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Rally Begins Monday Trading

Baystreet.ca
Markets in Canada’s biggest centre opened higher on Monday with gains across the board, taking their ...

Markets in Canada’s biggest centre opened higher on Monday with gains across the board, taking their cue from a positive open in markets around the world.

The S&P/TSX Composite Index 136.33 points, to begin the week at 15,171.16

The Canadian dollar nicked lower 0.04 cents to 79.40 cents U.S.

Restaurant Brands International's profit topped analysts' forecasts in the fourth quarter as it lured more diners to its Burger King restaurants through new snacks and affordable burgers.

The parent company of Tim Hortons leaped $3.75, or 5.3%, to $74.84.

RBC raised the target price on Constellation Software to $900.00 from $850.00. Constellation hiked $7.94, or 1%, to $775.76.

RBC raised the target price on Interfor to $28.00 from $26.00. Interfor shares increased in price 20 cents to $23.15.

Ivanhoe Mines and Torex Gold Resources were the biggest gainers on the index, Ivanhoe jumping 27 cents, or 9.3%, to $3.16, and Torex taking on 65 cents, or 5.6%, to $12.26.

Gildan Activewear, which was flat at $39.00, was the worst performer.

Yamana Gold and marijuana producer Canopy Growth were the most actively traded stocks on the index.

Yamana soared seven cents, or 1.8%, to $3.96, while Canopy shares gained 13 cents to $28.30.

ON BAYSTREET

The TSX Venture Exchange climbed 9.02 points, or 1.1%, to 822.41

All but one of the 12 TSX subgroups were higher to start fresh in a new week, as materials and gold each jumped 1.8%, while consumer discretionary stocks proved 1.7% stronger.

Only health-care missed the party, descending 0.2%.

ON WALLSTREET

U.S. stocks rose sharply on Monday as the major indexes rebounded from their worst weekly performances in two years.

The Dow Jones industrial average went higher 118.55 points to close the week at 24,309.45. Cisco Systems and Apple were the best-performing stocks in the Dow, advancing 2.7% and 2%, respectively.

The S&P 500 gained 3.97 points to 2,623.52, with energy and materials as the best-performing sectors. Utilities and real estate were the only sectors trading lower as interest rates climbed higher.

The NASDAQ gained 6.08 points to 6,880.57

Earnings are expected Monday out of Loews Corporation and Dun & Bradstreet

The Dow and S&P 500 both pulled back 5.2% last week, notching their worst weekly declines since January 2016. The NASDAQ composite, meanwhile, dropped 5.1%, marking its biggest one-week pullback since February 2016. The indexes also dipped into correction territory.

Prices for the benchmark 10-year Treasury note poked up slightly, lowering yields to 2.84% from Friday’s 2.85%. Treasury prices and yields move in opposite directions.

Oil prices recovered 76 cents a barrel to $59.96 U.S.

Gold prices shone brighter $9.60 to $1,325.30 U.S. an ounce.