Canada's main stock index rose to a new record high on Tuesday, led by the heavyweight financial and energy groups as oil prices climbed, while lower gold prices weighed on gold miners.
The S&P/TSX Composite recovered 56.36 points to open a short week at 15,894.99
The Canadian dollar fell 0.27 cents to 76.03 cents U.S.
Stock markets in Toronto were closed Monday for Family Day.
Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, is reportedly nearing a deal to acquire Popeyes Louisiana Kitchen Inc.
Restraurant Brands shares rocketed $4.68, or 6.6%, to $75.35.
The Canada Border Services Agency said on Monday it would investigate whether silicon metal from Brazil, Malaysia and five other countries was being sold at unfairly low prices in Canada after a Quebec-based company filed a complaint.
KBW raised the target price on Bank of Montreal to $105.00 from $95.00. BMO shares took on 56 cents to $101.97.
CIBC cut the target price on Fairfax Financial Holdings to $600 from $650. Fairfax shares collapsed $2.52, or 1.4%, to $615.48.
KBW raised the target price Royal Bank of Canada to $92.00 from $83.00. RBC shares took on 71 cents to $99.80.
On the economic ledger, Statistics Canada reported Monday that wholesale trade rose 0.7% to $57.3 billion in December, a third consecutive gain.
The agency says six of the seven sub-sectors, representing 82% of total wholesale sales, improved, the leaders being the machinery, equipment and supplies sub-sectors, as well as the building material and supplies sub-sector.
ON BAYSTREET
The TSX Venture Exchange gained 2.03 points to 845.95
All but three of the 12 subgroups were gainers, with health-care surging 1.7%, consumer discretionary stocks moving up 1.5%, and energy up 0.9%.
The three laggards were gold, off 1.9%, materials, sliding 0.8%, and real-estate, off 0.03%.
ON WALLSTREET
U.S. equities kicked off the week on the right foot, notching fresh record highs Tuesday following a key naming by the Trump administration and corporate earnings.
The Dow Jones Industrials leaped 81.22 points above Friday’s all-time high to 20,705.27, with Goldman Sachs contributing the most gains
The S&P 500 jumped 10.16 points to 2,361.32, with energy outperforming
The NASDAQ gained 21.77 points to 5,860.34.
The White House announced Monday that Lieutenant General H. R. McMaster will become the new national security advisor. McMaster replaces Michael Flynn, who resigned last week.
Investors also digested several corporate quarterly results, including retail giants Macy's and Home Depot. Macy's posted mixed results, beating earnings per share estimates but falling short on sales, while Home Depot exceeded Wall Street expectations.
In economic news, the flash read on the IHS Markit U.S. purchasing managers' index hit 54.3 for February, falling slightly from January's 14-month peak.
Prices for the benchmark 10-year Treasury note lost ground, lifting yields to 2.43% from Friday’s 2.42%. Treasury prices and yields move in opposite directions.
Oil prices tacked on a dollar to $54.40 U.S. a barrel
Gold prices faded $4.90 to $1,234.20 U.S. an ounce.
