Commodities helped drive Canada's benchmark index higher on Monday, but major U.S. indexes ended the day with slight losses.
The Dow Jones industrial average closed at 11,362.19, down 19.90 points, or 0.2 per cent. The broader S&P 500 closed at 1223.12, down 1.59 points or 0.1 per cent. In Canada, the S&P/TSX composite index closed at 13,276.01, up 97.06 points, or 0.7 per cent.
Materials stocks made all the difference between the two countries, with a rally by metals producers in particular giving the Canadian index a decent rise for the day. Teck Resources Ltd. rose 3.4 per cent and Barrick Gold Corp. rose 1.9 per cent. Among other materials stocks, Cameco Corp. rose 1.8 per cent and Potash Corp. of Saskatchewen rose 0.9 per cent.
Research In Motion Ltd. was also strong, rising 1.7 per cent.
The gains helped offset weaker financials, which continued to slide following last week's string of disappointing earnings reports from most Big Banks. Royal Bank of Canada fell 1.2 per cent and Toronto-Dominion Bank fell 1.9 per cent.
As well, Canadian Oil Sands Trust fell 1.2 per cent after announcing last week that it will probably slash its cash payout by 60 per cent in the new year.
Among U.S. stocks, Pfizer Inc. rose 0.5 per cent after its chief executive stepped down after four-and-a-half years in the top job – a period that coincided with a tumbling share price and lacklustre development in the company's drug pipeline.
In other moves, JPMorgan Chase & Co rose 0.7 per cent but Bank of America Corp. Fell 1.9 per cent. Cisco Systems Inc also ose 1.9 per cent.