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Toronto Market Finishes in Green

Baystreet.ca
Stocks in Canada’s largest market stayed afloat by the closing bell, as health-care again proved the ...

Stocks in Canada’s largest market stayed afloat by the closing bell, as health-care again proved the champion.

The S&P/TSX Composite Index grew 56.87 points to close Tuesday at 15,274.57

The Canadian dollar sank 0.12 cents to 76.16 cents U.S.

The health-care sector was helped by a 1% rise in Bausch Health Companies Inc., after the company topped revenue expectations.

Bausch shares galloped $1.48, or 4.4%, to $34.93.

Elsewhere in the sector, Aphria shares took on 46 cents, or 2.9%, to $16.42.

In utilities, Fortis climbed 43 cents, or 1%, to $44.22, while Hydro One gained 13 cents to $19.69.

In the real estate sector, Colliers International Group leaped $1.71, or 1.9%, to $89.98.

Gold stocks sagged somewhat, as Barrick Gold gave back seven cents to $17.24, while Goldcorp lost 11 cents to $12.32.

In communications stocks, BCE dipped 20 cents to $52.95, while Rogers Communications fell 29 cents to $66.41.

Toromont Industries Ltd fell $2.53, or 4%, to $60.03, after reporting quarterly results that missed estimates.

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.

ON BAYSTREET

The TSX Venture Exchange gained 6.36 points, or 1%, to conclude Tuesday at 667.52

Seven of the 12 subgroups moved back into positive territory, with health-care concerns going 3.4% higher, utilities strengthening 1.4%, and real-estate up 1.2%.

The five laggards were weighed most by gold stocks, down 0.6%, while communications lost 0.3%, and industrials shed 0.2%.

ON WALLSTREET

Stocks rose on Tuesday as investors eagerly awaited the results of much-anticipated midterm elections which could have significant implications for investors.

The Dow Jones Industrials strengthened 173.31 points to 25,635.01, led by gains in IBM and Caterpillar.

The S&P 500 gained 17.14 points to 2,755.45, as the industrials and materials sectors outperformed.

The NASDAQ gained 47.11 points to 7,375.96

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.

Investors also looked ahead to the Federal Reserve's latest decision on monetary policy, which is scheduled for Thursday. The Fed is largely expected to keep rates unchanged, but investors will pore through the statement for clues about the central bank's December meeting.

Prices for the benchmark for the 10-year U.S. Treasury were lower, raising yields to 3.22% from Monday’s 3.20%. Treasury prices and yields move in opposite directions.

Oil prices remained negative 95 cents to $62.15 U.S. a barrel.

Gold prices slipped $4.50 an ounce to $1,227.80 U.S.