The Toronto stock market was slightly higher Monday as traders played it cautious ahead of a busy week for economic data and earnings news, including the U.S. Federal Reserve's latest word on interest rates.
The S&P/TSX composite index picked up 18.48 to close at 14,797.83
The Canadian dollar dipped 0.16 cents to 80.21 cents U.S.
On the TSX, lift came from the industrials sector, with Canadian National Railway up 96 cents, or 1.1%, to $85.44 ahead of earnings coming out Tuesday.
The energy sector advanced, as Imperial Oil took on 68 cents to $48.05
Telcos led decliners, with Rogers Communications down $1.98 or 4.2% to $45.00 after Canaccord Genuity cut its rating on the stock to hold from buy. It added it expects Rogers to report a "sluggish" quarter when it posts earnings Thursday.
The gold sector led gainers, the sector having surged 36% this month while gold prices have steadily advanced. Barrick Gold moved higher by 39 cents, 2.5%, to $15.82.
Greek leftist leader Alexis Tsipras was sworn in on Monday as the prime minister of a new anti-bailout government and promised that the austerity imposed by international creditors for the past five years is over.
ON BAYSTREET
The TSX Venture Exchange shed 3.79 points to 674.39
All but three of the 14 Toronto subgroups were higher on the day, as gold shone 1.8% brighter, global base metals moved 1.4% higher, and industrials strengthened 1%.
The three laggards were telecoms, dipping 1.9%, while financials and consumer staples each faded 0.3%.
ON WALLSTREET
U.S. stocks finished modestly ahead on Monday after the first weekly gain for equities in 2015, as investors mulled results from Greek elections and winter weather on the East Coast.
The Dow Jones Industrials eked higher by 6.10 points to 17,678.70, after falling more than 100 points during the day.
The S&P 500 recovered 5.27 points to 2,057.09, with energy the best performing and technology the worst of its 10 major industry groups.
The NASDAQ index was positive 13.88 points to 4,771.70.
DR Horton rose after the home builder reported quarterly profit that topped estimates.
Mattel declined after the toy maker ousted its chairman and chief executive and warned sales fell 6% in the holiday quarter.
In Greece, the anti-austerity Syriza party won 149 out of a 300 possible seats in Parliament.
In New York, officials urged residents to remain indoors with blizzard conditions forecast. The New York Stock Exchange said it planned to run on a normal schedule.
Prices for 10-year U.S. Treasuries were slightly lower, lifting yields to 1.83% from Friday’s 1.82%. Treasury prices and yields move in opposite directions.
Oil prices were lower 44 cents per barrel to $45.15 U.S.
Gold prices faltered $12.40 an ounce to $1,290.20 U.S.
