Stock markets in Toronto got off to a strong start for the day and the week, as investors took in the good vibes from a landmark trade deal with China.
The S&P/TSX composite index gained 66.83 points to open Monday at 14,757.66
The Canadian dollar inched up 0.03 cents to 88.33 cents U.S.
The central banks of China and Canada have agreed to a currency swap worth 200 billion yuan or $30 billion, according to a Canadian government statement issued at a meeting of Asia-Pacific nations on Saturday.
Fuel cell maker Hydrogenics Corp's third-quarter loss more than doubled, hurt by increased expenses and a weaker Canadian dollar. Hydrogenics shares went south $1.03, of 5%, to open at $19.52.
China Express Airlines has placed a firm order for 16 CRJ900 NextGen regional jets from Bombardier Inc, whose stock took on four cents to $3.95.
Canaccord Genuity raised the rating on AuRico Gold to buy from hold. AuRico shares dipped three cents to $3.72.
Economically speaking, Canada Mortgage and Housing Corp reported the seasonally adjusted annualized rate of housing starts declined to 183,604 units last month from a revised 197,355 units in September.
ON BAYSTREET
The TSX Venture Exchange gained 5.84 points to 776.10.
All but three of the 14 Toronto subgroups were higher in the first hour of trading, as information technology stocks vaulted 1.2%, energy issues were 1.1% more energetic, and consumer staples were better by 0.9%.
The three laggards were gold, down 3.1%, materials, sliding 1.4%, and global base metals, down 0.2%.
ON WALLSTREET
U.S. stocks wavered on Monday, after benchmark indexes climbed for a third week to records, as investors tracked corporate results as the earnings season starts to wind down.
The Dow Jones Industrials dipped 4.08 points to 17,569.85
The S&P 500 eked up 0.56 points to 2,032.48. The NASDAQ index recovered 7.97 points to 4,640.50.
McDonald's gained in early New York trading after the fast-food chain and Dow component reported same-store sales slid in October. Toll Brothers climbed after the luxury homebuilder reported a 29% increase in quarterly revenue.
Alibaba Group rose ahead of Tuesday's "Singles Day" in China, which has become the biggest day of online sales globally. Dendreon plunged after the maker of a prostate-cancer treatment filed for bankruptcy.
Abercrombie & Fitch fell after Oppenheimer downgraded the retailer's shares to market perform from outperform.
Of the 442 S&P 500 companies to report earnings through Friday, 74.2% topped Wall Street estimates, with earnings expected to increase 9.8%from the year-earlier period, according to data compiled by Thomson Reuters.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.32% from Friday’s 2.31%. Treasury prices and yields move in opposite directions.
Oil prices gained 66 cents to $79.31 U.S. a barrel.
Gold prices moved lower $4.20 to $1,165.60 U.S. an ounce.
