Markets in Toronto advanced on Monday, tracking global market sentiment, after all-night negotiations between euro-zone leaders and Greece resulted in a deal that would keep the debt-burdened country afloat
Toronto’s S&P/TSX composite index gained 57.82 points to open Monday at 14,468.89
The Canadian dollar dumped 0.65 cents at 78.34 cents U.S.
Rogers Communications has put The Shopping Channel up for sale and received interest from foreign buyers for the television asset that may fetch over $300 million. Rogers shares acquired 25 cents a piece to $43.89.
Sterne Agee raised the rating on Bombardier Inc. to neutral from underperform, says although portfolio challenges remain high, risk/reward remain more balanced at the current level. Bombardier shares were static at $1.98.
On the earnings front, Sirius XM reports today, expecting Q3 earnings of seven cents per share. Sirius shares lost a penny to $5.22.
Neptune Technologies & Bioressources Inc., expects a Q1 loss of five cents per share. Neptune shares added five cents to $1.72.
ON BAYSTREET
The TSX Venture Exchange added 3.64 points to 644.62
All but four of the 14 TSX subgroups began the session higher, led by health-care, up 1.2%, while consumer staples and discretionaries were each up 0.9%
The four laggards were weighed most by gold, down 1.5%, while energy dipped 0.5%, and materials lost 0.4%.
ON WALLSTREET
U.S. stocks traded higher on Monday, following gains overseas, on news of a bailout agreement between Greece and its creditors.
The Dow Jones industrial average climbed 171.24 points, or nearly 1%, to 17,931.65, with DuPont and Goldman Sachs leading most blue chips higher.
The S&P 500 picked up 17.01 points to 2,093.63,
The NASDAQ index jumped 46.53 points to 5,044.23, as Apple gained more than 1%.
Second-quarter earnings season gets underway with a slew of major reports on Tuesday that include JPMorgan Chase and Wells Fargo.
On the economic front, retail sales are due Tuesday morning. Federal Reserve chief Janet Yellen delivers her semi-annual testimony on the economy to Congress on Wednesday and Thursday.
European Council President Donald Tusk said early on Monday that euro-zone leaders reached a unanimous agreement with Greece after all-night talks in Brussels to move forward with a bailout loan for the cash-strapped nation, provided Athens implement tough reforms.
Prices for 10-year U.S. Treasuries dipped, raising yields to 2.44% from Friday’s 2.40%. Treasury prices and yields move in opposite directions.
Oil prices erased 78 cents a barrel to $51.96 U.S.
Gold prices subtracted $7.10 at $1,150.80 U.S. an ounce.
