Markets

TSX Close: TSX Closes Higher as Fed Beige Book Supports Buyers

The Toronto stock market posted solid gains on Wednesday following a positive U.S. private sector hiring report and a Fed Beige Book showing the U.S. economy has expanded since the beginning of the year.

The S&P TSX Composite Index closed up 95 points at 12,831, just off session highs of 12,833.

The materials sector gained more than 3% as gold and mining stocks advanced. Heavily traded B2Gold (BTO.TO) and Kinross (K.TO) rose about 4%.

The tech sector was also higher, paced by BlackBerry (BB.TO), which surged 8%.

Other actively traded stocks included Twin Butte Energy (TBE.TO,-0.5%) and Bombardier (BBD-B.TO, +1.5%).

On the commodities front, April crude fell 39 cents, or 0.4%, to settle at $90.43 a barrel on the New York Mercantile Exchange. Prices recovered from a low of $89.55. April gold settled at $1,574.90 an ounce, unchanged from Tuesday's close.

U.S. stocks posted modest gains, with the Dow Jones Industrial Average hitting a record high for the second straight session.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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