Canada’s main stock market closed higher for the second straight day Tuesday, outperforming most other major markets in a broad-based advance paced by energy. The S&P/TSX Composite Index gained 103 points or 0.7% to close at 15,143.
The energy sector gained 1.4%, while materials were up 0.8% and financials rose 0.7%. Only utilities were in negative territory.
In stock news, Home Capital Group (HCG.TO) shares gained nearly 2% after shareholders voted against Warren Buffett’s additional investment in the alternative mortgage lender, keeping the legendary investor’s stake at 19.99%. At a special meeting, more than 88% of shareholders voted against Buffett’s Berkshire Hathaway acquiring 24 million more shares, which would have raised his stake in the company to around 40%. Lithium stocks were heavily traded, with Lithium Americas (LAC.TO) losing nearly 10% and Nemaska Lithium (NMX.TO) falling 4%. Bombardier (BBD-B.TO) gained 0.6% after stating that over the next 20 years, the global market for planes it produces will be worth $820 billion. Suncor Energy (SU.TO), one of the day’s most influential shares, gained 1.4%.
The Canadian economic docket was quiet Tuesday. The Teranet/National Bank Home Price Index for August is due Wednesday.
The Canadian dollar lost half-a-cent to 82.09 US.
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