Stocks were on the march in Toronto Tuesday, led by gains for natural resource stocks in a broad rally after strong manufacturing data presented further evidence of a third-quarter economic rebound.
The S&P/TSX Composite leaped 103.76 points to greet noon Tuesday at 14,700.28
The Canadian dollar inched up 0.13 cents to 76.3 cents U.S.
Teck Resources advanced 3.6% to $26.49, touching its highest since mid-2014, after several banks upped their price targets and outlooks for the stock on Monday.
The most influential gainers on the index also included Barrick Gold, up 2.5% to $21.39, and pipeline company TransCanada Corp, which advanced 1.2% to $61.86.
Amaya Inc fell 7% to $18.91 after the online gambling company said it had abandoned merger talks with Britain's William Hill.
OceanaGold Corp's Toronto-listed stock advanced 6.6% to $4.03 after the Australian miner provided an update on its Philippines operations.
On the economic slate, Statistics Canada reported manufacturing in this country increased 0.9% to $51.1 billion in August, reflecting higher sales of food, primary metal, and petroleum and coal products.
ON BAY STREET
The TSX Venture Exchange sprang up 6.48 points to 778.76
All but two of the 12 TSX subgroups were positive, with gold shining brighter 2.2%, materials stronger 1.8%, and information technology up 1.1%.
The lone naysayers were in consumer discretionary stocks, off 0.4%, and real-estate, down slightly.
ON WALL STREET
U.S. equities rose on Tuesday as investors parsed through a series of stronger-than-expected quarterly reports as well as mixed inflation data.
The Dow Jones Industrials strengthened 96.39 points to 18,182.79, with UnitedHealth Group gaining 62 points. But IBM shaved off approximately 35 points on the Dow.
The S&P 500 recovered 16.92 points to 2,143.30, with health-care leading all sectors higher.
The NASDAQ composite index picked up 60.36 points, or 1.2%, to 5,260.18
Goldman Sachs continued what has already been a very strong earnings season for the big banks, easily beating estimates on both the top and bottom line. Johnson & Johnson also beat Wall Street estimates.
On Monday after the close, streaming giant Netflix beat expectations on both lines, bolstered by international subscriber growth that blew away any guidance. Netflix shares rose nearly 20% in midday trade Tuesday.
Health insurance giant UnitedHealth Group saw its stock pop more than 7% on the back of strong quarterly results.
The U.S. Labor Department said on Tuesday its Consumer Price Index rose 0.3%, meeting expectations. However, the so-called core CPI rose just 0.1% missing expectations.
Prices for the 10-year Treasury regained strength, lowering yields to 1.75% from Monday’s 1.77%. Treasury prices and yields move in opposite directions.
Oil prices were up 10 cents at $50.04 U.S. a barrel
Gold prices regained $7.10 to $1,263.70 U.S. an ounce.
