TORONTO – The Toronto stock market registered a solid gain amid strong bank earnings and an easing of concerns over military intervention in Syria.
The S&P/TSX composite index jumped 97.51 points to 12,704.73. Strength also came from telecoms on speculation that U.S. telco Verizon won’t be entering the Canadian wireless market. The Canadian dollar was down 0.41 of a cent at 94.96 cents US.
CIBC (TSX:CM), TD Bank (TSX:TD) and Royal Bank (TSx:RY) all beat earnings expectations, with TD and Royal upping their dividends.
U.S. indexes largely registered minor gains amid appeals to wait on taking action on Syria until UN inspectors reveal their findings on the apparent chemical attack that has been blamed on Syria’s government.
The Dow Jones industrial average rose 16.44 points to 14,840.95. The Nasdaq was 26.95 points higher at 3,620.3 while the S&P 500 index was 3.21 points higher at 1,638.17.
Oil fell $1.30 to US$108.80 a barrel after supply disruption worries boosted prices over the last two days.
© The Canadian Press, 2013