Canada's main stock index rose on Monday, aided by a more than 1% jump in energy and healthcare stocks, with sentiment also buoyed by upbeat October domestic manufacturing activity data.
The S&P/TSX Composite index climbed 145.1 points to reach noon at 21.182.17
The Canadian dollar gained 0.19 cents to 80.93 cents U.S.
Health care stocks provided further support on the back of jumps in pot producers Canopy Growth and Aurora Cannabis. Canopy picked up 80 cents, or 5.1%, to $16.45., while Aurora hiked 46 cents, or 5.6%, to $8.67.
Home Capital Group was the largest percentage gainer in the index with a 6% jump, after brokerage BMO raised its rating and price target. Home shares bounced $2.18 or 5.4%, to $42.34.
Cargojet was among the biggest decliners as the air cargo service provider reported a surprise loss of 73 Canadian cents per share in the third quarter, against analysts' average estimate of $1.31 earnings per share. The company dumped $7.53, or 3.8%, to $189.52.
On the economic front, Markit Canada said its Purchasing Managers manufacturing index registered at 57.7 in October, up from 57.0 in September.
ON BAYSTREET
The TSX Venture Exchange gained 14.8 points to 965.23.
All but two of the 12 TSX subgroups made it to noon in the green, with health-care zooming 3.4%, energy gushing 2.5%, and consumer discretionaries up 1.8%.
The two laggards were real-estate, down 1%, and industrials, off 0.3%.
ON WALLSTREET
All three American indexes showed at least marginal gains Monday, after markets emerged from the historically tough seasonal period successfully.
The Dow Jones Industrials took on 56.93 points to 35,876.49, helped by gains in Boeing and Dow Inc., after hitting a fresh record at the open.
The S&P 500 gave back 4.62 points to 4,610.
The NASDAQ Composite jumped 68.25 points to 15.566.63.
The Dow Jones Industrial Average rose 5.8% in October. The S&P 500 rallied 6.9% last month and the technology-focused Nasdaq Composite added 7.3% in October.
For the year, the S&P 500 is up more than 22%.
Tesla, which became a $1-trillion company last week, continued its gains for the year with shares up more than 2%. Investors have been piling into bets on Tesla options as of late.
Stocks linked to an economic recovery, such as Ford and Occidental Petroleum, were also higher. Ford gained 1% and Occidental Petroleum popped 2.5%. Airlines and retailers were mostly in the green, while mega-cap tech stocks underperformed.
October’s Institute for Supply Management’s manufacturing index fell to 60.8 from September’s 61.1. Economists were expecting the index to fall to 60.3. Any number above 50 is considered expansion.
Investors will also be monitoring the Federal Reserve’s two-day meeting Tuesday and Wednesday. The central bank is widely expected to announce that it will begin to unwind its $120 billion in monthly bond purchases and end the program entirely by the middle of next year.
Prices for 10-year Treasurys were lower, raising yields to 1.59% from Friday’s 1.56%. Treasury prices and yields move in opposite directions.
Oil prices gained 75 cents to $84.32 U.S. a barrel.
Gold prices jumped $7.50 to $1,791.400 U.S. an ounce.
