Markets in Toronto enjoyed a slightly higher open on Monday, despite investors still being jittery about the uncertainty surrounding the U.S. Federal Reserve's bond-buying program.
The S&P/TSX composite index progressed 20.69 points to begin Monday at 12,562.82
The Canadian dollar docked 0.02 cents to 97.08 cents U.S.
BlackBerry said it had set up a committee to explore strategic alternatives that could include joint ventures, partnerships or a sale of the company. BlackBerry shares shot up 64 cents, or 6.4%, to $10.69.
Roth Capital cut the target price on Dorel Industries Inc. to $38 from $42 after the company's management lowered its forecast for the year. Dorel shares soared $2.65, or 8%, to $35.65.
Raymond James raised the price target on Easyhome Ltd. to $15 from $12, saying there is a good balance of growth and income both in store and in the stock. Easyhome shares dropped a penny to $12.49
CIBC cut the target price on GMP Capital Inc. to $6.50 from $7.50 to reflect the weak outlook for Canadian resource financings. GMP shares lost three cents to $6.24.
SocGen cut the price target on Semafo Inc. to $2 from $2.10, saying, despite the company reporting a strong second quarter, H1 results came 29% lower year-over-year. Semafo shares gained five cents to $1.94.
ON BAYSTREET
The TSX Venture Exchange gained 1.08 points to 921.17
Of the 14 Toronto subgroups, eight were stronger, led by gold, up 4.4%, materials, 3% better, and metals and mining, climbing 1.8%
The half-dozen laggards were weighed mostly by health-care, 1.2% paler, telecoms, down 0.7%, and consumer staples, 0.3% to the bad.
ON WALLSTREET
U.S. stocks opened modestly lower Monday.
The Dow Jones Industrial Average slid 22.10 points to 15,425.50
The S&P 500 index was negative 1.91 points to 1,689.51. The NASDAQ restored 3.90 points to 3,664.01.
BlackBerry said it will begin exploring 'strategic alternatives,' including selling the company. Once a dominant player in the smartphone market, BlackBerry has struggled recently against competitors like Apple and Saumsung.
Dole Food Company approved a plan by CEO David Murdock to take the company private for $13.50 U.S. a share.
Apple shares rose after the International Trade Commission on Friday banned Samsung from importing or selling several devices that it said infringe on Apple patents.
The U.S. Treasury Department will release its monthly budgetary statement at 2 p.m. ET.
Prices for the 10-year U.S. Treasury gained a bit, dropping yields to 2.56% from Friday’s 2.58%. Treasury prices and yields move in opposite directions.
Oil prices sank 64 cents to $105.33 U.S. a barrel.
Gold prices gained $27.20 to $1,339.40 U.S. an ounce.
