The Toronto stock market registered a solid advance Tuesday afternoon as German economic data suggested Europe's biggest economy is stabilizing.
The S&P/TSX composite index gained 90.47 points to close the day at 14,972.97
The Canadian dollar picked up 0.07 cents to 88.50 cents U.S.
The gold sector was the biggest percentage advancer, as Barrick Gold gained 89 cents, or 6.9%, to $15.04, while Goldcorp bolted 85 cents, or 3.7%, higher to $24.08.
The base metals sector shed ground as the December copper contract fell four cents to $3 U.S. a pound. Teck Resources jumped 18 cents, or 1%, to $18.46.
On the earnings front, Sears Canada posted a quarterly loss of $118.7 million or $1.16 per share, more than double the retailer's 2013 third-quarter loss. Sears Canada said its quarterly revenue dropped to $834.5 million from $982.3 million and its shares fell 24 cents, or 2.2%, to $10.75.
George Weston Ltd. earned a profit from continuing operations attributable to shareholders of $53 million or 30 cents per share, compared with $168 million or $1.21 per share a year ago.
Results were hit by costs related to the acquisition of Shoppers Drug Mart by Weston subsidiary Loblaw Cos. last year. George Weston shares inched up 10 cents to $94.60.
Meanwhile, the U.S. Senate is expected to vote on TransCanada's Keystone XL pipeline this evening. Supporters need 60 votes, but it's not clear that they have the numbers.
The pipeline was approved last week by the Republican-dominated House of Representatives, but TransCanada shares were down 57 cents at $56.00 at mid-afternoon as the bill faces a tougher test in the Democrat-controlled Senate. And beyond the Senate, President Barack Obama is widely expected to veto the legislation.
Germany's ZEW institute investors' confidence index rose by 15.1 points in November, bringing it back into positive territory for an overall reading of 11.5. That's still far below its long-term average of 24.4 points.
ON BAYSTREET
The TSX Venture Exchange progressed 6.52 points to 784.36.
All but four of the 14 Toronto subgroups were up on the day, with gold leaping 5.2%, materials up 3.5%, and health-care better by 1.8%.
The four laggards were weighed by energy, down 0.3%, metals and mining, down 0.2%, and industrials, off 0.1%.
ON WALLSTREET
U.S. stocks rose on Tuesday, lifting the Dow and S&P 500 to their loftiest ever, as a $66-billion U.S. deal by Actavis for Allergan helped drive gains in the healthcare sector and a gauge of sentiment among U.S. home builders increased more than expected.
The Dow Jones Industrials prospered 40.07 points to finish at 17,687.82
The S&P 500 acquired 10.48 points at 2,051.80. The NASDAQ index grew 31.44 points to 4,702.44.
Home Depot fell are the Dow component and home-improvement chain reported adjusted earnings that missed estimates by a penny a share.
The U.S. government reported a 0.2% gain in wholesale costs in October, as investors weighed the ramifications on the Fed's timetable for raising benchmark rates.
In Japan, Prime Minster Shinzo Abe said he was delaying next year's sales tax increase and calling for an early poll to get a mandate for his reflationary economic policies that how so far failed to yield solid results.
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.32% from Monday’s 2.34%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.36 to $74.28 U.S.
Gold prices took on $13.00 to $1,196.50 U.S.
