Stocks in Toronto began the last full week before Thanksgiving solidly in the green, with purchasing data on the horizon.
The S&P/TSX composite index gained 75.62 points to begin the day and week at 14,865.40
The Canadian dollar regained 0.33 cents at 89.20 cents U.S.
NBF cuts price target on Baytex Energy to $50.00 from $53.00, with an outperform rating. Baytex shares surged 23 cents to $41.05.
NBF raises rating on Canadian Pacific Railway to outperform from sector perform. CP shares gathered $2.43, or 1%, to $244.10.
Defense lawyers for a Canadian executive sentenced to 15 years prison in Cuba on bribery and other charges released a raft of documents on Sunday seeking to bolster their case that Cy Tokmakjian was denied a fair trial.
Western University’s Ivey PMI data for September came in at 58.6, compared to 50.9 in August, and 51.9 in September 2013.
The PMI shows responses to one question: "Were your purchases last month in dollars higher, the same, or lower than the previous month?" A figure above 50 shows an increase while below 50 shows a decrease.
ON BAYSTREET
The TSX Venture Exchange slipped 1.86 points to 880.96.
All but two of the 14 Toronto subgroups were higher in the first hour, with metals and mining climbing 1%, global base metals up 0.9%, and the financials sector gaining 0.7%.
The two laggards were health-care, down 0.4%, and utilities, clicking 0.3% lower.
ON WALLSTREET
The U.S. stock market kicked off the week on a positive note as investors remained optimistic after a strong jobs report on Friday, while
M&A deals and waning protests in Hong Kong added to the positive momentum.
Upcoming news from the Federal Reserve’s labour-market conditions index, due later this morning, is widely expected to confirm the positive outlook for the U.S. economy.
The Dow Jones Industrials progressed 72.47 points to 17,083.96.
The S&P 500 eked up 8.11 points to 1,976.01. The NASDAQ index took on 13 points to 4,488.62.
Hewlett-Packard shares climbed 4.3% as the company said it plans to split into two, separating its personal-computer and printer businesses from its corporate hardware and services operations.
Medical technology company Becton, Dickinson has reached a deal to buy CareFusion for $12.2 billion U.S. in cash and stock. CareFusion shares rallied 23%.
Tesla Motors is set to unveil its Model 3 mass-market car and new versions of its Model S sedan at an event on Thursday, according to an analyst from Global Equities Research. Tesla shares were up 1.9%.
H&R Block shares fell 4.9% after the tax services company said regulatory approval for the sale of H&R Block Bank won’t be completed in the current year.
Sunesis Pharmaceuticals sank 70% after the company said a late-stage trial of a cancer treatment failed to meet its primary goals
The Fed’s labour-market conditions index is the first regularly scheduled release of the indicator. The LCMI condenses several pieces of labor data into one reading, in order to give a better view of the market than offered solely by the unemployment rate, which dropped to 5.9% in September.
A healthy number for the new index would be seven, according to Bank of America.
Prices for 10-year U.S. Treasuries eked up, lowering yields to 2.44% from Friday’s 2.45%. Treasury prices and yields move in opposite directions.
Oil prices slid four cents to $89.70 U.S. a barrel.
Gold prices gained five dollars to $1,197.90 U.S. an ounce.
