Equities in Canada’s largest market edged higher in early trade on Monday, with gains in health-care and information technology stocks leading the path upward.
The S&P/TSX Composite Index acquired 11.82 points to begin a new week at 16,107.89
The Canadian dollar eked up 0.01 cents to 77.76 cents U.S.
Fairfax Africa Investments Proprietary Ltd will not proceed with a plan to buy 23% of cement producer PPC for two billion rand ($146.34 million U.S.), according to the South African company.
Fairfax Africa shares were positioned at $14.31, exactly where they finished off Friday.
Citigroup raised the target price on Cenovus Energy to $13.00 from $10.00. Cenovus retreated four cents to $12.11.
Raymond James cut the price target on Keyera Corp. to $41.00 from $44.00. Keyera shares docked eight cents to $34.56
Eight Capital raised the price target on Royal Bank Of Canada by $6.00 to $113.00. RBC shares lost 15 cents to $102.32
ON BAYSTREET
The TSX Venture Exchange gained 0.09 points to start Monday at 793.05
Seven of the 12 TSX subgroups were positive, with health-care picking up 0.9%, while information technology and materials took on 0.7% each.
The five laggards were weighed mostly by consumer discretionary and industrials stocks, each down 0.2%, and real-estate, backtracking 0.1%.
ON WALLSTREET
U.S. equities traded flat on Monday after an explosion that took place near New York City's Times Square.
The Dow Jones industrials gained 10.13 points, to 24,339.29.
The S&P 500 picked up 2.75 points to 2,654.25,
The NASDAQ gained 13.61 points to 6,853.69
In corporate news, shares of wearables maker Fitbit rose 3.5% after the company announced it a reached a settlement with Jawbone which ends all outstanding civil litigation.
Meanwhile, Spark Therapeutics shares tanked 40% after initial data on a drug aimed at treating hemophilia A disappointed investors.
A senior New York City Police Department official said that one person was in custody following the incident. Police also said the person in custody sustained a minor injury. Multiple reports say the suspect detonated what is believed to be a pipe bomb.
On the data front Monday, the main piece of economic news set to be released is the Job Openings and Labour Turnover Survey (JOLTS) data.
Wall Street also looked ahead to the upcoming monetary policy meeting by the Federal Open Market Committee, to see if the central bank raises interest rates for the final time this year.
Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.37% from Friday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices gained 20 cents a barrel to $57.56 U.S.
Gold prices improved $1.90 to $1,250.30 U.S. an ounce.
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