Stocks in Canada’s biggest centre rose on Monday and reached a three-week high, as gains in prices of commodities such as gold and silver boosted share prices of mining companies.
The S&P/TSX Composite Index gathered 61.7 points to greet noon at 15,700.15
The Canadian dollar fell 0.22 cents to 78.84 cents U.S.
The largest percentage gainer on the TSX was Lucara Diamond, which rose 22.1%, while the largest decliner was Maxar Technologies Ltd, down 6.2%.
Among the most active Canadian stocks by volume were Bombardier B, up 2% at $4.06; Lucara Diamond, up 22.1% to $2.60 and Katanga Mining, up 10.7% to $2.18.
Energy stocks surged, too, as Enerplus Corporation climbed 55 cents, or 3.8%, to $15.04, while industrial concerns like Bombardier acquired eight cents, or 1.9%. to $4.06
ON BAYSTREET
The TSX Venture Exchange stayed afloat 1.1 points to 827.19
All but two the 12 TSX subgroups remained positive by noon, with gold and energy each stronger by 0.8%, and industrials better 0.5%.
The two laggards were health-care, ailing 1.1%, and consumer discretionaries, tailing off 0.2%.
ON WALLSTREET
U.S. stocks traded sharply higher Monday, regaining roughly half of their correction-level losses amid stabilization in Treasury rates.
The Dow Jones Industrials rocketed 260.71 points, or 1%, to pause for lunch Monday at 25,570.70, with industrial titans Boeing and 3M contributing the most to the blue-chip index.
The S&P 500 added 19.33 points to 2,766.63, after with a strong performance in telecommunications and technology stocks.
Verizon and AT&T both added 0.7% and 1.1% respectively.
The Dow and S&P 500 have more than halved their correction losses; both are down less than 4% from all-time highs notched in January.
The NASDAQ Composite barreled forward 51.18 points to 7,388.57, thanks to a 2 percent rally in Apple shares and a 1.7% gain in Intel.
General Electric broke below $14 per share after naming three new directors to its board. The latest depreciation in shares prices comes after months of turbulent times for the original Dow member; new chief executive officer John Flannery has pledged to trim the company by exiting several businesses.
Investors will be waiting for news surrounding the National Rifle Association's relationship with leading businesses, with a growing list of companies choosing to end their partnerships following the mass shooting at a public high school in Florida.
In other data news, sales of new homes fell for a second straight month in January. The Commerce Department said on Monday that sales dropped 7.8%; economists had forecast new home sales up nearly 4%
The contraction in sales is being blamed largely on a shortage in houses as well as rising mortgage rates.
Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.85% from Friday’s 2.87%. Treasury prices and yields move in opposite directions.
Oil prices recovered 47 cents a barrel to $64.02 U.S.
Gold prices retained gains of $2.20 to $1,332.50 U.S. an ounce.
