It was a positive day Monday, with resource and tech stocks pointing the way upward. Investors also took in positive housing and building numbers.
The TSX Composite Index shot higher 85.08 points to conclude Monday to 17,740.57
The Canadian dollar lost 0.09 cents to 75.03 cents U.S.
Gold stocks ruled the roost Monday, with Eldorado Gold advancing 21 cents, or 2.4%, to $9.09, while IAMGOLD progressing 19 cents, or 4.9%, to $4.04.
Among techs, Lightspeed POS captured $1.27, or 3.5%, to $37.97, while Shopify popped $4.40, or 1.1%, to $44.26.
Consumer discretionary stocks also had a big day, with Great Canadian Gaming amassing $4.40, or 11%, to $44.26, while Restaurant Brands took on $2.37, or 2.8%, to $87.09.
Health-care stocks were wounded somewhat, with Aurora Cannabis falling 81 cents, or 8%, to $2.08, while Canopy Growth sagging 74 cents, or 2.8%, to $25.39.
Energy backpedaled, as MEG Energy sank 39 cents, or 5.5%,, to $6.53, and Baytex Energy dipped five cents, or 3.6%, to $1.36.
Financials were the poorer, as Element Fleet Management docking 17 cents, or 1.3%, to $13.02, while Home Capital Group removed 39 cents, or 1.2%, to $33.22.
On the economic scene, January housing starts were fairly flat at 210,915 units in January, compared to 212,212 units in December, according to Canada Mortgage and Housing Corporation, while building permits increased 7.4% to $8.7 billion in December.
Increases were reported in five provinces, led by Ontario and Quebec.
ON BAYSTREET
The TSX Venture Exchange slid 3.37 points to finish Monday at 570.79.
All but three of the 12 TSX subgroups were stronger, with gold brighter by 1.5%, information technology picked up 1.3%, and consumer discretionary hiked 1.1%.
The three laggards were health-care, down 1.7%, energy, off 0.1%, and financials off 0.01%.
ON WALLSTREET
Stocks rose on Monday, rebounding from a decline earlier in the day, led by solid gains in tech shares such as Amazon.
The Dow Jones Industrials hurtled higher 174.31 points to 29,276.82.
The S&P 500 added 24.38 points at 3,352.09.
The NASDAQ spiked 107.88 points, or 1.1%, to 9,628.39. Both the S&P 500 and NASDAQ reached all-time highs.
Amazon rose 2.6% to a record high, breaking above $2,100 per share for the first time. Netflix and Alphabet both closed more than 1% higher while Facebook eked out a gain. Tesla, meanwhile, gained more than 3% in another volatile session for the electric car maker.
Boeing was the best-performing Dow stock, closing 2% higher. Microsoft, Visa and Cisco Systems added to the 30-stock average’s gains, advancing more than 1% each.
Apple shares fell as much as 1.9% on Monday amid concerns the outbreak will hurt production of the tech giant’s best-selling product, the iPhone. Foxconn, one of Apple’s biggest suppliers, got approval to resume production at a key manufacturing plant but only 10% of its workforce has returned.
In other corporate news, Xerox raised its offer to buy HP Inc to $24 per share, or about $34 billion. That’s up from a $22 per share offer made by Xerox in November. Xerox shares gained 1.4% while HP advanced 0.8%.
Meanwhile, L Brands is reported closing in on a sale of its Victoria’s Secret brand to Sycamore Partners. L Brands shares gained more than 2%.
As of Sunday night, China said a total of 40,171 cases of coronavirus had been confirmed and 908 people had died, while 14 Americans have tested positive for the virus aboard a cruise ship quarantined in Japan. The death toll from the coronavirus has also overtaken that of the SARS outbreak in the early 2000s.
Chinese President Xi Jinping said China would speed up development of drugs aimed at treating pneumonia-like viruses. Xi also said China will win the fight against the coronavirus. He noted, however, the situation remains dire.
Prices for the 10-Year U.S. Treasury moved higher, lowering yields to 1.56% from Thursday’s 1.58%. Treasury prices and yields move in
opposite directions.
Oil prices backed off 76 cents to $49.56 U.S. a barrel.
Gold prices hiked $3.80 to $1,577.20 U.S. an ounce.
