Equity markets in Toronto forged gains on both big- and small-cap indexes, helped largely by resource stocks.
The S&P/TSX Composite Index finished Wednesday up 33.69 points to 15,629.19.
The Canadian dollar climbed 0.54 cents at 74.03 cents U.S.
A federal government source says the country is considering issuing longer-term debt to take advantage of low interest rates, and expects servicing costs to be lower this fiscal than was forecast last year despite the billions in emergency spending due to COVID-19.
Health-care shrank the most of the TSX subgroups, weighed most by
Bausch Health Companies, sliding $1.45, or 5.8%, to $23.69, while Aurora Cannabis off 52 cents, or 3.1%, to $16.32.
Energy also let the side down, as Seven Generations Energy swooning 17 cents, or 5%, to $3.22, while Vermilion Energy skidding 25 cents, or 4.3%, to $5.62.
In communications, which also took their lumps, Cogeco Communications sank $4.37, or 4.3%, to $96.41, while Rogers docked $1.40, or 2.6%, to $53.30.
Gold and materials lifted things up, with Wesdome picking up $1.14, or 9.3%, to $13.39, while Kirkland Lake Gold advancing $4.53, or 7.6%, to $64.24.
First Majestic Silver rocketed 95 cents, or 7.2%, to $14.10, while First Quantum Minerals improved 81 cents, or 7.1%, to $12.15.
Among techs, Constellation Software jumped $52.50, or 3.3%, to $1,612.01, while Lightspeed POS ahead $1.13, or 3.2%, to $37.05.
ON BAYSTREET
The TSX Venture Exchange jumped 13.14 points, or 2%, to 664.80
Eight of the 12 TSX subgroups closed the day on the downside, with health-care ailing 2.2%, energy down 1.9%, and communications off 1.2%.
The four gainers were led by gold, up 2.1%, materials, soaring 2%, and information technology ahead 0.8%.
ON WALLSTREET
Stocks rose on Wednesday as gains in major tech names such as Apple and Microsoft led the way even as coronavirus cases keep rising at a record pace.
The Dow Jones Industrials spent the early afternoon in minus country, but recovered 176 points to close at 26,066.188.
The S&P 500 gained 24.62 points, or 1.6% to 3,169.94, and posted an all-time closing high.
The tech-heavy NASDAQ chugged ahead 148.61 points, or 1.4%, to 10,492.50, also notching a record closing high.
Apple rose 2.3% to a record high after a Deutsche Bank analyst hiked his price target on the stock. Microsoft shares gained 2.2% and Netflix climbed nearly 2%. Amazon closed 2.7% higher.
Names that would benefit from the economy reopening were under pressure for most of the day before rebounding in the final hour of trading. United fell as much as 3.8% after the company warned 36,000 employees about potential job cuts. The stock recovered to close just below the flatline.
Wednesday’s move higher comes even as the U.S. reported a record daily spike of more than 60,000 coronavirus cases on Tuesday. That latest surge brought the total number of confirmed U.S. cases to nearly three million, according to Johns Hopkins University.
Coronavirus-related deaths have risen to more than 131,000 in the U.S., according to Hopkins.
Prices for the 10-Year Treasury were up, dropping yields to 0.66% from Tuesday’s 0.67%. Treasury prices and yields move in opposite directions.
Oil prices regained 23 cents to $40.85 U.S. a barrel.
Gold prices added $8.80 to $1,818.70 U.S. an ounce.
