TSX Jumps 155 Points As Can. Manufacturing Picks Up -- Canadian Commentary

(RTTNews) - Canadian stocks rallied Tuesday amid upbeat economic data on both sides of the border.

The S&P/TSX Composite Index was up 155.73 points, or 1.07 percent, to 14,752.25, helped by widespread gains.

In economic news, U.S. core CPI is up 2.2 percent annually, in line with the Federal Reserve's target for inflation, data showed this morning.

Meanwhile, Canadian manufacturing sales increased 0.9 percent to $51.1 billion in August, reflecting higher sales of food, primary metal, and petroleum and coal products.

Suncor Energy (SU.TO) is selling another stake in an oil-storage terminal to an Alberta First Nation. Suncor added 1 percent.

ProMIS Neurosciences (AMF.TO), focused on neurodegenerative diseases, today announced the appointment of Dr. Richard Gregory to its Board of Directors. Shares fell 3.5 percent.

American International Group (AIG) has agreed to sell some of its Latin American and European property-and-casualty insurance operations to Fairfax Financial Holdings (FFH.TO).

Amaya (AYA.TO) and Willam Hill have ended merger discussions. Amaya shares tumbled 8.3 percent.

OceanaGold (OGC.TO) rose 6 percent after the miner provided an update on its Philippines operations.

Crude oil futures were above $50 amid hopes that Russia and certain OPEC power will curb output next year.

Marketwatch reports Secretary General of the Organization of the Petroleum Exporting Countries Mohammad Barkindo expects Russia to follow through on plans to cut oil production.