TSX Starts Short Week on Up Note

CN, Cineplex in Spotlight

Canada's main stock index opened higher on Tuesday, led by gains in shares of precious metal miners as gold prices touched near 10-month highs.

The S&P/TSX Composite Index took on 28.03 points to begin a short week Tuesday at 15,866.27

The Canadian dollar shed 0.21 cents at 75.34 cents U.S.

Markets in Canada were shuttered Monday for Family Day

Gerald Butts, a top aide to Prime Minister Justin Trudeau, resigned unexpectedly on Monday amid allegations Trudeau's office had pressured the former justice minister to help construction firm SNC-Lavalin Group Inc avoid criminal prosecution.

Meantime, shares in the construction giant eked up nine cents to $33.97.

Foreign Minister Chrystia Freeland said on Saturday she had made clear in a meeting with U.S. House of Representatives Speaker Nancy Pelosi at the Munich Security Conference the importance of the U.S. lifting tariffs on steel and aluminum imports from Canada.

A Canadian National Railway train derailed early on Saturday in Western Canada, leaking an undetermined volume of crude oil.

CN shares nosed up 11 cents to $111.49.

CIBC cut the price target on Cineplex to $30.00 from $33.00. Cineplex shares gained 19 cents to $25.33.

CIBC raised the target price on Fairfax Financial Holdings to $725.00 from $700.00. Fairfax leaped $6.80, or 1%, to $657.94

CIBC raised the price target on Toromont Industries to $70.00 from $64.00. Toromont shares gained $2.92, or 4.5%, to $68.45.

ON BAYSTREET

The TSX Venture Exchange gained 2.49 points to 618.42

All but three of the 12 TSX subgroups started off the session higher, as gold shone 2% brighter, materials were stronger by 1.2%, and information technology clicking 1% better.

The three laggards were health-care, down 0.7%, while financials and utilities, each off 0.1%.

ON WALLSTREET

Stocks were flat on Tuesday as investors took a breather following solid gains in the previous session.

The Dow Jones Industrials dipped 12.43 points in Tuesday’s first hour of trade to 25,870.82, as losses in J.P. Morgan Chase offset a gain in WalMart.

The S&P 500 notched forward 1.58 points to 2,777.18

The NASDAQ Composite gained 9.48 points to 7,481.89

WalMart shares rose more than 3% after the company reported better-than-expected earnings. The retailer also said e-commerce sales grew by 43% in the previous quarter.

Talks between the U.S. and China are set to continue this week in Washington. Both countries have until early March to come up with a deal. Otherwise, additional U.S. tariffs on Chinese products could take effect. President Donald Trump indicated recently, however, he would be willing to push back the deadline.

Prices for the benchmark 10-year U.S. Treasury gained a bit, lowering yields to 2.65% from Friday’s 2.66%. Treasury prices and yields move in opposite directions.

Oil prices gathered 29 cents to $55.88 U.S. a barrel.

Gold prices strengthened $16.00 to $1,338.10 U.S. an ounce.