Canadian stocks closed higher for a fifth straight day on Tuesday, supported mainly by energy stocks after some encouraging earnings reports and some mixed manufacturing data from China, Europe and the U.S. While the manufacturing sector growth slowed in U.K., manufacturing activity in China and the US accelerated in April.
Toronto's main index, the S&P/TSX, closed Tuesday at 12,332.79, up 40.10 points or 0.33 percent. The S&P/TSX Composite Index touched an intraday high of 12,364.59 and a low of 12,292.72.
The TSX Venture Index closed at 1,431.68, up 7.64 points or 0.54 percent. The index opened at 1,424.27 compared to its previous close of 1,424.04.
The major gainers in the S&P/TSX Index were the Energy Index up 1.23 percent, the Diversified Metals & Mining Index 0.68 percent, the Materials Index 0.63 percent, and the Global Gold Index up 0.23 percent.
The major decliners included the Information Technology Index down 2.36 percent, the Financial Index down 0.43 percent, and the Telecommunications Index down 0.30 percent.
Among mining stocks, First Quantum Minerals Ltd. (FM.TO) shed 0.24 percent and Lundin Mining Corp. (LUN.TO) moved down 3.75 percent. Belo Sun Mining Corp. (BSX.TO) gained 7.14 percent.
Financial stocks continued to be under pressure with Toronto-Dominion Bank (TD.TO) dropping 0.61 percent, Royal Bank of Canada (RY.TO) down 0.42 percent, and Bank of Nova Scotia (BNS.TO) slipping 0.73 percent.. Manulife Financial Corporation (MFC.TO) dropped 1.48 percent.
Crude oil prices gained $1.29 or 1.2 percent to close at $106.16 a barrel on the NYMEX Tuesday after some encouraging manufacturing data from the U.S.
Among energy stocks, Encana Corp. (ECA.TO) moved up 2.90 percent and Canadian Natural Resources Limited (CNQ.TO) added 1.11 percent.
Suncor Energy (SU.TO) gained 0.95 percent after reporting first quarter net earnings of C$1.457 billion or C$0.93 per share, compared to C$1.028 billion or C$0.65 per share in the year-ago quarter.
Meanwhile, Talisman Energy (TLM.TO) shed nearly 3 percent after reporting a swing to profit in first quarter, with a net profit of $291 million or $0.25 per share compared to a loss of $326 million or $0.32 per share a year ago. Earnings from operations were $0.16 per share, up from $0.15 per share in the same quarter a year earlier.
Oil and gas industry services provider HSE Integrated Ltd. (HSL.TO) skyrocketed over 55 percent after announcing it would be acquired by DXP Enterprises, Inc. for C$84 million or C$1.80 per share.
Gold prices shed $1.80 or 0.1 percent to close at $1,662.40 an ounce Tuesday on the NYMEX, as the dollar continued to strengthen against most major currencies.
Among gold stocks, Torex Gold Resources Inc. (TXG.TO) rose 2.33 percent, Kinross Gold Corp. (K.TO) gained 0.11 percent, while Eldorado Gold Corp. (ELD.TO) lost 0.64 percent. Lake Shore Gold Corp. (LSG.TO) jumped 9.38 percent, while Barrick Gold Corp. (ABX.TO) shed 0.18 percent.
The Materials Index moved up with Mercator Minerals Ltd. (ML.TO) surging over 10.00 percent, Uranium One Inc. (UUU.TO) gaining 2.79 percent, and Potash Corporation of Saskatchewan Inc. (POT.TO) adding 2.93 percent.
Transportation systems maker Bombardier (BBD.B.TO) edged up 0.48 percent.
In corporate news, Ecopetrol S.A. (ECP.TO) soared over 8 percent after reporting first-quarter unconsolidated net income of COL$4,343.1 billion or COL$105.63 per share, compared to COL$3,404.6 billion or COL$84.12 per share last year.
Uranium producer Cameco (CCO.TO) gained 2.79 percent after reporting a profit of $132 million or $0.33 per share compared to $91 million or $0.23 per share last year. On an adjusted basis, earnings were $124 million or $0.31 per share, up from $85 million or $0.21 per share a year ago.
Airlines operator Westjet Airlines (WJA.TO) added 1.41 percent after reporting first quarter net earnings of C$68.3 million or C$0.49 per share, while analysts estimated a loss of C$0.39 per share.
Information services provider Thomson Reuters Corp. (TRI.TO) gathered 0.88 percent after posting higher first-quarter net earnings of $314 million or $0.38 per share versus $250 million or $0.30 per share. Adjusted earnings from continuing operations advanced to $365 million or $0.44 per share, from $307 million or $0.37 per share last year. Analysts were expected a loss of C$0.41 per share for the quarter.
Forest products company West Fraser Timber (WFT.TO) posted a first-quarter loss of C$16.7 million or C$0.39 per share compared to earnings of C$18.9 million or C$0.44 per share last year. Adjusted loss from continuing operations was C$11 million or C$0.26 per basic share compared to earnings of C$39 million or C$0.91 per share last year. Analysts were expecting the company to report loss of C$0.11 per share for the quarter. The stock was down 1.45 percent.
Smart phone maker Research In Motion (RIM.TO) unveiled its vision for the BlackBerry 10 platform at the BlackBerry World conference in Orlando, Florida and released the initial developer toolkit for native and HTML5 software development. The stock was down almost 6 percent.
In economic news, activity in the U.S. manufacturing sector unexpectedly expanded at a faster rate in April, a report by the Institute for Supply Management showed on Tuesday. The index of activity in the sector rose to a ten-month high with the purchasing managers index climbing to 54.8 in April from 53.4 in March. A reading above 50 indicates an expansion in manufacturing activity. Economists expected the index to edge down to a reading of 53.0.
Separately, the U.S. Commerce Department said overall construction spending came in at a seasonally adjusted annual rate of $808.1 billion in March, a 0.1 percent increase from February levels.
China's manufacturing activity accelerated in April for a fifth consecutive month, led by an expansion in production and new export orders, a survey by the China Federation of Logistics and Purchasing (CFLP) showed Tuesday.
The official purchasing managers' index by CFLP on behalf of the National Bureau of Statistics, rose to 53.3 in April from 53.1 in March. Economists had forecast an increase to 53.6. A PMI reading above 50 indicates expansion of the sector and a reading below 50 suggests contraction.
In economic news from Europe, the UK's manufacturing sector growth slowed in April amid sharp decline in new export orders, a survey by Markit Economics revealed. The Markit/Chartered Institute of Purchasing & Supply purchasing managers' index for the factory sector fell to 50.5 in April from a revised 51.9 in March. Economists expected a reading of 51.5, down from March's initial score of 52.1.
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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.