Stock markets in Toronto maintained their gains by midday on Monday, as resource stocks continued to flex their muscles in light of apparently disintegrating world events.
The S&P/TSX Composite Index stayed in the green 94/7 points to reach noon at 16,091.76.
The Canadian dollar recaptured 0.18 cents at 74.70 cents U.S.
The largest percentage gainers on the TSX were Endeavour Mining, which jumped $2.65, or 7.8%, to $36.63, and First Majestic Silver, which rose $1.08, or 6.1%, to $18.90.
Laurentian Bank fell 67 cents, or 2.5%, to $26.66, and the second-biggest decliner was CompX International, up 21 cents, or 1.2%, to $18.42.
ON BAYSTREET
The TSX Venture Exchange gained 16.10 points, or 2.3%, to 707.49.
Seven of the 12 TSX subgroups were higher by noon, with gold soaring 4.7%, materials up 3.5%, and health-care haler by 1.6%.
The five laggards were weighed most by real-estate, doffing 0.4%, while financials and utilities each shed 0.2%.
ON WALLSTREET
U.S. stocks rose on Monday with the major tech names outperforming as investors braced for a big week of corporate earnings and lawmakers continued coronavirus stimulus negotiations.
The Dow Jones Industrials came off their highs of the morning, but still led Friday’s close by 73.19 points to each noon EDT at 26,543.08.
The S&P 500 acquired 10.63 points to 3,226.26.
The NASDAQ increased 70.69 points to 10,433.87.
Apple climbed 2%. Other tech-related stocks, including Facebook, Amazon, Netflix and Alphabet, also traded higher. Facebook, Netflix and Alphabet were all up more than 1%. Amazon advanced 2.4%.
This week will be one of the busiest of the corporate earnings season. McDonald’s, Pfizer, Alphabet, Apple and AMD are among the companies slated to release their latest quarterly figures this week.
Through Friday’s close, 128 S&P 500 companies had reported earnings, with 81% beating analyst expectations, according to Refinitiv. However, overall S&P 500 earnings have fallen more than 40% from the year-earlier period as the coronavirus pandemic takes a big bite out of corporate profits.
Prices for the 10-Year Treasury gained back lost ground, lowering yields back to 0.58%. Treasury prices and yields move in opposite directions.
Oil prices dipped 51 cents to $40.78 U.S. a barrel.
Gold prices leaped $36.40 to $1,933.90 U.S. an ounce.
