Equity markets in Canada’s largest centre climbed to new record highs soon after the opening bell, largely on the strength of financial and health-care stocks.
The S&P/TSX Composite gained 39.69 points to open Monday at 15,768.81
The Canadian dollar added 0.1 cents at 76.32 cents U.S.
Restaurant Brands International Inc., the owner of Burger King and Tim Hortons, reported a quarterly profit that more than doubled from a year ago, when it recorded a one-time charge related to the merger of the two brands.
Restaurant Brands hiked $1.68, or 2.5%, to $68.89.
First Quantum Minerals reported that heavy rains have cut access in and out of its Ravensthorpe nickel-producing operations in Western Australia.
First Quantum shares gathered 51 cents, or 3%, to $17.37.
Barclays raised the target price on Bank of Montreal to $86 from $82. BMO shares picked up 65 cents to $100.80.
Canaccord Genuity cut the target price on Cara Operations to $29.00 from $34.00. Cara shares inched up three cents to $26.06.
National Bank Financial cut the rating on TransAlta Corp. to sector perform from outperform. TransAlta sank 34 cents, or 4.3%, to $7.55.
ON BAYSTREET
The TSX Venture Exchange picked up 1.59 points to 837.75
Eight of the 12 subgroups were higher in the first hour of trading, with consumer discretionary stocks up 0.8%, health-care up 0.7%, and financials, advancing 0.6%.
The four laggards were weighed most by gold, dulling in price 0.9%, energy, sinking 0.4%, and utilities, off 0.3%.
ON WALLSTREET
U.S. stocks rose on Monday, notching fresh record highs, as investors remained bullish on President Donald Trump's economic agenda.
The Dow Jones Industrials jumped 98.79 points to 20,368.16, with Goldman Sachs contributing the most gains.
The S&P 500 gained 8.95 points to 2,325.05, with financials leading advancers
The NASDAQ added 27.09 points to 5,761.22
On the earnings front, Restaurant Brands International, Teva Pharma and First Data were among the companies posting quarterly results before the bell. Arch Capital Group, Noble Energy, Vornado Realty and OneMain Holdings are all due to report after the market close.
There are no major economic data due Monday, but investors will be looking ahead to Federal Reserve Janet Yellen's testimony on Capitol Hill, slated for Tuesday.
Prices for the benchmark 10-year Treasury note faded, raising yields to 2.44% from Friday’s 2.40%. Treasury prices and yields move in opposite directions.
Oil prices lost 72 cents to $53.14 U.S. a barrel
Gold prices dropped $12.50 to $1,223.40 U.S. an ounce.
