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TSX Enjoys Moderate Gains
Markets in Toronto finished comfortably higher, as gold and energy stocks built muscle. The S&P/TSX ...

Markets in Toronto finished comfortably higher, as gold and energy stocks built muscle.

The S&P/TSX Composite Index gained 60.6 points to conclude Monday at 16,263.29

The Canadian dollar settled 0.04 cents to 77.03 cents U.S.

Gold stocks led the parade, headed by Barrick Gold, ahead 30 cents, or 1.8%, to $17.17, while Goldcorp gathered 15 cents to $18.48.

Among the top percentage gainers on the TSX was Ivanhoe Mines, which took on 12 cents, or 3.7%, to $3.35, after news of a unit of Chinese conglomerate CITIC Ltd to buy a near 20% stake Ivanhoe for about $723 million.

Energy stocks also surged, primarily Imperial Oil, up 94 cents, or 2.2%, to $43.41, while MEG Energy took flight 55 cents, or 6%, to $9.79.

Bombardier and its partners have been awarded a $4.9-billion contract to build and operate a passenger transit system at the Los Angeles International Airport. Bombardier gained four cents to $4.92.

One of the top decliners on the TSX was Prometic Life Sciences, whose shares fell three cents, or 4.2%, to 69 cents.

Aurora Cannabis was down 38 cents, or 4.1%, to $8.92, as the cannabis firm signed a supply deal with U.K. based cannabis producer and distributor Ascent Industries.

U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend.

Mexican Economy Minister Guajardo said the only way countries re-negotiating the North American Free Trade Agreement will find a solution is through "sufficient flexibility" to narrow differences.


The TSX Venture dropped 6.2 points on the day Monday to 769.02

Eight of the 12 TSX subgroups had surged by the close, with gold brighter 0.9%, energy, up 0.8%, and industrials, better by 0.5%.

The four laggards were weighed most by health-care, down 0.6%, real-estate, off 0.2%, and information technology, sliding 0.1%.


U.S. stocks closed slightly higher Monday as investors shrugged off concerns over a tumultuous G-7 meeting over the weekend at which President Donald Trump lashed out at U.S. allies.

The Dow Jones Industrials nicked higher 5.78 points to end Monday at 25,322.31, with gains in UnitedHealth, Home Depot, and Boeing offsetting losses in McDonald's and 3M.

The S&P 500 picked up 2.97 points to 2,782, as a rise in telecommunications and consumer staples led the 11 sectors higher.

The NASDAQ added 14.41 points to 7,659.92, amid a 1.3% rise in shares of Facebook and a 0.7% gain in Google-parent Alphabet.

Wall Street was also preparing for the hotly anticipated meeting between Trump and North Korea leader Kim Jong Un in Singapore, set to occur on Tuesday.

President Trump and his administration escalated criticism of Prime Minister Justin Trudeau and international trade over the weekend at the annual G-7 summit that took place in Quebec

The conclusion of the two-day summit, where Trump met with leaders from Europe and Canada, resulted in the U.S. incumbent refusing to endorse the joint G-7 statement that called for a reduction of tariffs — sparking tensions between him and fellow G-7 leaders.

He also criticized Trudeau of "betrayal," saying that the prime minister's comments on U.S. tariffs were "very dishonest & weak."

Investors are also looking ahead to a meeting of the U.S. Federal Reserve, due to take place on Tuesday and Wednesday.

The U.S. central bank is expected to announce a quarter-point increase in interest rates as it seeks to normalize monetary policy with the economy showing signs of health.

Prices for the benchmark for the 10-year U.S. Treasury fell, raising yields to 2.95% from Friday’s 2.94%. Treasury prices and yields move in opposite directions.

Oil prices gained 33 cents at $66.07 U.S. a barrel.

Gold prices improved $1.50 at $1,304.20 U.S. an ounce.