(RTTNews) - Bay Street stocks were in the green in mid-morning deals Tuesday as commodity prices rose on a weaker greenback, and on encouraging economic data released today. Statistics Canada said manufacturing sales rose the most in January along with improving labor productivity. Moreover, easing worries over the Greece debt situation and better than expected housing starts data from across the border helped lift sentiment.
The S&P/TSX Composite Index was up 36.24 points or 0.30% to 12,045.04. Last week the main index closed at its calendar year high of 12,013.82.
Crude for April gained $1.38 to $81.18 a barrel.
Among energy stocks, Baytex Energy (BTE_UN.TO) rose 0.93% and Pacific Rubiales (PRE.TO) added 1.84%.
Oil and natural gas company Serica Energy Plc (SQZ.V) was up 2.73% after it turned to profit in fourth-quarter reporting net income of $0.11 per share, compared to a loss of $0.16 per share in the prior year quarter.
Natural gas explorer ProspEx Resources (PSX.TO) rallied 7.78% despite the company slipping into the red in the fourth quarter, reporting net loss of C$0.02 per share, compared to net earnings of C$0.01 per share in the prior year quarter.
Among financial stocks, CIBC (CM.TO) and TD Bank (TD.TO) rose to their respective 52-week highs.
Base metals and materials stocks were also in the limelight.
Mineral explorer First Quantum Minerals (FM.TO) gathered 2.35% after it swung to profit in its fourth-quarter reporting net earnings of $2.67 per share, compared to a loss of $7.19 in the year ago quarter. Further, the company expects its 2010 production to increase to 385,000 tonnes of copper and 240,000 ounces of gold.
Quadra Mining (QUA.TO) moved up 2.64%.
Gold stocks rose along with the price of bullion, which added $18.30 to $1,123.70 an ounce.
Gold explorer Kinross Gold (K.TO) was up 2.45%. The company has entered into an agreement with Underworld Resources (UW.V) to offer 0.141 of a Kinross common share, plus C$0.01 in cash for each common share of Underworld.
Intermediate gold producer Alamos Gold (AGI.TO) gained 3.78% after reporting improved fourth quarter earnings of $0.18 per share, compared to $0.10 per share in the same period a year ago.
Lihir Gold (LGG.TO) rose 4.36%.
Photovoltaic energy product maker Day4 Energy (DFE.TO) rallied 9.76% after it turned to profit in fourth-quarter, reporting net income of C$0.02 per share compared to a loss of C$0.79 per share last year.
