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May 26, 2021, 12:12 p.m. EDT

Stocks Skyrocket by Noon

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May 26, 2021 (Baystreet.ca via COMTEX) -- Canada's main stock index rose on Wednesday, supported by material stocks as gold prices jumped on the back of softer Treasury yields after U.S. Federal Reserve officials downplayed inflation concerns.

The TSX moved into noon hour on Wednesday up 158.62 points to 19,722.74.

The Canadian dollar retreated 0.39 cents to 82.48 cents U.S.

Bank of Montreal beat analysts' estimates for second-quarter profit, as the lender set aside lower-than-expected provisions in the quarter.

Bank of Montreal grabbed 31 cents to $123.91.

Canadian National Railway rose $2.08 or 1.6%, to $129.32, after saying it would divest Kansas City Southern's 70-mile rail line between New Orleans and Baton Rouge to eliminate the only overlap between the two railroad operators.

The largest percentage gainers on the TSX were BlackBerry, which jumped $1.12, or 10.8%, to a three-week high of $11.49, and Teck Resources, rising $1.38, or 5.1%, to $28.28, after Deutsche raised the stock's target price.

Capital Power fell $1.64, or 4.1%, the most on the TSX, to $38.17, after announcing bought offering of common shares.

The second biggest decliner was iA Financial Corp, down 98 cents, or 1.4%, to $69.28.

ON BAYSTREET

The TSX Venture Exchange improved 2.82 points to 957.78.

All 12 subgroups were still green by lunch hour, led by health-care, sprinting 2.5%, energy, rumbling 1.4%, and materials, hiking 1.2%.

ON WALLSTREET

U.S. stocks rose on Wednesday as shares tied to the economic reopening supported the broader market once again.

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