Canada's main stock index rose in early trading on Monday, driven by gains in metals and mining stocks as well as financials, as investors digested news of strong election performances by pro-European forces in Italy and Germany.
The S&P/TSX composite index gained 46.57 points to open the week at 14,754.67
The Canadian dollar strengthened 0.08 cents to 92.07 cents U.S.
In the metals and mining sector, Sheritt International hiked 10 cents, or 2.3%, to $4.47.
Sun Life Financial, Canada's third biggest insurer, is boosting investment in Indonesia and Malaysia at a time when growth in earnings from some core Asian markets has slowed. Sun fell behind the clouds 25 cents to $36.87.
When Valeant Pharmaceuticals International raises its offer for Allergan Inc. -- as it has indicated it will -- it needs to hit the range of $180 to $200 per share, according to a JPMorgan survey of investors. Valeant shares gained $1.31 to $146.32.
Canaccord Genuity initiated coverage on Callidus Capital Corp with a buy rating. Callidus shares took on 30 cents to $18.00
Canaccord Genuity also initiated coverage on Industrial Alliance Insurance with a hold rating. The copmany’s shares dipped five cents to $42.15.
ON BAYSTREET
The TSX Venture Exchange grew 5.81 points to 993.76.
All 14 Toronto subgroups were positive in the first hour of trading, led by the metals and mining sector, ahead 0.7%, health-care, up 0.6%, and financials, gaining 0.3%
ON WALLSTREET
American markets are shuttered today for Memorial Day
Related Stories
