Equities in Toronto rose on Monday, led by energy companies, as investors dug themselves out of the rubble of a disastrous few days last week
The S&P/TSX Composite gained 154.26 points, or 1%, to end Monday at 16,304.05
The Canadian dollar fell 0.36 cents to 75 cents U.S.
Among energy concerns, Precision Drilling proved the undisputed champion, flying 27 cents, or 18.6%, to $1.72, while Peyto Exploration hiking 23 cents, or 7.2%, to $3.41.
Consumer discretionary issues did well, too, as Hudson’s Bay Company triumphed 72 cents, or 7.7%, to $10.10, while Sleep Country Canada Holdings leaped 70 cents, or 3.4%, to $21.37.
In the industrial sector, Russel Metals moved forward 79 cents, or 4.2%, to $19.78, while Badger Daylighting gained $1.52, or 3.7%, to $42.88.
Gold slid, however, as OceanaGold took a pounding of 25 cents, or 7.7%, to $3.01, while Centerra Gold disposed of 30 cents, or 2.5%, to $11.59.
Health-care also scaled back, as Canopy Growth suffered $1.66, or 4.5%, to $35.62.
ON BAYSTREET
The TSX Venture Exchange finished negative 0.58 points to 569.85
All but two of 12 Toronto subgroups were in positive country Monday, with energy gaining 2.4%, while consumer discretionary was up 1.6%, and industrials moved ahead 1.2%.
The two laggards were in gold, up 0.8%, and health-care, off 0.3%
ON WALLSTREET
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recession. Equities also got a boost after the U.S. agreed to extend a temporary reprieve to Chinese telecom giant Huawei.
The Dow Jones Industrials came off its highs of the day, but remained stronger by 249.38 points, or 1%, to 26,135.79,
The S&P 500 gained 34.97 points, or 1.2%, to 2,923.65, as the energy and tech sectors outperformed.
The NASDAQ jumped 106.82 points, or 1.4%, to 8,002.81
The Wall Street Journal and Reuters reported the Commerce Department was preparing to extend a license for 90 days, which will allow Huawei to continue business with the U.S. companies to service existing customers. The current agreement is set to end on Monday.
Shares of chip makers rose on the reports. On Semiconductor added 2.7% and AMD gained 1%. Micron Technology rose 3.4%.
Apple also advanced 1.9%, after CEO Tim Cook spoke with President Trump on Sunday, who said Cook made a “good case” that it would be hard for Apple to pay tariffs, when Samsung does not face the same level of duties given its manufacturing in South Korea.
Prices for the benchmark 10-year U.S. Treasury tumbled, lifting yields to 1.61% from Friday’s 1.56%. Treasury prices and yields move in opposite directions
Oil prices acquired $1.37 to $56.24 U.S. a barrel.
Gold prices faltered $17.70 to $1,505.90 U.S. an ounce.
