RTTNews - Bay Street's main index continued to rebound on Tuesday and challenged the 10,000 mark again. A strong day for mining stocks helped boost the market.
The S&P/TSX Composite Index gained 94.22 points or 0.95% to settle at 9,986.15. The index finished at its highest level in a week.
Mining stocks added 2.8% as copper jumped more than 3% in Comex trading. First Quantum (FM.TO) led the gainers with a 3% rise, while Teck Resources (TCK.B.TO) added 2.25% and HudBay (HBM.TO) gained 1.9%.
Financials rose 2% on a good day for the big banks. Royal Bank (RY.TO) gained 2.9%, CIBC (CM.TO) and Bank of Montreak (BMO.TO) both gained 2.6% and National Bank (NA.TO) rose 2.1%.
Synergex Corp. (SYX.TO) soared 12.5% after the company said it entered into an agreement to acquire the licensing, production, and distribution business as well as the video and music product pipeline of BrainWorks Entertainment.
Maximizer Software (MAX.TO) plunged 10% after the company said its second-quarter net loss widened to US$0.42 million from US$0.27 million in the previous year.
Eldorado (ELD.TO) added 3.3% after the company announced an amendment to a deal with Gold Fields Australasia Limited whereby Eldorado will buy 57.9 million shares of Sino Gold Mining Limited in exchange for 27.82 million shares of Eldorado.
On the economic front, Canadian new motor vehicles sales continued to rise in May. Increased truck sales led to a 1.0% rise in the number of new motor vehicles sold in May to 121,348 units. The result was in line with analysts' expectations.
Tomorrow, Canadian manufacturing shipments data for the month of May is expected at 8:30 a.m. ET. In earnings news, Corus Entertainment (CJR.B.TO) is expected to report its earnings for the third quarter before the market opens.
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