Equities in Canada’s largest centre opened higher on Monday as shares of cannabis producers gained and lifted the healthcare sector after a report that Coca-Cola was planning to make marijuana-infused beverages.
The S&P/TSX Composite Index gained 39.28 points to begin Monday at 16,052.77
The Canadian dollar peeled back 0.08 cents to 76.86 cents.
Canaccord Genuity raised the rating on Nighthawk Gold to speculative buy from hold, and the price target to $0.60 from $0.50. Nighthawk stock improved half a cent, or 1.6%, to 31 cents.
CIBC raised the price target on Alaris Royalty to $19.00 from $18.00. Alaris shares gathered 61 cents, or 3.1%, to $20.32.
Among health-care concerns, Canopy Growth moved higher $1.13, or 1.8%, to $62.65.
In things macroeconomic, Statistics Canada reported that foreign investment in Canadian securities reached $12.7 billion in July, mainly from acquisitions of federal government bonds. At the same time, Canadian investment in foreign securities totaled $13.1 billion, led by record purchases of foreign bonds.
Also, the Canadian Real Estate Association said national home sales via Canadian MLS Systems edged up by 0.9% in August 2018, marking a fourth consecutive monthly gain. However, CREA added, sales activity is still running below levels in most other months going back to early 2014.
ON BAYSTREET
The TSX Venture Exchange tacked on 4.09 points to start the week at 719.25
All but three of the 12 subgroups were higher, as health-care climbed 2.2%, while materials strengthened 0.7%, and consumer staples jumped 0.5%.
The three laggards proved to be industrials, fading 0.3%, real-estate, off 0.2%, and energy, inching back 0.02%.
ON WALLSTREET
Stocks traded lower on Monday as increasing tensions between the U.S. and China, the two largest world economies, puts potential trade talks in doubt.
The Dow Jones Industrial Average eked up 2.96 points to 26,157.63. The Dow came into the session riding a four-day winning streak.
The S&P 500 faded 5.95 points to 2,899.03, having posted five straight days of gains.
The NASDAQ shed 68.25 points to 7,941.79, as shares of Apple and Micron fell.
Boeing shares fell 0.3%. The company is considered a bellwether for global trade given its exposure to overseas markets.
Apple shares fell 0.6% amid fears it could be caught in the middle of a U.S.-China trade war. China is one of Apple's biggest markets. The tech giant said earlier this month that tariffs on Chinese goods could hurt its business.
Large-cap tech shares also fell, pressuring on the broader market.
Twitter dropped nearly 4% after MoffettNathanson reiterated its sell rating on the stock, noting cost growth should accelerate moving forward.
Micron's stock dropped 1% analysts at BMO Capital Markets and Deutsche Bank slashed their price targets on the stock, citing weaker pricing for memory chips.
Prices for the benchmark for the 10-year U.S. Treasury were unchanged, keeping yields at Friday’s 3%.
Oil prices picked up 58 cents to $69.57 U.S. a barrel.
Gold prices increased $5.70 to $1,206.80
