Equities in Toronto recovered lost ground Tuesday, as higher oil prices supported energy stocks, while financials also rallied.
The S&P/TSX Composite Index leaped 109.97 points to open Tuesday at 13,673.81
The Canadian dollar gained back 0.15 cents to 77.3 cents U.S.
Japanese oil refiner Idemitsu Kosan said on Tuesday its joint venture with Canada's AltaGas would suspend a liquefied natural gas project in Canada for the foreseeable future due to low energy prices.
AltaGas began Tuesday up 35 cents, or 1.2%, to $29.43.
TMX Group, which owns and operates the Toronto Stock Exchange, posted a 9% rise in quarterly profit late on Monday, helped by lower operating expenses.
TMX shares inched up six cents to $51.85.
Canaccord Genuity raised the rating on Athabasca Oil to buy from hold. Athabasca shares gained 4.5 cents, or 4.3%, to $1.10.
Desjardins raised the target price on Raging River Exploration to $12.00 from $11.50. Raging River shares climbed 25 cents, or 2.6%, to $10.06.
ON BAYSTREET
The TSX Venture Exchange eked up 0.46 points to 657.88.
All but two of the 13 TSX subgroups were ahead, with energy ballooning 2%, metals and mining 1.4% stronger, and financials richer by 0.9%.
The two laggards were health-care, off 1.1%, and gold, sliding 0.3%.
ON WALLSTREET
Stocks south of the line traded higher Tuesday, helped by weakness in the yen against the dollar and stabilization in oil prices.
The Dow Jones Industrials hiked 132.9 points to 17,838.81, with United Technologies leading advancers and Pfizer the greatest decliner.
The S&P 500 added 14.98 points to 2,073.67. Energy traded more than 1% higher to lead all S&P 500 sectors higher.
The NASDAQ Composite Index was positive 15.75 points to 4,765.96
In economic news, wholesale trade and JOLTS were both due at 10 a.m. ET.
The National Federation of Independent Business' small business optimism index rose for the first time this year, up one point from a two-year low in March to 93.6 in April. The figure remained below the 100 reading in December 2014 and its 42-year average of 98.
Prices for the 10-year Treasury slipped, raising yields to 1.76% from Monday’s 1.75%. Treasury prices and yields move in opposite directions
Oil prices added 78 cents a barrel to $44.22 U.S.
Gold prices lost $1.56 to $1,262.32 U.S. an ounce.
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