The TSX extended its climb through Tuesday’s session as the mining and energy sectors continued to cancel out losses in the info tech group.
The S&P/TSX composite index gained 114.43 points to close Tuesday at 14,904.91, following on triple-digit gains Monday.
The Canadian dollar trailed off 0.14 cents to 81.09 cents U.S.
Metals and mining stocks enjoyed the biggest advances, as First Quantum Minerals leaped 69 cents, or 4.1%., to $17.61, and Teck Resources heightened 49 cents, or 3.7%, to $13.83.
Energy shares fared well, too, as Bankers Petroleum rocketed 20 cents, or 6.8%, to $3.16, and Trican Well Services gained 22 cents, or 5.5%, to $4.24.
BlackBerry may seem to have achieved its goal of bolstering its software licensing business, but the market is questioning the factors that drove a 150% growth in revenues in this segment. The smartphone maker narrowed quarterly losses but recorded a year-over-year drop in overall revenues at the same time.
The company which used to be known as Research In Motion ended the day down 43 cents, or 3.8%, to $10.89
Intermap Technologies was the most actively traded stock, gaining 40 cents, or 615.4%, to 46.5 cents, on 15.1 million shares.
ON BAYSTREET
The TSX Venture Exchange recovered 0.86 points Tuesday to 683.20
All but two of the 14 TSX subgroups were in the green, mostly on the strength of metals and mining stocks (up 2.5%), and their cousins among global base metals (2%). Energy stocks gushed 1.7% higher.
The two laggards were information technology, down 0.6%, and telecoms, off 0.1%.
ON WALLSTREET
U.S. stocks closed mildly higher on Tuesday as investors remained optimistic on the Greece debt talks and eyed continued signs of moderate economic growth.
The Dow Jones Industrials remained positive 24.29 points to close at 18,144.07, with UnitedHealth leading advancers and DuPont the greatest decliner.
The S&P 500 index moved higher 1.30 points to 2,124.15, with utilities leading five sectors lower and telecommunications the greatest gainer.
The NASDAQ regained 5.39 points to improve on Monday’s all-time high close, to 5,159.39
BlackBerry fell 4.2% after the handset maker missed estimates on both the top and bottom lines. However, the firm's tech and software licensing revenue jumped from a year earlier and its adjusted profit margins were also above expectations.
Darden Restaurants closed 0.01% higher—or flat. The Olive Garden parent reported adjusted quarterly profit of $1.08 U.S. per share, 15 cents U.S. above estimates, with revenue also beating. Darden also said it would pursue a spinoff of its real estate assets into a REIT, followed by a leaseback of the properties involved.
AT&T jumped nearly 2.5% after the stock was upgraded to "overweight" from "neutral" at Barclays, which cited the potential positive effects of AT&T's purchase of DirecTV.
The morning's economic data was mixed, with durable goods falling more than expected and the initial read on U.S. Purchasing Managers Index the lowest since October 2013.
U.S. durable goods data for May showed a decline of 1.8%, a greater decline than expected. Ex-transportation, the figure rose 0.5%. The core figure of non-defense capital goods orders excluding aircraft rose 0.4%, reversing a 0.3% decline in April.
The FHFA Housing Price Index showed an increase of 0.3% in April. New home sales rose 2.2% in May to a seven-year high.
Financial data firm Markit said its preliminary U.S. Manufacturing Purchasing Managers' Index declined to 53.4 in June, it lowest since October 2013, from a final May reading of 54. Economists polled by Reuters had forecast the June figure would be 54.2
Prices for 10-year U.S. Treasuries lost more ground, raising yields to 2.41% from Monday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices gained 77 cents a barrel to $61.15 U.S.
Gold prices dulled $7.50 at $1,176.60 U.S. an ounce.
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