Stocks in Toronto picked up Monday pretty much where they left off Friday, gaining new ground after clearing the 13,000 mark for the first time in two years last week.
The S&P/TSX composite index strengthened 38.38 points to begin a new week at 13,174.47
The Canadian dollar faded 0.06 cents to 97.11 cents U.S.
Telecoms advanced, with Telus ahead 92 cents to $35.42.
A Canadian National Rail train carrying crude oil and liquefied petroleum gas derailed and caught fire in Western Canada on Saturday, in an accident that brought back memories of a deadly crash in Quebec this summer. CN shares dropped 49 cents in price to $109.35.
Fairfax Holdings has become the third-biggest shareholder of Greek industrial group Mytilineos, acquiring a 5% stake worth about 30 million euros. Fairfax shares scaled back $1.31 each to $442.99.
In the central Romanian town of Campeni, around 2,000 people protested against Gabriel Resources’ plans to use cyanide to mine 314 tonnes of gold and 1,500 tonnes of silver in the small town of Rosia Montana. Gabriel shares gained three cents to 96 cents.
Uranium One Inc., which Russian nuclear corporation Rosatom just took private, will delist from the Toronto Stock Exchange today and the Johannesburg Stock Exchange tomorrow.
On the economic beat, Statistics Canada said the wholesale trade rose 0.5% to $49.8 billion in August, the fourth increase in five months, mostly due to gains in the motor vehicle industry. Market call was for a rise of 0.3%.
ON BAYSTREET
The TSX Venture Exchange regained 3.48 points to 954.45
All but two of the 14 Toronto subgroups moved upward at the start of Monday trading, led by gold, up 1.5%, materials, taking on 1%, and the metals and mining group, ahead 0.9%.
The two failing groups were information technology, shrinking 0.2%, and consumer discretionary stocks, dipping 0.1%.
ON WALLSTREET
The S&P 500 stopped short of reaching deeper into record territory Monday as investors shift their focus from Washington to corporate earnings and the economy.
The Dow Jones Industrials settled back 4.63 points to open at 15,395.
The S&P 500 index dropped 0.14 points to 1,744.36. The NASDAQ picked up 15.18 points to 3,914.28,
Shares of McDonald's fell nearly 2% after the fast-food chain reported weak sales growth in the third quarter. Halliburton shares fell after the oil field services company's earnings met expectations. Netflix is among the companies slated to release quarterly results after the market closes.
Bank stocks were in focus following news that JPMorgan Chase and the Department of Justice have tentatively agreed to a $13-billion U.S. civil settlement to resolve several investigations into the bank's mortgage securities business.
At 10 a.m. ET, the National Association of Realtors was to release its monthly report on existing home sales.
Prices for the 10-year U.S. Treasury sagged, lifting yields to 2.60% from Friday’s 2.59%. Treasury prices and yields move in opposite directions.
Oil prices dipped 65 cents to $100.16 U.S. a barrel.
Gold prices picked up $2.80 to $1,317.40 U.S. an ounce.
