Equity markets in Toronto were up only slightly Monday morning, as investors remained positive following better-than-expected euro zone data and signs of economic reform in China.
The S&P/TSX composite index picked up 5.94 points Monday to open for business at 13,488.51
The Canadian dollar inched up 0.11 cents to 95.91 cents U.S.
Barrick Gold and Goldcorp are looking to sell their jointly-owned Marigold mine in Nevada, according to sources familiar with the situation. The mine produced just under 40,000 ounces of gold in the third quarter. Barrick shares fell 11 cents to $18.79, while Goldcorp docked three cents to $25.37
U.S. hedge funds Scout Capital Management and Highfields Capital disclosed in regulatory filings that they have trimmed their stakes in Tim Hortons after shares in the coffee and doughnut chain posted big gains. Tim shares took on seven cents to $61.96
CIBC cut the rating on IBI Group to sector underperformer from sector performer as the company reported third-quarter results that reflected write-downs of uncollectible amounts. IBI shares doffed 24 cents to $1.01
RBC raised the price target on Ithaca Energy to $3.50 from $3.20 following the company's strong third-quarter results. Ithaca shares gained four cents to $2.50
In the economic docket, Statistics Canada told us this morning that international transactions in Canadian securities hiked to $8.4 billion in September, while we reduced our holdings in offshore investment instruments by $1.5 million.
ON BAYSTREET
The TSX Venture Exchange dipped 0.17 points to 933.90
Five of the 10 TSX subgroups were lower at the outset Monday, with materials and health-care subsiding 0.2% each, while energy tailed off 0.1%.
The four gainers were led by financials, utilities and consumer staples, each up 0.3%.
ON WALLSTREET
The Dow Jones industrial average topped 16,000 for the first time ever Monday, while the S&P 500 surpassed 1,800.
The Dow gained 53.25 points to 16,015
The S&P 500 index dipped 2.28 points to 1,795.90, after briefly surpassing 1,800. The NASDAQ eased 2.09 points to 3,983.88
The Dow is up more than 20% this year. The S&P 500 has soared more than 25% so far this year. The NASDAQ is also on the verge of a milestone. The tech-heavy index was up a bit and is nearing 4,000, a level it hasn't hit since September 2000 -- just months after the tech market collapsed.
Boeing shares rose Monday after the aircraft maker said it sold more than $95 billion U.S. of its new 777X at the Dubai air show. Boeing said it was a record launch for a new aircraft and was far more than analysts had been forecasting. Boeing has been the biggest gainer in the Dow this year, soaring more than 85%.
Sony shares rose after the company said it sold more than one million units of its new PlayStation 4 gaming console in the first 24 hours since the game console went on sale early Friday. The game system is Sony's first in seven years and is going head-to-head with Microsoft's upcoming Xbox One this holiday season. Shares of Microsoft slipped.
While stocks continued to soar, so did Bitcoin. The price of the digital currency touched an all-time high above $600 U.S. earlier Monday, up almost 20% from Friday's closing price of $528.32 U.S.
Since the start of October, the price of Bitcoin has more than quadrupled in value.
The latest surge has been fueled by the interest of new investors, especially those in China, who are becoming increasingly optimistic about the digital currency's potential growth.
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.69% from Friday’s 2.71%. Treasury prices and yields move in opposite directions.
Oil prices dipped 15 cents to $93.69 U.S. a barrel.
Gold prices shed four dollars to $1,283.40 U.S. an ounce.
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