(CORRECTS EARLIER ERROR IN SUBGROUPS SECTION)
Stocks in Canada’s largest centre sprang to life Tuesday, with the heavyweight gold and health-care groups leading broad-based gains as oil rose.
The S&P/TSX Composite regained 123.73 points to open a new year at 15,411.32
The Canadian dollar flattened 0.07 cents to 74.37 cents U.S.
Canadian equity markets were closed Monday for New Year’s Day
Gold stocks were at the head of this parade, as Goldcorp prospered 18 cents, or 1%, to $18.46, while Iamgold raised itself 11 cents, or 2.1%, to $5.30.
Materials stocks were next in line, with First Quantum Minerals hiking 41 cents, or 3.1%, to $13.76, while Potash Corp. of Canada gained 50 cents, or 2.1%, to $24.79.
Among health-care issues, Valeant Pharmaceuticals poked up 11 cents to $19.58, while Concordia International tacked on three cents, or 1.1%, to $2.88.
On the economic slate, the Markit Manufacturing Purchasing Managers’ Index rose in December to 51.8, led by stronger new order growth, stronger than November's 51.5. The latest reading was the strongest since July and well above the survey-record low of 47.5 seen in December 2015
ON BAYSTREET
The TSX Venture Exchange roared ahead 5.32 points to begin the year at 767.69
All but one of the 12 TSX subgroups were positive, with gold shining brighter 1.8%, while materials and health-care each improved 1.3%.
Only utilities proved negative, falling only 0.03%.
ON WALLSTREET
U.S. equities rose sharply on Tuesday, the first trading day of 2017, as stronger-than-expected data out of China and rising oil prices lifted investor sentiment.
The Dow Jones Industrials zoomed 127.19 points to open at 19,889.79, with Goldman Sachs contributing the most gains.
The S&P 500 picked up 16.68 points to 2,255.51, with energy rising more than 1.5% to lead advancers.
The NASDAQ composite index regained 43.33 points to 5,426.45
In corporate news, President-elect Donald Trump attacked General Motors in a tweet, claiming the auto giant is making a Chevy Cruze model in Mexico and then sending them to U.S. dealers tax-free. GM later responded by saying that most of its Cruze models are in fact built in the U.S.
In economic news, the final read on December IHS Markit manufacturing PMI came in at 54.3, hitting a 21-month high. A number above 50 signals expansion, while a number below 50 shows contraction. The ISM manufacturing index read for December and November construction spending were also due at 10 a.m. ET.
China's Caixin Manufacturing Purchasing Managers' index (PMI) rose to 51.9, compared with 50.9 in November and beating forecasts for 50.7, on the back of increased demand.
Prices for the benchmark 10-year Treasury note faded, raising yields to 2.49% from Thursday’s 2.48%. Treasury prices and yields move in opposite directions. Bond markets were closed Friday.
Oil prices popped $1.31 to $55.03 U.S. a barrel
Gold prices spiked $3.70 to $1,155.40 U.S. an ounce.
