Stock markets enjoyed a mildly higher open on Tuesday, as after a report ignited expectations of an imminent bailout request from Spain, thus diminishing euro-zone worries.
The S&P/TSX composite index gained 19.64 points to begin Tuesday at 12,389.83
The Canadian dollar moved down 0.05 cents early Tuesday to 101.78 cents U.S.
The most vocal union at Air Canada registered on Monday only minor concerns about the airline's request for more government relief on pension deficit payments, and indicated it could make a decision in coming days on whether to support the bid. Air Canada shares crept up two cents to $1.34
Canadian Oil Sands Ltd., which is the largest-interest owner of the Syncrude project, said that operation produced an average of 318,900 barrels a day in September from 359,500 bpd in August, a fall of about 11.3%. Oil Sands shares perked a dozen cents to $20.77
Canadian Pacific Railway Ltd said chief operations officer Mike Franczak resigned effective immediately, the latest top executive to leave the firm. Stock in the rail carrier hiked 88 cents to $83.52
ON BAYSTREET
The TSX Venture Exchange fought its way higher by 0.61 points to 1,339.31
All but two of the 14 Toronto subgroups were higher in the session’s first hour, led by information technology stocks, up 0.8%, global base metals, ahead 0.7%, and industrials, advancing 0.6%.
The two laggards were materials and gold, each down 0.3%.
ON WALLSTREET
U.S. stocks were decidedly mixed at the open Tuesday as investors remain cautious about the global economy.
The Dow Jones Industrial average dipped 3.38 points to start the session at 13,511.70
The S&P 500 gained 4.86 points, however, to 1,449.35, while the tech-rich Nasdaq also moved forward 8.88 points to 3,122.41
American automakers began releasing September sales figures. The first was Chrysler, which reported a 12% year-over-year increase in U.S. sales last month. It was also the best September sales since 2007.
Shares of clothing retailer Express sank nearly 18% after the company lowered its third-quarter expectations. CEO Michael Weiss blamed "an abrupt change in traffic" of shoppers in September.
A judge ruled Monday that Samsung should be allowed to sell its Galaxy Tab 10.1 tablet computer in the United States, the latest development in a long-running patent dispute between the electronics maker and Apple
Worries about the Spain and Greece remain in the spotlight. European markets ticked higher in afternoon trading despite concerns about the health of Spain's banks and possibility of a bailout.
Moody's Investors Service said late Monday that Spain's banks may face a greater capital shortfall than the government estimated last week. Greece also remains a worry as leaders struggle to meet the conditions of that nation's bailout agreement.
The price on the benchmark 10-year U.S. Treasury slumped, raising yields to 1.64% from Monday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices added 16 cents to $92.64 U.S. a barrel.
Gold prices fell $3.60 to $1,781.90 U.S. an ounce.
