Markets moved higher early Monday morning, shaking off gloomy Chinese trade data, which showed exports and imports tumbled more than expected.
The S&P/TSX composite index hiked 65.19 points to begin the week at 15,149.11
The Canadian dollar regained 0.53 cents to 80.28 cents U.S.
Gran Tierra Energy more than halved its 2015 capex budget and cut its production forecast for the year following the sharp decline in oil prices. Gran Tierra gained 18 cents, or 5.3%, to $3.60.
Cameco Corp reported on Friday a 14% increase in quarterly earnings, helped by a 6% rise in average realized uranium prices. Cameco shares picked up 71 cents, or 3.8%, to $19.60.
National Bank Financials raised the price target on Brookfield Renewable Energy to $43.00 from $41.00. Brookfield Renewable units eked up six cents to $38.48.
Canaccord Genuity raised the price target on Input Capital to $3.75 from $3.50. Input shares added two cents to $2.82.
CIBC raised the price target on Canfor Corp. to $36.00 from $32.00. Canfor climbed 31 cents, or just more than 1%, to $30.43.
Economically speaking, Canada Mortgage and Housing Corporation reported this morning that housing starts rose to a seasonally adjusted 187,276 in January, increasing 4.3% from December
ON BAYSTREET
The TSX Venture Exchange gained back 0.89 points to 694.33
Eight of the 14 Toronto subgroups were up in the early part of the day. Energy stocks moved 1.2% higher, metals and mining improved 0.8%, and financials gained 0.7%.
The five laggards were weighed mostly by telecoms, down 0.5%, health-care, down 0.4%, and consumer discretionary stocks, off 0.1%.
Information technology stocks were unchanged in the first hour of trading.
ON WALLSTREET
U.S. stocks traded mostly lower on Monday on continued concern about the situation between Greece and the euro-zone.
The Dow Jones Industrials dropped 41.07 points to open Monday at 17,783.22, with Intel the greatest laggard and Chevron leading nine blue-chip gains.
The S&P 500 dropped 2.20 points to 2,053.27, with financials the greatest laggard and energy leading three advancing sectors.
The NASDAQ index subtracted 4.28 points to 4,740.28.
Fast-food giant McDonald's reported global same-store sales shrank 1.8% last month, which was worse than analysts had been expecting. The stock ticked lower ahead of the opening bell.
Hasbro reported quarterly earnings of an adjusted $1.22 U.S. per share, beating estimates by one cent, with revenue slightly below forecasts. Hasbro said foreign exchange hurt fourth quarter revenue by more than $75 million U.S. Separately, Hasbro raised its quarterly dividend to 46 cents U.S. per share from 43 cents.
Masco earned an adjusted 24 cents U.S. per share for its latest quarter, four cents above estimates, with revenue slightly below Street forecasts. The maker of building products said it is benefiting from cost controls and better productivity.
CNA Financial, Lowes's largest subsidiary, reported a 10% fall in profit due to lower net written premiums.
Computer Sciences, Credicorp and NetEase are all due after the bell.
Over the weekend, China reported that exports fell 3.3% in January from a year earlier, while imports slumped by 19.9%, both missing expectations by a wide margin, and resulting in a record monthly trade surplus of $60 billion U.S.
Greece's new leftist Prime Minister Alexis Tsipras said on Sunday in his election pledge that he would end the country's "cruel" austerity program and ruled out an extension of international bailout. Starting Wednesday, Greek banks will not be able to use Greek government bonds as collateral in daily refinancing operations with the European Central Bank.
Shares on the Athens Stock Exchange tumbled about 5% on Monday.
Prices for 10-year U.S. Treasuries climbed a bit, lowering yields to 1.92% from Friday’s 1.94%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.37 per barrel to $53.06 U.S.
Gold prices improved $3.90 an ounce to $1,238.50 U.S.
Related Stories
