Stocks on Baystreet held onto gains all day with a nice close up over 69 points. Gold stayed strong again as futures for December delivery closed at $1,280.80 an ounce, up $3.30, or about 0.3% breaking the all-time record that was set three days ago.
The S&P TSX Composite Index closed up 69.95 points at 12234.51.
In data news -- wholesale trade unexpectedly fell 0.1% in July from June on weaker sales of motor vehicles, Statistics Canada data showed on Monday. Economists had expected wholesale trade to rise between 0.1 and 0.3% in July, following a 0.3% decline the previous month.
On the gold front -- Gold stocks stayed hot all day.
Barrick Gold Corp, the world's No. 1 producer, gained 1.1% to $48.02 and Goldcorp Inc added 1.5% to $44.66. Kinross gained 2% to $19.31.
As far as energy issues -- Cenovus climbed 1.9% to $28.41. Canadian Natural Resources Ltd. increased 0.9% to $34.58.
Base Metal Miners dig in -- Base-metal miners advanced 1.4 percent today. First Quantum Minerals gained 2.4% to $69.06, as the price of copper rose to a 5-month high.
Banks slipping slightly -- Financials are the laggard of the subgroups at the moment.
Royal Bank of Canada (T.RY) was down 7 cents at $54.33, and The Bank of Nova Scotia (T.BNS) fell .07 percent to $53.54.
The Canadian dollar has continued higher against the U.S. aided by increasing risk sentiment that was reflected in stock markets. The Canadian dollar traded up .00372 of a cent to .973285 cents US.
ON BAYSTREET
Thirteen of the TSX subgroups closed green today. Metals and Mining stocks gained 2.17%, real estate gained 1.79%, and base metal added 1.43%.
On the downside -- Only Health Care stocks closed in the red; down .69%.
The TSX Venture Exchange gained 24.43 points, at 1686.39, while the Nasdaq Canada index lost ground today; closing down 4.18 points to 592.10.
ON WALLSTREET
Stocks remained strong all day as the Dow posted triple digit gains at the close of the day. Movement was aided by the National Association of Home Builders said its housing market index remained unchanged in September.
The news that the U.S. recession ended in June of 2009 was determined by the National Bureau of Economic Research, but consumers still remain skeptical.
Buying accelerated as the Standard & Poor's 500 index broke through the resistance of its recent trading range.
Homebuilder, Lennar(LEN), posted a third-quarter profit of 16 cents a share, exceeding the gains of 5 cents a share that analysts had been expecting. Shares were trading up 5.4% to $14.75.
The Dow Jones Industrial Average closed up 145.77 points, or 1.37% at 10753.62. The S&P 500 posted gains of 17.12 points, or 1.52%, to 1142.71. The NASDAQ closed green as well; up 40.22 points, or 1.74%, to 2355.83.
Oil pricing is recovering this morning and having an effect on major producers. Shares of Chevron are up 1.19% to $79.39.
BP announced Sunday that its Macondo well in the Gulf of Mexico has been cemented shut and is ''effectively dead.'' Shares of BP rose about 0.5% in the early going. Shares of BP are up $.36 to $38.39.
Among stocks in focus -- The profit margin for U.S. airlines reached its highest point on record for the second quarter, driven by higher passenger revenue and increasing ancillary fees. Shares are up $.32 to $22.27.
IBM announced Monday that it plans to acquire data storage company Netezza (NZ) for $27 per share, or about $1.7 billion. At the close today, IBM shares rose $1.24 to $131.43. Netezza shares rose $3.21, or 13.1 percent, to $27.81.
Credit card issuer Discover Financial Services reported a third-quarter profit of 47 cents a share, surpassing analysts' earnings target of 37 cents a share. DFS shares are up 3% at $16.03.
The USD is down .015% against the euro and trading down .016% versus the yen.
Oil futures for October delivery are up $.78 this morning to $74.44 a barrel.
Gold prices climbed $3.30 to $1,280 an ounce.
Bonds: The yield on the 10-year bond increased 0.04 percentage point, to 2.74 percent.
Related Stories
