The Toronto market enjoyed higher numbers Monday amid rising commodity prices and positive trade data from China.
The S&P/TSX composite index gained 5.92 points to greet noon at 14,696.75
The Canadian dollar dropped 0.17 cents to 88.13 cents U.S.
The earnings season is starting to wind down this week but a number of corporate heavyweights are to post results including home improvement retailer RONA on Tuesday, energy giant Encana, miner Iamgold, and grocer Loblaw Cos. on Wednesday and insurer Manulife Financial on Thursday.
On Monday, Cargojet Inc. posted a $2.3-million net loss from continuing operations, or 25 cents per share, in contrast to a year-earlier profit of $225,000 or three cents per share. Cargojet said the loss was due to increased expenses.
In the third quarter, Cargojet's overall revenue was up 8.8% compared with a year ago at $47.2 million and revenue at its core business rose 12.6% to $33 million, mainly because of higher volume on its overnight network.
Data released overnight showed that China's export growth slowed to 11.6% in October from a year earlier, beating analysts' expectations of a 10% rise.
October's export growth was down from September's 15.3% growth.
Imports rose 4.6% from a year earlier, slightly below forecasts calling for a 5% gain.
The trade surplus of the world's second-biggest economy also beat expectations as it widened in October to $45.4 billion U.S. from $30.9 billion in September, higher than the forecast calling for a $42.3-billion surplus.
Other data showed China's consumer price index rose 1.6% in October from a year earlier, the same increase as in September.
Domestically, Canada Mortgage and Housing Corp reported the seasonally adjusted annualized rate of housing starts declined to 183,604 units last month from a revised 197,355 units in September.
ON BAYSTREET
The TSX Venture Exchange slid 1.73 points to 768.53.
Nine of the 14 Toronto subgroups were higher, led by information technology, up 1.4%, consumer staples, up 1.3%, and real-estate, ahead 1%.
The five laggards were weighed mostly by gold, down 4.4%, materials, down 2.2%, and energy, down 1.1%.
ON WALLSTREET
U.S. stocks rose Monday, lifting benchmarks to records, as investors tracked corporate results as the earnings season starts to wind down
The Dow Jones Industrials recovered 24.21 points to 17,598.14
The S&P 500 eked up 4.13 points to 2,036.05. The NASDAQ index gained 9.16 points to 4,641.69.
Time Warner Cable, Comcast and Cablevision Systems declined after President Barack Obama urged an "explicit ban on paid prioritization" to protect the open internet, saying in a statement that there should not be any slowing of internet content. Time Warner and Comcast both sell broadband service.
McDonald's gained after the fast-food chain and Dow component reported same-store sales slid in October. Toll Brothers climbed after the luxury homebuilder reported a 29% increase in quarterly revenue.
Alibaba Group rose ahead of Tuesday's "Singles' Day" in China, which has become the biggest day of online sales globally.Dendreon plunged after the maker of a prostate-cancer treatment filed for bankruptcy.
Abercrombie & Fitch fell after Oppenheimer downgraded the retailer's shares to market perform from outperform.
Of the 442 S&P 500 companies to report earnings through Friday, 74.2% topped Wall Street estimates, with earnings expected to increase 9.8%from the year-earlier period, according to data compiled by Thomson Reuters.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.34% from Friday’s 2.31%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.04 to $77.61 U.S. a barrel.
Gold prices moved lower $11.20 to $1,158.60 U.S. an ounce.
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