TORONTO — The Toronto stock market registered a solid gain Tuesday as traders caught up to solid advances made on global commodity and stock markets while the TSX was closed for Victoria Day.Here are the closing numbersTSX — 11451.78 +1.52% +171.14S&P 500 — 1316.63 +0.05% +0.64Dow — 12502.81 -0.01% -1.67Nasdaq — 2839.08 -0.29% -8.13The TSX closed below its best levels of the session as worries about the future of the eurozone eroded gains in mining and energy stocks late in the session.The Toronto market came down from a 254-point surge to close up 171.15 points to 11,451.78 as traders caught up to solid advances made on global commodity and stock markets while the TSX was closed for Victoria Day.Investors had appeared ready to shop for stocks beaten down over three weeks of sharp declines that took the TSX down to the levels of last October, largely because of worries about whether Greece will have to leave the monetary union.The TSX Venture Exchange was up 18.87 points at 1,246.75.“There are still opportunities for investors to be putting money to work in today’s market,” said Craig Fehr, Canadian markets strategist at Edward Jones in St. Louis, Mo.“But there’s no question that in the interim, the lack of (positive) developments out of Europe are really going to have some sort of a grip on the markets day to day.”The Canadian dollar also gave up early gains as the U.S. currency strengthened and early gains in commodities evaporated, closing down 0.09 of a cent to US97.87 cents.New York markets also lost early traction that came from a report that existing home sales rose 3.4 per cent last month to a seasonally adjusted annual rate of 4.62 million, which met economists’ expectations.The Dow Jones industrial average dipped 1.67 points at 12,502.81. The Nasdaq composite index was 8.13 points lower to 2,839.08 and the S&P 500 index inched up 0.64 of a point to 1,316.63.Commodity prices headed lower after closing at multi-month lows last week on demand worries and a strengthening U.S. dollar. Traders have avoided riskier investments such as commodities, equities and resource-based currencies such as the Canadian dollar and bought into the safe haven of U.S. Treasuries.A stronger greenback usually helps depress oil prices, which are denominated in U.S. dollars, as it makes oil more expensive for holders of other currencies.The June crude contract on the New York Mercantile Exchange was off 91 cents at US$91.66 a barrel, wiping out most of Monday’s $1.09 gain. The energy sector gained 2.46% while Canadian Natural Resources was up $1.05 to $31.The base metals sector ran ahead 2.3% while copper was off a cent at US$3.49 a pound following a three-cent rise Monday. Ivanhoe Mines gained 60 cents to $9.36.June gold was off $12.10 to US$1,576.60 an ounce after dipping $3.20. The gold sector was up about 2% and Barrick Gold Corp. advanced 58 cents to $38.45.The financial sector gained almost 1% ahead of earnings reports from the big banks which are expected to show some softening from the last quarter.Royal Bank gained 47 cents to $52.17 and Bank of Montreal climbed 22 cents to $55.25. BMO hands in earnings Wednesday while TD Bank and Royal Bank report the following day. Scotiabank will deliver its earnings report May 29, with National Bank and CIBC following up May 30.In corporate news, social media site Facebook continued to see its share price retreat after making its debut Friday at US$38. It was down US$3.03 or 8.9% from Monday to US$31. It closed Friday at US$38.23.Best Buy Co. said Tuesday that its fiscal first-quarter profit dropped 26% to US$158 million, or 46 cents per share. Excluding restructuring charges, earnings were 72 cents per share against the 59 cents that analysts expected.Here’s the news investors were watching today:OSC makes fraud allegations against Sino-ForestMorgan Stanley shocked investors by cutting Facebook estimates just before IPOOECD urges Canada to hike rates this fall to cool housing marketCommuters to feel impact of potential CP Rail strikeON DECK WEDNESDAYECONOMIC NEWSBank of Japan interest rate decision Bank of England publishes minutes of May policy meeting CANADA8:30 a.m.Retail sales (March): Economists expect 0.3% rise from month before Leading indicators (April): Economists expect 0.3% rise UNITED STATES10 a.m.New home sales (April): Economists expect 2.1% rise FHFA House price index (March): Economists expect 0.3% rise CORPORATE NEWSCANADABank of Montreal Q2 earnings: Analysts expect $1.36 a share CAE Inc Q4 earnings: Analysts expect 19¢ Canaccord Financial Inc Q4 earnings: Analysts expect 14¢ UNITED STATESHewlett Packard Corp. Q2 earnings: Analysts expect 91¢ a share Hormel Foods Corp. Q2 earnings: Analysts expect 42¢
Secretary-General Kofi Annan immediately welcomed the move, taken in Geneva on the second day of a special Council hearing devoted to Darfur, describing it as “robust action to address the grave human rights situation.” The Council decision was adopted by consensus.“The decision… sends a united message that the ongoing violence and killing in Darfur is unacceptable and must stop,” Mr. Annan said in a statement released by his spokesman.The five “highly qualified persons” on the mission to Darfur will be appointed by the Council President, Luis Alfonso de Alba of Mexico, after consultations with the 47-member Council and Sima Samar, the Special Rapporteur on the situation of human rights in Sudan.The text agreed to by Council members asks the Secretary-General and the UN High Commissioner for Human Rights Louise Arbour to provide the mission with all the administrative, technical and logistical help needed to complete its work.It also welcomes the Sudanese Government’s cooperation with Ms. Samar and calls on Khartoum to continue and intensify its working relationship with the Human Rights Council and Ms. Arbour’s office.More than 200,000 people have been killed across Darfur since 2003 and at least 2 million others displaced from their homes because of fighting between Government forces, allied militias and rebel groups seeking greater autonomy.Some 4 million people now depend on the UN or non-governmental organizations (NGOs) for humanitarian aid, and the security situation across the vast and impoverished region on Sudan’s western flank continues to deteriorate.The UN Mission in Sudan (UNMIS) today condemned the weekend hijacking in North Darfur of a vehicle belonging to the African Union (AU) peacekeeping force in Darfur (known as AMIS) and the kidnapping of two AMIS military personnel on board.In a news update from Khartoum, the Mission demanded the immediate, safe release of the two staff members, adding that AMIS’ presence in Darfur “is crucial to restoring order and stability.”The situation inside the North Darfur state capital of El Fasher remains tense, the mission said, while noting there have been skirmishes between Arab militia and armed Chadian opposition groups south of the town. A spate of armed hijackings of vehicles belonging to humanitarian NGOs has also taken place in West Darfur in recent days.The Tripartite Mechanism, which comprises representatives of UNMIS, the AU and the Sudanese Government, held its first meeting today in Khartoum. The body is discussing how to implement the $21 million UN support package to AMIS, the first part of a three-phase process that is expected to eventually culminate in a hybrid UN-AU peacekeeping force in Darfur.Under the “light support package,” agreed upon last month, UNMIS will provide 105 military advisers, 33 police officers and 48 civilian staff, as well as equipment.