Stocks Find Way Upward Tuesday

Equities in Canada’s largest centre managed to hold onto gains by the closing bell Tuesday, helped along by rising oil prices.

The TSX gained 40.32 points to close Tuesday at 20,223.08.

The Canadian dollar inched up 0.12 cents at 73.75 cents U.S.

In company news, energy concerns like Baytex gained 24 cents, or 4.3%, to $5.89, while Precision Drilling flourished $3.93, or 4.2%, to $97.56.

Communications looked back with pride, as Rogers marched ahead 74 cents, or 1.3%, to $54.54, while TELUS added 12 cents to $23.04.

Among consumer stocks, BRP Inc. galloped $1.84, or 1.8%, to $101.85, while Gildan Activewear gathered 46 cents, or 1.2%, to $38.95.

Health-care tailed off, though, as Tilray handed back 53 cents, or 11.9%, to $3.94, while Bausch Health Companies were in minus territory, 20 cents, or 1.7%, to $11.60.

Among tech concerns, Coveo Solutions lost 43 cents, or 3.9%, to $10.75, while Softchoice lost 38 cents, or 2.5%, to $15.06.

Real-estate were feeling around for the bruises, as units H & R REIT spilled 18 cents, or 1.8%, to $10.12, while Granite REIT dipped $1.25, or 1.7%, to $73.44.

Meanwhile, the Globe and Mail a top lobbying group for the Canadian banking industry slammed the federal government's proposals to levy huge taxes on the country's financial sector and said the policy could hurt lending.


The TSX Venture Exchange dipped 4.08 points to 576.79.

The 12 TSX subgroups were evenly split, with energy gaining 2.1%, communications beaming higher 0.7%, and consumer discretionary stocks soared 0.5%.

The half-dozen laggards were weighed most by health-care, down 3.6%, information technology, off 1%, and real-estate, falling 0.7%.



The NASDAQ Composite fell Tuesday after Oracle shares plunged on disappointing results, and tech stocks came under pressure.

The Dow Jones Industrials eased into the red 17.73 points to end Tuesday at 34,645.99

The S&P 500 index let go of 25.56 points to 4,461.90.

The NASDAQ index collapsed 144.28 points, or 1%, to 13,773.61.

Oracle was the worst performer in the S&P 500, sliding 13.5% after sales last quarter fell short of estimates and the company’s revenue forecast also disappointed. Other cloud competitors — including Amazon, Google-parent Alphabet and Microsoft — also slid.

Apple shares were lower by nearly 1.8% after the unveiling of a new iPhone model this afternoon. Meanwhile, Adobe shares also dropped about 4% ahead of the company’s earnings results this week.

Elsewhere, U.S. crude prices touched the highest level since November of last year as OPEC on Tuesday kept to a robust demand growth forecast this year and next. West Texas Intermediate crude oil futures rose to nearly $89 a barrel, up from around $66 a barrel in March.

Energy stocks got a boost. Shares of Chevron picked up 1.9%, and Exxon Mobil was higher by about 2.9%.

Much attention is focused on key inflation data due later in the week, with the consumer price index expected Wednesday and the producer price index slated for Thursday.

Prices for the 10-year Treasury skidded, raising yields to 4.27% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.

Oil prices boomed higher $1.64 to $88.93 U.S. a barrel.

Gold prices stumbled $11.50 to $1,935.70 U.S. an ounce.