Rising gold stocks helped push the Toronto stock market slightly higher as traders consolidate last week’s modest gain.
The S&P/TSX composite index gained 11.91 points to 13,798.41 while the Canadian dollar edged 0.1 of a cent lower to 90.49 cents (U.S.).
U.S. indexes were mainly lower as the Dow Jones industrials declined 32.47 points to 15,761.61, the Nasdaq was up 3.76 points to 4,129.62 while the S&P 500 index was 2.93 points lower to 1,794.09.
The TSX gained 0.67 per cent last week while the Dow rose 0.6 per cent after U.S. jobs creation data released on Friday came in below expectations. But the unemployment rate dipped to 6.6 per cent from 6.7 per cent, the lowest rate since late 2008 while labour force participation increased.
On the corporate front, International Forest Products shares jumped 8.5 per cent as it moved to acquire a Georgia lumber business in a $180-million (U.S.) deal with Ilim Timber Continental SA. Interfor says the acquisition of Ilim’s Tolleson lumber business will make it one of the top five lumber producers in North America.