Canada's main stock index rose on Wednesday as oil and gas producers rallied on stronger crude prices, while financial stocks gained on higher bond yields.
The S&P/TSX composite index jumped 106.88 points to welcome noon at 14,924.59
The Canadian dollar remained positive 0.44 cents to 81.51 cents U.S.
Among the most influential movers on the index were oil companies Canadian Natural Resources Ltd, which rose 1.5% to $37.32, and Suncor Energy, which advanced 0.8% to $36.18.
Among rising financials, Toronto-Dominion Bank was up 0.5% at $54.72, and Sun Life Financial Inc advanced 2.5% to $42.62.
The index's materials group, which includes miners, climbed, with First Quantum Minerals Ltd up 3.2% at $18.44, and Teck Resources Ltd advancing 2.6% to $14.83. Copper prices rose 1.2% to $6,034 U.S. a tonne, a two-week high.
ON BAYSTREET
The TSX Venture Exchange was still positive 3.26 points at noon hour ET to 684.88
All but two of the 14 TSX subgroups were higher midday, with global base metals surging 1.9%, metals and mining trucking 1.8% higher, and energy gushing 1.2%.
The two laggards were telecoms and health-care, each off 0.3%.
ON WALLSTREET
U.S. stocks took off like American Pharoah thundering down the stretch on Wednesday in light volume, as the rise in yields on signs of global economic growth encouraged investors, amid encouraging reports on Greece.
The Dow Jones Industrials rocketed 252.64 points, or 1.4%, to 18,016.68, as traders cheered a Bloomberg report that Germany is said to consider offering Greek Prime Minister Alexis Tsipras aid in return for committing to one economic reform, sources familiar with Germany's position told the news service.
The S&P 500 index grew 25.66 points to 2,105.81,
The NASDAQ shunted higher 65.53 points to 5,079.39.
The rally in yields sent financials 1.5% higher as the second-best performer in the S&P 500. Goldman Sachs, Morgan Stanley, JPMorgan Chase, Wells Fargo and PNC Financial all hit new highs.
Gains in oil boosted energy more than 1% to trade among the leaders in the S&P 500. Chevron was among the blue chip leaders as all the stocks in the index advanced. Crude oil held higher as the weekly inventory report indicated U.S. production is leveling off.
Netflix surged 6% to a record after news its shareholders approved an increase in the company's share authorization, the precursor to a stock split. There's no indication yet for an exact ratio for the split.
Apple gained more than 1% despite reports that its newly announced Apple Music service is facing antitrust scrutiny from the attorneys general of New York and Connecticut. The probe will center on Apple's negotiations with music companies on its paid subscription service.
The only data of note out Wednesday, total weekly mortgage applications, showed an 8.4% jump on a seasonally adjusted basis as buyers rushed to get mortgages ahead of rising rates.
Prices for 10-year U.S. Treasuries stumbled, rocketing yields to 2.48% from Tuesday’s 2.43%. Treasury prices and yields move in opposite directions.
Oil prices hiked 45 cents a barrel to $60.59 U.S.
Gold prices leaped $9.60 at $1,187.20 U.S. an ounce.
