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Toronto Retains Strength by Noon

Baystreet.ca
Equity markets in Toronto recovered on Monday from Friday's five-month low, with sectors across the ...

Equity markets in Toronto recovered on Monday from Friday's five-month low, with sectors across the board their cue from a rebound in global stocks following a brutal week.

The S&P/TSX Composite Index 157.66 points, or 1.1%, to greet noon Monday at 15,192.19

The Canadian dollar nicked lower 0.19 cents to 79.25 cents U.S.

Copper miner Ivanhoe Mines and Torex Gold Resources were the biggest gainers on the index, jumping 7.6% and 7.4%, respectively.

Gildan Activewear, which was flat, was the worst performer.

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

ON BAYSTREET

The TSX Venture Exchange climbed 8.43 points, or 1%, to 821.82

All but one of the 12 TSX subgroups were higher to reach noon, as consumer discretionary issues soared 2.6%, gold gained 2.5%, and information technology clicked 2.3% higher

Only utilities failed, sliding 0.4%.

ON WALLSTREET

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

The Dow Jones industrial average screamed higher 364.62 points, or 1.5%, to 24,555.52. Cisco Systems and Apple were the best-performing stocks in the Dow, advancing 2.8% and 2.4%, respectively.

The S&P 500 gained 33.65 points, or 1.3%, to 2,653.20, with energy and tech as the best-performing sectors. Utilities and real estate were the worst-performing sectors as interest rates climbed higher.

The NASDAQ popped 104.49 points, or 1.5%, to 6,978.98

Among companies reporting earnings Monday were Molina Healthcare Inc., whose stock gave back 24 cents to $78.20.

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 fell slightly, raising yields to 2.86% from Friday’s 2.85%. Treasury prices and yields move in opposite directions.

Oil prices recovered 47 cents a barrel to $59.67 U.S.

Gold prices shone brighter $10.30 to $1,326.00 U.S. an ounce.