The Toronto stock market is higher amid data indicating the euro-zone economy is improving and that BlackBerry’s new Z10 smartphone is getting a positive reception.
The S&P/TSX composite index rose 27.03points to 12,744.65 while the Canadian dollar hiked 0.06 of a cent to 100.19 cents U.S.
BlackBerry shares were up 61 cents, or 4.1% at $15.60 on the TSX as the new touchscreen device went on sale in Canada. It went on sale in the U.K. last week but won’t be available in the U.S. until mid-March.
Markit, a financial information group, said its purchasing managers’ index for the eurozone economy rose to a 10-month high of 48.6 in January from 47.2 in December.
ON BAYSTREET
The TSX Venture Exchange is ahead 1.95 points to 1,218.46
All 14 Toronto subgroups were higher to begin the day, led by information technology issues, up 2.6%, while telecoms were up 0.8% and industrials hiked 0.7%.
ON WALLSTREET
One day after a massive selloff, stocks rose Tuesday, with the Dow pushing back toward 14,000, as investors turned their attention to corporate news.
The Dow Jones Industrials rallied 104.18 points to begin Tuesday at 13,984.26
The S&P 500 jumped 12.35 points to 1,508.06, while the tech-rich NASDAQ Composite Index climbed 25.20 points to 3,156.37.
All 30 Dow components were higher, led by Bank of America and Boeing, which hopes the Federal Aviation Administration will allow Dreamliner test flights to find the source of the aircraft's issues.
The highly anticipated announcement of a $24.4-billion U.S. leveraged buyout of computer maker Dell also helped market momentum Tuesday. The deal, if completed, would be one of the largest LBOs ever.
The one key economic report Tuesday --The Institute for Supply Management's monthly services sector index -- came in slightly below expectations, but investors shrugged that off and kept buying stocks.
Shares of U.K. cable operator Virgin Media rallied 16%, making it the biggest gainer on the Nasdaq. The company confirmed it has been approached by media billionaire John Malone'sLiberty Global about apossible deal.
Investors also had a slew of earnings to pore into.
BP kicked off the day with results noting the company paid out billions in fines to the U.S. government, yet shares rose more than 1%,
UBS, meanwhile, posted a $2-billion U.S. loss driven by Libor fines. The Swiss banking giant also reported it is capping its largest bonuses at $1.1 million U.S., half the previous cap. Shares fell nearly 1%.
Shares of Yum! Brands sank 4%, a day after the restaurant operator said it expected earnings to fall in 2013 based on its recent struggles in China.
Mastemarcard shares rose more than 1% after the company announced it will start a new stock repurchase program and double its quarterly cash dividends to 60 cents U.S. per share.
Shares of J.C. Penney were up slightly, after the retailer filed a lawsuit to protect itself from having nearly $3 billion U.S. in debt come due in the next few months.
Baidu shares also tumbled nearly 10% on analysts' worries about the company's rising costs.
Disney and Zynga are on tap to report after the closing bell.
The price on the 10-year Tresaury fell a bit, boosting yields to 2.02% from Monday's 2%. Treasury prices and yields move in opposite directions.
Oil prices gained 80 cents a barrel to $96.97 U.S.
Gold prices slipped 90 cents to $1,675.50 U.S. an ounce.
