Canadian stocks crept higher Tuesday despite a somewhat downbeat assessment of the nation's economy by the International Monetary Fund.
The IMF World Economic Outlook sees growth in Canada of 2.1 percent this year and 2 percent next year, well short of the U.S. and global outlook.
However, upbeat Chinese economic news could auger well for Canadian exporters.
China's economy expanded at a steady pace in the first quarter of 2018, helped by consumer spending amid moderation in industrial output and fixed asset investment growth.
Gross domestic product expanded 6.8 percent year-on-year, the same pace of growth as seen in the fourth quarter, data from the National Bureau of Statistics showed.
On Bay Street, the TSX Composite Index was up 52.92 points to 15,353.30.
The Bank of Canada announces its interest rate decision tomorrow morning.
The squabble between BC and other provinces over the Trans Mountain pipeline continues to heat up. Alberta's Prem Notley says she wants to restrict oil shipments to BC if that province successfully kills the pipeline. Saskatchewan's prem followed suit with threats against BC.
Prime Minister Justin Trudeau has vowed the controversial Trans Mountain pipeline would be built despite protests from British Columbia.
In corporate news, Tim Horton's headquarters is moving to downtown Toronto.
Air Canada (AC.TO) will offer lie-flat seats on some North American flights.
Activist investor Blue Harbour Group called Canadian software company Open Text Corp. (OTEX.TO) "mispriced and inexpensive," according to BNN.ca. Shares were up 3.5 percent.
Canadian manufacturing sales increased 1.9% to C$55.8 billion in February, following two consecutive monthly decreases. The growth was due mainly to higher sales in the transportation equipment industry. Analysts expected only 0.8% growth.
The TSX Composite Index was up 26.41 points to 15,300.38 Monday.
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