Canada's benchmark stock index reversed earlier losses to close marginally higher on Tuesday, lifted by positive sentiment globally as well as higher oil and gold prices.
The Toronto Stock Exchange's S&P/TSX composite index was up 9.57 points, or 0.06 per cent, at 16,357.98. Five of its 10 main industry groups ended in positive territory.
Kinaxis Inc (KXS.TO), which was up 10.6 per cent at $84.18, was the biggest gainer on the index after saying it had been chosen by Toyota Motor Corp to manage automotive demand and supply chain processes.
Among the biggest gainers were Birchcliff Energy (BIR.TO), up 9.3 per cent, and New Gold Inc (NGD.TO), which closed 6.8 per cent higher.
The companies were lifted by a 2 per cent jump in crude oil futures to US$64.78 a barrel, and a 0.5 per cent rise in gold prices to US$1,340.81 an ounce. [MKTS/GLOB]The rise in prices of the precious metal did not lift all gold firms, however. Pretium Resources Inc (PVG.TO) slumped 26.5 per cent after the exploration company provided an operational update for its Brucejack mine in northern British Columbia and Credit Suisse downgraded the stock.
The heavyweight financials group was among the decliners with a 0.2 per cent drop, and industrials dipped 0.1 per cent.
The Canadian dollar was trading at 80.47 U.S. cents as of Tuesday's market close, up 0.17 from Monday's closing tally.
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