Canada’s main stock index rose on Wednesday, rebounding from its lowest intraday level in five weeks, as energy and financial shares rallied.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended up 54.36 points, or 0.3%, at 20,296.43, after earlier touching its lowest level since April 10 at 20,158.69.
U.S. stock indexes also climbed, 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.
The Toronto market’s energy sector rose 1.4% as oil <CLc1> settled 2.8% higher at $72.83 a barrel, clawing back some recent declines.
Heavily-weighted financials advanced 0.9% and health care was up 4.9%.
Health care was boosted by a 24.1% jump in the shares of Bausch Health Companies Inc (BHC.TO) after a ruling by a Delaware court helped guard the patent for the company’s antibiotic drug for traveler’s diarrhea.