Stocks in Canada’s biggest centre vaulted yet again Monday, aiming for heights they hadn’t seen since the year began, mostly on the strength of metals and consumer staple issues.
The S&P/TSX Composite climbed 102.04 points – off its highs of the day -- to finish Monday trading at 14,361.88
The Canadian dollar slumped half a cent to 76.19 cents U.S.
The strongest sub-sector was in base metals, where First Quantum Minerals leaped 49 cents, or 5.2%, to $9.78, while Teck Resources gathered 50 cents, or 2.8%, to $18.16.
Among consumer staples, convenience store chain Alimentation Couche-Tard bolted ahead $2.24, or 4.1%, to $56.43, while Metro Inc. gained 50 cents, or 1.1%, to $46.44.
Among consumer discretionaries, Ritchie Bros. Auctioneers picked up 21 cents to $45.80.
Health-care lost some juice, as Valeant Pharmaceuticals took off three cents to $30.28.
Energy stocks were in the red, as Baytex Energy retreated 12 cents, or 1.7%, to $7.16, while Paramount Resources ditched nine cents, or 0.8%, to $11.84.
On the economic beat, Canadian Mortgage and Housing Corporation reported that the seasonally-adjusted annualized rate of housing starts in this country rose to 218,333 in June, up from a revised 186,709 in May. Economists had forecast 190,000 starts in June.
ON BAYSTREET
The TSX Venture Exchange gained 7.07 points to 759.19
All but two of the 13 subgroups gained ground, led by metals and mining, hiking 3.3%, while consumer staples and consumer discretionaries both trekked up 1.8% each.
The two laggards proved to be health-care, off 0.3%, and energy, 0.2% less energetic.
ON WALLSTREET
U.S. stocks closed higher on Monday as investors cheered an election in Japan and tried to extend a jobs-report rally.
The Dow Jones Industrials gained 80.19 points to 18,253.91, with Goldman Sachs, Boeing and 3M contributing the most gains.
The S&P 500 gained 7.26 points to 2,137.16, breaking a previous record set May 20, 2015. In afternoon trade, information technology led the S&P, with utilities and telecommunications lagging.
The NASDAQ Composite Index marched ahead 31.88 points to 4,988.64, briefing breaking above 5,000 for the first time since last New Year’s Eve.
Investors and traders will also digest a slew of economic data sets this week, including the latest jobs opening and labour turnover survey (JOLTS) and wholesale trade data, both due Tuesday, and import-export prices, due Wednesday.
Also on deck this week is the start of earnings season, with Alcoa set to report quarterly results Monday after the close. Later this week, a slew of financial firms will post results, including JPMorgan Chase, and Citigroup.
The U.S. Federal Reserve will also release its latest edition of the Beige Book, a summary of current economic conditions released eight times a year.
Prices for the 10-year Treasury dipped, lifting yields to 1.43% from Friday’s 1.36%. Treasury prices and yields move in opposite directions.
Oil prices dropped 94 cents a barrel to $44.47 U.S.
Gold prices slid $3.30 to $1,355.10 U.S. an ounce.
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