Canada's main stock index rose on Monday as financial shares gained on expectations of an interest rate hike later this week.
The S&P/TSX Composite Index gained 51.75 points to move into noon hour at 16,423.53
The Canadian dollar gained 0.21 cents at 76.35 cents U.S.
The industrials sector rose, helped by growth in shares of Canadian National Railway Co and Canadian Pacific Railway.
CN spiked $2.16, or 2%, to $109.65
CP jumped $5.87, or 2.5%, to $243.10
Top percentage gainers on the TSX were Pretium Resources, which jumped 14.5%, or $1.54, to $12.16, and Torex Gold Resources, which rose 57 cents, or 5%, to $12.00
Nexgen Energy lost two cents to $2.57, while Centerra Gold fell 1.2%, or eight cents to $6.35
The Bank of Canada will hike interest rates this Wednesday as strong job growth and rising inflation pressures override concerns about a deepening trade rift with the United States.
ON BAYSTREET
The TSX Venture Exchange inched higher 0.31 points to 740.41
All but two of the 12 TSX subgroups were higher by midday, as industrials traveled 1.2%, while consumer discretionary and energy stocks collected 0.6% each
The two laggards were utilities, down 0.5%, and telecoms, lower by 0.4%.
ON WALLSTREET
Stocks traded higher on Monday as financials shares rose, while concerns over a trade war between the U.S. and key partners dissipated for the moment.
The Dow Jones Industrials triumphed 266.14 points, or 1.1%, to greet noon at 24,722.62, with J.P. Morgan Chase and Caterpillar as the best-performing stocks in the index.
The S&P 500 gained 19.11 points to 2,778.93, as financials climbed 1.8%
The NASDAQ hiked 39.16 points to 7,727.54.
Amazon, Netflix and Apple all rose at least half a percent. Bank stocks rose at least 2%, led by Bank of America, Citigroup, Goldman Sachs and J.P. Morgan Chase.
Wall Street looked ahead to the start of the corporate earnings season, with Citigroup, J.P. Morgan Chase and Wells Fargo all scheduled to release their results from the previous quarter. S&P 500 earnings for the second quarter are expected to have grown 20%, according to experts
Prices for the benchmark for the 10-year U.S. Treasury slumped, raising yields to 2.86% from Friday’s 2.83%. Treasury prices and yields move in opposite directions.
Oil prices handed back eight cents to $73.72 U.S. a barrel.
Gold prices picked up $6.50 to $1,262.30 U.S. an ounce.
