North American stock markets smash new records
The Toronto stock market climbed to a new record high, bolstered by a major deal that saw the parent company of Tim Hortons and Burger King buy Popeyes Louisiana Kitchen for US$1.8 billion.
The S&P/TSX composite index jumped 83.74 points at 15,922.37, as shares in Canadian multinational fast-food company Restaurant Brands International (TSX:QSR) soared seven per cent at the close.
Major New York indexes also finished above previous records, with the Dow Jones industrial average gaining 118.95 points at 20,743 points, the S&P 500 up 14.22 points at 2,365.38, and the Nasdaq composite adding 27.37 points at 5,865.95.
North American stock markets had been closed on Monday for Family Day in Ontario and President’s Day in the U.S.
In currency markets, the Canadian dollar was at 76.12 cents US, down 0.22 of a U.S. cent.
Commodities were mixed with the April crude contract adding 55 cents to US$54.33 a barrel, and April natural gas down 26 cents at US$2.69 per mmBTU.
The April gold contract lost 20 cents at US$1,238.90 an ounce and March copper contracts were up four cents at US$2.75 a pound.