Canadian stocks ended higher on Tuesday, tracking rising global equity markets amid buying in resource and financial stocks. Investors weighed some positive macroeconomic data out of the eurozone, with industrial production growth in the area accelerating more than expected. Nonetheless, speculation over possibility of the U.S. Federal Reserve tapering its quantitative easing program and German investor confidence below expectations in May, capped gains.
The S&P/TSX Composite Index closed Tuesday at 12,577.05, up 47.50 points or 0.38 percent. The index touched an intraday high of 12,600.70 and a low of 12,529.41.
The Global Gold Index slipped 0.24 percent, with gold futures for June delivery shedding $9.80 or 0.7 percent to close at $1,424.50 an ounce Tuesday on the Nymex.
The Capped Materials Index added 0.03 percent, with Potash Corporation of Saskatchewan Inc.(POT.TO) adding 1.15 percent.
Among gold stocks, Yamana Gold Inc. (YRI.TO) added 0.93 percent, while Detour Gold Corp. (DGC.TO) slipped 2.80 percent. Eldorado Gold Corp. (ELD.TO) shed 0.54 percent, while Barrick Gold Corp. (ABX.TO) moved up 1.76 percent. IAMGOLD Corp. (IMG.TO) shed 1.81 percent.
The Diversified Metals & Mining Index declined 1.23 percent, with First Quantum Minerals Ltd. (FM.TO) up 0.21 percent, while Lundin Mining Corp. (LUN.TO) fell 1.82 percent. Teck Resources (TCK.B.TO) dropped 2.23 percent, while Osisko Mining Corp. (OSK.TO) inched up 0.23 percent.
The Energy Index added 0.67 percent, with U.S. crude oil futures for June delivery dropping $0.96 or 1.0 percent to close at $94.21 a barrel Tuesday on the Nymex.
Among energy stocks, Suncor Energy Inc. (SU.TO) gained 1.15 percent, while Canadian Natural Resources Limited (CNQ.TO) added 1.22 percent. Encana Corp. (ECA.TO) gathered 1.07 percent, while Canadian Oil Sands Limited (COS.TO) edged down 0.44 percent. RMP Energy Inc. (RMP.TO) gained 4.23 percent.
The Financial Index edged up 0.03 percent, as Manulife Financial Corp. (MFC.TO) added 2.63 percent, Bank of Montreal (BMO.TO) dropped 0.68 percent, TD Bank Group (TD.TO) dropped 0.39 percent, and Royal Bank of Canada (RY.TO) gained 0.31 percent. Bank of Nova Scotia (BNS.TO) dropped 0.42 percent.
The Information Technology Index shed 0.63 percent, with BlackBerry (BB.TO) down 3.05 percent. The smartphone maker dropped after unveiling a new mid-tier smartphone device with a physical keyboard.
The Capped Industrials Index gained 1.83 percent, with Bombardier Inc. (BBD.A.TO, BBD.B.TO) down 1.73 percent and Air Canada (AC.A.TO) gaining 9.50 percent.
Pan American Silver Corp. (PAA.TO) dropped 0.94 percent after reporting first-quarter net earnings that declined to $20.08 million from last year's $50.24 million, with earnings per basic share decreasing to $0.13 from the prior year's $0.47 last year.
Africa focused uranium miner Paladin Energy (PDN.TO) gained 3.37 percent even after reporting a wider third-quarter net loss of $54.1 million compared to a net loss of $17.5 million in the year ago period.
Real estate company Morguard Corp. (MRC.TO) edged down 0.54 percent after reporting first-quarter profit of C$99.6 million or C$7.89 per share, up from C$51.7 million or C$4.00 per share in the comparable quarter last year.
West Africa focused gold miner Semafo Inc. (SMF.TO) plummeted 9.50 percent after slipping into red in first-quarter, reporting net loss of $7.29 million or $0.03 per share, compared to earnings of $28.10 million or $0.10 per share in the same quarter last year. However, on an adjusted basis, the company posted a profit of $19.6 million or $0.07 per share, down from $28.1 million or $0.10 per share a year ago.
Retailer Rona Inc. (RON.TO) shed 4.80 percent after reporting a wider first-quarter net loss of C$22.7 million or C$0.19 per share from C$13.5 million or C$0.11 per share in the same quarter last year. Analysts expected the company to report a loss of C$0.11 per share for the quarter.
Coastal Energy Company (CEN.TO) lost 2.65 percent despite reporting a marginally higher first quarter net income.
In economic news, the U.S. Labor Department said imports prices fell by 0.5 percent in April following a revised 0.2 percent drop in March. Economists had expected import prices to match the 0.5 percent decrease originally reported for the previous month. At the same time, the Labor Department said export prices slid 0.7 percent in April compared to a revised 0.5 percent decrease in March. Export prices had been expected to edge down by 0.1 percent.
From the eurozone, confidence among German investors increased less-than-expected in May as worries over the poor economic situation in area continued to weigh, a survey by the Centre For European Economic Research (ZEW) revealed. The ZEW indicator of economic sentiment rose marginally to 36.4 in May from 36.3 in April. This was notably below the score of 40 forecast by economists. The outcome was, however, better than in March, when the indicator fell by 12.2 points.
Eurozone industrial production growth accelerated more than expected in March, largely due to an increase in energy output. Industrial output advanced 1 percent month-on-month in March, Eurostat reported. The rate of growth was bigger than the 0.3 percent rise seen in February and the 0.5 percent growth forecast by economists.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.