Stocks in Toronto rose shortly after the open, helped in large part by gold miners bolstered by rising gold prices, but weaker financial stocks tempered gains.
The S&P/TSX composite index was higher 13.34 points to start Monday at 15,039.96. Markets were shuttered for Good Friday.
The Canadian dollar improved 0.10 cents to 80.25 cents U.S.
Barrick Gold said on Friday it has settled 11 claims related to atrocities committed against women over the last two decades at its Porgera gold mine in Papua New Guinea. Barrick shares gathered 37 cents, or 2.5%, to $15.30.
CIBC cut the price target on Dream Unlimited to $14.00 from $14.50, based on the company's announcement that it would re-organize the management structure of Dream Office REIT. Dream units perked 29 cents, or 1.1%, to $26.54.
National Bank Financial raised the target price on Richelieu Hardware to $70.00 from $65.00 after the company reported solid first-quarter results. Richielieu shares were static at $63.57.
On the economic front, Western University’s Ivey PMI stood at 47.9 in March, compared to 49.7 in February, and 55.2 in March 2014.
The index, surveying purchasing managers, asks if they increased, decreased or kept their purchases the same over the month. A figure above 50 shows an increase while below 50 shows a decrease.
ON BAYSTREET
The TSX Venture Exchange gained 4.74 points to 687.76
Nine of the 14 Toronto subgroups were higher. Gold stocks hiked 2.5%, metals and mining gained 1.5%, and materials popped 1.3%.
The five laggards were weighed mostly by industrials, which sagged 0.5%, financials, off 0.3%, and health-care, sliding 0.2%.
ON WALLSTREET
U.S. stocks pared losses as investors shrugged off Friday's disappointing jobs report amid the weaker dollar.
The Dow Jones Industrials took on 35.14 points to open the day at 17,798.38, with Johnson and Johnson the greatest laggard and Exxon Mobil leading blue-chip gainers.
The S&P 500 index inched up 1.73 points to 2,068.69, with financials leading seven sectors lower and utilities the greatest advancer.
The NASDAQ moved higher 7.94 points to 4,894.88.
Tesla delivered 10,030 vehicles during the first quarter, its highest quarterly total ever and a 55% increase over the first quarter of 2014.
Lorillard and Reynolds American are on watch today, on a shift in sentiment about whether a proposed merger between the tobacco giants will be allowed to proceed. The stocks had fallen in recent weeks on sentiment that it would be rejected, but reports emerged late last week that the FTC was leaning towards a proposed compromise that would allow it to go through.
The ISM non-manufacturing Index was 56.5 in March, its lowest level in three months. The Markit Purchasing Managers Index rose to 59.2 in March, the highest level since August.
Futures plunged on Friday after the monthly employment report showed the addition of 126,000 jobs, far below the estimated 245,000.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 1.86% from Thursday’s 1.91%. Treasury prices and yields move in opposite directions.
Oil prices gained back $1.12 to $50.26 U.S.
Gold prices sifted off $6.90 to $1,201.30 U.S.
