The Toronto Stock Exchange came back from earlier losses yesterday to post its first gain in three days. The S&P/TSX composite index closed up 19.19 points, or 0.16%, to 11,967.17. Financials and materials were positive, while energy and consumer staples lost ground. The TSX Venture composite was down 9.47 points, or 0.61%, 1544.59. Lower commodity prices were among the early detriments to Bay Street enthusiasm. By the end of the day, crude oil managed to see a rise of US57¢ to US$81.25 a barrel on the New York Mercantile Exchange. Gold was down US$8.10 to US$1,099.50 an ounce. The Canadian dollar was down 24 basis points to US98.15¢ after coming within a cent of parity to the U.S. greenback last week. Some of the stronger stocks on the TSX included Research in Motion Ltd. (RIM/TSX), which was up 1.47% to $75.12, and Potash Corp. of Saskatchewan Inc. (POT/TSX), which rose 1.58% to $124.94. Potash Corp saw gains after Moscow-based brokerage Metropol rated Russian potash producers OAO Uralkali and OAO Silvinit both "buy" stocks. TSX health-care stocks were also up following Sunday's passage by the U.S. House of Representatives of President Barack Obama's health-care reform legislation. Drugmaker Biovail Corp. (BVL/TSX) saw a gain of 0.99% to close at $16.27 after founder Eugene Melnyk, who has battled the current regime in recent years, said he has divested most of his holdings in the company. The health sector was also key in boosting U.S. markets yesterday. "People perceive there's going to be a whole lot more public money coming into health care, so that could be good for a number of different companies that provide either equipment or services or whatever," said Michael Sprung of Sprung and Co. Investment Counsel Inc. in Toronto. Colin Cieszynski, an analyst with CMC Markets Canada, said the way stocks and commodity prices improved toward day's end "suggests that underlying bullish interest on anticipation of an improving global economy remains intact."
