Canada's main stock index climbed to a more than 13-week high on Monday, as the energy sector got a boost from higher oil prices and talks to update the North American Free Trade Agreement entered a crucial week.
The S&P/TSX Composite Index vaulted 79.23 points to end Monday at 15,808.63
The Canadian dollar faded 0.24 cents to 77.58 cents U.S.
Encana Corp gained three cents to $16.95, while Canadian Natural Resources handed back gains and lost 38 cents to $45.30.
Techs led the field, as BlackBerry jumped 25 cents, or 1.8%, to $14.18, while Constellation Software galloped $19.95, or 2.1%, to $960.15.
Health-care issues were next, as Aurora Cannabis gained eight cents, or 1%, to $8.11, while Canopy Growth picked up 28 cents to $30.25.
Industrials also gained, with Bombardier up 14 cents, or 3.4%, to $4.26. Canadian National Railway gained 75 cents to $101.37.
Energy stocks ran out of steam as the day wore on. Encana Corp gained three cents to $16.95, while Canadian Natural Resources handed back gains and lost 38 cents to $45.30.
Ministers from Canada, the United States and Mexico meet in Washington on Monday to discuss the North American Free Trade Agreement deal, and will seek to resolve an impasse in key areas.
ON BAYSTREET
The TSX Venture Exchange gained 2.32 points to 774.56
Eight of the 12 TSX subgroups were in positive country, as information technology triumphed gained 1.3%, while health-care and industrials each progressed 1%.
The four laggards were consumer staples, down 0.2%, while telecoms and utilities eased 0.1% each.
ON WALLSTREET
Stocks closed higher on Monday as technology shares posted a three-day winning streak. However, the major averages closed well off the highs of the day after President Donald Trump tweeted he will be announcing his decision on the Iran deal on Tuesday.
The Dow Jones Industrial Average rose 94.81 points – off its highs of the day -- to 24,357.32
The S&P 500 added 9.21 points to 2,672.63
The NASDAQ jumped 55.6 points to 7,265.21
Trump — who has railed against the U.S.-Iran nuclear deal signed in 2015 — sent his tweet about the Iran decision this afternoon. The deal lifts sanctions on Iran in exchange for the Middle Eastern nation curbing its nuclear program.
In corporate news, Nestle agreed to pay $7.15 billion to Starbucks to for the rights to sell the coffee chain's products globally. Starbucks shares briefly rose before slipping 0.4%.
Meanwhile, Blackstone reached a deal with Gramercy Property Trust to buy it for $7.6 billion in cash. Gramercy's stock shot up more than 15%.
Prices for the benchmark for the 10-year U.S. Treasury gained ground, lowering yields to Friday’s 2.95%. Treasury prices and yields move in opposite directions.
Oil prices picked up 27 cents a barrel to $69.99 U.S.
Gold prices docked 20 cents to $1,314.50 U.S. an ounce.
Related Stories
