Strong Start for TSX

Equities in Canada’s largest centre opened higher on Tuesday as energy shares were buoyed by higher crude prices and precious metal miners were supported by rising gold prices.

The S&P/TSX Composite Index shot out of the blocks to gain 54.58 points to begin Tuesday at 15,433.20

The Canadian dollar regained 0.06 cents to 75.47 cents U.S.

M2 Cobalt Corporation said on Tuesday that its initial drilling indicates that there may be more cobalt in Uganda than previously thought. M2 shares were fixed at 24 cents.

Mitsubishi Aircraft on Monday accused Bombardier of using "anti-competitive conduct" to limit competition for planes with less than 100 seats, as the Japanese company works to bring its long-delayed regional jet to market. Shares in Bombardier added a penny to $1.96.

Desjardins raised the rating on IAMGOLD to buy from hold. IAMGOLD shares popped 20 cents, or 4.4%, to $4.68.

BMO cut the price target on Saputo to $43.00 from $44.00. Saputo dropped six cents to $38.47.

Desjardins cut the rating on SNC-Lavalin Group to hold from buy. SNC shares galloped 59 cents, or 1.7%, to $35.60, after being bludgeoned 28% Monday.

ON BAYSTREET

The TSX Venture Exchange gained 3.28 points to 618.06

All but three of the 12 TSX subgroups started out the session positive, as gold heightened 1.3%, while energy and materials stocks each added 1.1%.

The three laggards were consumer discretionary and communications stocks, each down 0.2%, while consumer staples eased back 0.1%.

ON WALLSTREET

Main stock indexes stateside rose on Tuesday as Wall Street awaited the latest quarterly results from tech giant Apple.

The Dow Jones Industrials recovered 120.17 points to follow Tuesday’s opening bell at 24,648.39,

The S&P 500 forged ahead 5.08 points to 2,648.39,

The NASDAQ Composite dropped 5.15 points to 7,080.54,

Apple shares gained 1.1% ahead of the company’s report, which is scheduled for release after the close. The report comes after the iPhone maker slashed its revenue guidance for the previous quarter earlier this month, citing weaker growth in China.

We are in the busiest week of the current earnings season. When the dust settles, more than 100 companies in the S&P 500 will have posted their quarterly results. Through Tuesday morning, more than 70% of the companies that have reported have beaten analyst expectations.

3M was among the companies that posted better-than-expected earnings on Tuesday, sending its stock up 1% before the bell. Allergan, Verizon and Biogen also posted stronger-than-forecast profits, but their shares fell. Pfizer shares gained 0.4% on earnings.

The moves Tuesday come after the major indexes fell sharply on the back of disappointing guidance from Caterpillar and Nvidia. Both companies cited slowing growth in China for their forecasts.

Prices for the benchmark for the 10-year U.S. Treasury gained a bit of territory, easing yields to 2.73% from Monday’s 2.74%. Treasury prices and yields move in opposite directions.

Oil prices regained $1.45 to $53.44 U.S. a barrel.

Gold prices acquired three dollars to $1,306.10 U.S. an ounce.