Canada's main stock index found some momentum on Monday, following two weeks of gains, as advances in healthcare stocks were stymied by losses in energy shares.
The S&P/TSX Composite Index tacked on 41.23 points to greet noon at 14,426.62
The Canadian dollar screamed higher 0.41 cents at 75.21 U.S.
Peyto Exploration & Development Corp fell 3.8%, leading declines among energy shares, after brokerage RBC downgraded its stocks expecting natural gas pricing to fall.
The largest percentage gainers on the TSX were Centerra Gold Inc, which surged 4.3% and Alamos Gold Inc, which rose 3.3%
Cascades Inc fell 4.8% the most on the TSX. The second biggest decliner was Freehold Royalties Ltd, down 3.6%
On the economic front, Western University’s IVEY School of Business said its Purchasing Managers Index registered 59.7 for December, compared to 57.2 the month before and 60.4 in December 2017.
ON BAYSTREET
The TSX Venture Exchange gained 4.33 points to 591.77
Eight of the 12 TSX subgroups were higher at noon, health-care leading the pack, up 2.4%, while information technology gained 1.7%, and consumer discretionary stocks bettered themselves 1.6%.
The four laggards were weighed by gold, down 1.6%, materials, off 0.7%, and financials, lower by 0.4%.
ON WALLSTREET
Stocks rose in volatile trade on Monday as investors pored through the latest U.S.-China trade developments and equities added to a massive rally in the prior trading session.
The Dow Jones Industrial Average jumped 163.64 points to 23,596.80
The S&P 500 strengthened 25.9 points, or 1%, to 2,557.84, led by the consumer discretionary sector.
Energy stocks also powered the S&P higher, as Cabot Oil and Hess rose ore than 3.5% each. Energy stocks got a boost from a 3.3% surge in U.S. oil prices.
The NASDAQ Composite gained 92.62 points to 6,833.40, as Amazon shares rose more than 3%.
Amazon shares rose after Pivotal Research Group initiated the company with a buy rating. The research firm said Amazon’s opportunities this year are “mostly unconstrained,” adding the stock could surge as much as 20%
The Chinese foreign ministry said Monday that China and the U.S. have expressed an eagerness to work together. The ministry also added China stands ready to resolve trade disputes with the U.S. on an equal footing.
Prices for the benchmark for the 10-year U.S. Treasury faded, raising yields to 2.68% from Friday's 2.66%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.18 to $49.14 U.S. a barrel.
Gold prices gained $3.60 at $1,289.40 U.S. an ounce.
