Equities in Canada’s largest market extended gains on Wednesday helped by gains in energy stocks, while discount store chain Dollarama jumped over 3% after posting a quarterly revenue beat.
The TSX burst out of the starting blocks in the mid-week session, gaining 163.54 points to begin Wednesday at 19,821.07.
The Canadian dollar gained 0.10 cents to 73.65 cents U.S.
Among stocks, brokerage Credit Suisse upgraded its rating on oil transportation firm Enbridge to “neutral” from “underperform”. Enbridge shares took on $1.06, or 2.1%, to $51.02.
Finance Minister Chrystia Freeland on Tuesday presented a budget in parliament that was aimed at attracting investment in the low-carbon economy and also included a “grocery rebate” for 11 million low-income Canadians.
ON BAYSTREET
The TSX Venture Exchange moved higher 1.98 points to 622.57.
All but one of the 12 TSX subgroups were higher, with information technology vaulting 1.6%, while energy and health-care began the day positive 1.3% each.
Only gold was stuck in the cellar, and only 0.4% at that.
ON WALLSTREET
U.S. stocks rose Wednesday as traders looked to recover from a down session, with traders betting the worst is of the banking crisis is over.
The Dow Jones Industrials leaped 217.02 points to 32,611.27.
The S&P 500 recovered 39.76 points, or 1%, to 4,011.03.
The NASDAQ rumbled ahead 156.77 points, or 1.3%, to 11,827.85.
Regional banks rose broadly. Big banks such as Citigroup and Goldman Sachs also advanced.
Big Tech shares also rose, with Meta, Amazon, Netflix and Apple all gaining more than 1%.
Micron shares climbed more than 5% after the chipmaker posted its fiscal second-quarter figures. Other semiconductor names followed Micron higher. Nvidia and AMD both popped more than 1%.
On the economic front, U.S. pending home sales gained 0.8% last month, with sales 21.1% lower than a year earlier. Economists polled by Dow Jones forecast a decline of 3% in February, down from a rise of 8.1% the previous month.
Prices for the 10-year Treasury listed lower, raising yields to 3.58% from Tuesday’s 3.56%. Treasury prices and yields move in opposite directions.
Oil prices added 85 cents to $74.05 U.S. a barrel.
Gold prices gave back $6.40 to $1,984.00 U.S. an ounce.