Stocks in Toronto rose to a new one-year high on Monday, led by energy stocks as oil prices rallied.
The S&P/TSX Composite gained 49.82 points to open the week at 14,698.59
The Canadian dollar recovered 0.15 cents to 75.94 cents U.S.
Bank of Nova Scotia has applied to Taiwan's financial regulator to exit the local market as part of a strategy shift in the Asia Pacific region.
Scotiabank shares gained 26 cents to $66.61.
CIBC raises target price on AutoCanada Inc. to $24 from $22. AutoCanada shares moved up 49 cents, or 2.2%, to $22.41
National Bank Financial raised the rating on Bombardier to outperform from sector perform. Bombardier shares gained a penny to $1.99 each.
NBF raised the rating on Slate Office REIT to outperform from sector perform. Slate Office units took on three cents to $8.44.
On the economic scene, Statistics Canada reported that municipalities issued building permits worth $6.4 billion in June, down 5.5% from the previous month. Lower construction intentions for multi-family dwellings and institutional buildings were mostly responsible for the decline
ON BAYSTREET
The TSX Venture Exchange gained 1.75 points to 808.44
Eight of the 13 subgroups were higher, with metals and mining up 2.3%, energy better by 1.7%, and health-care haler 0.6%.
The five laggards were weighed most by consumer staples, down 0.3%, information technology, clicking 0.2% lower, and gold, off 0.1%.
ON WALLSTREET
U.S. stocks traded mostly lower on Monday as investors kept an eye on oil prices, awaited retail sales data due later this week and further digested Friday's strong jobs report.
The Dow Jones Industrials faltered 0.51 points to 18,543.62, with Goldman Sachs contributing the most gains.
The S&P 500 dipped 0.53 points to 2,182.34, as health-care lagged
The NASDAQ Composite dropped 5.02 points to 5,216.10
In other corporate news, Allergan reported adjusted quarterly earnings of $3.35 U.S. per share and revenue of about $3.7 billion U.S., with profits beating estimates but revenues falling short. The firm's Alzheimer's drug, Namenda IR, lost patent exclusivity.
Auction house Sotheby's posted earnings per share that easily beat Wall Street estimates, with revenues also beating forecasts.
Meanwhile, Delta Air Lines experienced a nationwide outage, grounding all its flights.
There are no major economic data due Monday, but investors were looking ahead to July retail sales, due Friday.
Prices for the 10-year Treasury dropped slightly, raising yields to 1.60% from Friday’s 1.59%. Treasury prices and yields move in opposite directions.
Oil prices picked up 98 cents a barrel to $42.78 U.S.
Gold prices doffed $2.40 to $1,342.00 U.S. an ounce.
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