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TSX Enjoys Small Gains

Baystreet.ca
Stocks in Canada’s biggest market were mildly positive by Monday’s closing bell, as growth in health-care ...

Stocks in Canada’s biggest market were mildly positive by Monday’s closing bell, as growth in health-care stocks overcame slight losses in the oil patch.

The S&P/TSX Composite Index recovered 26.98 points to end Monday at 15,604.79

The Canadian dollar gave back 0.13 cents to 77.92 cents U.S.

Health-care stocks were the most positive, with Valeant Pharmeuticals charging ahead 54 cents, or 2.7%, to $20.28, while Aphria Inc. gained 36 cents, or 2.6%, to $14.35.

The gold sub-sector found its way north by the closing bell, as Barrick Gold moved higher 49 cents, or 3.2%, to $15.63, and Goldcorp hiking 39 cents, or 2.3%, to $17.05.

Among materials, First Quantum Minerals vaulted 70 cents, or 3.5%. to $20.99, while Agnico Eagle Mines grew 57 cents, or 1.2%, to $50.61.

The energy group retreated, weighed by Imperial Oil ,which fell 29 cents to $34.80, and Canadian Natural Resources, down 22 cents at $38.68.

In Toronto, financial shares lost grip on their tentative gains. CIBC lost a penny to $118.09.

Among telecoms, Rogers Communications dipped 12 cents to $58.41, while TELUS Corporation weakened eight cents to $46.66.

ON BAYSTREET

The TSX Venture Exchange skidded 1.2 points to 827.70

All but three of the 12 TSX subgroups were positive, as health-care strode 2.3% ahead, gold shone brighter by 1.1%, and materials strengthened 0.6%.

The three laggards were energy, falling 0.3%, financials, poorer by 0.1%, and telecoms, off 0.03%.

ON WALLSTREET

The Dow Jones industrial average fell on Monday as investors worried a trade war could develop after President Donald Trump implemented tariffs on steel and aluminum imports.

The 30-stock index stumbled 157.13 points to 25,178.61, with Boeing, Caterpillar and United Technologies all falling at least 2%. The Dow rose more than 100 points earlier in the session as shares of Apple and Goldman Sachs reached all-time highs.

The S&P 500 eased off 3.55 points to 2,783.02, with industrials dropping 1.2%.

The NASDAQ composite Index stayed buoyant 27.51 points to 7,588.33, to reach intraday and closing records as Apple recovered its losses from last month's correction. Amazon also hit an all-time high to help lead the gains.

In corporate news, David Solomon will take over as president and COO at Goldman Sachs after Harvey Schwartz, his sole competitor for the CEO position, retires next month. Goldman shares rose as much as 1.7% before closing 1% higher.

Andrew Liveris will step down from his post as executive chairman at DowDuPont in April. Jeff Fettig, co-lead independent director at DowDuPont, will take over the role upon Liveris' departure.

Analysts at Jefferies said in a note Monday that Steven Spielberg's "Ready Player One" movie could be a catalyst for both Nvidia and Advanced Micro Devices. In a note to clients, they said: "We believe that the movie will drive sales of VR headsets that require high-performance GPUs from NVDA and AMD."

The U.S. Federal Reserve is scheduled to meet next week, with most market participants expecting the central bank to raise interest rates. Market expectations for a March rate hike stood at 86% on Monday

Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.87% from Friday’s 2.89%. Treasury prices and yields move in opposite directions.

Oil prices dropped 70 cents a barrel to $61.34 U.S.

Gold prices subtracted 40 cents to $1,323.60 U.S. an ounce.