TORONTO - The Toronto stock market closed higher, thanks in part to a pair of positive U.S. economic reports.
The S&P/TSX composite index gained 49.12 points to 11,635.49, with financials leading advancers.
The telecom sector was the leading decliner amid investor disappointment with a solid earnings report from Rogers Communications (TSX:RCI.B). Some analysts blamed a conservative outlook for the reason the telecom giant's stock fell 4.58 per cent.
The Canadian dollar was off 0.15 of a cent to 95.68 cents US while oil gained 32 cents to US$77.33 a barrel.
New York markets were also higher as housing construction data and industrial production numbers for last month beat expectations.
The Dow Jones industrials advanced 40.43 points to 10,309.24, the Nasdaq composite index moved up 12.1 points to 2,226.29 while the S&P 500 index gained 4.64 points to 1,099.51.