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.