Equities in Canada’s largest market rose on Monday as energy companies gained from a rise in oil prices, while precious metal miners were lifted by higher gold prices.
The S&P/TSX Composite Index saw its gains balloon 92.9 points to greet noon at 16,106.39
The Canadian dollar lost 0.19 cents to 76.75 cents.
Aurora Cannabis jumped $1.18, or 13.8%, to $9.72, the most on the index, after a media report that the world's largest beverage maker Coca Cola Co was in talks with the company to make marijuana-infused drinks.
Centerra Gold, which rose 47 cents, or 9.1%, to $5.66, was the second biggest gainer on the main index.
RNC Minerals soared nine cents, or 30.4%, to 37 cents, after the miner recovered a 43-kg specimen stone containing an estimated 1,100 ounces of gold and a second seven-kilogram specimen containing 190 ounces from Beta Hunt Mine in Australia.
Guyana Goldfields fell 15 cents, or $2.86, the most on the main index, though Kirkland Lake Gold recovered 16 cents to $24.22.
In things macroeconomic, Statistics Canada reported that foreign investment in Canadian securities reached $12.7 billion in July, mainly from acquisitions of federal government bonds. At the same time, Canadian investment in foreign securities totaled $13.1 billion, led by record purchases of foreign bonds.
Also, the Canadian Real Estate Association said national home sales via Canadian MLS Systems edged up by 0.9% in August 2018, marking a fourth consecutive monthly gain. However, CREA added, sales activity is still running below levels in most other months going back to early 2014.
ON BAYSTREET
The TSX Venture Exchange tacked on 3.47 points to move into lunch hour 718.63
All but one of the 12 subgroups were higher, as health-care climbed 3.6%, while materials and golds each strengthened 2.1%
The one laggard was in information technology, slipping 0.1%.
ON WALLSTREET
Stocks traded lower on Monday as steep losses in some of the biggest tech shares pressured the broader market. Increasing tensions between the U.S. and China also put potential trade talks in doubt, dampening investor sentiment.
The Dow Jones Industrial Average slid 7.02 points to 26,147.65. The Dow came into the session riding a four-day winning streak.
The S&P 500 faded 8.13 points to 2,896.85, having posted five straight days of gains, with tech and consumer discretionary underperforming.
The NASDAQ shed 72.86 points to 7,937.07, as shares of Amazon, Apple and Micron fell.
Apple shares fell 0.6% amid fears it could be caught in the middle of a U.S.-China trade war. China is one of Apple's biggest markets. The tech giant said earlier this month that tariffs on Chinese goods could hurt its business.
Twitter dropped nearly 4% after MoffettNathanson reiterated its sell rating on the stock, noting cost growth should accelerate moving forward.
Micron's stock dropped 1% after analysts at BMO Capital Markets and Deutsche Bank slashed their price targets on the stock, citing weaker pricing for memory chips.
Amazon, meanwhile, declined more than 3% after an analyst at Citi suggested the company split into two to avoid antitrust scrutiny from the Trump administration. The stock was also on track to post its worst day since April.
Prices for the benchmark for the 10-year U.S. Treasury gained slightly, lowering yields to 2.99% from Friday’s 3%. Treasury prices and yields move in opposite directions.
Oil prices ditched nine cents to $68.90 U.S. a barrel.
Gold prices increased seven dollars to $1,208.10
