Toronto stocks added to yesterday’s gains Tuesday getting a lift from beaten up mining and energy shares. At midday the S&P/TSX composite index was up 81.70 points, or 0.88%, at 9,412.63.
Volume was 136 million shares.
Six of the 10 TSX main groups were higher.
Energy stocks were boosted by oil prices that edged above US$51 a barrel after a two-week price tumble on higher crude stocks. Crude futures also climbed on a rally in U.S. gasoline prices. The TSX’s energy group climbed 2.55%.
Husky Energy , which reported better-than-expected earnings late on Monday, was up 68¢, or 1.88%, at $36.93.
The materials group was up 1.85% as gold and base-metal prices, also hit last week on fund-selling, trended higher. The gold mining sub-group rose 1.94%.
Iamgold climbed 53¢, or 7.666%, to $7.45 and uranium miner Cameco was up $2.65, or 5.64%, at $49.60. Algoma Steel Inc. was up 95¢, or 3.47%, at $28.35.
Industrial shares were also higher, rising 1.46%, but holding back overall advances was a 0.11% decline by the influential financial group.
The junior S&P/TSX Venture composite index was up 30.68 points, or 1.81%, at 1,730.36. Volume was 29 million shares.
In New York, U.S. stocks were lifted by solid as earnings reports from Coca-Cola and Texas Instruments .
At midday, the Dow Jones industrial average was up 61.04 points, or 0.61%, at 10,132.29.
The S&P 500 Index was up 6.51 points, or 0.73%, at 1,152.49. The tech-heavy Nasdaq composite index was up 13.95 points, or 0.69%, at 1,926.87.
Before the market opened, the government reported a mild 0.1% gain for March in its core Producer Price Index for March that excludes volatile food and energy prices. The data eased worries that the economy is moving at a pace that would make inflation worse and prompt the Federal Reserve to raise interest rates faster than expected.