Equities in Toronto recovered Monday from a rough final session on Friday, with gold and health stocks leading the way upward.
The TSX galloped 307.96 points, or 1%, to close Monday at 30,416.44.
The Canadian dollar dipped 0.08 cents to 71.26 cents U.S.
Among individual movers, Dye & Durham tumbled $1.09, or 16.5%, to $5.52, after Plantro, its second-largest investor, withdrew its acquisition proposal for the legal software firm.
Health-care stocks ruled the day, as Bausch Health Companies moved up 38 cents, or 4.5%, to $8.83, while Curaleaf acquired 16 cents, or 4%, to $4.18.
Gold stocks also stood out, with Wesdome Gold ahead 97 cents, or 4.3%, to $23.71, while Lundin Gold accelerated $7.72, or 7.3%, to $114.78.
In materials, Discovery Silver triumphed 36 cents, or 6.7%, to $5.70. while Skeena Resources hiked $1.77, or 7%, to $27.04.
Telecoms, however, faced the other way, with Rogers trailing 86 cents, or 1.7%, to $51.34, while TELUS dropped 31 cents, or 1.4%, to $21.17.
In consumer staples, Loblaw Companies retreated 87 cents, or 1.5%, to $58.31, while rival Metro lost 92 cents, or 1%, to $95.70.
In the economic docket, Statistics Canada said its Industrial Product Price Index increased 0.8% month over month in September and gained 5.5% year over year.
Meanwhile, the Raw Materials Price Index increased 1.7% month over month and rose 8.4% year over year.
ON BAYSTREET
The TSX Venture Exchange gained 17.78 points, or 1.8%, Monday to 983.36
All but two of the 12 TSX subgroups were in the green, led by health-care, shooting up 3.2%, gold, shinier 2.6%, and materials, up 2.3%.
The two laggards were telecoms, down 1%, while consumer staples stepped back 0.8%.
ON WALLSTREET
Stocks moved higher on Monday, thanks to a rise in Apple shares, as investors looked ahead to a possible end to the ongoing U.S. government shutdown as well as a slew of big-name earnings reports and inflation data expected in the coming days.
The Dow Jones Industrials hiked 515.92 points, or 1.1%, to conclude Monday at 46,706.58.
The S&P 500 advanced 71.12 points, or 1.1%, to 6,735.13.
The tech-heavy NASDAQ jumped 310.57 points, or 1.4%, to 22,990.54.
The shutdown “is likely to end sometime this week,” National Economic Council director Kevin Hassett the media, which gave a boost to stocks. Hassett added that he believes “moderate” Democrats would come together this week to strike a deal.
Hassett also said that the White House was prepared to take stronger measures to force an end to the stoppage, which has now entered Day 20, if there’s no deal this week.
Apple led the market higher, rising 4% after receiving an upgrade to buy from hold at Loop Capital. The firm pointed to improving demand trends for the company’s iPhones, saying that “we are NOW at the front end of AAPL’s long-anticipated adoption cycle that suggests ongoing iPhone shipment expansion through CY2027.”
Following the first week of the reporting season, 76% of the 58 S&P 500 companies that have posted results so far have exceeded earnings expectations, far surpassing the first-week average of 68% and slightly higher than last quarter’s 73% figure, according to Bank of America.
This week, several large companies are expected to report quarterly results. Netflix, Coca-Cola, Tesla and Intel are among the names on deck. Investors hope that earnings will continue to come in strong, possibly overshadowing any challenges in the macroeconomic landscape.
Prices for the 10-year Treasury nicked up, lowering yields to 3.98% from Friday’s 4%. Treasury prices and yields move in opposite directions.
Oil prices faded six cents to $57.48 U.S. a barrel.
Gold prices revived $181.40 to $4,394.70 U.S. an ounce.
