TSX Jumps 100 Points As Resource Stocks Rebound -- Canadian Commentary

(RTTNews) - Canadian stocks rallied on Tuesday, rebounding along with global equities on strong gains among resource producers.

Energy stocks surges as the price of crude oil jumped to a monthly peak above $102.

The S&P/TSX Composite Index rose 102.12 points to 14,372.45, taking back steep loses from the previous session.

There was little attention paid to some discouraging Canadian housing reports.

May oil jumped $2.12, or 2.1%, to settle at $102.56 a barrel on the New York Mercantile Exchange. Prices closed at their highest level since March 7.

Scotiabank's (BNS.TO) key focus this year will increasing its presence in Latin America , its CEO tells the Canadian Press. Shares rose 0.23 percent.

BlackBerry Ltd. (BB.TO) said Monday that a federal jury ruled in favor of the company in a patent infringement case brought by NXP BV in Orlando. BlackBerry shares rose 1 percent.

Curis Resources Ltd. (CUV.TO) announced that Michael McPhie has resigned as President and CEO and director of Curis to accept a role as a Senior Executive with another company. The stock fell 1.1 percent.

Housing starts fell 17.7 percent in March to a seasonally adjusted annualized rate of 156,823 units, well below an economists' forecast for 191,000 units.

A separate report from Statistics Canada showed the value of building permits tumbled by 11.6 percent in February from January.