By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) — The Canadian market finished up Wednesday as energy stocks and industrial stocks, led by Bombardier Inc., offset declines in the health-care and consumer-discretionary sectors.
The S&P/TSX Composite Index rose 21 points, or 0.2%, to close at 14,144.
Stocks struggle against oil
U.S. equities are trying to mount a comeback after yesterday's selloff, but still-rising oil prices are capping the rebound.
The S&P/TSX Capped Industrials Index added 0.8%, paced by shares of Bombardier /zigman2/quotes/208994866/delayed CA:BBD.B -10.71% , the most actively traded issue on the Toronto exchange. Shares of the aircraft maker closed up 7.5% after the company said it received an order from NetJets Inc., owned by Warren Buffett’s Berkshire Hathaway Inc., that could be worth up to $6.7 billion.
Energy stocks also provided lift to the Toronto exchange with the S&P/TSX Capped Energy Index ending the day up 0.9%. Shares of Suncor Energy Inc. /zigman2/quotes/204570600/delayed CA:SU -0.69% rose 0.8%, Imperial Oil Ltd. /zigman2/quotes/203145852/delayed CA:IMO -1.83% shares finished up 2%, Cenovus Energy Inc. /zigman2/quotes/207955267/delayed CA:CVE -2.29% shares advanced 2.4%, and Canadian Natural Resources Ltd. /zigman2/quotes/203742161/delayed CA:CNQ -1.58% rose 1.6%.
Crude oil for April delivery advanced $2.60, or 2.6%, to settle at $102.23 a barrel on the New York Mercantile Exchange.
On the opposite end of the spectrum, the S&P/TSX Capped Health Care Index declined 1.3%, with shares of SXC Health Solutions Corp. down 1% and CML Healthcare Inc. shares down 1.8%.
The S&P/TSX Capped Consumer Discretionary Index fell 0.5%, with shares of Cineplex Inc. /zigman2/quotes/201832697/delayed CA:CGX +0.06% down 2.2% and Magna International Inc. /zigman2/quotes/204160084/delayed CA:MG -2.01% shares declining 1.8%.
The Canadian dollar rose against its U.S. counterpart /zigman2/quotes/210561978/realtime/sampled USDCAD -0.2791% , with the greenback buying 97.22 Canadian cents, compared with 97.43 late Tuesday.