Canadian stocks rallied Tuesday after the long holiday weekend
The S&P/TSX Composite index leaped 176.29 points, or 1.5%, to greet noon at 11,838.88
The Canadian dollar moved higher 0.35 cents Tuesday morning to 100.33 cents U.S.
Top percentage gainers among commodity companies were Ivanhoe Mines up 5.5%, class B shares of Teck Resources adding 4.3%, and Second Wave Petroleum jumping 10.5%.
Supporting the technology sector, shares of BlackBerry maker Research in Motion rose 5.2%.
Among stocks to watch this morning, Enbridge Inc. plans to restart a pipeline that leaked more than 1,000 barrels of crude onto a Wisconsin field after receiving the green light from U.S. regulators. Enbridge shares gained 0.2% to $39.94.
BHP Billiton is in talks with mining and retail group Harry Winston about a sale of its diamond business, according to the Financial Times. Winston shares picked up 2% to $13.02.
Economically speaking, Statistics Canada reported a slump in residential building permits in June, the number falling 2.5% to $6.8 billion, after a 7.1% increase in May. Slumps in the number of permits in Alberta and B.C. proved the main culprits.
The TSX Venture Exchange gained 5.38 points to 1,192.33. The Nasdaq Canada index added 1.86 points to 346.85.
All 14 Toronto subgroups were positive by lunch time, led by metals and mining issues, up 4%, global base metals, ahead 3.2%, and energy, gaining 2.7%.
U.S. stocks rose Tuesday, extending gains for a third day, as investors continue to bet global central banks will step in to support the market.
The Dow Jones industrial average prospered 84.27 points, to break for lunch at 13,201.78
The S&P 500 increased 11.5 points to 1,405.23. The Nasdaq tacked on 33.90 points to 3,023.81
JPMorgan and Bank of America were the best performers on the Dow.
The gains came despite another black eye for the financial services industry. On Monday, banking regulators in New York accused U.K.-based banking group Standard Chartered with helping Iran avoid sanctions by concealing $250 billion U.S. worth of transactions over nearly 10 years.
Pfizer dragged on the blue-chip index after the drugmaker discontinued clinical studies on an Alzheimer drug it was developing with a subsidiary of Johnson & Johnson
Separately, the Securities and Exchange Commission charged Pfizer with violating the Foreign Corrupt Practices Act by bribing doctors and government officials in several overseas markets.
Shares of Fossil climbed after the fashion accessories retailer's second-quarter profit jumped 12% and topped forecasts.
Chesapeake Energy, which has been in the spotlight amid takeover chatter and a management shakeup, posted second-quarter revenue that topped expectations.
Economically speaking, the U.S. Federal Reserve will release data on June consumer credit at 3 p.m. ET, figures which are expected to have expanded by $10 billion U.S. versus the month prior, according to a survey of analysts by Briefing.com.
The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.63% from 1.56% late Monday. Treasury prices and yields move in opposite directions.
Oil for September delivery jumped $1.17 to $93.37 U.S. a barrel.
Gold futures for August delivery fell $1.60 to $1,614.60 U.S. an ounce.