Stocks in Toronto rose on Monday as higher oil prices supported energy stocks.
The S&P/TSX Composite gained 36.9 points to begin the day and the week at 14,784.35.
The Canadian dollar gained 0.28 cents to 77.46 cents U.S.
BMO raised the target price on Altus Group to $27.00 from $24.00, with an outperform rating. Altus shares powered up $1.01, or 4.1%, to $25.85.
TD Securities cut the rating on Crescent Point Energy to buy from action list buy. Crescent Point shares galloped 23 cents, or 1.1%, to $21.42.
BMO cut the target price on Sun Life Financial to $45.00 from $46.00. Sun Life shares gained three cents to $41.69.
On the economic beat, the Canadian Real Estate Association reported this morning that national home sales declined – 1.3% -- for a third consecutive month in July 2016. Actual (not seasonally-adjusted) activity came in 2.9% below July 2015.
ON BAYSTREET
The TSX Venture Exchange gained 3.88 points to 836.65
Eight of the 13 subgroups were positive to start the day, with energy better by 0.8%, health-care improving 0.7%, and industrials up 0.6%
The four laggards were weighed most by consumer staples, off 0.2%, information technology stocks and gold, down 0.1%.
Metals and mining stocks were unchanged.
ON WALLSTREET
U.S. stocks traded higher on Monday, with the three major indexes hitting new records, as investors kept an eye on oil prices and on the Federal Reserve.
The Dow Jones Industrials jumped 85.41 points to 18,615.81, with Boeing and Home Depot contributing the most to gains.
The S&P 500 picked up 8.04 points to 2,192.09, with materials leading nine sectors higher. In all, 29 S&P components hit new 52-week highs, including Sysco — which reported quarterly results before the bell — Ross Stores and Procter & Gamble.
The NASDAQ Composite gained 29.94 points to 5,262.83
On the data front, the Empire State Manufacturing survey index fell five points to -4.2.
Other data released Monday included the NAHB housing index, which showed homebuilder sentiment rose two points. The SPDR S&P Homebuilders ETF rose 1%, led higher by Toll Brothers, which was up about 2.7%.
On the earnings front, several firms, including Home Depot, Lowe's and Cisco Systems, are scheduled to report results this week.
Last week, retail giant Macy's posted better-than-expected results.
Prices for the 10-year Treasury weakened, raising yields to 1.55% from Friday’s 1.54%. Treasury prices and yields move in opposite directions.
Oil prices gained 71 cents a barrel to $45.20 U.S.
Gold prices hiked $1.90 to $1,344 U.S. an ounce.
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