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TSX picks up where it left off

Canada's main stock index rose at opening trade on Monday, driven by energy companies amid rising oil ...

Canada's main stock index rose at opening trade on Monday, driven by energy companies amid rising oil prices.

The S&P/TSX Composite Index gained 51.53 points to open Monday at 15,465.82

The Canadian dollar was unchanged at 76.75 cents U.S.

Saudi Arabia on Sunday warned against threats to punish it over last week's disappearance of Khashoggi, as European leaders piled on pressure and two more U.S. executives scrapped plans to attend a Saudi investor conference.

Enbridge said on Sunday it has started work on a temporary access road to the site of a natural gas pipeline fire last week in northern British Columbia, which disrupted refinery operations in the U.S. state of Washington.

Enbridge picked up 33 cents to $42.01.

Macquarie cuts target price on Rogers Communications to $74.00 from $76.00. Rogers shares galloped 41 cents to $65.09

Credit Suisse cut the target price on Stelco Holdings to $30.00 from $35.00. Stelco shares retreated 38 cents, or 1.8%, to $20.93.

CIBC cut the target price West Fraser Timber to $82.00 from $97.00. West Fraser shares lost a penny to $1.86.

The Canadian Real Estate Association said Monday actual (not seasonally-adjusted) home re-sales dipped 8.9% in September from the same month a year earlier.

ON BAYSTREET

The TSX Venture Exchange climbed 6.84 points, or 1%, to 705.44

All but three of the 12 subgroups were higher in the first hour, led by health-care, zooming 4.5%, gold, shining 2.8% brighter, and materials, picking up 1.6%

The three laggards were information technology, settling 0.4%, industrials, off 0.3%, and consumer staples, down 0.1%.

ON WALLSTREET

The Dow Jones Industrial Average moved lower on Monday as Wall Street tried to rebound from last week's steep losses.

The 30-stock index gave back 63.3 points, to start the week at 25,276.69

The S&P 500 faded 13.45 points to 2,753.98, as tech lagged.

The NASDAQ retreated 71.03 points, or 1%, to 7,425.86

Netflix fell more than 2.5% after Raymond James slashed its price target on the video-streaming giant. Amazon, Apple and Alphabet also traded lower.

Both the S&P 500 and Dow dropped more than 4% last week. The NASDAQ fell 3.7%. The S&P 500 also posted a third consecutive weekly loss, its longest such streak since June 2016.

The recent moves come as the latest corporate earnings season kicks into high gear. Netflix, Morgan Stanley, Johnson & Johnson, Procter & Gamble and Honeywell are among the companies scheduled to release third-quarter earnings this week.

Bank of America reported better-than-expected earnings and revenue on Monday. The stock, however, fell more than 1% in early trading.

Expectations for this earnings season are high. Analysts expect third-quarter S&P 500 profits to have expanded by 19% on a year-over-year basis.

In data, retail sales rose just 0.1% in September. Economists expected a gain of 0.6%.

Prices for the benchmark for the 10-year U.S. Treasury gained, lowering yields to 3.14% from Friday’s 3.16%. Treasury prices and yields move in opposite directions.

Oil prices deducted 20 cents at $71.14 U.S. a barrel.

Gold prices hiked $11.70 to $1,233.70 U.S. an ounce.