The TSX climbed higher Wednesday, as gains in industrials and mining shares continued to grow. Energy stocks narrowing earlier losses also helped lift the index.
The S&P/TSX composite index gained 59.66 points to close Wednesday at 15,110.47
The Canadian dollar fell 0.17 cents to 80.26 cents U.S.
Industrials led the party, on the strength of Air Canada, which received 94 cents worth of lift, or 7.5%, to $13.52. SNC-Lavalin surged $1.12, or 2.6%, to $44.91.
Among metals stocks, Nevsun Resources displayed a lot of pep, gaining 16 cents, or 3.2%, to $5.17, and Major Drilling Group soared 20 cents, or 3.1%, to $6.66. For its part, Carpathian Gold was still the most heavily traded stock, jumping 1.5 cents, or 300%, to two cents, on 25.3 million shares.
In consumer discretionaries, Amaya Inc. ballooned $1.62, or 5%, to $34.22.
Among financials, shares in National Bank hesitated two cents to $49.32, while Bank of Montreal settled six cents to $77.84
Energy shares proved the day’s biggest loser, as Legacy Oil & Gas collapsed 25 cents, or 8.6%, to $2.67, while Lightstream Resources gave back 11 cents, or 8.3%, to $1.21.
The Bank of Canada announced today it is maintaining its target for the overnight rate at 0.75%, and the bank rate is correspondingly 1% and the deposit rate is 0.5%
ON BAYSTREET
The TSX Venture Exchange fell 1.34 points to 690.62
All but two of the 14 Toronto subgroups showed gains on the day, as industrials climbed 1.4%, while metals and mining and consumer discretionary stocks each gained 1.1%.
The two laggards were energy, sliding 0.7%, and information technology, falling back 0.4%.
ON WALLSTREET
U.S. stocks closed higher on Wednesday, recovering from Tuesday's selloff, as encouraging Greece headlines boosted investor sentiment amid a slight pause in the dollar and yield climb.
The Dow Jones Industrials leaped 121.45 points to close at 18.162.99, with Microsoft leading gains and Nike the greatest laggard.
The S&P 500 index picked up 21.33 points to 2,125.53, with information technology leading all sectors except energy higher.
The NASDAQ bolted higher 77.38 points to 5,110.13, to end above its previous closing high of 5,092.09.
Earnings out before the open on Wednesday included Michael Kors, Costco, Tiffany, Toll Brothers, and Movado.
Tiffany earned 81 cents U.S. per share for its latest quarter, 11 cents above estimates, and revenue was also well above forecasts despite the negative effects of a strong dollar. The results follow a downbeat forecast given by Tiffany earlier this year.
Michael Kors fell one cent shy of estimates with quarterly profit of 90 cents U.S. per share, with revenue essentially in line. The company, however, reported its slowest sales growth in three-and-a-half years, and its full-year forecast, however, is below Street estimates.
Toll Brothers earned 37 cents U.S. per share for its latest quarter, two cents above estimates. The luxury home builder did see revenue come in below estimates as the number of homes sold fell two percent.
DSW reported quarterly profit of 53 cents U.S. per share, six cents above estimates, and revenue also was above analyst forecasts. The company's results were led by a jump in athletic footwear sales, though it did see growth in all its major categories.
Prices for 10-year U.S. Treasuries gained slightly, lowering yields to 2.13% from Tuesday’s 2.14%. Treasury prices and yields move in opposite directions.
Oil prices dropped 42 cents a barrel to $57.61 U.S.
Gold prices regained 20 cents to $1,188 U.S. an ounce.
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