Equities in Canada’s largest market finally made some headway Monday, after a disastrous week and a dreadful month of October.
The TSX increased 116.23 points to close Monday at 15,696.87.
The Canadian dollar leaped 0.79 cents at 75.59 cents U.S.
Pot producers pointed the way forward by Monday’s closing bell, as Aurora Cannabis picked up 87 cents, or 16.2%, to $6.25, while rival Canopy Growth rose $2.75, or 11%, to $27.78.
Among energy stocks, Imperial Oil climbed 80 cents, or 4.5%, to $18.52, while Whitecap Resources jumped 12 cents, or 4.9%, to $2.55.
In the industrial sector, Brookfield Business Partners gained $1.79,. or 4.6%, to $40.67, while Westshore Terminal Investment hiked 60 cents, or 4.5%, to $13.99.
On the downside, tech stocks gave up some early momentum, as Enghouse Systems dropped $1.59, or 2.4%, to $64.52, while Lightspeed POS fell $1.24, or 2.9%, to $41.38.
In communications, Telus sagged 23 cents, or 1%, to $22.55, while Shaw Communications slid 14 cents to $21.81.
Consumer discretionary stocks also were in the minus category, with Aritzia off 53 cents, or 2.6%, to $19.59, while Restaurant Brands International fell 86 cents, or 1.2%, to $68.38.
In the economic basket, the Markit Canada Manufacturing Purchasing Managers’ Index registered 55.5 in October, down slightly from 56.0 in September, indicative of another strong improvement in overall business conditions.
ON BAYSTREET
The TSX Venture Exchange regained 7.45 points, or 1.1%, to close Monday at 691.23.
All but three of the 12 TSX subgroups were in positive territory to begin the week, with health-care soaring 5.9%, while energy captured 2.4%, and industrials charged ahead 2%.
The three laggards were information technology, down 1.4%, while communications skidded 0.4%, and consumer discretionary lost 0.1%.
ON WALLSTREET
Stocks rose on Monday, the first trading day of the month, as markets recovered some of the sharp losses from last week and braced for the U.S. presidential election.
The Dow Jones Industrials popped 423.45 points, or 1.6%, to 26,925.05.
The S&P 500 recovered 40.28 points, or 1.2%, to 3,310.24.
The NASDAQ recouped 46.02 points to 10,957.81.
Honeywell and Walgreens Boots Alliance were the best-performing Dow stocks on Monday, gaining more than 5% each. The S&P 500 was led higher by gains in the energy, materials and industrial sectors. Energy and materials each gained at least 3.4% and industrials popped 2.7%. Big Tech, meanwhile, struggled as Facebook docked 0.7% and Amazon dipped 1%.
The major averages hit their session highs on Monday after Institute for Supply Management said its manufacturing index reached a two-year high in October. The market’s comeback came even as England adopted a stay-at-home order to fight the coronavirus.
Ahead of Tuesday’s election, Joe Biden holds a substantial national lead over President Donald Trump. The former vice president garnered 52% of support from registered voters versus 42% for the president, according to a NBC News/Wall Street Journal poll from Sunday.
The Senate election could also be crucial for the markets as many key policy shifts including further fiscal stimulus hinge on who holds the majority control.
The major averages hit their session highs on Monday after Institute for Supply Management said its manufacturing index reached a two-year high in October. The market’s comeback came even as England adopted a stay-at-home order to fight the coronavirus.
Prime Minister Boris Johnson announced Saturday Britain is closing all nonessential businesses for the next four weeks after more than 22,600 weekly Covid-19 cases were reported for the U.K., far higher than its first peak of 4,800 average weekly cases in the spring. People will be ordered to stay at home unless it’s for essential purposes, Johnson said.
The U.S. is also grappling with rising new coronavirus infections. The nation reported 99,321 new Covid-19 cases on Friday, beating its previous record set only a day prior, according to Johns Hopkins University. The top five records in daily cases have all been reported within the last eight days.
Prices for the 10-Year Treasury gained, lowering yields to 0.85% from Friday’s 0.87%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.23 at $37.02 U.S. a barrel.
Gold prices improved $15.80 to $1,895.70
