Traders celebrated the beginning of February by chucking their losing streak, driving indices higher by buying up materials and energy stocks.
The S&P/TSX Composite gained 16.43 points to finish Wednesday at 15,402.39.
The Canadian dollar hesitated 0.05 cents at 76.64 cents U.S.
Cameco fell $1.86, or 11.2% to $14.71 after Tokyo Electric Power, the operator of Japan's wrecked Fukushima nuclear plant, scrapped a uranium supply contract worth about $1.3 billion.
Kelt Exploration gained 13 cents, or 2.1%, to $6.42, while Potash Corporation of Saskatchewan nosed up two cents to $24.23.
Ritchie Bros. Auctioneers dropped three cents to $42.15.
In the energy sector, Baytex Energy eked up three cents to $5.22, while Suncor Energy gained 14 cents to $40.50.
Utilities went the other way, however, with Hydro One sank 34 cents, or 1.4%, to $23.71, while Fortis Inc. dipped 41 cents, or nearly 1% to $41.43.
Health-care stocks also dropped, with Valeant Pharmaceuticals shares sliding eight cents to $17.87.
BCE Inc slipped 0.5% to $58.39. The telecom company's Bell Media unit said on Tuesday it is reducing its radio and television industry workforce in more than two dozen locations across the country by an unspecified number.
On the economic beat, Markit Canada reported Wednesday morning its seasonally-adjusted Manufacturing Purchasing Managers’ Index registered 53.5 in January, up from 51.8 in December and above the neutral 50.0 threshold for the 11th straight month.
ON BAYSTREET
The TSX Venture Exchange vaulted 6.56 points to 813.90
The 12 subgroups were evenly split on the day, as materials jumped 0.9%, consumer discretionary stocks gained 0.5%, and energy took on 0.3%.
The half-dozen laggards were weighed by utilities, off 0.8%, while health-care and consumer staples each sank 0.6%.
ON WALLSTREET
U.S. equities traded mixed on Wednesday after the Federal Reserve kept interest rates unchanged, as was widely expected.
The Dow Jones Industrials gained 26.85 points to 19,890.94, with Apple the biggest advancer and United Technologies leading decliners.
The S&P 500 eked out a gain of 0.68 points to 2,279.65, with utilities falling 1% to lead decliners and tech outperforming.
The NASDAQ grew 27.86 points to 5,642.65, as Apple spiked around 7%.
On the earnings front, Dow component Apple reported better-than-expected quarterly results Tuesday after the close, as the firm said it sold more expensive iPhones. However, its future guidance came in at the lower end of expectations. The stock rose more than 5.5% in midday trade.
Companies reporting before the bell Wednesday included ADP, Johnson Controls and Altria, with all three topping bottom-line expectations, but reporting lighter-than-expected sales. Facebook and MetLife are both scheduled to report Wednesday after the close.
The Federal Open Market Committee — the central bank's policy-making arm — kept its benchmark overnight lending rate target at 0.5% to 0.75%. Ahead of the announcement, market expectations for a rate hike were just 4%.
In economic news, the latest report from ADP and Moody's showed private companies added 246,000 jobs in January, well above the expected 165,000. January also turned in the best single-month performance since June.
Other data released Wednesday included the IHS Markit Manufacturing index's final read for January, which showed the strongest manufacturing production growth for almost two years.
The Institute for Supply Management Manufacturing index for January came in at 56, above an expected read of 55. December construction spending fell 0.2%, while economist had forecast a gain of 0.4%.
Prices for the benchmark 10-year Treasury note lost strength, picking yields up to 2.48%, from Tuesday’s 2.45%. Treasury prices and yields move in opposite directions.
Oil prices added 72 cents to $53.53 U.S. a barrel
Gold prices dropped 90 cents to $1,210.50 U.S. an ounce.
