Equities in Canada’s biggest market rose for the fourth straight day on Tuesday, led by the financial and energy groups as oil gained, while shares of BlackBerry Ltd climbed after the company reported an adjusted profit that beat expectations.
The S&P/TSX Composite began Tuesday up 39.97 points to 15,309.82
The Canadian dollar dropped 0.33 cents to 74.63 cents U.S.
BlackBerry posted another loss and a 47.3% fall in third-quarter revenue on Tuesday as the software growth it is relying on failed to make up for shrinking handset sales and lost service fees.
The company once known as Research In Motion saw its shares progress 22 cents, or 2.2%, to $10.57.
CCL Industries Inc said it would buy Innovia Group, which supplies the new U.K. plastic five-pound note that has fallen foul of vegetarians, for around $1.13 billion.
CCL shares were unchanged in the first hour of trading at $223.64.
Brazil unveiled a probable challenge against Canadian regional and government funding for Bombardier at the World Trade Organization, reviving a bitter trade feud between the Canadian jetmaker and Brazilian rival Embraer SA.
Bombardier shares docked two cents to $2.17.
CIBC cut the target price on Fairfax Financial Holdings to $650.00 from $725.00. Fairfax shares leaped $17.19, or 2.8%, to $622.19.
CIBC cut the target price on Linamar Corp. to $65.00 from $72.00. Linamar shares lost 51 cents to $58.14.
On the economic beat, Statistics Canada reported that wholesale trade increased 1.1% to $56.6 billion in October, offsetting most of September's 1.5% decrease.
The agency said gains were recorded in five sub-sectors, led by higher sales in the building material and supplies, motor vehicle and parts, and food, beverage and tobacco sub-sectors.
Meantime, the number of Canadians drawing regular employment insurance benefits numbered 575,200 in the same month, down 2,700, or 0.5%, from September.
ON BAYSTREET
The TSX Venture Exchange continued its downward journey, doffing 4.29 points to 716.45
Seven of the 12 TSX subgroups were in the green to begin Tuesday, with information technology up 0.8%, health-care haler by 0.6%, and energy better by 0.5%.
The five laggards were weighed most by gold, slipping 2.1%, while materials gave back 0.5%, and consumer discretionary issues trailed 0.3%.
ON WALLSTREET
U.S. equities traded higher on Tuesday as investors remained unfazed by geopolitical tensions, while the Dow Jones industrial average kept marching toward the unprecedented 20,000-point mark.
The Dow Jones Industrials rumbled higher 84.87 points to open at 19,967.93, with Goldman Sachs contributing the most gains.
The S&P 500 gained 8.08 points to 2,270.61, with financials and telecommunications leading advancers.
The NASDAQ composite index added 26.79 points to 5,484.23, also reaching a new all-time high
There are no major economic data due Tuesday, but investors had several earnings reports to consider, with the likes of Darden Restaurants, General Mills and BlackBerry all having reported before the bell. FedEx and Nike are also scheduled to report after the close.
Analysts expect Dow-component Nike to report earnings per share of 43 cents U.S. on sales of 8.1 billion. FedEx is expected to post profits of $2.90 U.S. per share on revenue of $14.92 billion U.S.
On Monday, the Russian ambassador to Turkey died after being shot by a gunman at an art gallery in the Turkish capital. Meanwhile, in Berlin, a truck ploughed into a crowded Christmas market, killing 12 and injuring 48.
Treasury prices for the 10-year note moved backward, hiking yields to 2.59% from Monday’s 2.53%. Treasury prices and yields move in opposite directions.
Oil prices tallied 43 cents to $52.55 U.S. a barrel
Gold prices dipped $14.60 to $1,128.30 U.S. an ounce.
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