Canada's main stock index proudly observed hefty gains 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 84.52 points to end Tuesday at 15,463.14
The Canadian dollar dropped 0.11 cents to 75.3 cents U.S.
Gold stocks took the spotlight, as Goldcorp gathered 30 cents, or 2.1%, to $14.47, while Barrick Gold hiked 82 cents, or 5%, to 17.21.
In the materials sector, First Quantum Minerals triumphed 70 cents, or 5.4% to $13.73, and Agnico Eagle Mines vaulted $1.21, or 2.2%, to $56.24.
Energy stocks also provided some buzz, as Suncor Energy added 41 cents, or nearly 2%, to $42.61, while Canadian Natural Resources jumped 66 cents, or 1.9%, to $35.42.
On the downside, health-care took some bruises, as Aurora Cannabis faded 28 cents, or 3%, to $9.13, while Canopy Growth got hammered $4.61, or 6.9%, to $62.61.
In the tech sector, Shopify bled $2.46, or 1.2%, to $208.85, while BlackBerry dipped five cents to $10.57.
ON BAYSTREET
The TSX Venture Exchange made its way out of the red 0.31 points to 615.09
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
Blue chips on Wall Street closed stronger Tuesday, as Wall Street awaited the latest quarterly results from tech giant Apple.
The Dow Jones Industrials gained 51.74 points to close at 24,579.96, Pfizer was the best-performing stock in the index, while Verizon lagged.
The S&P 500 wilted 3.85 points to 2,640, as the tech and communication services sectors both pulled back 1%
The NASDAQ Composite slumped 57.4 points to 7,028.29
Apple shares declined 1% 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.
This is 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 1.9%.
Allergan and Verizon posted stronger-than-forecast profits, but Allergen’s shares fell 8.6% and Verizon’s 3.3%. Pfizer shares gained 3.1% on earnings.
Lockheed Martin shares rose 1.5% after posting quarterly earnings that were roughly in line with expectations. L3 Technologies shot up more than 8% and posted its best day since Oct. 15.
Amgen rose 0.1% ahead of its earnings release (it fell 2.4% in after-hours trading following the result’s release). eBay, which is also scheduled to report after the bell, slipped 0.7%.
Prices for the benchmark 10-year U.S. Treasury gained ground, lowering yields to 2.71% from Monday’s 2.74%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.18 to $53.17 U.S. a barrel.
Gold prices gained $6.70 to $1,309.80 U.S. an ounce.
