Stocks in Canada’s biggest centre doggedly made their way out of a hole Tuesday, as strength in gold and resource issues overcame losses in real-estate and financials.
The S&P/TSX Composite Index gained 30.67 points to close Tuesday at 15,082.70
The Canadian dollar gave back 0.03 cents to 79.83 cents U.S.
Gold stocks led the charge, with IAMGOLD climbing 11 cents, or 1.4%, to $8.02, and Goldcorp improved 16 cents, or nearly 1%, to $17.00
Among material issues, Agnico Eagle Mines increased $1.87, or 3%, to $63.86, while Taseko Mines tacked on eight cents, or 3.5%, to $2.37.
In the industrial field, Air Canada increased 16 cents to $23.17, while Canadian Pacific Railway gained $1.65 to $192.57.
Among consumer discretionary stocks, Canadian Tire doffed 72 cents to $150.62.
Canada’s top banks had the biggest impact on the index’s declines, with Bank of Montreal sliding $2.36, or 2.6%, to $90.07. The retreat came even as "The First Canadian Bank" reported third- quarter profit that beat forecasts
Energy stocks were also a big drag on the index, hurt by lower oil prices which extended Monday’s declines on concerns over rising crude inventories due to the fallout from Harvey, a hurricane downgraded to a tropical storm.
Enbridge was down 1.1% to $49.33, while Encana was down 1.3% to $11.12.
Agnico Eagle Mines increased 2.5% to $63.56
On the economic schedule, Statistics Canada reported that its industrial product price index declined 1.5% in July, mainly due to lower prices for motorized and recreational vehicles, while its raw materials price was down 0.6% in the same month, mostly attributable to lower prices for metal ores, concentrates and scrap.
ON BAYSTREET
The TSX Venture Exchange slumped 0.11 points to 777.
Eight of the 12 TSX subgroups were ahead on the day, with gold up 1%, while materials and industrials each hiked 0.9%.
The four laggards were led by real-estate, down 0.5%, consumer discretionary stocks, down 0.3%, and financials, off 0.2%.
ON WALLSTREET
Stocks regained their footing to close higher on Tuesday as investors shook off the tension between the U.S. and North Korea.
The Dow Jones Industrials gained 56.97 points to 21,865.37, with United Technologies and Boeing contributing the most to the gains.
The S&P 500 regained 2.06 points to 2,446.30, with industrials leading four sectors higher.
The NASDAQ moved higher 18.87 points to 6,301.89, after Apple hit a record high.
A South Korean military official told the media that a missile was fired around 6:00 a.m. local time on Tuesday. The official said that the missile flew for about 2,700 kilometres, reaching a maximum altitude of 550 kilometres.
In economic news, the S&P CoreLogic Case-Shiller home price index rose slightly from May to June. Consumer confidence hit 122.9 in August, higher than the expected number of 120.3.
Prices for the benchmark 10-year Treasury note were up, lowering yields to 2.13% from Monday’s 2.16%. Treasury prices and yields move in opposite directions.
Oil prices backtracked 19 cents to $46.38 U.S. a barrel
Gold prices eased back 60 cents to $1,314.70 U.S. an ounce.
