Equities in Canada’s biggest centre shook off a lot of negative vibes, as investors piled into major gold miners in reaction to a shock victory for Republican Donald Trump in the U.S. presidential election.
The S&P/TSX Composite ballooned 115.71 points to greet noon at 14,772.55
The Canadian dollar remained negative 0.73 cents, to 74.51 cents U.S.
Gold stocks triumphed, particularly Goldcorp, jumping $1.09, or 5.6%, to $20.74. Barrick Gold gained 68 cents, or 3%, to $23.53.
Elsewhere in the mining sector, HudBay Minerals has suspended operations at its Constancia copper mine in Peru after "trespassers" from a nearby highland town occupied the open pit area. The decision was necessary to ensure the safety of employees and the people in the mine site.
HudBay shares gained 17 cents, or 2.4%, by noon hour to $7.27.
Energy stocks moved higher, too, as Imperial Oil climbed 53 cents, or 1.2%, to $44.01, and Precision Drilling gushed 34 cents, or 6%, to $6.05.
ON BAYSTREET
The TSX Venture Exchange inched up 1.64 points to 758.49
Eight of the 12 TSX subgroups were positive, with gold shining 4.9% brighter, materials stronger by 3.4%, and energy chugging along 2.2%
The four laggards were consumer discretionary, off 1.1%, utilities, fading 0.5%, and telecoms sliding 0.3%.
ON WALLSTREET
U.S. equities rose Wednesday after a stunning victory by Republican Donald Trump over Hillary Clinton sent markets for a wild ride.
The Dow Jones Industrials accelerated 167.34 points to 18,500.08, with Pfizer leading advancers and Coca-Cola the top decliner.
The S&P 500 gained 15.04 points at 2,154.60, after falling initially, with financials and health-care leading advancers.
The NASDAQ composite index bolted higher 32.27 points to 5,225.69
Trump shocked the world by beating Clinton in the race for the White House. Trump's success was only part of a larger, crushing victory for the Republican Party, which retained the House and appeared poised to maintain Senate control.
Investors also began adding exposure to health-care and defense stocks, both of which saw significant pressure heading into the election, since Clinton was the favourite to win.
Prices for the 10-year Treasury collapsed, sending yields sharply upward to 2.02% from Tuesday’s 1.87%. Treasury prices and yields move in opposite directions.
Oil prices reacquired 68 cents to $45.66 U.S. a barrel
Gold prices moved upward $1.50 to $1,276.00 U.S. an ounce.
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