Energy stocks soar as well
The S&P/TSX composite index was up 63.19 points to greet noon at 15,598.74. The benchmark TSX has climbed nearly 15% this year.
The Canadian dollar was down
The companies said the cash-and-stock agreement would create the world's third-largest fast-food restaurant group, with roughly
Tim Hortons was up at
The TSX received further support from shares of energy companies, which benefited from gains in the price of oil.
Suncor Energy rose 0.7% to
Financials, the index's most heavily weighted sector, slipped slightly after two of
Bank of Montreal gained 0.9%, to
But Bank of Nova Scotia gave back 2% to
All but three of the 14 Toronto subgroups were higher by noon, with gold shining 1.2% brighter, energy better by 0.7%, and consumer discretionaries riding 0.6% higher.
The three laggards were financials, down 0.7%, utilities, off 0.1%, and health-care, easing 0.03%.
U.S. stocks notched modest gains Tuesday, with the S&P 500 again pushing above the milestone level of 2,000.
The Dow Jones Industrials improved 55.13 points to pause midday Tuesday at 17,132.
The S&P 500 gained 5.09 points to 2,003.01. The NASDAQ added 13.42 points to 4,570.77. The S&P benchmark hit an intraday record after a better-than-expected reading on consumer confidence, and investors took a mixed report on durable-goods orders in stride.
Best Buy Co. shares fell nearly 6% amid a sluggish outlook. The struggling retailer is the day's worst performer in the S&P 500.
Burger King Worldwide Inc. and Tim Hortons Inc. confirmed Tuesday that they plan to combine to create a new company in an
Burger King shares rose 0.8%, while Tim Hortons' U.S.-listed shares gained 9%.
Shares of Kite Pharma Inc.rose 17.5% after the biotech reported the majority of patients responded positively to its cancer-drug candidate.
Economically speaking, orders for U.S. durable goods skyrocketed a record 22.6% in July because of a surge in contracts for Boeing Co. aircraft, but bookings actually fell for most other industries, the
Meanwhile, an August reading on consumer confidence came in at 92.4, above forecasts for 88.5, and U.S. home prices rose 1% in June.
Prices for 10-year U.S. Treasuries moved down, raising yields back to Monday's 2.39%. Treasury prices and yields move in opposite directions.
Oil prices were up
Gold prices picked up
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