Equities in Canada’s greatest centre rose on Tuesday, paring some of the losses inflicted in the prior two sessions after Britain's shock vote to leave the European Union.
The S&P/TSX Composite gained back 154.28 points, or 1.1%, to greet noon at 13,844.07
The Canadian dollar dropped 0.09 cents to 76.37 cents U.S.
Banks and energy companies, both of which had fallen heavily since Thursday's vote, were leading the rebound in early trade, as investors sought bargains amid the uncertainty created by the so-called Brexit.
The most influential movers on the index included Toronto-Dominion Bank, which rose 1.6% to $55.39, and Suncor Energy, which advanced 2.2% to $35.09.
Gold miners, which had helped limit the TSX's overall losses with strong gains on Friday and Monday, were among the heaviest weights, with Barrick Gold Corp down 2.1% to $27.02 and Goldcorp Inc slipped 1.4% to $23.72.
Aircraft maker Bombardier Inc gained 3.9% to $1.88 after Air Canada said it had finalized a deal to buy 45 of its CSeries jets with an option to purchase another 30.
Shares in Canexus Corp declined 0.8% to $1.29. The chemical company said Canada's antitrust regulator had approved its proposed buyout by rival Superior Plus Corp.
That approval came a day after U.S. antitrust regulators filed a complaint to block the deal, saying the companies were two of the three manufacturers of a chemical needed to whiten wood pulp for paper production.
Shares in Superior Plus advanced 2.3% to $10.42.
ON BAYSTREET
The TSX Venture Exchange gained back 4.61 points to pause for lunch at 707.46
All but one of the 13 subgroups approached noon on the upside, with metals and mining up 3.4%, energy up 2.4%, and health-care, better by 2.1%.
Gold proved the lone laggard, down 0.1%
ON WALLSTREET
U.S. stocks rose Tuesday, amid gains in oil prices, following overseas markets higher after a sharp two-day sell-off on the surprise U.K. vote to leave the European Union.
The Dow Jones Industrials recovered 138.13 points to 17,278.37. Travelers and Home Depot contributed the most to gains in late-morning trade, while DuPont had the greatest negative impact.
The S&P 500 restored 20.13 points, or 1%, at 2,020.58. Health-care and energy stocks led S&P 500 advancers, while the defensive utilities sector traded slightly lower as the greatest decliner.
The NASDAQ Composite Index jumped 64.64 points, or 1.4%, to 4,659.08.
In economic news, the final revision to U.S. first-quarter GDP edged up to 1.1%.
June consumer confidence came in at 98.0 versus 92.4 in May.
Prices for the 10-year Treasury dipped, raising yields to 1.46% from Monday’s 1.45%. Treasury prices and yields move in opposite directions.
Oil prices hiked 80 cents a barrel to $47.13 U.S.
Gold prices fell $7.10 to $1,317.60 U.S. an ounce.
