Equities in Toronto rallied by midday Wednesday, owing to a rise in energy stocks that was supported by higher oil prices.
The S&P/TSX Composite Index had recovered 44.54 points to greet noon at 15,643.11
The Canadian dollar eked up 0.04 cents at 74.76 cents U.S.
The energy group rose as Canadian Natural Resources Ltd gained 0.3% to $42.95, and Encana Corp advanced 2.3% to $15.24.
Among financials, Bank of Nova Scotia gained 0.3% to $79.27, but Manulife Financial declined 0.5% to $23.56.
In the industrial sector, Canadian National Railway gave back 0.6% to $98.23, and Canadian Pacific Railway was down 0.7% at $196.07.
ON BAYSTREET
The TSX Venture Exchange regained 1.93 points to pause for noon hour Wednesday at 806.05
Seven of the 12 TSX subgroups were positive midday, with energy sprinting 1.7%, materials better by 0.6%, and gold 0.4% to the good.
The five laggards were led by consumer staples, trailing 0.5%, information technology, down 0.4%, and real-estate, sliding 0.3%.
ON WALLSTREET
U.S. stocks traded mixed Wednesday, with energy leading, as investors digested economic data and the start of the United Kingdom's divorce from the European Union.
The Dow Jones Industrials fell off 53.94 points by noon to 20,647.56, after Tuesday’s 150-point surge. UnitedHealth took the biggest lumps.
The S&P 500 crept to within 0.14 points of breakeven to 2,358.43, with energy rising 1%.
The NASDAQ Composite stayed buoyant 8.46 points to 5,883.60
Stocks are on track to record a mixed month, with the NASDAQ poised for a gain of around 1%, while the S&P and Dow tracked for monthly losses of around 0.2% and 0.7%, respectively.
In economic news, weekly mortgage applications held flat. Pending home sales data showed a 5.5% increase in February.
Britain's ambassador to the EU, Tim Barrow, handed the official letter triggering Article 50 to European Council President Donald Tusk. This commences the country's two-year exit process from the trading bloc.
Prices for the benchmark 10-year Treasury note gained some ground, lowering yields to 2.4% from Tuesday’s 2.42%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 20 cents to $48.57 U.S. a barrel
Gold prices sank $2.60 at $1,253.00 U.S. an ounce.
