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TSX Slightly in Green

Baystreet.ca
Canada's main stock index narrowly maintained gains by noon hour ET on Tuesday, driven by gains in shares ...

Canada's main stock index narrowly maintained gains by noon hour ET on Tuesday, driven by gains in shares of health-care and material companies.

The S&P/TSX Composite Index was positive but 13.4 points to greet noon at 15,231.10

The Canadian dollar sank 0.14 cents to 76.14 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 $1.36, or 4.1%, to $34.81.

Also helping materials stocks were shares of fertilizer and farm supplies dealer Nutrien Ltd, which rose $3.36, or 4.7%, to $74.83, after reporting quarterly profit beat and raising its full-year earnings target, driven by strong demand for its potash fertilizers.

Top percentage gainers on the TSX were Great Canadian Gaming Corp, which jumped $5.01, or 11.8%, to $47.51, after reporting quarterly results.

Second biggest percentage gainer was shares of Maxar Technologies, which rose 23 cents, or 1%, to $22.63, after signing a contract extension with the U.S. National Reconnaissance Office.

Toromont Industries Ltd fell $2.83, or 4.5%, to $59.73,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 8.16 points, or 1.2%, to 667.52

Seven of the 12 subgroups were had faded into the red, with communications down 0.5%, while financials and industrials each off 0.4%.

The five gainers were led by health-care, leaping 4.8%, while real-estate picked up 1%, and consumer discretionaries improved 0.6%.

ON WALLSTREET

Stocks rose slightly 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 114.8 points to 25,576.50, led by gains in Caterpillar and IBM.

The S&P 500 gained 9.77 points to 2,748.08, as the industrials and materials sectors outperformed.

The NASDAQ recovered 36.65 points to 7,365.50.

But gains were muted as investors waited for more clarity on the election before placing major bets on stocks.

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 lower, raising yields to 3.21% from Monday’s 3.20%. Treasury prices and yields move in opposite directions.

Oil prices dipped $1.56 to $61.54 U.S. a barrel.

Gold prices slipped $3.80 an ounce to $1,228.50 U.S.