The TSX continued through Tuesday’s mid-afternoon session with triple-digit gains, as investors remain hopeful China would move to stimulate the economy after a slew of disappointing data.
The S&P/TSX composite index was positive 152.36 points, or 1.1%, to close Tuesday at 13,630.67
The Canadian dollar gained 0.53 cents to 75.68 cents U.S.
Metals and mining proved the far-and-away winner among the subgroups, as Capstone Mining rocketed six cents, or 9.8%, to 67 cents.
First Quantum Minerals remained the most actively traded stock, gaining $1.37, or 22.1%, to $7.57, on 7.8 million shares.
Industrials also had a good time of it Tuesday, as Black Diamond Group gained 34 cents, or 3.9%, to $9.04, while Stantec Inc. popped 97 cents, or 3.3%, to $30.16.
Financials also fared well, as Canadian Western Bank triumphed 62 cents, or 2.8%, to $22.91, while IGM Financial hiked 94 cents, or 2.7%, to $35.84.
Health-care issues shed strength, even as Valeant Pharmaceuticals moved up $4.37, or 1.4%, to $308.81.
Gold stocks also edged lower as Guyana Goldfields plummeted 19 cents, or 4.7%, to $3.88, while Kinross Gold ducked lower 10 cents, or 4.6%, to $2.08.
ON BAYSTREET
The TSX Venture Exchange remained higher 4.01 points Tuesday to 556.62
All but two of the 14 TSX subgroups were higher on the day, as metals and mining grew 8.6%, global base metals hiked 5.1%, and industrials improved 2.1%
The two laggards were health-care, sliding 2.1%, while gold lost 0.1%.
ON WALLSTREET
U.S. stocks closed more than 2% higher Tuesday, rebounding after a long weekend from their second-worst week for the year as gains in global markets boosted sentiment.
The Dow Jones industrial average improved 390.30 points, or 2.4%, to 16,492.68. General Electric jumped 4% as the greatest blue chip advancer.
GE won European approval Tuesday for a roughly $13.5-billion U.S. acquisition of the power business of France's Alstom. The acquisition is the largest purchase in GE's history and came 16 months after the first announcement.
The S&P 500 climbed 48.16 points, or 2.5%, to 1,969.38, with health-care and information technology leading all 10 sectors higher.
The NASDAQ index leaped 128.01 points, or 2.7%, to 4,811.93. Apple closed about 2.7% higher, helping information technology as the second-best performing S&P 500 sector.
The S&P 500 and NASDAQ closed out of correction territory, or within 10% of their 52-week high.
On matters macroeconomic, the National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose modestly in August, up half a point to 95.9. The gain suggests the economy continued to grow at a steady clip halfway through the third quarter.
Data released Tuesday showed China's dollar-denominated exports declined by 5.5% year-on-year in August, while imports tumbled 13.8%.
On Monday, China's foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing's attempts to halt a slide in the yuan and stabilize financial markets following its surprise move to devalue the currency last month.
Prices for 10-year U.S. Treasuries faltered, raising yields to 2.19% from Friday’s 2.13%. Treasury prices and yields move in opposite directions.
Oil prices slid 16 cents a barrel to $45.89 U.S.
Gold prices grew 50 cents to $1,121.90 U.S. an ounce.
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