TORONTO -- The Toronto stock market ended the day higher amid a shortened, pre-holiday session.
The S&P/TSX composite index advanced 13.28 points to 14,607.31, pushed up by gold and materials stocks even as both commodities fell. The Canadian dollar climbed 0.06 of a cent to 86.04 cents US.
Wall Street markets also mostly extended gains, with the Dow Jones industrials ahead 6.04 points to 18,030.21, adding to Tuesday's first-ever close above the 18,000-mark. The S&P 500 index was down 0.29 of a point at 2,081.88, while the Nasdaq added 8.05 points to 4,773.47.
Both the Toronto Stock Exchange and U.S. markets closed early at 1 p.m. eastern time and will remain closed on Christmas Day. Wall Street reopens Friday but the Toronto market will remain closed for Boxing Day.
In corporate news, Brookfield Asset Management (TSX:BAM.A) has hiked its offer to Brookfield Residential Properties (TSX:BRP) for full ownership of the North American land developer and homebuilder. Brookfield Asset and its affiliates already own nearly 70 per cent of BRP's shares and Brookfield has now upped its offer by 5.4 per cent from the initial proposal. If accepted, the deal will cost Brookfield Asset about US$870.6 million in cash. Shares in Brookfield Asset gained 48 cents to $58.22, while Brookfield Residential stock rose $1.33 to $27.90.
On the commodity markets, the February gold bullion contract was down $4.50 at US$1,173.50 an ounce, while March copper lost a penny to US$2.85 a pound.
