Equities in Canada’s largest market moved marginally higher, on new information from Statistics Canada
The TSX Composite Index picked up 13.22 points to 16,707.49
The Canadian dollar dipped 0.10 cents at 75.44 cents U.S.
BMO cut the target price on CCL Industries to $69 from $70. CCL shares gained nine cents to $53.17.
Canaccord Genuity initiated coverage on Akumin Inc. with buy rating. Akumin shares were unchanged at three dollars.
On the economic front, Statistics Canada’s industrial product price index rose 0.2% in August. Higher prices for meat, fish and dairy products and for primary non-ferrous metal products were mostly offset by lower prices for energy and petroleum products.
Meanwhile, the agency’s raw materials price index fell 1.8%, mainly as a result of lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange faded 5.25 points on the day, to 568.57, a weekly tumble of nearly 21 points, or 3.5%.
All but one of the 12 Toronto subgroups remained in the red till the closing bell, as gold dulled in price 2.5%, while health-care docked 2%, and communications shed 1.7%
Only financials showed some positive energy on the day, and only 0.02% at that.
ON WALLSTREET
Stocks traded higher on Monday, the last day of the month, as investors kept an eye on the latest trade developments between the U.S. and China.
The Dow Jones Industrials regained 96.05 points to 26,916.30
The S&P 500 recouped 12.31 points to 2,974.10
The NASDAQ Composite restocked 34.05 points to 7,973.68
Health care was the best-performing sector in the S&P 500, climbing 0.9%. Tech advanced 0.7% as Apple shares rose 1.5% on a price-target increase by an analyst at J.P. Morgan. The analyst’s new price target implies a more-than 20% increase for the tech giant over the next 12 months.
U.S. and China trade delegations are due to meet on Oct. 10 as both sides try to move closer to a deal. Both countries have slapped tariffs on billions of dollars worth of their goods, dampening expectations for economic and corporate profit growth.
The major indexes were headed for a mixed monthly performance. The NASDAQ was down slightly for September entering Monday’s session while the S&P 500 and Dow were up more than 1%.
Monday also marked the end of the third quarter. Both the Dow and S&P 500 were headed for their third straight quarterly gains. The NASDAQ, meanwhile, was on pace to notch its first quarterly decline of 2019.
Prices for the benchmark 10-year U.S. Treasury were slightly higher, lowering yields to 1.69%, from Friday’s 1.68%. Treasury prices and yields move in opposite directions.
Oil prices slipped 59 cents to $55.32 U.S. a barrel.
Gold prices dropped $13.40 to $1,493.00 U.S. an ounce.
Related Stories
