Canada's main stock index rose on Tuesday, helped by solid gains in the energy sector as oil prices recovered and a move higher in shares of Royal Bank of Canada after it avoided the need to set aside additional capital.
The S&P/TSX composite index climbed 92.65 points to greet noon at 13,715.66
The Canadian dollar settled 0.05 cents at 76.30 cents U.S.
The heavyweight energy group climbed, with Canadian Natural Resources Ltd advancing 2% to $31.84 and Cenovus Energy Inc adding 4.9% to $21.47.
Pipeline operator TransCanada Corp was flat at $44.23 after asking the U.S. government to suspend a review of its controversial Keystone XL project.
The most influential gainers on the index also included Royal Bank of Canada, which gained 1.2% to $75.54, compared to a flat financials group overall.
The country's largest bank avoided a widely expected designation from the Financial Stability Board as a global, systemically important bank, which would have forced it to have a higher capital position.
ON BAYSTREET
The TSX Venture Exchange inched up 1.01 points to 540.60.
All but three of the 13 TSX subgroups were higher midday, with metals and mining ascending 3.2%, energy stronger by 3%, and materials climbing 1.4%.
The three laggards were gold, off 0.8%, real-estate, down 0.1%, and consumer discretionaries slumping 0.01%.
ON WALLSTREET
U.S. stocks traded mostly higher Tuesday, attempting to extend November's gains so far, as investors awaited key economic reports and Fed speakers later in the week.
The Dow Jones industrial average climbed 94.6 points to 17,923.36, with Chevron and Visa contributing the most to gains. The index remained in the green for 2015 after closing there Monday for the first time since July 22.
The S&P 500 regained 3.54 points to 2,107.59. Energy rose more than 2% in a second straight day of gains, while the materials sector was the second-best advancer.
The NASDAQ index recovered 12.58 points to 5,139.73, as biotech stocks reversed losses and Apple extended gains to trade more than 1% higher.
Switzerland's biggest bank UBS posted third quarter net profit ahead of expectations but said it was under investigation from authorities concerning accounts relating to FIFA. Shares of the bank fell more than 5.5% in mid-morning U.S. trade.
StanChart announced plans on Tuesday to raise $5.1 billion U.S. in new capital via a rights offer and scrapped its dividend as CEO Bill Winters takes drastic action after swinging to an unexpected loss in the third quarter. The stock declined more than 6.5% in late afternoon London trade.
New orders for U.S. factory goods fell 1% in September, a second-straight month of decline, as the manufacturing sector continues to struggle under the weight of a strong dollar and deep spending cuts by energy companies.
Auto sales for October are due throughout the day.
Prices for 10-year U.S. Treasuries dipped, kicking up yields to 2.21% from Monday’s 2.18%. Treasury prices and yields move in opposite directions.
Oil prices surged $1.08 a barrel to $47.22 U.S.
Gold prices skidded $12.13 to $1,121.71 U.S. an ounce.
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