Stocks in Toronto enjoyed healthy gains Tuesday, even after energy shares reduced their earlier gains. The benchmark index continued to get support from rising commodity prices and upbeat U.S. job openings data.
The S&P/TSX composite index gained 88.19 points to close Tuesday at 15,188.84
The Canadian dollar dropped 0.16 cents to 79.96 cents U.S.
Both Brent crude and copper were still in the green, giving energy and mining stocks a lift. Imperial Oil took on 29 cents to $52.07, and Spartan Energy, which was ahead eight cents, or 2.6%, was the most heavily traded stock, closing at $3.18.
Among miners, Sherritt International added two cents to $2.24, while Teck Resources dipped three cents to $17.37.
But among sectors, info tech advanced the most, with constituent BlackBerry up a penny to $11.66.
Health-care trimmed its gains, as Valeant Pharmaceuticals gained $2.09 to $248.75, and industrials came off its peak, as Bombardier Inc. took on six cents to $2.62
Financials firmed as Royal Bank gained 70 cents to $77.77, and Scotiabank acquired 62 cents to $63.76.
ON BAYSTREET
The TSX Venture Exchange gained 0.91 points to 689.57
In all, nine of the 14 Toronto subgroups were higher, as information technology climbed 2.2%, energy stocks were 1.4% more energetic, and consumer staples gained 1%.
The five laggards were weighed mostly by gold, down 1.7%, materials, down 0.6%, and real-estate, slumping 0.3%.
ON WALLSTREET
U.S. stocks pared gains to trade narrowly mixed in late trade on Tuesday as investors eyed oil price movements and renewed dollar strength ahead of the unofficial beginning of earnings season on Wednesday.
The Dow Jones Industrials dipped 5.43 points to end the session at 17,875.42, with Chevron leading advancers and American Express the greatest laggard.
The S&P 500 index fell 3.91 points to 2,076.71, with health-care leading eight sectors higher and utilities and telecommunications the only laggards.
The NASDAQ index slouched 5.19 points to 4,912.13.
Earnings expected on Tuesday include Dave & Buster's after the bell. Alcoa posts results after the bell on Wednesday in the unofficial start to the earnings season.
FedEx will buy Europe's TNT Express for $4.8 billion U.S., pending regulatory approval. That approval was not forthcoming two years ago when FedEx competitor UPS tried to buy TNT but was rebuffed by competition officials.
Starbucks will expand its college tuition assistance program to cover the total cost of an online bachelor's degree.
Intel will change its financial reporting structure, effective on the presentation of its fiscal first quarter results on April 14. The changes reflect the combination of the chip maker's PC Client Group and Mobile and Communications Group to form its new Client and
Computing Group.
Viacom announced a realignment that will result in a new structure, job cuts, and a $785-million U.S. pre-tax charge for the second quarter.
Stateside, the Job Openings and Labor Turnover Survey (JOLTS) showed there were 5.1 million job openings on the last business day of February, little changed from the prior month, the U.S. Bureau of Labor Statistics reported on Tuesday.
The number of quits and hires were about the same in February as they were in January.
Prices for 10-year U.S. Treasuries gained back lost ground, lowering yields to 1.89% from Monday’s 1.90%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.65 to $53.79 U.S.
Gold prices dropped eight dollars to $1,210.60 U.S.
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