Markets in North America were in recovery mode to begin the last full trading week of 2014, after digging out of the rubble of the week before, as oil prices weighed on equities.
The S&P/TSX composite index climbed 107.58 points to open the week at 13,838.63
The Canadian dollar dipped 0.03 cents to 86.23 cents U.S.
First Quantum Minerals has shut its 38,000-tonnes-per-year Ravensthorpe nickel plant in Australia following an acid spill, which is under investigation. First Quantum shares inched up six cents to $16.48
CIBC cut the price target on BRP Inc to $30 from $33. BRP shares faded 27 cents to $23.09.
CIBC also cut price target on Gibson Energy to $35 from $37. Gibson shares hiked 34 cents to $24.17.
Moreover, CIBC cut the rating on Savanna Energy Services to sector performer from outperform. Savanna docked 10 cents to $3.15.
The Canadian Real Estate Association reported national home sales activity was unchanged on a month-over-month basis in November 2014. Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels.
ON BAYSTREET
The TSX Venture Exchange eked 0.83 points to 654.61
All but one of the 14 Toronto subgroups were higher, with consumer staples trucking 1.6%, information technology clicking 1.3%, and consumer discretionaries up 1.1%.
Gold was the lone loser, scaling back 0.5%.
ON WALLSTREET
U.S. stocks climbed on Monday, with equities bouncing back after Wall Street's worst weekly drop in more than two years, amid a round of corporate deals.
The Dow Jones Industrials gained 42.48 points to open Monday at 17,323.31, with Exxon Mobil pacing blue-chip gains that extended to 25 of 30 components.
The S&P 500 recovered 8.74 points to 2,011.07, with energy leading gains among its 10 major industry groups, all of which advanced.
The NASDAQ index moved higher 11.20 points to 4,664.80,
PetSmart gained after agreeing to be purchased for about $8.25 billion U.S. by a group led by BC Partners. Emerson Electric rose as it sold a power-transmission unit to Regal-Beloit for $1.4 billion U.S.
Equities offered muted reaction to a gauge of home-builder sentiment falling a point in December after a large jump last month.
A Federal Reserve report had industrial production rebounding in November, after a Fed measure of manufacturing in the New York region dropped in December.
Prices for 10-year U.S. Treasuries slouched, boosting yields to 2.13% from Friday’s 2.10%. Treasury prices and yields move in opposite directions.
Oil prices dipped 18 cents per barrel to $57.62 U.S.
Gold prices slipped $12.30 an ounce at $1,210.20 U.S.
