Equities in Canada’s biggest market moved higher in early trade on Tuesday, adding to a 17-month high touched in the prior session helped by gains among some big banks and resource stocks.
The S&P/TSX Composite gained 18.4 points to open Tuesday at 15,058.27, on top of Monday’s 175-point hike.
The Canadian dollar added 0.15 cents at 74.68 cents U.S.
Bombardier said it won an eight-year contract valued at $331 million from Montreal's regional transport authority. The deal, in effect since Nov. 18, is to operate and maintain a commuter rail fleet in the greater Montreal area.
Bombardier shares crept up two cents to $1.89.
Canada's Competition Bureau concluded on Monday that TMX Group did not violate anti-competitive rules despite its refusal to share private market data with a rival.
TMX shares dipped 15 cents to $65.50.
National Bank Financial raised the target price on Golden Star Resources to $1.70 from $1.50, saying Prestea and Wassa underground mines have attributes to create long-term sustainable value for the company.
Golden Star shares fell half a cent to 12.5 cents.
National Bank Financial raised target price on Hudbay Minerals to $9.00 from $7.00, with increased clarity on future cash flows and near term liquidity that set to improve.
Hudbay shares took on 33 cents, or 4.1%, to $8.41.
Alimentation Couche-Tard is out with earnings today, projecting Q2 earnings of 59 cents per share.
Couche-Tard shares triumphed 84 cents, or 1.3%, to $63.96.
George Weston expects Q3 earnings of $2.02 per share. Weston shares faded 52 cents to $109.44.
On the economic slate, Statistics Canada reported that retail trade rose 0.6% to $44.4 billion in September on the strength of higher sales at motor vehicle and parts dealers. The hike broke a four-month string of stagnant readings.
Moreover, Canadians on employment insurance totaled 571,800 in September, up 3,300 or 0.6% from August. On a year-over-year basis, the number of beneficiaries was up 27,800, or 5.1%.
ON BAYSTREET
The TSX Venture Exchange flopped 8.27 points, however, to start Tuesday at 739.66
The 12 TSX subgroups were evenly split between gainers and losers, as financials moved higher 0.5%, consumer staples gained 0.4%, and utilities progressed 0.3%.
The half-dozen laggards were weighed most heavily by gold, down 1.4%, health-care, off 1.3%, and information technology, 0.5% to the bad.
ON WALLSTREET
U.S. equities traded higher on Tuesday, hitting new all-time highs, as investors digested housing data and kept an eye on President-elect Donald Trump's policy agenda.
The Dow Jones Industrials gained 44.94 points to open Tuesday at 19,001.63, breaking above 19,000 for the first time ever shortly after the open, with Boeing contributing the most gains
The S&P 500 advanced 3.47 points to a new intraday high of 2,201.65, as telecommunications led advancers.
The NASDAQ composite index added 16.3 points to 5,385.16, also trading at fresh record highs.
In corporate news, medical equipment maker Medtronic reported mixed quarterly results. Medtronic also cut its full-year forecast, as customers delay purchases ahead of new products entering the marketplace. Meanwhile, KKR is buying Japanese auto parts maker Calsonic from Nissan Motors and its partners for $4.5 billion U.S.
Market expectations for a Federal Reserve interest rate hike in December have now climbed to 100%.
On Monday, Trump expanded on his policy agenda, which includes withdrawing from the Trans-Pacific Partnership (TPP). The trade pact was a centrepiece of the Obama administration's "pivot" towards Asia and was meant to solidify the U.S.'s presence in what is considered by many American companies as the most economically dynamic part in the world.
In economic news, existing home sales rose to their highest annual rate since February 2007. There are no other major data due Tuesday, but Wednesday will see several reports released, as the U.S. will celebrate the Thanksgiving holiday on Thursday.
Treasury prices for the 10-year note were unchanged, keeping yields at Monday’s 2.32%.
Oil prices shed 24 cents to $48.00 U.S. a barrel
Gold prices dropped $1.90 to $1,207.90 U.S. an ounce.
