Canada's main stock index eked higher Monday, with volumes expected to be light with the U.S. market closed for a holiday.
The S&P/TSX composite index began Monday up 21.10 points to 12,688.32
The Canadian dollar dropped 0.22 cents to 96.80 cents U.S.
Health-care stocks led the charge in Toronto this morning, with Valeant Pharmaceuticals zooming $6.00, or 6.9%, to $93.02, following its takeover of eyewear giant Bausch + Lomb.
Gold stocks also fared well at the outset, with Barrick Gold ahead 18 cents to $19.87, despite a hefty fine imposed on it by the Chilean government over environmental concerns at its operations in that country. Lake Shore Gold hiked two cents, or 6.5%, to 33 cents.
Faltering, though, in the day’s first hour were consumer staples, weighed mostly by grocery kingpin Metro Inc., down 63 cents, or 0.9%, to $69.47.
National Bank Financial raised the price target on Alaris Royalty to $33 from $31, saying exposure to the resource space provides the company with better cash flow diversification in a reasonably low-risk manner. Alaris shares acquired a dime to open the day at $30.00
National Bank Financial raised the rating on Santonia Energy Inc. to outperform from sector perform, says the company's balance sheet remains in excellent shape following corporate restructuring last year. Santonia shares gained five cents, or 3.1%, to $1.69.
There is no economic news due out today.
ON BAYSTREET
The TSX Venture Exchange accumulated 6.27 points to 948.32
Nine of the 14 Toronto subgroups began the session on the right foot, with health-care stocks sprinting ahead 2.4%, gold up 0.6%, and materials better by 0.5%.
The five laggards were weighed mostly by consumer staples, down 0.4%, while industrials and energy stocks lost 0.2% each.
Oil prices faded 57 cents to $93.51 U.S. a barrel.
Gold prices regained $7.20 at $1,393.80 U.S. an ounce
ON WALLSTREET
American markets are closed in honour of Memorial Day
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