Canada’s main stock index opened higher on Monday, tracking gains in global equities, lifted by fresh signs of progress in resolving the prolonged U.S.-China trade war.
The TSX Composite Index gained 41.09 points to 16,418.21
The Canadian dollar crept up 0.03 at 76.14 cents U.S.
December futures gained 0.2% early Monday.
Thomson Reuters was reported to be engaged in succession planning for Chief Executive Jim Smith as "a matter of good governance.”
Thomson shares dipped 11 cents to $87.41.
Barrick Gold said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia, which Barrick bought in a $1.2-billion transaction approved by a British court last month.
Barrick shares docked a penny to $22.57.
National Bank of Canada resumes coverage on Crescent Point Energy with an outperform rating. Crescent Point shares improved five cents, or 1%, to $5.03.
National Bank of Canada raised the rating on Detour Gold to outperform from sector perform. Detour shares gained eight cents to $20.58.
ON BAYSTREET
The TSX Venture Exchange regained 1.28 points to 543.71,
Eight of the 12 Toronto subgroups were positive in the first hour, led by industrials, up 0.5%, while energy and information technology each gained 0.4%.
The four laggards were weighed most by gold, down 0.4%, health-care, sliding 0.2%, and consumer staples, subsiding 0.1%.
ON WALLSTREET
Stocks traded higher on Monday, boosted by optimism around U.S.-China trade talks as well as the corporate earnings season.
The Dow Jones Industrial Average fell 14.47 points to begin a new week at 26,755.73.
The S&P 500 tallied 11.58 points to 2,997.78. The NASDAQ Composite re-strengthened 35.55 points to 8,125.09.
Investors were also focused on the corporate earnings season, with more than 120 S&P 500 companies on deck to report. McDonald’s, Ford Motor, Boeing and Caterpillar are among the companies set to release their results.
The earnings season got off to a strong start as companies such as J.P. Morgan Chase, Bank of America, Netflix and Citigroup posted better-than-expected results. To be sure, companies are beating muted estimates. Analysts expect overall S&P 500 earnings for the third quarter to have fallen by 4.7%.
Cadence Design Systems, Celanese and Zions Bancorp are among some of the companies poised to report their latest quarterly figures after the market close Monday.
Chinese Vice Premier Liu He said over the weekend Beijing would work with the U.S. to address one another’s trade concerns. He also said both sides have made “substantial progress” on trade. China’s chief negotiator in the trade talks also said that stopping the trade war would be good for both countries — as well as the global economy.
Prices for the benchmark 10-year U.S. Treasury dropped, raising yields to 1.78% from Friday’s 1.76%. Treasury prices and yields move in opposite directions.
Oil prices skidded 70 cents to $53.08 U.S. a barrel.
Gold prices rebounded $1.20 to $1,495.30 U.S. an ounce.
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