Malcolm Morrison, The Canadian Press
TORONTO - The Toronto stock market closed higher as gains in energy and financial shares helped balance out disappointing earnings reports from two of Canada's biggest grocers.
The S&P/TSX composite index gained 44.62 points to 13,370.66.
Loblaws (TSX:L) fell 7.55 per cent to $44.23 as the grocer lowered its 2013 forecast for profit growth due to thinner profit margins in the second half of the year. Quarterly net income fell 29 per cent from a year ago. Metro (TSX:MRU) shares lost 5.65 per cent to $62 amid rising profits but lower sales.
The Canadian dollar was up 0.28 of a cent to 95.58 cents US.
U.S. markets were higher with two key indexes hitting new record highs — the Dow Jones industrials ran ahead 70.96 points to 15,821.63,and the S&P 500 index gained 14.31 points to 1,782. The Nasdaq climbed 45.65 points to 3,965.58.
Oil gained 84 cents to US$93.88 a barrel.