Gains Reported on Both Sides of Border
Equities in Canada’s largest centre enjoyed respectable gains Tuesday, as strength in the energy and consumer stocks sectors powered the rise.
The TSX Composite Index climbed 50.51 points to close Tuesday at 26,426.31.
The Canadian dollar stepped forward 0.13 cents to 73.11 cents U.S.
Health-care stocks particularly stood out, with Tilray picking up three cents, or 5.5%, to 58 cents, or Bausch Health Companies moved 29 cents higher, or 4.4%, to $6.95.
In consumer staples, Alimentation Couche-Tard hiked $2.55, or 3.6%, to $74.32, while Saputo strengthened 49 cents, or 1.8%, to $27.05.
In energy stocks, Baytex took on 16 cents, or 6.4%, to $2.66, while Vermilion Energy grabbed 47 cents, or 4.7%, to $10.46.
Gold, however, weighed things down, as Centerra Gold dropped 29 cents, or 2.9%, to $9.64, while Eldorado Gold removed 66 cents, or 2.3%, to $28.44.
In materials, SSR Mining doffed 63 cents, or 3.6%, to $16.88, while NGEX retreated 33 cents, or 2.1%, to $15.65.
In industrials, Bombardier docked $1.91, or 1.8%, to $104.11, while WSP Global forfeited $3.38, or 1.2%, to $271.88.
ON BAYSTREET
The TSX Venture Exchange sank 8.6 points, or 1.2%, to 717.30.
All but three of the 12 TSX subgroups pointed northward, led by health-care, up 2%, while consumer staples shone 1.6%, and energy rumbled 1.1%.
The three laggards were gold, dulling in price 1.5%, materials, dwindling 1.1%, and industrials, off 0.04%.
ON WALLSTREET
Stocks climbed on Tuesday as investors hoped for a positive resolution on trade discussions between the U.S. and China.
The Dow Jones Industrials gained 105.11 points to 42,866.87.
The S&P 500 index added 32.93 points to 6,038.81.
The NASDAQ Composite headed higher 123.75 points to 19,714.99.
Talks between U.S. and Chinese officials in London are continuing for the second day. U.S. Commerce Secretary Howard Lutnick said on Tuesday that the discussions are “going well, and we’re spending lots of time together” and that he expected talks to go on all day.
Traders are monitoring the discussions for signs of a deal that doesn’t involve the countries enforcing lofty tariffs on one another.
Both nations agreed last month to slash their duties temporarily, which was seen as a major breakthrough in trade negotiations after U.S. President Donald Trump unveiled his plan for broad and steep levies on imports.
OpenAI will add Alphabet’s Google cloud service in a deal that was finalized in May. Under the deal, Google’s cloud unit will supply additional computing capacity for OpenAI’s existing infrastructure for training and running its AI models.
Google shares gained $2.38, or 1.3%, to $180.01.
Tesla stock could come under pressure due to poor fundamentals, according to Wells Fargo. Tesla shares galloped $17.51, or 5.7%, to $326.09.
Prices for the 10-year Treasury gained slightly, lowering yields to 4.47% from Monday’s 4.49%. Treasury prices and yields move in opposite directions.
Oil prices retreated 39 cents to $64.70 U.S. a barrel.
Gold prices lost $5.40 to $3,349.50 U.S. an ounce.
