Equities in Canada’s largest market were back again in positive territory after a week of record-breaking readings. Monday’s gains were powered mostly by consumer stocks.
The TSX Composite Index gained 27.34 points to close Monday at 23,894.71.
The Canadian dollar advanced 0.3 cents to 74.02 cents U.S.
Canada-based investment issuer Alset AI Ventures said Morgan Good resigned as the company's CEO and director. Alset returned to Friday’s price of six cents.
Other tech issues that made hay included Enghouse Systems, up $1.12, or 3.5%, to $33.26, while Alithya Group picked up five cents, or 3%, to $1.74.
In consumer staples, George Weston prospered $3.70, or 1.7%, to $223.23, while Loblaw Companies hiked $2.61, or 1.5%, to $117.07.
Energy stocks did well, too, as Secure Energy Systems increased in price 51 cents, or 4.3%, to $12.50, while International Petroleum added 53 cents, or 3.1%, to $17.83.
Health-care let the side down somewhat, though, as Tilray traded in three cents, or 1.3%, to $2.29, while Chartwell Retirement Residences dipped 17 cents, or 1.1%, to $15.55.
Materials also slumped, as Fortuna Mining was lower by 31 cents, or 4.7%, to $6.34, while SSR Mining let go of 48 cents, or 5.9%, to $7.70. ‘
In gold stocks, B2Gold surrendered 14 cents, or 3.1%, to $4.40, while Wesdome Gold slid 18 cents, or 1.4%, to $12.96.
ON BAYSTREET
The TSX Venture Exchange nicked ahead 3.29 points to 588.20.
Seven of the 12 TSX subgroups were pointed downward, with health-care slumping 0.9%, materials down 0.9%, and gold off 0.5%.
Among the five gainers, consumer staples gathered 0.8%, while information technology and energy each gained 0.4%.
ON WALLSTREET
The S&P 500 rose Monday, as traders looked to build on the sharp gains seen last week following the Federal Reserve’s interest rate cut.
The Dow Jones Industrials gained 60.96 points to 42,124.32, yet another record high.
The much-broader index took on 16.1 points to 5,718.56.
The NASDAQ Composite acquired 25.96 points to 17,974.27.
The moves come after a winning week on Wall Street that centered around the Federal Reserve’s decision to lower interest rates by 50 basis points, its first cut in four years. Despite some choppiness following the initial announcement, stocks rallied in the days following.
Investors parsed fresh economic data on Monday, including a 15-month low reading for PMI manufacturing activity in the U.S. for August.
Prices for the 10-year Treasury eased back, lifting yields to 3.75% from Friday’s 3.74%. Treasury prices and yields move in opposite directions.
Oil prices dipped 50 cents at $70.50 U.S. a barrel.
Gold prices hiked $4.80 to $2,651.00 U.S. an ounce
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