Stocks in Canada’s largest centre moved higher Monday, as resource stocks led the way.
The S&P/TSX Composite Index strengthened 78.12 points to close Monday at 15,105.28
The Canadian dollar faded 0.02 at 77.58 cents U.S.
Materials made the best showing Monday, as Potash Corp. of Saskatchewan was the most influential gainer, rising $1.09, or 5.2%, to $22.13, while Agrium, which is set to merge with Potash later this year, advanced $6.31, or 5.4%, to $123.33.
Among gold plays, Barrick Gold rose 56 cents, or 2.8%, to $20.37, while Goldcorp gained 26 cents, or 1.6%, to $16.41.
Energy stocks soared, too, as Encana Corporation gained 48 cents, or 4.4%, to $11.28, while Cenovus Energy tacked on six cents to $9.08.
Among financials, Home Capital Group fell 66 cents, or 4.4%, to $14.47. The stock has retreated in recent sessions following news that Canada plans to ban some bundled residential mortgages to clamp down on risky lending.
The real-estate sector was one of the few that did not prosper, as units of Canadian Apartment Properties Real Estate Investment Trust capsized 28 cents to $32.44.
ON BAYSTREET
The TSX Venture Exchange dropped 2.68 points to 752.54.
All but two of the 12 TSX subgroups stayed above water on the day, as materials darted 2.9%, gold surged 2.4%, and energy was stronger 1%
The lone two holdouts were real-estate, sagging 0.2%, and utilities, down 0.1%.
ON WALLSTREET
U.S. equities closed mostly higher on Monday as Wall Street got ready for the start of the latest earnings season.
The Dow Jones Industrials faded 5.82 points to close Monday at 21,408.52, with Boeing contributing the most gains and Wal-Mart the most losses. The Dow transports, meanwhile, hit a record intraday high.
The S&P 500 gained 2.25 points to 2,427.43, with technology and materials leading advancers.
The NASDAQ acquired 23.31 points to 6,176.39, as technology stocks rose. Amazon's stock climbed 1.8% as the company got set for its so-called Prime Day. Prime Day features big deals for Amazon's Prime customers.
Tech stocks have been the best performers of 2017 thus far, with the sector rising 17%. But the sector has struggled over the past month, slipping 1.3%.
Earnings season will kick off on Friday when JPMorgan Chase, Citigroup and Wells Fargo all release their quarterly results. Investors also kept an eye out for earnings from large-cap technology companies.
There are no major economic data due Monday. However, key inflation data — along with monthly retail sales — are due out at the end of the week. Federal Reserve Chair Janet Yellen is also scheduled to testify in front of Congress Wednesday and Thursday.
Prices for the benchmark 10-year Treasury note nicked higher, lowering yields to 2.38% from Friday’s 2.39%. Treasury prices and yields move in opposite directions.
Oil prices retained 18 cents to $44.41 U.S. a barrel
Gold prices recovered $3.80 to $1,213.50 U.S. an ounce.
