Canadian shares advanced on Tuesday, led by the three heavyweights--materials, energy and financials.
The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.2% to 13,033 at 11:59 a.m. in Toronto. The benchmark gauge has lost 11% this year.
The materials sub-index, which includes mining shares, gained 1.2% even as gold futures turned lower. Barrick Gold (TSE:ABX), Canada’s second-largest gold miner, gained 0.6% to C$8.44, paring this year’s plunge to 32%. First Quantum Minerals (TSE:FM), a copper miner, added 1.1% to C$4.70.
December gold surrendered 0.1% to trade at $1,131 an ounce on Comex.
The energy sector rose 0.7% as oil, Canada’s largest export, headed higher on Tuesday. Suncor Energy (TSE:SU), Canada's largest oil sands producer, edged up 0.5% to C$34.76. Canadian Natural Resources Limited (TSE:CNQ), Canada’s second-largest energy producer, gained 0.9% to C$25.70.
November West Texas Intermediate crude tacked on 2.3% to $45.47 a barrel on the New York Mercantile Exchange.
Financials, the index's most heavily weighted sector, inched up 0.2%. Royal Bank of Canada (TSE:RY), which has the heaviest weighting in the index, rose 0.5% to C$71.42. Toronto-Dominion Bank (TSE:TD), the second-largest bank by market value, added 0.3% to C$51.26.