Canada's main stock index gained on Tuesday, as energy shares were buoyed by higher crude prices and precious metal mining stocks were supported by rising gold prices.
The S&P/TSX Composite Index gained 77.58 points to greet noon at 15,456.20
The Canadian dollar dropped 0.05 cents to 75.36 cents U.S.
The largest percentage gainer on the TSX was Iamgold, which gained 18 cents, or 4%, to 4.66, after BMO upgraded the shares to "outperform" from "market perform."
Cascades fell 39 cents, or 3.8%, the most on the TSX, to $9.97, after Desjardins cut its price target on the stock. The second biggest decliner was Hudson's Bay, down 11 cents, or 1.43% to $7.61
ON BAYSTREET
The TSX Venture Exchange dipped into the red midday by 0.49 points to 614.29
Seven of the 12 TSX subgroups were still positive by noon hour, as gold shone 1.9% brighter, materials were mightier by 1.3%, and energy gushed 1.2%.
The five laggards were weighed most by health-care, sliding 2.3%, information technology, faltering 0.8%, and consumer staples, off 0.3%.
ON WALLSTREET
Stocks fell on Tuesday as Wall Street awaited the latest quarterly results from tech giant Apple.
The Dow Jones Industrials came off its highs of the day, but still gained 72.93 points to pause for lunch at 24,601.15
The S&P 500 wilted 3.73 points to 2,640.03
The NASDAQ Composite slumped 50.74 points to 7,080.54
Apple shares declined 0.4% ahead of the company’s report, which is scheduled for release after the close. The report comes after the iPhone maker slashed its revenue guidance for the previous quarter earlier this month, citing weaker growth in China.
We are in the busiest week of the current earnings season. When the dust settles, more than 100 companies in the S&P 500 will have posted their quarterly results. Through Tuesday morning, more than 70% of the companies that have reported have beaten analyst expectations.
3M was among the companies that posted better-than-expected earnings on Tuesday, sending its stock up 2.7%. Allergan and Verizon posted stronger-than-forecast profits, but their shares fell. Pfizer shares gained 0.4% on earnings.
Prices for the benchmark for the 10-year U.S. Treasury gained a bit of territory, easing yields to 2.73% from Monday’s 2.74%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.43 to $53.42 U.S. a barrel.
Gold prices gained $5.80 to $1,308.90 U.S. an ounce.
