After retreating in the previous session, Toronto stocks stormed ahead Wednesday, finishing above the 10,000-point plateau for the first time in four-and-half years.
The S&P/TSX composite index gained an impressive 112.29 points, or 1.13%, to close at 10,051.49. The last time the senior exchange closed above 10,000 was October 2000.
Volume on the senior exchange was 215 million shares.
Nine of the 10 TSX main sub-groups advanced today, with energy up 1.71%, the heavily weighted financials sector gaining 1.43%, and information technology ahead 1.28%.
In the day’s biggest news, TD Bank confirmed the sale of its TD Waterhouse USA brokerage division to Ameritrade Holding Corp., in exchange for a 32% ownership stake in the combined company. The new firm is to be known as TD Ameritrade.
As part of the deal, TD Bank Financial Group will acquire Ameritrade’s Canadian brokerage operations for $60 million US in cash. TD was up 84¢, or 1.56%, to close at $54.60 on the TSX.
The price of a barrel of light crude dropped 95¢ settling at US$58.09 on the New York Mercantile Exchange. Despite the fall in oil prices, TransCanada Pipeline gained 60¢, or 1.88%, to close at $32.50, while EnCana moved ahead $1.48, or 2.99%, to close at $50.90.
The junior S&P/TSX Venture composite index finished down 16.20, or 0.94%, to 1,712.79
In economic news, Statistics Canada said the leading index, thought to be an early measure of how the economy is doing, grew by 0.3% in May, bolstered by domestic demand and a rebound in housing.
In New York, the markets were mixed, with the blue chip Dow Jones industrial average slipping 11.74, or 0.11%, to close at 10,587.93.
The tech heavy Nasdaq composite index gained 0.96, or 0.05%, to finish 1,213.88, and the broad based S&P 500 inched up 0.27, or 0.02%, to close at 1,213.88.