Equities in Canada’s biggest market held their own Tuesday, as investors watched the waxing and waning fortunes of BlackBerry, among other major stocks.
The S&P/TSX Composite held onto 23.11 points in gains to conclude Tuesday at 15,292.96
The Canadian dollar remained negative 0.16 cents to 74.76 cents U.S.
The Canadian smartphone pioneer, which has gone through a wrenching transition in recent years, reported adjusted earnings of two cents a share, which came in ahead of analysts' expectations for a loss of one cent a share.
BlackBerry shares enjoyed hefty gains during the day, before dropping 34 cents, or 3.3% to $10.00
Meantime, shares of label and packaging maker CCL Industries Inc surged $44.37, or 19.6% to $271.19.
CCL said on Monday it would acquire the U.K.-based Innovia Group of companies for about $1.13 billion.
Materials stocks led the parade of gaining subgroups, with Lundin Mining climbing 35 cents, or 5.5%, to $6.71, while First Quantum Minerals popped 59 cents, or 4.3%, to $14.44.
In the financial world, Manulife Financial took on 23 cents to $24.69, while Sun Life Financial picked up $1.06, or 2.1%, to $52.47.
Health-care stocks also advanced, Valeant Pharmaceuticals eked up 15 cents to $19.63, while Concordia International sank eight cents to $3.11. Canopy Growth got bruised 32 cents, or 3.3%, to $9.25.
Utilities were the worst off among the laggards, with Hydro One off nine cents to $23.42, and Fortis Inc. sliding 32 cents to $40.60.
Among telecoms, Telus docked 40 cents to $42.38, while BCE let go of two cents to $57.38.
In the consumer staples field, Metro Inc. ditched 29 cents to $39.94, while Restaurant Brands – the parent company of Tim Hortons and Wendy’s – lost 12 cents to $64.29.
On the economic beat, Statistics Canada reported that wholesale trade increased 1.1% to $56.6 billion in October, offsetting most of September's 1.5% decrease.
The agency said gains were recorded in five sub-sectors, led by higher sales in the building material and supplies, motor vehicle and parts, and food, beverage and tobacco sub-sectors.
Meantime, the number of Canadians drawing regular employment insurance benefits numbered 575,200 in the same month, down 2,700, or 0.5%, from September.
ON BAYSTREET
The TSX Venture Exchange continued its downward journey, doffing 3.87 points to 716.87
Seven of the 12 TSX subgroups were lower on the day, with utilities dropping 0.5%, while telecoms and consumer staples each decreased 0.4%.
The five gainers were led by materials, flourishing 1.3%, financials, up 0.5%, and health-care, up 0.3%.
ON WALLSTREET
Stocks rose on Tuesday, led by financials, as investors remained unfazed by geopolitical tensions, while the Dow Jones industrial average kept marching toward 20,000.
The Dow ended the day positive 81.34 points to 19,964.40 with Nike leading advancers and Merck the top decliner. The blue-chips came to within 13 points of hitting the milestone mark – a new intraday high.
The S&P 500 gained 8.23 points to 2,270.76, with financials leading seven sectors higher and consumer staples the biggest decliner
The NASDAQ composite index added 26.5 points to 5,483.94, also reaching a new all-time high earlier in the session.
There were no major economic data due Tuesday, but investors had several earnings reports to dwell on, with the likes of Darden Restaurants, General Mills and BlackBerry all reporting before the bell. FedEx and Nike are also scheduled to report after the close.
Analysts expected Dow-component Nike to report earnings per share of 43 cents U.S. on sales of $8.1 billion. FedEx is expected to post profits of $2.90 per share on revenue of $14.92 billion U.S.
On Monday, the Russian ambassador to Turkey died after being shot by a gunman at an art gallery in the Turkish capital. Meanwhile, in Berlin, a truck ploughed into a crowded Christmas market, killing 12 and injuring 48.
Treasury prices for the 10-year note moved backward, hiking yields to 2.56% from Monday’s 2.53%. Treasury prices and yields move in opposite directions.
Oil prices stayed afloat 11 cents to $52.22 U.S. a barrel
Gold prices dipped $9.40 to $1,133.30 U.S. an ounce.
