TSX Aims to Boost Streak to Seven Sessions

Canada's main stock index rose for a seventh consecutive session on Monday, lifted by energy, financial and technology stocks, while traders looked ahead to a week packed with key economic data including consumer price inflation.

The TSX progressed 53.16 points to break for lunch at 20,413.26.

The Canadian dollar nosed up 0.05 cents at 74.67 cents U.S.

In company news, Mullen Group fell $1.05, or 6.7%, to $14.55 after the logistics provider said its revenue will reach $500 million although profit margins softened due to a slowdown in global trade and consumer spending.

Colliers International Group gained $3.49, or 2.6%, to $136.35 after Scotiabank upgraded the stock to "outperform".

Among health-care issues, Bausch Health Companies picked up 28 cents, or 2.8%, to $10.34, while Canopy Growth grabbed eight cents, or 2.3%, to $3.57.

In tech stocks, HUT 8 Mining jumped 36 cents or 17%, to $2.48, while Absolute Software took on $1.12, or 7.5%, to $16.02.

On the economic calendar, manufacturing sales in Canada were unchanged in November with higher sales in the motor vehicle and fabricated metal industries offset by lower sales in the chemical and petroleum and coal product industries, while the Canadian Real Estate Association reported national home sales rose 1.3% month-over-month in December. CREA also reported actual (not seasonally adjusted) monthly activity came in 39.1% below December 2021.

ON BAYSTREET

Read:

• Addressing the USA’s 200 to 1 Security Protection Gap is a Serious Concern for Tech Companies

• Latest Set of FDA Fast Track Designations Causing Optimism in Biotech Sector

• Biotech Sector to Unveil New Data and Developments at 2022 SABCS in San Antonio

• Biotech Sector Witnessing Growing Revenue Potential in Ongoing Battle Against Pancreatic Cancer

• New Biotech Sector Drug Combinations Target a Drop in Pancreatic Cancer Mortality Rates

The TSX Venture Exchange gained 4.25 points to 619.36.

All but two of the 12 subgroups stayed afloat by noon hour, with health-care up 1.5%, information technology clicking higher 0.8%, and consumer discretionary stocks better by 0.7%.

The two laggards were materials, sagging 0.4%, and gold, off 0.2%.

ON WALLSTREET

Markets are shuttered in the States Monday for Martin Luther King Day.