Canada’s main stock index edged higher on Tuesday, set to post its fourth straight session of gains, as energy shares were lifted by higher oil prices.
The TSX Composite Index moved into positive territory 7.78 points to greet noon at 17,064.14. The Canadian dollar nicked up 0.07 cents at 76.03 cents U.S.
The main index opened lower, with declines led by Canfor Corp which tumbled $2.47, or 15.9%, to $13.09, after it rejected Great Pacific Capital Corp’s proposal to take it private.
The largest percentage gainers on the TSX were Whitecap Resources, which jumped 24 cents, or 4.9%, to $5.13, and Baytex Energy which rose seven cents, or 4.2%, to $1.75.
On the economic slate, Statistics Canada manufacturing sales declined 0.7% to $57.1 billion in October, the second consecutive monthly decrease.
The agency said lower sales in the transportation equipment and fabricated metal product industries were partly offset by higher sales in the petroleum and coal product industry.
ON BAYSTREET
The TSX Venture Exchange shed 0.94 points to 540.67
All but two of the 12 subgroups pointed downward, with health-care slumping 1.4%, while gold and materials each lost 0.4%.
The pair of gainers were energy, ahead 2.1%, and industrials, ahead 0.02%.
ON WALLSTREET
Stocks in the United States rose and hit all-time highs on Tuesday as investors built on four straight days of gains.
The Dow Jones Industrials amassed 84.69 points, on top of Monday’s all-time high to 28,320.58
The S&P 500 added 3.52 points to Monday’s record close to 3,194.97
The NASDAQ gained 2.67 points on top of Monday’s all-time high to 8,816.89
Netflix jumped more than 3% after the streaming giant disclosed strong membership growth numbers in key regions, including Asia-Pacific and Europe, the Middle East and Africa. Johnson & Johnson climbed around 1% after a Morgan Stanley analyst upgraded the stock, noting many of the company’s structural issues “have been addressed.” Shares of Apple climbed slightly, hitting a new 52-week high of $281.77.
The S&P 500 came into Tuesday’s session up 27.3% year to date, its biggest annual gain since 2013. The Dow acquired 21% and the NASDAQ was up 32.8%.
On the data front, U.S. housing starts rose more than expected in November as building permits surged to a 12½-year high.
Prices for the 10-Year U.S. Treasury were static, keeping yields at Monday’s 1.88%.
Oil prices added 45 cents to $60.66 U.S. a barrel. Gold prices moved forward 40 cents at $1,480.90 U.S. an ounce.