TSX Positive Monday

Bausch, Aritizia in Focus


Stock markets in Toronto resumed to some form of normality Monday, after holidays on both sides of the border, and aimed skyward, mostly on the strengths of health-care and consumer issues.

The S&P/TSX Composite Index moved higher 72.92 points, off its highs of the day, to close Monday at 15,669.67.

The Canadian dollar gained 0.08 cents at 73.86 cents U.S.

Among said health concerns, Bausch towered $1.29, or 5.3%, to $25.70, while Cronos Group gathered 41 cents, or 5%, to $8.70.

In the consumer discretionary sector, Aritzia sprinted $1.12, or 5.9%, to $20.23, while Magna International shot higher $1.45, or 2.4%, to $61.61.

In the resource section, First Quantum Minerals strengthened 54 cents, or 5.1%, to $11.20, while Ero Copper hiked 85 cents, or 4.7%, to $18.97.

Communications, on the other hand, weighed the index down, as Cineplex tumbled 46 cents, or 5.4%, to $8.04, while Corus faded 11 cents, or 3.9%, to $2.71.

Among energy plays, Enerplus sank 47 cents, or 12%, to $3.45, while Crescent Point Energy waned 13 cents, or 5.7%, to $2.16.


ON BAYSTREET

The TSX Venture Exchange gained 11.97 points, or 1.9%, to 644.99.

All but two of the 12 TSX subgroups were positive by the closing bell, with health-care up 2.9%, while consumer discretionary soared 1.7% and materials were better by 1.4%.

The two laggards were in communications, fading 0.5%. and energy tailed off 0.1%.

ON WALLSTREET

Stocks closed sharply higher on Monday, led by strong gains in the tech sector, as Wall Street built on the momentum from last week’s solid performance and shook off a continued rise in coronavirus cases.

The Dow Jones Industrials screamed higher 459.67 points, or 1.8%, to close Monday at 26,212.14.

The S&P 500 gained 49.71 points, or 1.6%, to 3,179.72.

The NASDAQ Composite popped 226.02 points, or 2.2%, to 10,433.65, yet another new record high.

The biggest technology companies led the gains with Apple, Amazon, Microsoft and Google-parent Alphabet all climbing at least 2%. Amazon shares also broke above $3,000 for the first time. Netflix shares reach an all-time high as well.

The NASDAQ-100 — which is made up of the composite’s 100-largest non-financial stocks — jumped 2.5% on Monday, bringing its 2020 gains to more than 21%.

Deal making also boosted sentiment. Warren Buffett made his first major deal amid the market turmoil this year, with Berkshire Hathaway buying the natural gas transmission and storage assets from Dominion Energy for about $10 billion including debt.

Dominion Energy fell 11%, while Berkshire shares gained 2.4%. Uber shares gained 6% after it said it was buying food-delivery app Postmates in an all-stock deal worth $2.65 billion.

Data from the Institute for Supply Management showed a surprise expansion in the U.S. services sector. The firm’s non-manufacturing index rose to 57.1 in June, topping a Dow Jones estimate of 50.1.

The World Health Organization said Saturday that more than 200,000 coronavirus cases were confirmed over a 24-hour span, a record. At a regional level, the biggest spike was seen in the Americas, where nearly 130,000 new cases were confirmed.

Prices for the 10-Year Treasury were slightly off, raising yields to 0.68% from Thursday’s 0.67%. Treasury prices and yields move in opposite directions.

Oil prices dipped three cents to $40.62 U.S. a barrel.

Gold prices added $5.10 to $1,795.10 U.S. an ounce.