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Solid Start to Tuesday Markets
Equities in Canada’s largest market opened higher on Tuesday, driven by gains in shares of energy and ...

Equities in Canada’s largest market opened higher on Tuesday, driven by gains in shares of energy and material companies.

The S&P/TSX Composite Index came out of the blocks on Tuesday ahead 66.7 points to 15,284.40

The Canadian dollar faded 0.07 cents to 76.2 cents U.S.

Thomson Reuters on Tuesday reported a smaller-than-expected fall in third-quarter earnings and said it was on track for a solid 2018 and a better performance in 2019.

Thomson shares gained 70 cents, or 1.2%, to $60.98.

Randgold Resources said on Tuesday its third-quarter profit rose 25% over the previous quarter, helped by lower costs, a day before its shareholders vote on a $6.1 billion tie-up with Barrick Gold, whose shares backtracked 18 cents, or 1%, to $17.13.

Nutrien reported a better-than-expected quarterly profit and raised its full-year adjusted profit forecast, driven by strong demand for its potash fertilizers. Nutrien shares rocketed $2.64, or 3.7%, to $74.11.

Raymond James raised the rating on Baytex Energy to outperform from market perform. Baytex shares retreated five cents, or 1.7%, to $2.85.

TD Securities raised the rating on Dorel Industries to hold from reduce. Dorel shares gained 13 cents to $21.20.

CIBC raised the rating Interfor to outperform from neutral. Interfor shares dipped three cents to $17.09.

CIBC cut the rating on Sleep Country Canada Holdings to neutral from outperform. Sleep Country stock got out of bed, its shares rising 30 cents, or 1.3%, to $23.70, after a rough day on Monday.

CIBC raised the rating on West Fraser Timber outperform from neutral. West Fraser sank 37 cents to $70.76.

In the economic docket, Statistics Canada reported that municipalities nationwide issued $8.1 billion worth of building permits in September, up 0.4% from August. The national increase was driven by higher construction intentions in Quebec.


The TSX Venture Exchange gained 2.96 points to 662.32

All but three of the 12 subgroups were gainers, as health-care stocks zoomed 2.5%, while information technology clicked 1% higher, and energy strengthened 0.8%.

The three laggards were communications, down 0.3%, financials, sliding 0.2%, and gold, down 0.04%.


Stocks rose slightly on Tuesday as investors eagerly awaited the results of much-anticipated midterm elections.

The Dow Jones Industrials gained 55 points to 25,516.70, led by Caterpillar and Apple.

The S&P 500 gained 10.9 points to 2,749.21, as the industrials and tech sectors outperformed.

The NASDAQ recovered 58.35 points to 7,387.20

Democrats are expected to take control of the House away from Republicans while the GOP maintains a slim majority in the Senate. Stocks have historically done well under a divided government. Since 1928, the S&P 500 has averaged an annual return of 12% when Congress is split and Republicans control the White House.

The Democrats were leading with a seven-point advantage ahead of the vote, according to polls out Sunday. Data released on Monday showed that more than 35 million people have already cast their vote in early voting, indicating a record turnout for the 2018 midterms. In 2014, fewer than 20 million early votes were counted the day prior to the midterms.

Prices for the benchmark for the 10-year U.S. Treasury were unchanged, keeping yields at Monday’s 3.20%.

Oil prices dipped two cents to $63.08 U.S. a barrel.

Gold prices slipped 60 cents an ounce to $1,231.70 U.S.