Energy and Utilities push Canadian stocks back to 19-month high

Canada's main stock market in Toronto climbed to a new 19-month high due to gains in energy and utilities stocks.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite jumped 97.57 points, or 0.64 percent, to close the day at 15,385.27 points, surpassing the previous 19-month high set last Friday. Eight of the ten sub-sectors finished the session ahead.

Energy and Utilities groups were biggest movers on the day, with respective gains of 1.74 percent and 1.04 percent.

Energy gained as crude oil moved up for a fourth straight session. A barrel of Brent for delivery in February gained 32 cents to 55.60 U.S. dollars.

Shares of Baytex Energy Corp. were the most actively traded for a second consecutive day. With a volume of nearly nine million shares on Tuesday, the firm's stock price rose 1.85 percent to 7.16 Canadian dollars (5.45 U.S. dollars).

Calgary-based Enerplus Corporation shares soared 6.10 percent to 13.22 Canadian dollars (10.07 U.S. dollars) after analysts raised their price target for the firm.

Utilities had a strong day as Calgary-based Capital Power Corporation rose 3.54 percent to 23.99 Canadian dollars (18.27 U.S. dollars), while Newfoundland-based Fortis Inc. climbed 1.66 percent to 40.94 Canadian dollars (31.18 U.S. dollars).

Other sectors advancing on the day were Financials (0.67 percent), Consumer Staples (0.58 percent), Information Technology (0.57 percent), Health Care (0.44 percent), Industrials (0.14 percent), and Telecommunications (0.03 percent).

The gain in Financials group was due to Royal Bank of Canada (RBC), the largest bank in the country, launching a new face-to-face video banking option to their customers. RBC is the first Canadian financial institution to launch such technology an will allow customers to bank remotely on their computer, mobile device or tablet. As a result, shares of the Toronto-based bank gained 90 cents to 91.20 Canadian dollars (69.46 U.S. dollars).

Groups to finish in the red on Tuesday were Materials (0.47 percent) and Consumer Discretionary (0.19 percent).

Materials group continued to slump, as price of gold, silver and copper all lost ground. Gold faded 0.41 percent to 1161.00 US. dollars an ounce. Meanwhile, a pound of silver and copper faded 1.06 percent and 1.40 percent, respectively.

Subsequently, miners Arizona Mining and First Quantum Minerals Ltd. shares plunged 6.75 percent and 5.04 percent, respectively.

Outside the ten subgroups, marijuana stocks surged on Tuesday after a federal task force report released earlier in the day which recommended legalizing the drug for recreational purpose.

As a result, shares of Canopy Grown Corporation, the largest marijuana producer and distributor in Canada, soared 7.90 percent to 10.79 Canadian dollars (8.22 U.S. dollars).

Medical marijuana distributors Aurora Cannabis and Aphria Inc also benefited, rising 6.09 percent and 5.33 percent, respectively.

The Canadian dollar gained for a fifth straight day to 0.7616 U.S. dollars, a 0.0003 uptick from Monday's rate. Endite