Equities in Toronto rose on Tuesday after a three-session drop as a jump in oil prices pushed up energy shares in a market that otherwise continued to slump.
The S&P/TSX composite index moved solidly into the green 62.62 points to greet noon at 14,805.95
The Canadian dollar spiked 0.60 cents to 81.17 cents U.S.
Metals and mining plays led the parade Tuesday morning, as First Quantum Minerals leaped 80 cents, or 4.7%, to $17.73, and Teck Resources triumphed 52 cents, or 3.7%, to $14.60.
Among higher-flying energy issues, Suncor Energy Inc rose 1.6% to $35.63, Canadian Natural Resources Ltd added 1.8% to $37.22, and Enbridge Inc moved 0.9% higher to $56.80.
The most influential movers on the index included the country's largest telecom, BCE Inc, which fell 1% to $53.83, and Canadian Pacific Railway Ltd, which declined 0.9% to $203.25.
Among miners, First Quantum Minerals Ltd jumped 3.9% to $17.59.
ON BAYSTREET
The TSX Venture Exchange dropped 2.11points to 684.27
Eight of the 14 TSX subgroups took the elevator to the green by noon, most notably metals and mining, ahead 2.1%, energy, 1.6% more energetic, and financials, richer by 0.6%.
The half-dozen laggards were labouring under health-care’s 0.8% plunge, while information technology clicked 0.4% lower, and consumer discretionary stocks eased back 0.3%.
ON WALLSTREET
U.S. stocks traded in a narrow range on Tuesday as higher bond yields weighed and investors sought further insight on the timing of a rate hike from economic data.
The Dow Jones Industrials recovered 24.59 points to stop for noon at 17,791.14, with Caterpillar leading gains and Apple the greatest laggard
The S&P 500 index regained 3.02 points to 2,082.30, with energy leading six sectors higher and information technology leading decliners.
The NASDAQ lost 8.99 points to 5,012.63
Early on Tuesday, yogawear retailer Lululemon Athletica reported that its quarterly profit had more than doubled, thanks to a 6% rise in total comparable-store sales.
After the close, index giant MSCI announces its decision on whether or not to include Chinese A-shares in its emerging market index.
On the economic scene, wholesale inventories showed an increase of 0.4% in April, above expectations of a 0.2% rise.
The Job Openings and Labour Turnover Survey showed 5.376 million job openings in April. The report was expected to show continued strength in the labour market. A strong read would further solidify the case for a September short-term interest rate hike.
U.S. small business confidence increased to a five-month high in May of 98.3, the highest since December, according to the National Federation of Independent Business. .
Prices for 10-year U.S. Treasuries dipped, raising yields to 2.42% from Monday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.85 a barrel to $59.99 U.S.
Gold prices tacked on $3.40 at $1,177.00 U.S. an ounce.
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