Equities in Canada’s largest market bloomed Monday, as attention was focused solely on them, what with American markets enjoying a holiday.
The S&P/TSX Composite zoomed 194.33 points, or 1.4%, to conclude Monday at 14,258.87
Gains for the index follow a 1.2% advance last week and a 4.2% gain for the second quarter.
The Canadian dollar improved 0.36 cents to 77.81 cents U.S.
Metals powered a lot of this climb, as First Quantum Minerals solidified 80 cents in price, or 8.8%, to $9.87, while Teck Resources took on 74 cents, or 4.4% to $17.75
Gold had something of a good day, too, with Kinross Gold strengthening 60 cents, or 9.5%, to $6.94, and Yamana Gold climbing 43 cents, or 6.4%, to $7.15.
Among energy plays, Baytex moved higher 17 cents, or 2.3%, to $7.67, while Suncor Energy gathered 86 cents, or 2.4%, to $36.70.
Consumer staples stubbed their toes a bit, as Metro Inc. faded six cents to $44.95.
The Bank of Canada said Monday that Canadian business sentiment remained subdued in the second quarter, as the drag of cheaper oil prices and modest domestic demand canceled out the boost from foreign demand.
Adjusted for seasonal influences, the RBC Canadian Manufacturing Purchasing Managers’ Index registered 51.8 in June, down from 52.1 in May. Although the index posted above the 50.0 no-change value for the fourth month running, the latest reading signaled only a marginal upturn in overall business conditions and the weakest pace of improvement since March.
Oil prices faded 23 cents to $48.76 U.S.
Gold prices gained $14.50 to $1,353.50 U.S.
ON BAYSTREET
The TSX Venture Exchange ballooned 17.38 points, or 2.4%, to 747.82
All but one of the 13 subgroups were higher on the day, as metals and mining jumped 6.8%, materials popped 4.4%, and gold was 3% higher.
Only consumer staples missed the party, skidding 0.1%.
ON WALLSTREET
American markets were closed for the 4th of July holiday, to reopen Tuesday.
