Canada's main stock index got back some of the mojo it let slip away on Friday, as tech and health-care stocks overcame weakness in resource issues.
The TSX Composite Index restocked 61.27 points to close Monday at 17,379.76
The Canadian dollar dropped 0.31 cents to 75.21 cents U.S.
Among techs, Kinaxis gathered four dollars, or 3.6%, to $113.97, while Lightspeed POS climbed $1.49, or 3.5%, to $44.49.
Health-care issues also fared well, as Aurora Cannabis picked up 16 cents, or 6.4%, to $2.66, while HEXO jumped four cents, or 2.4%, to $1.70.
Real-estate issues also had a good day, as Colliers International popped $2.67, or 2.5%, to $109.97, while units of Artis REIT improved 32 cents, or 2.7%, to $12.11.
Energy proved a drag on the markets, as Crescent Point Energy subsided 15 cents, or 3.4%, to $4.21, while Imperial Oil skidded 71 cents, or 2.3%, to $30.67.
In materials, Hudbay Minerals sank 15 cents, or 3.7%, to $3.91, while Methanex fell $1.26, or 2.9%, to $41.65.
Gold stocks suffered, as Alacer Gold dropped 34 cents, or 5.5%, to $5.88, while OceanaGold stumbled 15 cents, or 5.4%, to $2.62.
On the economic slate, the IHS Markit Canada Manufacturing Purchasing Managers’ Index registered 50.6 in January, up slightly from December's four-month low of 50.4.
ON BAYSTREET
The TSX Venture Exchange sank 0.6 points, to 574.58.
All but three of the 12 TSX subgroups were positive, as information technology gained 1.6%, health-care added 1.2%, and real-estate picked up 1%.
The three laggards were energy, fading 0.6%, while materials and gold dipped 0.5% each.
ON WALLSTREET
Stocks rose solidly on Monday, recovering some of the losses from the previous session’s steep selloff, but investors remained wary about the bounce as coronavirus fears lingered.
The Dow Jones Industrials gained back 143.78 points to 28,399.81, recovering from Friday’s selloff, the worst since August.
The S&P 500 gained 23.4 points at 3,248.92
The NASDAQ hiked 122.47 points, or 1.3%, to 9,273.40.
Nike led the Dow higher with a 3.1% rise after analysts at UBS and JPMorgan recommended buying the stock on coronavirus-related weakness. JPMorgan called this recent pullback a "multi-year buying opportunity."
However, stocks gave back some of Monday’s gains after Carnival confirmed one of its guests tested positive for coronavirus six days after leaving one of its ships. Carnival shares erased earlier gains and closed more than 1% lower on the news.
The major averages reached their session highs after the Institute for Supply Management said its manufacturing gauge showed activity in the sector expanded. Economists polled by Dow Jones expected a contraction in manufacturing activity for January.
The death toll in China from the coronavirus reached 361 on Sunday, surpassing that of the SARS virus which lasted from 2002 to 2003, while a first death outside of China was reported in the Philippines.
Prices for the 10-Year U.S. Treasury were slightly lower, raising yields to 1.53% closer to Friday’s 1.51%. Treasury prices and yields move in opposite directions.
Oil prices ditched $1.58 to $49.98 U.S. a barrel.
Gold prices faltered $6.80 to $1,581.10 U.S. an ounce.
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