Equities in Canada’s biggest market rose on Monday to a fresh all-time peak as health-care shares climbed, while lower oil and gold prices
weighed on the energy and materials groups.
The S&P/TSX Composite hung onto gains of 16.33 points to greet noon at 15,745.45
The Canadian dollar added 0.23 cents at 76.45 cents U.S.
Among health-care concerns, Canopy Growth Corporation jumped 52 cents, or 4.2%, to $12.92, while Valeant Pharmaceuticals inched up three cents to $19.72.
Royal Bank of Canada rose 0.8% to $97.59 and Manulife Financial climbed 1.1% to $24.67, while the overall financials group gained
The materials group, which includes precious and base metals miners and fertilizer companies, fell, as Teck Resources Ltd rose 2.5% to $33.40 as copper reached its highest since May 2015 on supply curbs.
But gold stocks were weighed by lower gold prices, with Goldcorp falling 1.8% to $21.84.
Meantime, copper prices advanced 0.8% to $6,137 U.S. a tonne.
The energy group declined as oil fell in response to growing evidence that U.S. production is rising.
Canadian Natural Resources Ltd retreated 0.9% to $39.11
Canada sends 75% of its exports to the United States and its prime minister, Justin Trudeau, will look to nurture economic ties when he visits Trump on Monday.
ON BAYSTREET
The TSX Venture Exchange went lower 0.46 points to 835.7
Seven of the 12 subgroups were lower as the clock approached noon Monday, with gold trailing Friday’s close 1.3%, energy down 1%, and materials dipping 0.3%.
The five gainers were led by health-care, up 1%, industrials, gaining 0.6%, and financials, better by 0.5%.
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 125 points to 20,394.37, with Goldman Sachs the chief engine of this surge.
The S&P 500 gained 10.26 points to 2,326.36, with financials leading advancers
The NASDAQ added 29.03 points to 5,763.16, as Apple shares approached their all-time intraday high.
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 94 cents to $52.92 U.S. a barrel
Gold prices dropped $11.10 to $1,224.80 U.S. an ounce.
