Stocks started out on the right foot in Toronto on Tuesday as investors focused on easing tensions between Ukraine and Russia.
The S&P/TSX composite index gained 51.11 points to open Tuesday at 15,312.75
The Canadian dollar subtracted 0.11 cents at 91.44 cents U.S.
Ithaca Energy Inc reported a pretax loss for the first half as costs soared. Ithaca shares gave back 6.5 cents, or 2.6%, to open at $2.47.
Imperial Metals faces huge cleanup costs after a major spill at its Mount Polley mine, which may force the miner to sell part of a prized new asset unless its biggest shareholder steps in to help, bankers and industry executives said. Imperial shares docked 30 cents, or 2.9%, to $10.22.
The Nebraska Supreme Court will soon hear arguments in a dispute over the planned route for TransCanada Corp's Keystone XL pipeline, but a court ruling on the controversial project is likely to be delayed until early 2015, lawyers and activists say. TransCanada shares slid seven cents to $53.98.
Canaccord Genuity raised the price target on Cargojet Inc. to $25 from $23, with a buy rating. Cargojet shares lost three cents to $22.42.
ON BAYSTREET
The TSX Venture Exchange dropped 0.86 points to 998.21
All but three of the 14 Toronto subgroups started out higher, as gold shone 1.9% brighter, materials were 1.2% stronger, and health-care issues were 0.8% haler.
The three laggards were energy, sliding 0.3%, information technology, down 0.1%, and global base metals, off 0.04%.
ON WALLSTREET
U.S. stocks are little changed in early trading after two straight days of gains. Uncertainty about the situation in Ukraine is keeping investors cautious; energy shares are the biggest drag on the S&P 500.
The Dow Jones Industrials eked up 7.10 points to 16,577.08
The S&P 500 advanced 6.36 points to 1,937.95. The NASDAQ composite slipped 0.21 points to 4,401.12.
Shares of Tekmira Pharmaceuticals were down 17% to $19.54 U.S. a share in active trading Tuesday in what's been a wild ride for the stock of late.
The company is developing an Ebola treatment that had been put on hold by U.S. regulators and then later released for treatment in certain patients. Monday, shares closed at $23.80 U.S., but short-sellers are having their way Tuesday.
The largest percentage gainer on the New York Stock Exchange is Fortegra Financial, which is up 40.3%, while the largest percentage decliner is Gain Capital, down 10%
At the NYSE, most active stocks are Kinder Morgan, down 1.22% and Twitter.
On the NASDAQ, most active stocks include NII Holdings, down to 21 cents U.S. a share from 65 cents U.S. a share, and Exact Sciences, up 7.9% to $18.44.
Prices for 10-year U.S. Treasuries were lower at first, raising yields to 2.43% from Monday’s 2.42%. Treasury prices and yields move in opposite directions.
Oil prices slumped 81 cents to $97.27 U.S. a barrel.
Gold prices regained $5.10 at $1,315.60 U.S. an ounce.
