Stocks were mildly positive at Tuesday’s open in Toronto, as investors awaited comments from U.S. Federal Reserve Chair Janet Yellen Tuesday.
The S&P/TSX composite index gained 44.01 points to open trading at 15,244.27
The Canadian dollar faded 0.31 cents to 79.24 cents U.S.
Husky Energy, Canada's number-three integrated oil company, said it filed a shelf offering to raise up to $3 billion. Husky shares took on 18 cents to $28.76.
Agrium reported a better-than-expected fourth-quarter profit helped by higher prices for most grains and oilseeds. Agrium shares vaulted $1.28, or 1.8%, to $139.78.
Onex Corp. is looking to sell Sitel Worldwide Corp in a deal that could value one of the world's largest call center operators at close to $1 billion, including debt. Onex dipped 23 cents to $70.08.
Raymond James cut the rating on Artek Exploration to market perform from outperform. Artek shares nicked up two cents to $2.63.
Numis cut the price target on Timmins Gold to $1.60 from $1.90, with a buy rating. Timmins Gold was down three cents to $1.01.
NBF raised the price target on Kelt Exploration to $10.50 from $9.00 with an outperform rating. Kelt shares climbed 15 cents to $7.89.
ON BAYSTREET
The TSX Venture Exchange dropped 0.19 points to 692.04
All but three of the 14 Toronto subgroups were positive in the first hour, with global base metals spiking 2.7%, metals and mining stronger by 2.5%, and energy stocks gushing 1.3%
The three laggards were gold, down 0.6%, financials, listing lower 0.4%, and real-estate, off 0.2%.
ON WALLSTREET
U.S. stocks traded narrowly mixed at records on Tuesday as the first of Fed Chair Janet Yellen's two-day congressional testimonies began.
The Dow Jones Industrials opened higher 22.09 points to 18,138.93, with Home Depot leading gains and Verizon the greatest laggard.
The S&P 500 dipped 1.46 points to 2,108.20, with consumer discretionary leading three sector gains and telecommunications the greatest laggard
The NASDAQ index faded 11.85 points to 4,949.12.
Home Depot posted fourth-quarter earnings that beat expectations, with ex-items earnings of $1.00 U.S. per share, up from 73 cents U.S. a share in the year-earlier period. Revenue increased to $19.2 billion U.S. from $17.7 billion U.S. a year ago. Same-store sales rose 7.9% in the quarter.
On the data front, the S&P/Case-Shiller composite index of home prices in 20 cities increased by 4.5% in December from the same period last year.
The release of February's consumer confidence index later this morning will be of interest, with expectations for a retreat from the previous month's post-crisis high.
Yellen addresses the Senate Banking, Housing and Urban Affairs Committee on Tuesday and the House Financial Services Committee on Wednesday.
Yellen's prepared remarks said no rate hike is expected for the next few Federal Open Market Committee meetings.
Prices for 10-year U.S. Treasuries were down slightly, raising yields to 2.07% from Monday’s 2.06%. Treasury prices and yields move in opposite directions.
Oil prices acquired 62 cents per barrel to $50.07 U.S.
Gold prices demurred three dollars an ounce to $1,197.80 U.S.
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