Equity markets in Canada’s largest centre waxed and waned Monday, but manages to keep at least some of their gains following a disastrous session on Friday.
The S&P/TSX Composite ended the day way off its session, but still kept gains of 61.21 to close at 16,098.79
The Canadian dollar strengthened 0.34 cents to 75.43 cents U.S.
Among consumer discretionary, the sector showing the most muscle, BRP Inc. advanced 90 cents, or 2.4%, to $38.74, while Canadian Tire added $2.49, or 1.9%, to $134.04.
Photon Control led the gains enjoyed by tech stocks, growing nine cents, or 9.9%, to $1.00, while Shopify screamed higher $15.02, or 3%, to $523.43.
In consumer staples, Saputo soared 37 cents, or 1%, to $39.29, while Alimentation Couche-Tard hiked 76 cents, or 1%, to $80.00
Gold lost some of its allure Monday, as Alamos Gold stumbled 34 cents, or 3.5%, to $9.36, while Kinross Gold lost nine cents, or 1.3%, to $6.60.
Among telecoms, Rogers tailed off 33 cents to $65.72, while Cineplex slid 14 cents to $24.15.
Materials also faded, with Western Forest Products declining four cents, or 3.3%, to $1.16, while Cascades tumbled 48 cents, or 4.2%, to $10.97.
ON BAYSTREET
The TSX Venture Exchange gained 1.29 points to 583.24
All but three of the 12 Toronto subgroups were positive on the day, with consumer discretionary stocks ahead 1.1%, information technology better by 0.9%, and consumer staples, improving 0.5%.
The three laggards were in gold, sliding 0.5%, communications, down 0.4%, and materials, off 0.3%.
ON WALLSTREET
Stocks jumped on Monday after President Donald Trump said China is ready to come back to the negotiating table following a phone call Sunday.
The Dow Jones Industrial Average catapulted 269.93 points, or 1.1%, to 25,898.83.
The S&P 500 jumped 31.27 points, or 1.1%, to 2,878.38
The NASDAQ spiked 101.93 points, or 1.3%, to 7,853.73.
For August, the major indexes are all down more than 3% as U.S.-China trade tensions rise.
Semiconductor stocks such as Micron improved 1.1%, and Advanced Micro Devices gained 2.5%. Apple led the Dow, rising 1.9%.
Speaking to reporters at the Group of Seven meeting in Biarritz in France Monday, Trump said the two countries would start talking very seriously.
The latest news on the U.S.-China trade front come after Trump said on Friday the U.S. will raise tariffs on $250 billion worth of Chinese goods to 30% from 25%. Tariffs on another $300 billion in Chinese products will also go up to 15% from 10%, he said. Stock futures initially fell overnight on Trump’s comments before rebounding.
Prices for the benchmark 10-year U.S. Treasury faded slightly, raising yields to 1.54% from Friday’s 1.53%. Treasury prices and yields move in opposite directions
Oil prices gave back 38 cents to $53.79 U.S. a barrel.
Gold prices took on 90 cents to $1,538.50 U.S. an ounce.
