CORRECTS ERROR PERTAINING TO TSX VENTURE
Equities in Toronto rose to a fresh nine-month high on Monday, led by energy and base metal stocks as oil rallied.
The S&P/TSX Composite Index gained 64.14 points to begin the day and the week at 14,290.62
The Canadian dollar eked forward 0.14 cents to 77.43 cents U.S.
Bombardier is stepping up efforts to woo the airline industry with its more efficient new CSeries jet, hoping to win new orders without falling under the spell of prolonged discounting on price.
Bombardier shares were unchanged at $2.00 Monday morning.
Real estate-focused private equity firm KingSett Capital is set to acquire 50% of Scotia Plaza, Canada's second tallest office building, from Dream Office REIT and H&R REIT, according to two sources familiar with the situation.
Dream units were down 75 cents, or 4%, to $18.10, while H&R units gained nine cents to $21.94.
Raymond James raised the target price on Husky Energy to $18.00 from $16.00.
Husky shares acquired 41 cents, or 2.6%, to $16.00.
Raymond James also raised the target price on Imperial Oil to $51.00 from $48.00.
Imperial shares grew 49 cents, or 1.2%, to $41.95.
Raymond James cut the target price on Keyera Corp. to $46.00 from $47.00. Keyera shares went down nine cents to $38.65.
ON BAYSTREET
The TSX Venture Exchange gained 4.97 points in the day's first hour to 698.96
All but two of the 13 TSX subgroups were positive to begin the session, with metals and mining shooting up 2.6%, energy, better by 1.3%, and utilities improving 0.7%.
The only two laggards were gold, down 1.2%, and health-care, off 0.2%.
ON WALLSTREET
U.S. stocks traded higher Monday, amid gains in oil prices, as traders awaited comments from Fed Chair Janet Yellen that could shed light on the timing of the next rate hike.
The Dow Jones Industrials barreled ahead 96.19 points, to 17,903.25, with Goldman Sachs contributing the most to gains as most member stocks advanced.
The S&P 500 recovered 5.81 points at 2,104.94, with energy rising more than 1% to lead advancers.
The NASDAQ picked up 15.62 points to 4,958.13.
Yellen is scheduled to speak on the economic outlook and monetary policy at the World Affairs Council of Philadelphia over noon hour ET.
Markets were pricing in a 4% chance of a June rate hike as of early Monday morning, according to Jefferies. Odds for a July hike were 32% and 52% for September
Prices for the 10-year Treasury sagged, raising yields to 1.73% from Friday’s 1.7%. Treasury prices and yields move in opposite directions.
Oil prices tacked on 98 cents a barrel to $49.60 U.S.
Gold prices docked 25 cents to $1,243.95 U.S. an ounce.
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