Equities in Canada’s largest centre overcame early negative readings to move out into the sunlight Tuesday, led mostly by high-powered health-care issues.
The S&P/TSX Composite Index fought its way out of negative readings and actually gained 34.08 points to close Tuesday at 15,842.71
The Canadian dollar faded 0.38 cents to 77.22 cents U.S.
Health-care issues led the pack upward, most notably Valeant Pharmaceuticals, up $2.20, or 9.4%, to $25.66, amid word the company will soon change its name to Bausch Health Companies.
Techs scored big, too, as BlackBerry gained 22 cents, or 1.6%, to $14.40, while Constellation Software picked up $1.74 to $961.89.
Gold fought its way back, as Kinross Gold, up 13 cents, or 2.6%, to $5.33, while Agnico Eagle Mines triumphed 63 cents, or 1.1%, to $55.76.
The largest percentage gainer on the TSX was Nevsun Resources Ltd, which rose 64 cents, or 16.6%, to $4.56, after the company on Monday rejected proposal from miners Lundin and Euro Sun to acquire all of Nevsun's shares for $1.5 billion
Among the groups pointing lower, Hydro One dove 26 cents, or 1.3%, to 20.23, to weigh most on utilities. Fortis Inc. dropped 39 cents to $42.97.
Real-estate concerns dwindled, as NorthWest Healthcare Properties fell two cents to $11.31.
Among telecoms, TELUS Corporation gave back 11 cents to $45.93.
On the economic beat, Canada Mortgage and Housing Corporation said housing starts were at an annual rate of 214,379 in April, down from March's 225,213.
ON BAYSTREET
The TSX Venture Exchange dropped 3.74 points to 770.82
Eight of the 12 TSX subgroups higher by day’s end, with health-care boosting 1.7%, information technology, up 1%, and gold, advancing 0.9%
The four laggards were weighed most by utilities, down 0.8%, real-estate, peeling back 0.4%, and telecoms, off 0.3%.
ON WALLSTREET
Stocks closed little changed on Tuesday after President Donald Trump announced he was withdrawing the U.S. from the Iran nuclear deal signed three years ago.
The Dow Jones Industrial Average inched up 2.89 points to 24,360.21, with J.P. Morgan Chase as the best-performing stock in the index.
The 30-stock index briefly fell more than 150 points following the announcement.
The S&P 500 slipped 0.71 points to 2,671.92, as utilities fell 2.5%
The NASDAQ eked up 1.69 points to 7,266.90
Back in 2015, the Obama administration and Iran signed a deal to defer sanctions on Iranian oil exports, while Iran curbed its nuclear program. On Tuesday, Trump said the U.S. was pulling out of that deal and restoring sanctions.
In corporate news on Tuesday, sources told the media that Comcast is planning an all-cash bid for most of 21-Century Fox's assets if the U.S. government approves AT&T's purchase of Time Warner.
Comcast shares slipped 5.5%, while Fox slipped 0.1%.
Prices for the benchmark for the 10-year U.S. Treasury fell back, raising yields to 2.97% from Monday’s 2.95%. Treasury prices and yields move in opposite directions.
Oil prices doffed $1.03 a barrel to $69.70 U.S.
Gold prices poked higher 60 cents to $1,314.70 U.S. an ounce.
