Stock markets in Toronto rose on Wednesday as energy stocks kicked into high gear.
The S&P/TSX Composite Index leaped 95.14 points to conclude Wednesday at 15,244.74
The Canadian dollar spiked 0.22 cents to 79.40 cents U.S.
Several energy stocks were among the most influential index movers and helped hoist the overall energy group. Crescent Point Energy ballooned 77 cents, or 8.5%, to $9.82, while Suncor Energy rose 84 cents, or 2.2%, to $38.59.
Telecoms prospered, too, as Rogers Communications galloped $1.00, or 1.6%, to $63.96, while BCE moved up 17 cents to $58.29.
Saputo shares jumped $2.03, or 5%, to $42.45 after RBC raised the dairy producer's rating to "outperform" from "market perform", helping the consumer staples group rise.
Elsewhere in consumer staples, Maple Leaf Foods gained 21 cents to $32.99.
Canada's largest railways edged lower, dragging the overall industrials group down. Canadian National Railways plunged $1.66, or 1.6%, to $103.94.
Canadian Pacific Railway, which plummeted $2.69, or 1.3%, at $203.60, will be reporting quarterly results after markets close.
In the health-care sector, Concordia International dropped eight cents, or 4%, to $1.90.
On matters macroeconomic, Statistics Canada reported that manufacturing in Canada jumped for the third consecutive month, up 1.1% to $54.6 billion in May, which the agency attributes to higher sales in the transportation equipment and chemical manufacturing industries.
ON BAYSTREET
The TSX Venture Exchange gained 2.24 points to 765.95
All but two of the 12 TSX subgroups were positive on the day, with energy gushing 3%, telecoms climbing 0.9%, and consumer staples grew 0.8%.
The two laggards were industrials, down 0.5%, and health-care, down 0.1%
ON WALLSTREET
Equities in the United States traded at new all-time on Wednesday as investors digested key housing data and more quarterly earnings.
The Dow Jones Industrials soared 66.02 points Wednesday to 21,640.75, a new peak, with Boeing contributing the most gains.
The S&P 500 gained 13.22 points to another closing high of 2,473.83, with energy rising 1% to lead advancers. Vertex Pharmaceuticals led the index higher, rising 21%
The NASDAQ jumped 40.74 points to 6,385.04, also a record high.
Morgan Stanley reported better-than-expected second-quarter results across the board, with trading revenue coming in above expectations. Other banks like Citigroup, Goldman Sachs and JPMorgan Chase saw their trading businesses struggle last quarter.
Dow-component IBM reported mixed quarterly results, with earnings per share topping expectations and sales disappointing. The company also said its revenue declined for the 21st straight quarter, pushing the stock down by 2.7% and capping gains on the price-weighted Dow.
IBM is the fifth-largest Dow component by share price.
Of the 53 S&P 500 components that had reported as of Tuesday morning, 77% exceeded earnings expectations while 75% topped on revenue
In economic news, housing starts jumped 8.3% last month, hitting their highest level since February. Mortgage applications, meanwhile, rose 6.3%.
Prices for the benchmark 10-year Treasury note slumped a bit Wednesday, raising yields to 2.27% from Tuesday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices took on 71 cents to $47.11 U.S. a barrel
Gold prices fell 90 cents to $1,241.00 U.S. an ounce.
