RTTNews - Mining and financial stocks continue to lead Toronto's main index higher on Tuesday afternoon. With the gains, Bay Street's market adds to a notable gain from the previous session.
The S&P/TSX Composite Index rose 64.84 points or 0.65% to move at 9,956.77. The market is targeting its second straight positive close after seeing notable weakness last week.
Mining stocks have gained 2.5% as copper climbed in Comex trading. First Quantum (FM.TO) has added 3%, HudBay and Teck Resources (TCK.B.TO) are 2.3% higher and Inmet has added 1.9%.
Financials have gained 1.6%, led by a 2.7% spike for Royal Bank (RY.TO). Bank of Montreal (BMO.TO) and CIBC (CM.TO) are up 2.2%.
Across the border, Goldman Sachs Group (GS) reported second-quarter net earnings were $2.72 billion or $4.93 per share, a 33% rise from $2.05 billion or $4.58 per share, in the same quarter last year.
In other corporate news, Grande Cache Coal Corp. (GCE.TO) has climbed 6.5% after the company lifted its fiscal 2010 sales volume outlook to 1.3 million - 1.5 million tonnes from its prior range of 1.2 million - 1.4 million tonnes.
Bombardier Transportation (BBD-B.TO) said that it has signed contracts with the City of Phoenix for the supply and operations and maintenance of an automated people mover at Phoenix Sky Harbor International Airport. The stock is down 2.4%.
Synergex Corp. (SYX.TO) has surged 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) has plummeted 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 Gold (ELD.TO) is up 3% after the stock said it amended its agreement with Gold Fields Australasia Limited whereby Eldorado would buy 57.9 million shares of Sino Gold Mining Limited in exchange for 27.82 million shares of Eldorado.
Orvana Minerals (ORV.TO) has dropped 4.2%. Kinbauri Gold announced a merger deal with ATW Gold in a deal worth about $43 million. This tops a previous offer made by Orvana worth $33 million.
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.
For comments and feedback: contact firstname.lastname@example.org