Canada’s benchmark stock index closed at its highest in more than a year on Monday, as energy stocks jumped with a bounce in oil prices.
The S&P/TSX Composite hiked 106.85 points to close Monday at 14,755.62
The Canadian dollar gained 0.06 cents to 75.96 cents U.S.
Among miners, Lundin Mining proved a star, leaping 17 cents, or 3.1%, to $5.63, while Teck Resources gained 54 cents, or 2.6%, to $21.47.
Among energy plays, Baytex Energy soared 45 cents, or 7.3%, to $6.63, while EnCana Corporation spiked 47 cents, or 4.3%, to $11.47.
On the economic scene, Statistics Canada reported that municipalities issued building permits worth $6.4 billion in June, down 5.5% from the previous month. Lower construction intentions for multi-family dwellings and institutional buildings were mostly responsible for the decline
ON BAYSTREET
The TSX Venture Exchange gained 8.87 points to 815.56
All but two of the 13 subgroups were higher, with metals and mining up 2.3%, energy better by 1.9%, and materials stronger by 1.1%.
The two laggards were utilities, sliding 0.4%, while consumer staples dipped 0.02%
ON WALLSTREET
U.S. equities closed slightly lower on Monday, despite a rise in oil prices, as investors awaited key retail sales data due later this week.
The Dow Jones Industrials faded 21.37 points to 18,522.16, with Merck leading decliners and ExxonMobil the top advancer.
The S&P 500 dipped 1.95 points to 2,180.92, with health-care leading eight sectors lower and energy and materials the only advancers.
Earlier in the session, the S&P set a fresh all-time intraday high of 2,185.54.
The NASDAQ Composite dropped 10.31 points to 5,210.88
A slew of retail firms, including Nordstrom and Macy's, are scheduled to report quarterly results later this week.
In other corporate news, Allergan reported adjusted quarterly earnings of $3.35 U.S. per share and revenue of about $3.7 billion U.S., with profits beating estimates but revenues falling short. The firm's Alzheimer's drug, Namenda IR, lost patent exclusivity.
Auction house Sotheby's posted earnings per share that easily beat Wall Street estimates, with revenues also beating forecasts.
Meanwhile, Delta Air Lines experienced a nationwide outage, grounding all its flights.
There were no major economic data due Monday, but investors were looking ahead to July retail sales, due Friday.
Prices for the 10-year Treasury weakened, raising yields back to Friday’s 1.59%. Treasury prices and yields move in opposite directions.
Oil prices picked up $1.06 a barrel to $42.86 U.S.
Gold prices doffed $3.20 to $1,341.20 U.S. an ounce.
