Canada's main stock index rose broadly on Monday on upbeat investor sentiment, with across-the-board gains led by the consumer staples group and Alimentation Couche-Tard stock.
The S&P/TSX composite index moved higher 39.36 points to greet noon at 15,379.13
The Canadian dollar regained 0.32 cents to 82.58 cents U.S.
Convenience store operator Couche-Tard was by far the most influential gainer on the index. Its shares climbed 4.3% to $47.46, recouping a chunk of last week's losses, after the company issued a statement to clarify that the Circle K Corp referenced in a Chapter 11 bankruptcy filing in the United States was not its subsidiary.
Barrick Gold Corp was up 1.1% at $16.08, helped in large part by higher gold prices, which rebounded from six-week lows hit last week.
Other influential movers on the index included Manulife Financial, which rose 1.1% to $22.34, and Bank of Nova Scotia, which advanced 0.4% to $67.11
Energy stocks were down, with Canadian Natural Resources the biggest drag on the TSX. Shares fell 0.5% to $39.73.
ON BAYSTREET
The TSX Venture Exchange tacked on 1.14 points to 700.57
All but three of the 14 Toronto subgroups were up by noon, with consumer staples advancing 1.7%, utilities clicking higher 0.7%, and financials improving 0.4%.
The only laggards were in global base metals and their cousins in the metals and mining sector, each down 0.4%, while real-estate was off 0.1%
ON WALLSTREET
U.S. stocks traded higher on Monday, following positive momentum from Europe, as investors looked ahead to a week of Federal Reserve speeches and economic data that could shed light on the timing of an interest rate hike.
The Dow Jones Industrials 74.91 points to 18,098.97, with Merck and United Technologies leading advancers and McDonald's the greatest laggard.
The S&P 500 index picked up 8.25 points to 2,116.54, with utilities leading all 10 sectors higher.
The NASDAQ rose 21.07 points to 5,026.46
Later in the day, several central bank policymakers will speak, including a keynote address from Chicago Fed's Charles Evans at the annual meeting of the Columbus Economic Development Board. San Francisco Fed President, John Williams, will speak on job creation at a separate event.
Analysts also noted market optimism on potential for mergers and acquisitions. Most recently, seed company Monsanto made an offer to buy Switzerland's Syngenta, Bloomberg reported last week, citing sources.
Earnings season continues, with EOG Resources and Tenet Healthcare among firms expected to report after the close.
Reporting before the bell, Comcast, the NBCUniversal parent earned 81 cents U.S. per share for the first quarter, seven cents above estimates, with revenue also above forecasts. Comcast also added $2.5 billion U.S. to its existing stock buyback program.
Sysco, the number-one U.S. food distributor, reported a 2% fall in quarterly profit, hurt by a rise in meat and poultry prices, a strong dollar and higher expenses.
McDonald's is also in focus, with the fast-food giant announcing plans to accelerate re-franchising.
In other corporate news, Cisco Systems said Chief Executive John Chambers would step down to become executive chairman and 17-year company veteran Chuck Robbins will become CEO, effective July 26.
Ahead of Friday's important jobs report for the month of April, factory orders for March showed a gain of 2.1%, the biggest increase in eight months and above expectations of a 1.9% increase.
Prices for 10-year U.S. Treasuries faltered, raising yields to 2.14% from Friday’s 2.11%. Treasury prices and yields move in opposite directions.
Oil prices slid 22 cents to $58.93 U.S.
Gold prices recovered $14.00 to $1,188.50 U.S.
