The TSX followed global markets higher Thursday as China reiterated its commitment to investments in eurozone debt, despite disappointing earnings from several of Canada’s largest banks.
The Toronto Stock Exchange’s S&P/TSX composite index rose 79.24 points, or 0.69 per cent, to 11,623.14.
On the New York Mercantile Exchange, oil gained $1.68 US to $73.18 US a barrel and gold fell $5.30 to $1,208.10 US an ounce.
The Canadian dollar was trading at 94.74 cents US, up 1.16 cents US.
“News that China remains committed to its investments in Europe, positive headlines from (Treasury Secretary Timothy) Geithner meeting with (German Finance Minister Wolfgang) Schaeuble and ongoing focus on the OECD’s bullish growth forecast have all helped to drive risk appetite higher (Thursday),” according to Camilla Sutton, currency strategist at Scotia Capital.
Meanwhile, three of Canada's big banks, Royal Bank of Canada, Canadian Imperial Bank of Commerce and Toronto Dominion Bank posted results for the second quarter sharply up from a year ago but still fell below analyst expectations.
In the U.S., the Dow Jones industrial average rose 149.33 points, or 1.5 per cent, to 10,123.78, while the Nasdaq composite index was up 47.56 points, or 2.17 per cent, to 2,243.44.
