TSX Up Triple-digits For A Second Day -- Canadian Commentary

(RTTNews) - Canadian stocks rallied for a second day Tuesday, thanks again to bargain hunting in the beaten down energy and mining sectors, as well as gains among tech stocks.

The S&P/TSX composite index rose 166.23 points, or 1.2%, to 13,636.06, with financials also higher on upbeat earnings.

Traders ignored a disappointing Canadian GDP report amid signs the American consumer will power fourth quarter growth in the U.S.

Bank of Montreal (BMO.TO) announced a profit for its fourth quarter that gained 14% from last year. The company also said it will buy back up to 15 million of its common shares. The stock added 1.4 percent.

Bank of Nova Scotia (BNS.TO) reported fourth-quarter net income was up 8%, slightly above expectations. Shares were flat.

Bonterra Energy (BNE.TO) rose 2.4 percent. The company announced that the November 2015 monthly cash dividend will be $0.15 per share.

ProMetic Life Sciences (PLI.TO) lost 11 percent. The company has decided to close patient enrollment in its phase II study in patients with type 2 diabetes and metabolic syndrome and will transition to a placebo-controlled phase II study in patients suffering from type 2 diabetes.