Canada's benchmark stock index inched higher on Tuesday, with utilities leading gains, as a pullback in global bond yields and easing oil prices supported sentiment, although weakness in energy and mining shares capped advances.
The TSX Composite Index gained 33.56 points to open Tuesday at 35,552.11
The Canadian dollar inched higher 0.11 cents to 70.22 cents U.S.
Emera said it would acquire Canadian Utilities in an all-stock deal worth $14.3 billion, creating one of Canada's largest utilities. Canadian Utilities dipped 16 cents to $51.03.
Emera fell $1.82, or 2.6%, to $66.48, while Canadian Utilities inched higher marginally. ATCO jumped $7.42, or 10%, to $81.60 after saying it would spin off into a standalone publicly traded industrial services company called New ATCO.
Jamieson Wellness received final court approval for its pending acquisition by Kirin Holdings.
Jamieson shares handed over four cents to $45.44.
On the political front, the separatist Parti Quebecois narrowly won Quebec's election on Monday, a result that could make it tougher for Prime Minister Mark Carney to maintain national unity amid a trade deal dispute with the U.S.
On the economic landscape, Canada's merchandise exports rose 2.5% in August, while imports were down 2.0%. As a result, Canada's merchandise trade surplus with the world widened from $787 million in July to $4.2 billion in August. This was the sixth consecutive monthly trade surplus.
The IVEY Purchasing Managers Index decreased to 58.2 in September from 64.3 in August.
ON BAYSTREET
The TSX Venture Exchange edged 3.21 points higher to 881.79
The 12 subgroups were evenly split, with telecoms and utilities each up 0.7%, while real-estate gained 0.4%.
The half-dozen laggards were co-weighed by gold and materials, down 1% each, while energy moved backward 0.8%.
ON WALLSTREET
The S&P 500 rose to a fresh all-time intraday high on Tuesday, boosted by gains in key technology names as well as declines in oil prices and Treasury yields.
The Dow Jones Industrials charged ahead 252.73 points to 51,520.63
The broader index gained 46.92 points to 7,820.87.
The NASDAQ Composite popped 177.80 points to 27,655.11.
The moves higher were bolstered by a rise in chipmakers. Shares of Marvell Technology popped 7%, while others such as Nvidia and Broadcom traded up around 1% each.
Prices for the 10-year Treasury slipped, bringing yields up to 5.29% from Monday’s 5.31%. Treasury prices and yields move in opposite directions.
Oil prices eased $1.42 to $88.01 U.S. a barrel.
Gold prices grabbed $17.20 to $4,174 U.S. an ounce.
