Equities in Canada’s biggest market were broadly higher on Monday with gold-mining shares, bolstered by rising bullion prices, leading the charge.
The S&P/TSX composite index acquired 105.64 points to greet noon hour Monday at 15,132.26. Markets were shuttered for Good Friday.
The Canadian dollar improved 0.16 cents to 80.32 cents U.S.
Two of the most influential movers on the index were gold miners: Barrick Gold Corp, which rose 3.1% to $15.39, and Goldcorp, which advanced 2.6% to $24.28.
Another heavyweight mover was Royal Bank of Canada. Its shares rose 0.5% to $77.19, one of many financial outfits that prospered in Monday morning trading
Among energy plays, Canadian Natural Resources was up 1.1% at $39.75 and Enbridge rose 0.8% percent to $61.06. Crescent Point Energy climbed 2.5% to $30.58.
Only industrials took a hit Monday morning, as WestJet Airlines tumbled 4.4% to $28.49.
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 5.24 points to 688.26
Among the 14 Toronto subgroups, only industrials were negative, and 0.6% at that.
Everything else was in the green, with gold shining 3.1% brighter, materials moving 2% higher, and metals and mining prospering 1.8%.
ON WALLSTREET
U.S. stocks reversed to trade higher as investors shrugged off Friday's disappointing jobs report amid the weaker dollar.
The Dow Jones Industrials hiked 122.45 points to break for lunch at 17,885.69, with Microsoft leading gains and Johnson and Johnson the greatest laggard.
The S&P 500 index gained 13.55 points to 2,080.51, with utilities leading advancers and financials the only sector struggling to stay in the green.
The NASDAQ leaped 24.48 points to 4,911.42
The major averages turned positive in early trade as the morning's service sector and manufacturing data continued to indicate moderate growth. Traders took the lack of significant growth as a sign the Federal Reserve would raise rates later rather than sooner.
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 Federal Trade Commission was leaning towards a proposed compromise that would allow it to go through.
The U.S. dollar traded about 0.2% lower while the euro crept above $1.10 U.S.
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 1.90% from Thursday’s 1.91%. Treasury prices and yields move in opposite directions.
Oil prices grew $2.38 to $51.52 U.S.
Gold prices jumped $20.50 to $1,221.40 U.S.
