Stock markets in Toronto continued on the march on Monday, the first day of the last quarter of 2017, with health-care and tech stocks enjoying emphatic gains.
The S&P/TSX Composite Index advanced 70.06 points to close Monday at 15,705.
The Canadian dollar dipped 0.51 cents to 79.91 cents U.S
In the health-care field, the star sector Monday, Canopy Growth triumphed 55 cents, or 5.1%, to $11.27, while Aphria jumped 21 cents, or nearly 3%, to $7.33.
In the tech sector, BlackBerry strengthened 30 cents, or 2.2%, to $14.25, while Constellation Software packed on $10.78, or 1.6%, worth of muscle to close at $691.52.
Real-estate concerns also enjoyed gains, particularly Brookfield Asset Management, higher by 48 cents a share to $52.00
The most influential weights included Suncor Energy, which fell 38 cents to $43.35, while MEG Energy Corp went south 20 cents, or 3.6%, to $5.29
Jean Coutu Group gained 41 cents, or 1.7% to $24.71 after grocer Metro Inc. said it would buy the pharmacy chain for $24.50 a share. Metro’s stock dropped 53 cents, or 1.2%, to $42.38.
ON BAYSTREET
The TSX Venture Exchange weakened 0.77 points to 780.46
All but one of the 12 TSX subgroups ended the session higher, with health-care soaring 2%, information technology up 1.3%, and real-estate concerns up 1%.
Only energy stocks missed the party, down 0.5%.
ON WALLSTREET
U.S. equities closed at record highs on Monday as Wall Street kicked off the fourth quarter on a high note.
The Dow Jones Industrials soared 152.51 points to 22,557.60, with Goldman Sachs contributing the most to the gains.
The S&P 500 picked up 9.76 points to 2,529.12, led by gains in health-care and financials. Health-care was one of the best-performing sectors, rising 0.9%, as biotech stocks posted their best day since Aug. 31. Financials rose 0.9% and have gained nearly 2% the past month.
General Motors, meanwhile, was among the best-performing S&P components, advancing 4.4% after analysts at Deutsche Bank reiterated their buy rating on the stock.
The NASDAQ added 20.76 points to 6,516.72, despite shares of Facebook, Netflix and Alphabet falling.
The three indexes also set intraday records at the open, as they began a historically positive period for stocks. According to expert analysis, the Dow, S&P and NASDAQ have averaged strong fourth-quarter returns in the past 25 years.
Stocks wrapped up the third quarter on Friday, with the Dow posting its first eight-quarter winning streak in 20 years. The index rose 4.9% last quarter, while the S&P picked up 3.9% and NASDAQ gained 5.8%.
Elsewhere, casino stocks fell after the Las Vegas massacre, the deadliest shooting in U.S. history. Las Vegas Sands fell as much as 2.1% before closing 1.3% higher.
Wynn Resorts doffed 1.2% and MGM Resorts International fell 5.6%. The broader stock market remained higher as details of the shooting were released.
In economic news, the Institute for Supply Management manufacturing index rose to 60.8 in September. Dallas Federal Reserve President Robert Kaplan was also scheduled to speak this afternoon in New York.
Prices for the benchmark 10-year Treasury note were unchanged, holding yields at Friday’s 2.34%.
Oil prices slipped $1.13 a barrel to $50.54 U.S.
Gold prices fell 10 dollars to $1,274.80 U.S. an ounce
