The S&P/TSX Composite Index gained 56.54 points to open Tuesday and the month of March at 12,916.89.
The Canadian dollar acquired 0.28 cents to 74.12 cents U.S.
Bank of Nova Scotia, Canada's third-largest bank, reported a 5.1% rise in quarterly profit, helped by growth in its international banking business.
Scotiabank sprinted ahead $1.59, or 2.6%, to $56.18.
Maple Leaf Foods reported a quarterly profit, compared with a year-earlier loss, helped by improved margins in its prepared meats business.
Maple Leaf shares galloped $2.17, or 9.5%, to $24.98
WestJet Airlines Ltd has started talks with aircraft makers on replacements for its fleet of Boeing 767-300 planes, with delivery of the new planes expected by the end of this decade.
WestJet shares dropped 17 cents, or nearly 1%, to $17.68.
CIBC started coverage on Acadian Timber with a sector perform rating, and a $20.00 target price.
Acadian shares fell 29 cents, or 1.5%, to $19.00
Raymond James cut the target price on Delphi Energy to $1.75 from $1.85, with a strong buy rating.
Delphi shares were unchanged at 77 cents.
NBF raised the target price on Prairiesky Royalty to $24.00 from $23.00, with an outperform rating.
Prairiesky shares took on 36 cents, or 1.6%, to $22.39.
China has cut the amount of cash that banks must hold as reserves, positively surprising markets as the move frees up an estimated $100 billion for fresh lending.
On the economic calendar, Statistics Canada reported that real gross domestic product grew 0.2% in December, after rising 0.3% in November. GDP grew 0.2% in the fourth quarter, following a 0.6% increase in the third quarter. Real GDP advanced 1.2% in 2015, about half the pace recorded in 2014
RBC reported that its Canadian Manufacturing Purchasing Managers’ Index registered 49.4 in February, up fractionally from 49.3 in January, but below the neutral 50.0 threshold for the seventh month in a row. Nonetheless, the latest reading was the highest since
August 2015, largely reflecting a softer decline in production levels during February.
The headline RBC PMI reflects changes in output, new orders, employment, inventories and supplier delivery times.
ON BAYSTREET
The TSX Venture Exchange advanced 3.01 points to 544.74
Nine of the 13 TSX subgroups began the day higher, as financials prospered 1.2%, utilities were 1% brighter, and industrials moved ahead 0.8%.
The four laggards were weighed most by health-care, down 1.6%, gold, down 1.3%, and materials, off 0.8%.
ON WALLSTREET
U.S. stocks traded higher Tuesday, attempting to begin March on a solid note, after a better-than-expected ISM report.
The Dow Jones Industrial average gained 106.32 points to 16,622.82, with Goldman Sachs contributing the most to gains.
United Technologies briefly fell about 4% in morning trade as the greatest contributor to declines in the Dow after Honeywell said it is no longer pursuing its bid for the company.
The S&P 500 added 18.55 points to 1,950.78, with financials leading nine sectors higher and health-care the only laggard.
The NASDAQ index recovered 44.98 points to 4,602.93, as Apple and Amazon traded higher.
February Institute for Supply Management manufacturing came in at 49.5, about one point above expectations and topping January's 48.2 print. However, the figure still remained below the 50 contraction-expansion level.
Construction spending rose 1.5% in January to its highest level since 2007.
Monthly auto sales are also out Tuesday ahead of the jobs report on Friday.
The Markit manufacturing PMI for February came in at 51.3, up from the flash 51.0 print but down from January's final 52.4 read.
Prices for the 10-year Treasury dropped sharply, raising yields to 1.79% from Monday’s 1.74%. Treasury prices and yields move in opposite directions.
Oil prices surrendered 12 cents a barrel to $33.63 U.S.
Gold prices faded $3.11 to $1,235.56 U.S. an ounce.
