Equities in Canada’s largest centre moved slightly higher on Monday as financial sector stocks rose, while one of the country's major oil producers began ramping up operations which were disrupted by a massive wildfire.
The S&P/TSX Composite Index eked up 3.71 points to open the week at 14,108.94
The Canadian dollar slid 0.21 cents to 76.54 cents U.S.
Suncor Energy's facilities north of Fort McMurray, Alberta, were expected to restart partially by the end of the week, the company said on Sunday, the latest sign Canadian oil sands producers are coming back online after a massive wildfire.
Suncor shares dipped 11 cents to $35.79.
Raymond James raises price target on First Majestic Silver to $8.00 with an underperform rating.
First Majestic lost 15 cents, or 1.7%, to $8.77
Raymond James then raised the price target Fortuna Silver Mines to $8.25, with an outperform rating.
Fortuna shares gained four cents to $7.18.
On the economic front, Statistics Canada says its industrial product price index declined 0.5% in April, led by lower prices for motorized and recreational vehicles, while higher prices for energy and petroleum products helped moderate the fall.
The agency’s raw materials price index increased 0.7%, during the same month, led by higher prices for crude energy products.
Oil prices subsided seven cents a barrel to $49.26 U.S.
Gold prices were off $3.60 to $1,208.78 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange regained 2.8 points to 671.34.
Eight of the 13 TSX subgroups were higher, led by health-care, up 0.6%, utilities, ahead 0.5%, and real-estate, nosing up 0.2%.
The five laggards were weighed mostly by metals and mining, down 0.9%, energy, sinking 0.5%, and materials, off 0.3%.
ON WALLSTREET
Markets in the United States were closed for Memorial Day
