news that the pharmaceutical and packaged consumer goods manufacturer hired Goldman Sachs to explore a sale of its artificial sweetener brand Splenda.
Kraft also declined slightly after the food producer said it will raise prices on most of its single serve coffees in the United States by about 9%.
The ISM services index beat expectations with a leap to a three-month high of 59.3 for November.
Before the open, ADP report on private payrolls showed sector employment is keeping up its recent pace in November, although the 208,000 new jobs was a shade below expectations.
Earlier, stocks held modest gains on the release of the Federal Reserve's Beige Book that said the economy continues to expand.
Prices for 10-year U.S. Treasuries sank, raising yields to 2.29% from Tuesday’s 2.28%. Treasury prices and yields move in opposite directions.
Oil prices took on 52 cents to $67.40 U.S.
Gold prices gained $11.00 at $1,210.40 U.S.
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