Canada's main stock index found its feet midday Monday, as investors recovered from fears about a second wave of coronavirus infections after several countries revived economic activities.
The S&P/TSX Composite Index forged ahead 12.38 points by noon Monday to 14,987.94.
The Canadian dollar slid 0.35 cents to 71.27 cents U.S.
Among wealth and asset management companies, IGM Financial jumped 5%, after the company reported quarterly results.
Its gains were followed by Labrador Iron Ore Royalty, which rose 3.4%.
Sports and marine products manufacturer BRP fell 5.2%, the most on the TSX. The second biggest decliner was Artis Real Estate Investment Trust, down 4.1%, after multiple brokerages lowered their price target on stock.
The total fatalities among coronavirus patients in Canada rose 2.2% to 4,728 on Sunday, one of the lowest daily increases since the outbreak started, according to official public health agency data.
ON BAYSTREET
The TSX Venture Exchange fell 0.05 points to 492.04.
Seven of the 12 TSX subgroups had reached positive readings midday, with information technology vaulting 1.4%, consumer staples ahead 1.1%, and industrials strengthening 0.4%.
The five laggards were weighed most by gold, down 2.9%, materials sliding 2.7%, and health-care off 2.1%.
ON WALLSTREET
Stocks recovered most of their earlier losses on Monday as shares of major technology companies advanced. However, investors remained jittery about reopening the economy too soon.
The Dow Jones Industrials came off their lows of the morning, falling 62 points short of breakeven to 24,269.32.
The S&P 500 recovered 2.73 points to 2,932.53.
The tech-heavy index NASDAQ traded higher 63.18 to 9,184.50, recovering most of its earlier losses, as Amazon, Netflix, Alphabet and Apple all rose.
Disney lost 1.2%. MGM fell 3.6%. United Airlines lost 3.6%.
Apple said Friday it will start to reopen U.S. stores this week. The stores, Apple said, will have temperature checks and will limit the number of customers inside the store at once. Apple shares lost 0.7% Monday.
A jump in infections in South Korea and other countries that appeared passed the worst of the coronavirus stoked some jitters here. Stocks that would benefit most from reopening led the losses including airlines, retailers, cruise lines and casinos.
South Korea warned of a new cluster of cases involving night clubs and the number of new coronavirus cases worldwide reached four million. Singapore and Japan also confirmed new cases.
Prices for the 10-Year Treasury were lower, raising yields to 0.72% from Friday’s 0.68%. Treasury prices and yields move in opposite directions.
Oil prices lost 43 cents to $24.31 U.S. a barrel.
Gold prices dipped $18.60 to $1,695.30 U.S. an ounce.
S&P Back into Positive Readings
