Equity markets north of the border rose on Tuesday, tracking global equities, on hopes of U.S. President Donald Trump signaling progress on trade talks with China.
The TSX Composite Index gained 20.98 points to kick off Tuesday at 16,903.74
The Canadian dollar inched higher 0.04 cents to 75.60 cents U.S.
Restaurant Brands International revealed on Monday that its Burger King restaurants rolled out a meat-free version of its Whopper burger in 25 European countries, using patties made by Unilever Plc to strengthen its foothold in the exploding market for plant-based food served in restaurant chains.
Restaurant Brands shares took on 36 cents to $89.64.
Cronos Group reported a bigger quarterly loss on Tuesday, as the Canadian marijuana producer was weighed down by lower margins and surge in expenses. Cronos shares increased 18 cents, or 1.7%, to $10.87.
CIBC cut the target price on Premium Brands Holdings to $81.00 from $94.00. Premium shares docked $1.09, or 1.3%, to $80.74.
CIBC raised the target price on Optiva to $58.00 from $50.00. Optiva shares were unchanged at $57.68.
Then, CIBC raised the target price on Canadian Natural Resources to $48.00 from $46.00. Natural Resources shares began the day up three cents to $36.92.
ON BAYSTREET
The TSX Venture Exchange recovered 0.68 points at 535.28
All but two of the 12 Toronto subgroups were positive in the first hour, led by gold, up 0.6%, information technology, clicking 0.5%, and consumer staples, up 0.3%.
The two laggards were energy, down 0.2%, and industrials, off 0.03%.
ON WALLSTREET
Stocks rose slightly on Tuesday as investors awaited a speech from President Donald Trump on trade and economic policy.
The Dow Jones Industrial Average higher 44.96 points to yet another record close of 27,736.45.
The S&P 500 resumed their climb, 11.24 points, to 3,098.25
The NASDAQ spiked 29.29 points to 8,493.56 to reach a fresh intraday record.
Semiconductor stocks such as Marvell Technology and Micron Technology advanced 3.6% and 2.3%, respectively.
Rockwell Automation shares surged more than 19% after the company posted quarterly results that beat expectations along with stronger-than-forecast guidance. However, Advance Auto Parts slid around 8% on disappointing same-store sales for the previous quarter.
Trump is scheduled to speak at noon ET at the Economic Club of New York where he could give clues to the status of trade talks between the U.S. and China. His speech comes amid questions regarding plans to sign a trade deal in the coming weeks.
Bond trading resumed Tuesday, after a long weekend, and prices for the 10-Year U.S. Treasury were unchanged at Friday’s 1.93%.
Oil prices gained 41 cents to $57.27 U.S. a barrel.
Gold prices fell $4.10 to $1,453.00 U.S. an ounce.
