TSX rebounds from five-week low as Wall Street rallies
By Fergal Smith
(Reuters) -Canada's main stock index rose on Wednesday as a Wall Street rally helped bolster energy and financial shares, with the index rebounding from its lowest intraday level in five weeks.
The Toronto Stock Exchange's S&P/TSX composite index ended up 54.36 points, or 0.3%, at 20,296.43, after touching its lowest since April 10 at 20,158.69.
U.S. stock indexes posted stronger gains, helped by a bounce in regional bank stocks and optimism about a potential breakthrough in the deadlock in Washington over the nation's debt limit.
"It was definitely a good day for equities in the (United)States and I think that spilled over into Canada," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
The Toronto market's energy sector rose 1.4% as oil settled 2.8% higher at $72.83 a barrel, clawing back some recent declines.
Heavily weighted financials advanced 0.9% and healthcare was up 4.9%.
Healthcare was boosted by a 24.1% jump in Bausch Health Companies Inc shares after a Delaware court ruling helped guard the patent for the company's antibiotic drug for traveler's diarrhea.
Shares of BlackBerry Ltd advanced 5.9% as the company forecast sales jumping as much as 54% in 2026 from 2023 on the back of growth in its cybersecurity business.
(Reporting by Fergal Smith in Toronto and Johann M Cherian and Vansh Agarwal in Bengaluru; Editing by Pooja Desai, Marguerita Choy and Richard Chang)
