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Toronto Stocks Finish Higher

J.M. Smucker to buy Hostess for $5.6 billion U.S.

The TSX closed higher on Monday fueled by Health and Technology stocks.

The TSX was up 108.11 points at 20,182.76.

The Canadian dollar strengthened 0.276 cents at 73.65 cents U.S.

In corporate news, Crescent Point Energy Corp. says it plans to spend $1.05 billion to $1.15 billion on development capital expenditures next year. Based on the plan, the company says it expects annual average production of 145,000 to 151,000 barrels of oil equivalent per day in 2024.

Rogers Communications on Monday launched of a cellphone financing strategy the company says will be a “fundamental shift” in the way customers can purchase their devices. Rogers Mastercard customers will be able to finance phones on a 36- to 48-month plan, with the option to pay them off at any time.

Gold prices rose 0.19% to $1,922.51 an ounce after losing 0.05% on Friday.

The benchmark oil price edged up 0.74% to $87.51.


The TSX Venture Exchange sank 0.26 points to 580.87.

Two of the 12 TSX subgroups traded in the red Monday, Energy slipped 1.86% and Consumer Discretionary stocks were off 0.01%.

The top gainers were, Health-care up 1.78%, Techs ahead 1.60% and Material issues up 1.20%.


U.S. stocks closed higher on Monday as investors await inflation and retail-sales data later this week.

The Dow Jones Industrial Average DJIA advanced 87.13 points, or 0.3% to 34,663.72. The S&P 500 SPX rose 29.97 points, or 0.7%, to 4,487.46 and the Nasdaq Composite COMP climbed 156.37 points, or 1.1%, to 13,917.89.

Tesla shares jumped more than 10% after Morgan Stanley upgraded the stock and predicted a significant rally ahead because of breakthroughs with its autonomous software.

Qualcomm shares rose 3.9% after the semiconductor company said Monday it will supply Apple with 5G modems for smartphones through 2026.

In other corporate news, Disney shares rose 1.2% after CNBC reported the media conglomerate and Charter Communications had reached a deal to end their cable blackout fight.

Hostess Brands shares soared 19.3% on Monday following confirmation that JM Smucker will pay $5.6 billion in cash and shares.

The yield on the 2-year Treasury rose 1.1 basis points to 4.993%, while the rate on the 10-year Treasury advanced 3 basis points to 4.287%.