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    • S&P/TSX composite index lifted by broad rally led by energy, materials sectors

    Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, May 3, 2022. (AP Photo/Ahn Young-joon) Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, May 3, 2022. (AP Photo/Ahn Young-joon)
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    TORONTO -

    A broad rally pushed Canada's main stock index up more than 200 points as the energy and materials sectors gained on strong quarterly reports from key players.

    Energy increased 3.9 per cent as natural gas prices hit their highest level since 2008. The materials sector, which includes mining, forestry and fertilizer companies, rose 2.3 per cent as gold prices moved higher.

    Corporate results supported the gains as shares of MEG Energy Inc. and fertilizer producer Nutrien Ltd. increased 6.0 and 4.9 per cent, respectively in reaction to strong quarterly results. NuVista Energy Ltd. increased 7.4 per cent to lead a good day for Canadian producers.

    MEG Energy says higher energy prices contributed to it earning a $362-million profit in its latest quarter as revenues surged 68 per cent. Nutrien reported a record US$1.4 billion in first quarter profits as the war in Ukraine drove up commodity prices and raised concerns about global food security.

    The heavyweight financials sector was up nearly one per cent with Canadian banks seeing their share prices climb.

    The S&P/TSX composite index closed up 213.06 points to 20,905.28.

    In New York, the Dow Jones industrial average was up 67.29 points at 33,128.79. The S&P 500 index was up 20.10 points at 4,175.48, while the Nasdaq composite was up 27.74 points at 12,563.76.

    “With little in the way of any market-moving economic data, it would appear that investors are stepping in to buy the dip ahead of tomorrow's highly anticipated Federal Reserve meeting, where officials are widely expected to raise interest rates by 50 basis points,†said Candice Bangsund, portfolio manager for Fiera Capital.

    She said economically sensitive sectors led Tuesday's advance. They typically do well in an environment of rising interest rates and accelerating inflation, while growth sectors like technology underperform.

    This trend has resulted in the TSX outperforming the S&P 500 and the Nasdaq. Canada's technology sector was up one per cent with Shopify Inc. up 2.4 per cent.

    Bangsund said markets have largely priced in the hawkish move by the U.S. central bank, with some traders on the cusp of pricing in a 75 basis point move at the June meeting.

    “So I think the bar for a hawkish surprise from the Fed will be quite high and if the Fed goes ahead and raises interest rates by 50 basis points, that will largely be in line with what was expected going into the meeting,†she said in an interview.

    “As long as the Fed produces that 50 basis point rate hike and a QT or a quantitative tightening announcement, I think that market response should be fairly muted.â€

    The June crude contract was down US$2.76 to US$102.41 per barrel and the June natural gas contract was up 47.9 cents at US$7.95 per mmBTU after hitting a high of $8.17.

    Bangsund said oil prices softened on worries about demand stemming from COVID-19 lockdowns in China that offset lingering supply concerns stemming from the Russia-Ukraine conflict that shows no end in sight.

    “So I think the geopolitical conflict will ultimately place the floor under prices, though today the focus is largely on the outlook for demand given the deteriorating growth backdrop in China.â€

    The Canadian dollar traded for 77.84 cents US compared with 77.55 cents US on Monday.

    The June gold contract was up US$7.00 at US$1,870.60 an ounce and the July copper contract was up one 1.5 cents at US$4.28 a pound.

    Health care was one of four sectors that lagged. Industrials dipped even though Air Canada shares were up 3.7 per cent.

    This report by The Canadian Press was first published May 3, 2022.

    CTVNews.ca ÐÇ¿Õ´«Ã½

    Three men were injured after trying to subdue a man armed with a knife during afternoon prayers at a Montreal-area mosque Friday afternoon.

    Police have arrested an 18-year-old woman who allegedly stole a Porsche and then ran over its owner in an incident that was captured on video.

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.

    The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    Canada

    • Three men were injured after trying to subdue a man armed with a knife during afternoon prayers at a Montreal-area mosque Friday afternoon.

    • Police have arrested an 18-year-old woman who allegedly stole a Porsche and then ran over its owner in an incident that was captured on video.

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • The Métis Nation of Saskatchewan has pulled out of a national body representing Métis, citing problems with an Ontario group and throwing the future of the Métis National Council into question.

    • Provincial police investigating the death of a cat that was allegedly set on fire in Orillia earlier this week released surveillance video of a person of interest in the case.

    • The debate over sexual orientation and gender identity education in schools is heating up. Protests both for and against SOGI in the curriculum took place across the country Friday.

    World

    Politics

    Health

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    Sci-Tech

    Entertainment

    • Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

    • It was the last show for longtime children's TV star Ron (Buck Shot) Barge Friday as hundreds of family, friends and fans attended a public memorial in Calgary.

    Business

    Lifestyle

    • When Bernard Morissette got a call from Loto-Quebec on Sept. 18 and was asked if he was sitting down, he had no idea what was coming his way.

    • An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.

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    • The Winnipeg Blue Bombers have won five in a row. The Edmonton Elks have won five of their last six games. They are the two hottest teams in the West. When they meet Saturday at Commonwealth Stadium, something has to give.

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • F1 star Max Verstappen punished over bad word

      Formula One points leader Max Verstappen was ordered to 'accomplish some work of public interest' after uttering an inappropriate word Thursday at the news conference ahead of the Singapore Grand Prix.

    Autos

    Local Spotlight

    Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

    An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    • Advocates have identified the woman who died this week after being shot by police in Surrey, B.C., as a South American refugee who was raising a young daughter.

    • The debate over sexual orientation and gender identity education in schools is heating up. Protests both for and against SOGI in the curriculum took place across the country Friday.

    • A fire that destroyed a historic bridge in Kamloops, B.C., is now being investigated as arson, local Mounties say.

    • Police have arrested an 18-year-old woman who allegedly stole a Porsche and then ran over its owner in an incident that was captured on video.

    • The parents of a teenager who died after allegedly consuming the poisonous products of a Mississauga man are now suing him, as well as several doctors involved in her care.

    • One person was rushed to the hospital with life-threatening injuries after a multi-vehicle collision in Milton, Ont. on Friday night.

    • The man charged with fatally stabbing lifelong Banff resident Ethan Enns-Goneau in 2022 has been convicted of second-degree murder.

    • Environment Canada issued a frost advisory for Calgary late Friday afternoon.

    • Calgary Mayor Jyoti Gondek is urging the Alberta government to preserve pieces of the massive Green Line transit project now being dissolved.

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • For years, the commute to Ottawa's west end was one of the biggest complaints for attending fans. But those who live in Kanata and in the immediate LeBreton area say the move would be a big change their respective neighbourhoods.

    • Ottawa police are investigating a shooting downtown Friday afternoon.

    • Three men were injured after trying to subdue a man armed with a knife during afternoon prayers at a Montreal-area mosque Friday afternoon.

    • When Bernard Morissette got a call from Loto-Quebec on Sept. 18 and was asked if he was sitting down, he had no idea what was coming his way.

    • A man who asserted his right to work in French has won his case before the Tribunal, invoking the new provisions of the province's French-language law (Bill 96) to that effect.

    • Two Edmonton Police Service officers have been criminally charged in connection with an assault.

    • There's a friendship in the Edmonton Oilers crease between Stuart Skinner and Calvin Pickard.

    • A woman is dead after a highway collision on Saddle Lake Cree Nation.

    • A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.

    • Day two of New Brunswick’s provincial election campaign saw the Liberals and Green Party make healthcare announcements, while the Progressive Conservatives focused on a previous promise to cut taxes.

    • Relatives of a 60-year-old man who took his own life in a Nova Scotia jail after long periods of confinement in his cell have launched a lawsuit against the province.

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • A plane approaches the grass runway at Harv’s Air School south of Steinbach. Nothing is getting in the way of a clear, smooth landing, but owner Harv Penner worries, that could soon change.

    • The University of Manitoba's College of Dentistry is dealing with some unexpected consequences from the federal government's new Canadian Dental Care Plan

    • Five Regina schools were placed into lockdown or secure the building mode following a report of a weapons investigation at Miller High School on Friday.

    • A 21-year-old man from Codette, Sask. is facing numerous charges in connection to a fatal crash near Wapella, Sask. Wednesday night that claimed the life of a 22-year-old Alberta woman.

    • The City of Regina and provincial government have committed a combined $400,000 to Carmichael Outreach for an 80-person warming space set to open no later than Nov. 1.

    • Protests were held in front of Kitchener City Hall on Friday, both for and against LGBTQ2S+ inclusive education and queer rights in schools.

    • Levels of hydrogen sulfide gas are being monitored at Brantford Collegiate Institute after a leak in their geothermal system.

    • A new scam is being reported in communities across the country.

    • A garage fire in Saskatoon’s Willows neighbourhood on Friday narrowly missed igniting an attached home, according to the fire department.

    • The Métis Nation of Saskatchewan has pulled out of a national body representing Métis, citing problems with an Ontario group and throwing the future of the Métis National Council into question.

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Police have arrested an 18-year-old woman who allegedly stole a Porsche and then ran over its owner in an incident that was captured on video.

    • A Brampton driver, 27, was charged this week when northern Ontario police stopped the SUV he was driving on Highway 17 after a reported shooting and found more than $100,000 in cash.

    • A man is in hospital with life threatening injuries following a collision between a motorcycle and a vehicle on Friday afternoon.

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    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • Provincial police investigating the death of a cat that was allegedly set on fire in Orillia earlier this week released surveillance video of a person of interest in the case.

    • A jury has found a Barrie man guilty of second-degree murder for the stabbing death of a man at a Banff bar two years ago.

    • The Special Investigations Unit (SIU) is searching for the occupants of a vehicle caught on security cameras during a fatal police-involved shooting on Goyeau Street.

    • Windsor police say a 25-year-old mother has been charged with the drowning death of her 5-year-old child in the family’s backyard pool.

    • The federal government is investing $18.4 million dollars into the region.

    • New Democrat Leader David Eby has launched his British Columbia election campaign a day early, making the key battle ground of Surrey his first stop.

    • The Old Man Lake wildfire near Sooke is the only one currently burning on Vancouver Island. It’s a region of the province that this year saw a drastic drop in blazes in the backcountry.

    • Police in Victoria, B.C. issued a warning this week about lighters that look like pistols, saying they have received 20 reports of firearms in public spaces since July 1 that turned out to be gun-shaped torches.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • After a summer of preparation, the Lethbridge Hurricanes are ready to open the 2024-25 season.

    • As a new semester is underway, Lethbridge Polytechnic and the University of Lethbridge say the number of students on campus is on the rise.

    • A Lethbridge resident is facing charges after police seized drugs and weapons at a traffic stop for bicycle equipment violations.

    • A 26-year-old driver from Surrey, B.C., has been charged with three counts of criminal negligence causing death and bodily harm in a crash that killed two youths in northern Ontario last year.

    • Ontario Provincial Police say three suspects from southern Ontario have been charged and drugs worth $300,000 have been seized following a traffic stop Sept. 16.

    • A Brampton driver, 27, was charged this week when northern Ontario police stopped the SUV he was driving on Highway 17 after a reported shooting and found more than $100,000 in cash.

    N.L.

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