(RTTNews.com) - The Canadian stock market has been fluctuating between small gains and losses since the open of trade Tuesday. A rebound in commodity prices is providing a boost to shares of gold and energy stocks this morning.
Markets in Europe are turning in a mixed performance. Early gains have begun to erode in the afternoon, following a lackluster open on Wall Street.
Markets on Wall Street opened slightly higher Tuesday, but have since slipped back near the flat line. Traders are reacting to another large batch of corporate earnings this morning.
The benchmark S&P/TSX Composite Index is down 4.08 points or 0.03 percent at 15,547.98.
On Monday, the index closed up 67.74 points or 0.44 percent, at 15,552.06. The index scaled an intraday high of 15,582.28 and a low of 15,495.92.
The Capped Healthcare Index is higher by 1.46 percent. Valeant Pharmaceuticals International (VRX.TO) is climbing 1.11 percent.
The Gold Index is increasing 1.06 percent. Gold prices are slightly higher Tuesday, having slipped to a monthly low in the previous session.
Yamana Gold (YRI.TO) is up 1.08 percent and IAMGOLD (IMG.TO) is increasing 0.72 percent. Goldcorp (G.TO) is rising 1.38 percent and Kinross Gold (K.TO) is climbing 1.21 percent. B2Gold (BTO.TO) is up 0.84 percent.
Barrick Gold (ABX.TO) is advancing 3.44 percent after it reported a profit for first quarter that dropped from last year. However, the result topped estimates slightly.
The Capped Materials Index is up 0.87 percent. Nutrien (NTR.TO) is gaining 0.07 percent.
The Energy Index is rising 0.57 percent. Crude oil prices are higher Tuesday, staying near the highest since 2014 amid speculation OPEC will continue to reduce supplies.
Crescent Point Energy (CPG.TO) is rising 2.05 percent and Suncor Energy (SU.TO) is up 0.59 percent. Encana (ECA.TO) is climbing 0.79 percent and Canadian Natural Resources (CNQ.TO) is gaining 0.72 percent. Cenovus Energy (CVE.TO) is advancing 0.65 percent and Husky Energy (HSE.TO) is adding 0.16 percent.
The Capped Information Technology Index is gaining 0.40 percent. Sierra Wireless (SW.TO) is rising 0.95 percent and BlackBerry (BB.TO) is advancing 0.37 percent.
The heavyweight Financial Index is increasing 0.25 percent. Bank of Montreal (BMO.TO) is gaining 0.61 percent and Royal Bank of Canada (RY.TO) is advancing 0.01 percent. National Bank of Canada (NA.TO) is up 1.02 percent and Toronto-Dominion Bank (TD.TO) is climbing 0.44 percent. Bank of Nova Scotia (BNS.TO) is rising 0.59 percent and Canadian Imperial Bank of Commerce (CM.TO) up 0.03 percent.
The Capped Industrials Index is up 0.18 percent. Canadian Pacific Railway (CP.TO) is increasing 0.07 percent and Finning International (FTT.TO) is adding 2.95 percent. Air Canada (AC.TO) is climbing 1.21 percent and WestJet Airlines (WJA.TO) is higher by 0.52 percent.
Canadian National Railway (CNR.TO) is rising 0.35 percent after it said its first quarter profit fell 16% on higher expenses.
The Capped Telecommunication Services Index is up 0.10 percent. TELUS (T.TO) is gaining 0.15 percent and BCE (BCE.TO) is higher by 0.17 percent. Rogers Communications (RCI-B.TO) is rising 0.13 percent.
Tim Hortons parent Restaurant Brands International (QSR.TO) is climbing 3.58 percent. The company reported downbeat first quarter sales amid bad publicity for the coffee and sandwich chain about treatment of workers.
Yesterday, Restaurant Brands was downgraded by equities research analysts at BMO Capital Markets to a "market perform" rating from an "outperform" rating previously. BMO cited Tim Hortons turmoil.
Teck Resources (TCK-B.TO) is gaining 1.57 percent after its first quarter profit beat expectations.
On the economic front, German business confidence deteriorated more-than-expected to a 13-month low in April on trade tensions, survey data from the Munich-based Ifo Institute showed Tuesday. The business sentiment index fell to 102.1 from 103.3 a month ago. This was the lowest reading since March 2017, when the reading was 101.3. The score was forecast to drop moderately to 102.8.
France's manufacturing confidence declined in April, survey data from the statistical office Insee showed Tuesday. The manufacturing sentiment index fell to 109 in April from 110 in March. The reading was expected to remain unchanged at 110. Nonetheless, the score was above its long-term average of 100.
The UK budget deficit decreased to its lowest March level since 2004, the Office for National Statistics said Tuesday. Public sector net borrowing, excluding public sector banks, decreased by GBP 0.8 billion to GBP 1.3 billion in March. This was the lowest March net borrowing since 2004.
In commodities, crude oil futures for May delivery are up 0.27 or 0.39 percent at $68.91 a barrel.
Natural gas for May is up 0.029 or 0.07 percent at $1.06 per million btu.
Gold futures for June are up 6.30 or 0.48 percent at $1,330.30 an ounce.
Silver for May is up 0.093 or 0.56 percent at $16.68 an ounce.
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