Canada: TSX Nears One-Year High as Yields Retreat.

The S&P/TSX Composite Index rose 0.4% to close at 35,649 on Tuesday, nearing a one-year high as the recent global bond sell-off eased. Yields retreated from multi-year highs, offering some respite to credit-sensitive markets. RBC gained 0.6%, TD Bank added 0.5%, BMO rose 0.7% and CIBC advanced 0.9%. Utilities also gained as lower yields increased the appeal of high-dividend-paying stocks. Miners advanced as gold prices rebounded, with Agnico Eagle up 1.2% and Barrick adding 1.6%. The tech sector rose, tracking gains on Wall Street, with Shopify up 2.4%. Meanwhile, Emera (-2.9%) said it would acquire Canadian Utilities (-1.9%) in a deal that would create one of Canada’s largest power providers. ATCO (+9.2%), which holds nearly 37% of Canadian Utilities’ outstanding non-voting shares and all outstanding voting shares, said it would separate into a publicly traded industrial services company.