Markets in Canada’s largest centre opened higher on Tuesday, led by gains in energy stocks as price of Brent Crude inched closer to $80. U.S.
The S&P/TSX Composite Index gathered 45.09 points to begin a new day and week at 16,207.40, to within two points of where it closed on New Year’s Eve 2017.
The Canadian dollar regrouped 0.09 cents to 78.35 cents U.S.
Markets in Canada were closed on Monday for Victoria Day.
Australian hospital group Healthscope rejected two takeover approaches, including the one by Brookfield Asset Management, and said it will instead explore selling its properties, in what analysts called a risky move that could invite a more favorable takeover bid.
Brookfield shares eked up four cents to $52.01.
Health-care shares led the field, with Aurora Cannabis up 34 cents, or 4.3%, to $8.26, while Canopy Growth gained $1.58, or 4.4%, to $37.62.
Energy shares also came to the fore, with Suncor gaining four cents to $52.80, while Imperial Oil took on 39 cents to $42.51.
Among financials, Royal Bank galloped 72 cents to $101.29.
On the economic front, Statistics Canada reported wholesale trade rose 1.1% to $62.8 billion in March, more than offsetting the decline in February. The motor vehicle and parts sub-sector contributed the most to the gain.
ON BAYSTREET
The TSX Venture Exchange gained 4.36 points to 790.75
All but three of the 12 TSX subgroups began the day higher, with health-care soaring 2%, energy gushing 0.8%, and financials up 0.5%.
The three laggards were information technology, off 0.7%, gold dumped 0.2%, and utilities inched back 0.03%.
ON WALLSTREET
Stocks opened mixed on Tuesday, after strong gains from the previous session, after China said it will reduce levies on automakers and car parts.
The Dow Jones Industrials faded 13.28 points to 25,000.01, with General Electric as the best-performing stock in the index.
The S&P 500 gained 3.28 points to 2,735.21, as tech rose half a percentage point.
The NASDAQ gained 7.18 points to 7,401.22
In corporate news, shares of Lowe's rose 3.3% after the company announced that J.C. Penney CEO Marvin Ellison would become its new chief executive. The news also sent J.C. Penney's stock down 7.2%.
The Chinese Finance Ministry said tariffs on certain vehicles will come down to 15% from as much as 25% while levies on some parts will be brought down to 6% effective July 1.
Shares of Ford, General Motors and Tesla all rose on the news, gaining about 1% Tuesday.
The announcement by China comes after Treasury Secretary Steven Mnuchin told the media on Monday the U.S. has made "very meaningful progress" with China on trade matters, noting: "Now it's up to both of us to make sure that we can implement it."
Prices for the benchmark for the 10-year U.S. Treasury were slightly lower, raising yields to 3.07% from Monday’s 3.06%. Treasury prices and yields tend to move in opposite directions.
Oil prices were unchanged at $72.35 U.S. a barrel.
Gold prices gained $1.40 at $1,292.30 U.S. an ounce.
