Stocks in Toronto opened the week with positive vibes, as gains in health-care stocks just about offset slumps in metal plays.
The S&P/TSX composite index gained 41.65 points to open the day and a short week at 15,149.77
The Canadian dollar dropped half a cent to 81.74 cents U.S.
Markets in Canada were closed Monday for Victoria Day.
Health-care issues led gainers, as Valeant Pharmaceuticals progressed $7.22, or 2.7%, to $277.24.
Online gambling company GVC Holdings Plc said its bid to buy bigger rival Bwin.Party Digital Entertainment Plc would jointly be financed by Canada's Amaya Inc., whose shares hiked 39 cents, or 1.2%, to $32.71.
Bombardier said on Monday that its business aircraft president, Eric Martel, would leave the company and be succeeded by David Coleal, the latest in a series of management changes. Bombardier shares responded to the news by retreating 6.5 cents, or 2.4%, to $2.62.
National Bank Financial cut the price target on Crombie REIT to $15.00 from $15.25. Crombie units eked up a penny to $12.94.
National Bank Financial raised the price target on Medical Facilities to $16.50 from $15.50. Medical Facilities shares took on 25 cents, or 1.5%, to $17.45.
ON BAYSTREET
The TSX Venture Exchange advanced 1.46 points to 696.77
The 14 Toronto subgroups were divided equally between gainers and losers, as health-care moved higher 2%, information technology clicked 1% better, and financials were 0.8% richer.
The seven laggards were weighed mostly by global base metals, down 2.5%, energy, off 1.1%, and gold, down 0.5%.
ON WALLSTREET
U.S. stocks traded in a narrow range on Tuesday, trying to build off positive momentum from Europe and a record close a day earlier while investors kept an eye on rising yields and dollar strengthening.
The Dow Jones Industrials dumped 13.28 points to 18,285.60, with American Express leading gains and Wal-Mart the greatest laggard.
The S&P 500 index lost 2.34 points to 2,126.86, with energy leading seven sectors lower and financials the greatest advancer.
The NASDAQ fell 3.86 points to 5,074.58
The Dow Jones industrial average and the S&P 500 closed at records on Monday after setting new intraday highs.
Major earnings on Tuesday include Home Depot, Wal-Mart, Dick's Sporting Goods, TJX Companies and Red Robin Gourmet Burgers before market open. Autodesk is due after the bell.
Home Depot reported adjusted quarterly profit of $1.16 U.S. per share, one cent above estimates, with revenue also above forecasts. Same-store sales were also better than expected, and Home Depot raised its full-year earnings and sales forecasts.
Wal-Mart earned an adjusted $1.03 U.S. per share for the first quarter, one cent below estimates, with revenue also below forecasts. Comparable-store sales also registered a lower-than-expected increase for the quarter.
Dick's Sporting Goods beat estimates by four cents with quarterly profit of 57 cents U.S. per share, with revenue essentially in line.
However, its comparable-store sales increase of 1% was shy of the 1.5% consensus. The company also raised the low end of its full-year earnings guidance.
Investors also cheered better-than-expected housing data, which showed April's housing starts totaled 1.135 million in April, above the 1.020 million estimate. The beat follows weak readings of little above 900,000 in February and March.
Prices for 10-year U.S. Treasuries dropped sharply, lifting yields to 2.29% from Monday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices let go of $1.12 a barrel to $58.31 U.S.
Gold prices fell $14.10 to $1,213.50 U.S. an ounce.
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