Canadian Stocks Continue To Regain Ground

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(RTTNews) – Following the rebound seen in the previous session, Canadian stocks saw some further upside during trading on Tuesday.

The benchmark S&P/TSX Composite Index rose 73.66 points or 0.4 percent to 19,257.29 continuing to regain ground after ending last Friday’s trading at its lowest closing level in over a year.

Energy stocks helped lead the way higher, resulting in a 2.3 percent jump by the S&P/TSX Capped Energy Index.

The strength in the sector comes amid a rebound by the price of crude oil, with crude for August delivery jumping $1.53 or 1.4 percent to $109.52 a barrel after plummeting $7.26 or 6.3 percent to $107.99 a barrel last Friday.

Commercial real estate and gold stocks also saw some strength on the day, while telecom stocks gave back ground following yesterday’s rally.

In economic news, Statistics Canada released a report showing Canadian retail sales increased 0.9 percent to C$60.7 billion in April.

Statistics Canada said sales were up in 6 of 11 subsectors, led by higher sales at general merchandise stores.

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