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TSX Remains Positive Midday
Stocks in Canada's biggest market rose on Monday, boosted by gains in materials and financial shares, ...

Stocks in Canada's biggest market rose on Monday, boosted by gains in materials and financial shares, while investors shrugged off fears of a global trade war following a chaotic G7 meeting.

The S&P/TSX Composite Index jumped 69.7 points to approach noon at 16,272.39

The Canadian dollar settled 0.07 cents to 77 cents U.S.

Among the top percentage gainers on the TSX was Ivanhoe Mines, which took on seven cents, or 2.2%, to $3.30, after news of a unit of Chinese conglomerate CITIC Ltd to buy a near 20% stake Ivanhoe for about $723 million.

The most heavily traded shares by volume were Bombardier Inc and Aurora Cannabis.

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 two cents to $4.90.

Top decliner on the TSX was Prometic Life Sciences, whose shares fell three cents, or 4.2%, to 69 cents.

Second biggest decliner was Aurora Cannabis, down 26 cents, or 2.8%, to $9.04, 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 2.67 points midday Monday to 772.55

All but two of the 12 TSX subgroups were down by noon, as materials and industrials each strengthened 0.8%, while gold shone 0.7% brighter

The two laggards were health-care and utilities, each sinking but 0.01%.


U.S. stocks held steady Monday as investors shrugged off some 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 gained 46.68 points to stop for lunch Monday at 25,363.21, with losses in McDonald's and 3M dragging down gains in UnitedHealth and Home Depot.

The S&P 500 picked up 8.66 points to 2,787.69, as a rise in telecommunications stocks offset mild losses in technology.

The NASDAQ added 20.86 points to 7,666.37, amid a 1.3% rise in shares of Facebook and a 0.6% 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 2.97% from Friday’s 2.94%. Treasury prices and yields move in opposite directions.

Oil prices skidded 17 cents at $65.57 U.S. a barrel.

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