Canada's main stock index edged higher on Monday, with gold mining and materials shares leading the gains, as investors were optimistic following last week's rally and the Bank of Canada's willingness to support the domestic economy.
The TSX Composite Index added 22.86 points, to open Monday at 29,791.22.
The Canadian dollar faded 0.15 cents to 72.41 cents U.S.
In company news, Pension fund La Caisse will buy Australian renewables developer Edify Energy for A$1.1 billion ($724.57 million U.S.).
On the economic beat, Statistics Canada reported In August, the Industrial Product Price Index increased 0.5% month over month and gained 4.0% year over year in August, while its raw materials price index declined 0.6% month over month and rose 3.2% year over year.
ON BAYSTREET
The TSX Venture Exchange sprinted 12.66 points, or 1.4%, to 917.45.
Eight of the 12 subgroups were in plus territory soon after the open, led by gold and materials, each 0.9%. while utilities acquired 0.6%.
The four laggards were weighed most by real-estate, skidding 0.6%, while consumer staples and information technology each gave back 0.5%.
ON WALLSTREET
The S&P 500 was relatively unchanged Monday following a strong week for the major averages that drove them to fresh record highs.
The Dow Jones Industrials lost 46.61 points to begin the week at 46,268.66.
The much-broader index squeezed ahead 6.82 points to 6,671.18
The tech-heavy NASDAQ gained 56.99 points to 22,688.47.
Stocks were kept in check by the growing risk of a government shutdown. Last week, the Senate rejected Republican and Democratic proposals at least temporarily to fund the federal government.
Senate Democratic Leader Chuck Schumer has since urged President Donald Trump to meet with Democrats to strike a deal.
These developments come as the deadline for lawmakers to fund the government is Sept. 30.
The stock market is coming off a solid weekly advance, with the three major indexes hitting all-time highs.
Pfizer gained ground after an announcement it would buy Metsera for $4.9 billion in cash. The deal is expected to close in the fourth quarter. Pfizer shares ticked 61 cents, or 2.5%. higher to $24.64.
Prices for 10-year Treasury faded slightly Monday, pushing yields up to 4.14% from Friday’s 4.13%. Treasury prices and yields move in opposite directions.
Oil prices dipped 45 cents to $62.23 U.S. a barrel.
Gold prices surged $47.40 to $3,753.20 U.S. an ounce.
