Gains in and mining stocks helped lift the Canadian market into positive territory Tuesday.
The S&P/TSX Composite Index was up 37.62 points at the closing bell to 13,930.35
The Canadian dollar was up 0.32 cents at 102.6 cents U.S.
Gold miners were split, with most managing to hang on to modest advances. Shares of New Gold Inc., were ahead 1.9% to $11.06, Goldcorp Inc. headed lower, however, by two cents to $47.32, Ivanhoe Mines Ltd faded 21 cents to $26.02, and Taseko Mines Ltd. traded higher by nine cents to $5.68
Agnico Eagle was down $1.40, or 2.2%, at $63.25 while Barrick Gold dipped 34 cents, or 0.7%, at $49.40.
Among financial issues, Toronto-Dominion Bank rose 75 cents, or 0.9%, to $84.78.
In the materials group diversified miner Teck Resources was up 39 cents, or 0.8%, at $51.89.
In individual corporate news, Cameco Corp was off 28 cents, or 1%, to $28.91, extending Monday's losses, after Canadian Imperial Bank of Commerce cut its price target on the uranium miner to $43 from $46.
Cameco has also been hit by heightened concerns over future uranium demand in the wake of the Japanese disaster.
Lululemon Athletica extended Monday's run, climbing 4.2% to $86.80 after the high-end yoga wear company said it would split its common and special voting shares on a two-for-one basis.
The higher showing on the TSX followed a 147-point tumble Monday as investors took profits from a strong gain of almost 2% last week.
ON BAYSTREET
The TSX Venture Exchange let go of 3.75 points to 2,277.88, while the Nasdaq Canada index acquired 11.90 points to 760.77
In Toronto, all but three of the 14 subgroups were up Tuesday, led by information technology, up 1.5%, global base metals, tacking on 1.3%, and telecoms, ahead 0.9%
The three laggards were gold, down 0.3%, health-care and energy, materials, off 0.1% each.
ON WALLSTREET
In New York, stocks rose to session highs Tuesday afternoon, thanks to solid gains in telecommunication and retail stocks, and as investors shrugged off ongoing global concerns.
The Dow Jones industrial average moved 81.13 points higher to 12,279, led by a 3% jump in shares of Home Depot. The home improvement retailer said late Monday that it would buy back $1 billion U.S. of outstanding shares.
Telecom companies AT&T and Verizon also boosted the blue-chip index, as investors continued to cheer the possible consolidation of the industry.
The S & P 500 stepped 9.25 points higher to 1,319.44. The tech-rich Nasdaq Composite Index added 26.21 to 2,756.89.
Online retailer Amazon.com was among the best performers on both indexes. Shares climbed almost 3% after Amazon introduced its Cloud Music service ahead of rivals Apple and Google
Meanwhile, a 5% drop in shares of Apollo Group weighed on both the S&P 500 and the Nasdaq, after the operator of the University of Phoenix lowered its outlook. Devry and Washington Post also slid.
Shares of BP fell 2.5% after analysts at Collins Stewart reportedly downgraded the stock on concerns about its joint-venture with Russian oil and gas company Rosneft.
BP was also under pressure following a report that federal prosecutors are considering whether to pursue manslaughter charges against company managers for decisions made before the Deepwater Horizon oil rig exploded and killed 11 workers last year.
Economically speaking, the S&P Case-Shiller home price index of 20 major cities showed that January home prices fell 3.1% on an annual basis, nearing the housing market's 2009 lows. Prices fell 1% on a monthly basis.
Consumer confidence slipped in March, according to the Conference Board. Turbulence in the oil markets and concern over the Japanese nuclear crisis put a big dent in sentiment.
The price on the benchmark 10-year U.S. Treasury slipped, upping yields to 3.49% from Monday’s 3.45%. Treasury prices and yields move in opposite directions.
Oil for February delivery regained 80 cents to $104.78 U.S. a barrel.
Gold futures for April delivery fell $1.70 to settle at $1,418.20 U.S. an ounce.
