Stocks in Toronto rose on Tuesday as higher commodity prices helped resource-related stocks, and financial issues gained.
The S&P/TSX composite index added 43.50 points to greet noon at 15,117.63
The Canadian dollar gained 0.55 cents to 80.39 cents U.S.
The most influential gainers on the index included First Quantum Minerals Ltd, which gained 6.4% to $17.33, and Teck Resources, which advanced 6% to $15.30.
Copper prices advanced 0.3% to $6,044.50 per tonne.
Financial stocks moved higher, with Royal Bank of Canada up 0.7% at $79.36 and Toronto-Dominion Bank gaining 0.5% to $54.48.
ON BAYSTREET
The TSX Venture Exchange fell 0.10 points to 691.17
Nine of the 14 TSX subgroups were higher by midday, led by metals and mining, up 4.1%, global base metals, up 2.5%, and materials, better by 1.2%.
The five laggards were weighed most by consumer discretionary stocks, sliding 0.5%, while real-estate and health-care each capsized 0.4%.
ON WALLSTREET
U.S. stocks traded lower on Tuesday, following a decline in European equities, as rising bond yields and a weaker dollar weighed on investor sentiment.
The Dow Jones Industrials was off its lows of the morning, but still down 18.42 points, to 18,021.95, with Intel leading laggards and Boeing leading advancers.
The S&P 500 index dipped 3.13 points to 2,108.60, with utilities leading five sectors lower and energy the greatest advancer.
The NASDAQ fell 7.35 points to 5,075.58
Auto sales for May showed the strongest pace in nearly a decade, with pickup trucks and SUVs leading the way. General Motors sales rose 3% for the month, while Fiat Chrysler Automobiles saw a 4% increase. Ford sales declined 1%.
In corporate news, discount retailer Dollar General reported an 8.8% rise in quarterly sales, helped by higher demand for tobacco and health care products and perishable food items.
Youku Tudou surged more than 7.5% on news of a partnership with Disney. The Chinese video hosting site will be the exclusive online movie marketing platform for Marvel movies and TV series.
Apple will announce new music services at its Worldwide Developers Conference next week, according to The Wall Street Journal. Re/code also reports that the company will not announce a widely anticipated subscription TV service at the event, despite rampant speculation.
PVH leaped more than 8% after the firm said it earned an adjusted $1.50 U.S. per share for its latest quarter, beating estimates by 12 cents U.S. Revenue was essentially in line, and the maker of Calvin Klein and other apparel brands raised its full-year outlook and announced a $500-million U.S. stock buyback. The upbeat quarter came despite the negative impact of a strong dollar.
Medtronic reported adjusted quarterly profit of $1.16 U.S. per share, beating estimates by five cents, with revenue also above forecasts.
The medical products maker's full-year forecast is slightly below Street estimates, however, as it increases the projected negative impact of the stronger dollar.
Factory orders for April showed a decline of 0.4%. March's figure was increased to 2.2% from 2.1%
U.S. April durable goods orders were revised to show a decrease of 1% down from the initial 0.5% decline, Reuters said.
Aside from factory orders and May auto sales, Tuesday is a quiet day for economic data ahead of a slew of releases in the next few days leading up to Friday's key monthly jobs report.
Prices for 10-year U.S. Treasuries faded, sparking yields to 2.27% from Monday’s 2.18%. Treasury prices and yields move in opposite directions.
Oil prices moved up 70 cents a barrel to $60.90 U.S.
Gold prices gained three dollars at $1,191.70 U.S. an ounce.
